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Report: Many Individuals ‘Overpaying’ for Their Car Loans

Account Recovery

Figuring out the interest rate on auto loans is a blurry process that may take factors other than the applicant’s creditworthiness into question and will likely lead to a spike in delinquency and default rates in the coming years as forbearance and deferment programs put in place for the COVID-19 pandemic expire, according to a … The post (..)

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California Governor Signs Trio of Collection-Related Bills into Law

Account Recovery

Monique Limón (D-Santa Barbara), author of SB 1061: “No Californian should be unable to secure housing, a loan, or even a job because they accessed necessary medical care.” The states are following the lead of the Consumer Financial Protection Bureau, which is proceeding with a similar proposal. What they’re saying: Sen.

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How to Find the Right Online Personal Loan for You

Credit Corp

Everything is online these days—including personal loans. Online lenders make it easy to compare rates and terms and find the right online personal loan for your situation. Personal loans were the fastest-growing category of consumer debt in 2019 , according to a survey from J.D. What is an online personal loan?

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The Lenders Giving Borrowers Second Chance Loans

Credit Corp

And her bank wouldn’t give her and her husband Larry a loan to buy a replacement home. Brenda’s still tending her garden, though, thanks to a second-chance loan from the New Hampshire Community Loan Fund-a Community Development Financial Institution (CDFI). Flexible loan amounts. Support beyond the loan.

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Is Invoice Factoring Good for Your Company?

Nexa Collect

Unlike a standard loan, which can take weeks to months to process, businesses can convert their unpaid invoices to cash quickly, often within a day or two. Your creditworthiness isn’t a factor when you apply for invoice factoring. Your creditworthiness isn’t a factor when you apply for invoice factoring.

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AI Transparency Bills Introduced in House by Rep. Waters as House Fin’l Services Committee Preps Tech Hearing

Account Recovery

The big picture: The financial services industry, including banks, credit unions, fintechs, and debt collectors, increasingly relies on AI for various functions, from assessing creditworthiness to customer service automation. With such reliance comes the responsibility to ensure AI is used ethically and transparently.

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What Is a Signature Loan?

Nerd Wallet

A signature loan is a fixed-rate, unsecured personal loan offered by an online lender, bank or credit union. It’s called a signature loan because it’s secured by your signature instead of collateral, like a car or an investment account. Getting approved for a signature loan will likely depend on your creditworthiness.

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