Consumer Finance
AUGUST 6, 2024
The CFPB issued a report finding that some residential solar lenders are misleading homeowners and cramming markup fees into borrowers’ loan balances.
Account Recovery
AUGUST 6, 2024
Comments are currently being accepted regarding the Consumer Financial Protection Bureau’s proposed rule that would prohibit creditors from using medical debts when determining whether a consumer is eligible for credit. The comment period is open until August 12.
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Consumer Finance
AUGUST 6, 2024
People can submit complaints about solar loans with the CFPB and with other federal and state agencies.
Account Recovery
AUGUST 6, 2024
Credit card debt is on the rise, reaching levels not seen since the early days of the pandemic. Half of credit cardholders now carry a balance from month to month, up from 44% in January and the highest rate observed since March 2020, when 60% of cardholders carried debt, according to a new Bankrate survey.
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
UK debt collections
AUGUST 6, 2024
More than 2.7 million debts were referred to bailiffs by local authorities in England and Wales during the 2022/23 financial year, according to new research conducted by the Money Advice Trust , the charity that runs National Debtline, and the Centre for Social Justice think-tank. The findings, based on Freedom of Information requests to local authorities, form part of wider research into council tax debt and collection practices published by the Centre for Social Justice, which reveals that 1.3
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
AUGUST 6, 2024
Director Rohit Chopra delivered remarks about preventing predatory lending in the residential solar market.
Account Recovery
AUGUST 6, 2024
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?
Consumer Finance
AUGUST 6, 2024
Las personas pueden presentar quejas sobre préstamos para energía solar ante el CFPB y otras agencias federales y estatales.
Account Recovery
AUGUST 6, 2024
A District Court judge in Pennsylvania has granted a defendant’s motion for summary judgment, while also denying a motion for summary judgment from the plaintiff, ruling that sending a collection letter for a business debt to the plaintiff using the plaintiff’s name and not the name of the business is not a violation of the […]
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
Payment Savvy
AUGUST 6, 2024
Financial transactions revolve around various numerical identifiers that ensure secure and precise processing. These identifiers are fundamental, from the bank account number on checks to the digits on your credit card. Understanding these identifiers can help you manage your finances more effectively and avoid potential transaction pitfalls. As financial technologies evolve, keeping abreast of these fundamentals remains crucial for personal and business financial health.
Collection Industry News
AUGUST 6, 2024
LL Flooring, formerly known as Lumber Liquidators, has filed for bankruptcy and will close 94 of its stores across the United States. But the retailer is not liquidating itself immediately, as the company recently announced that it had entered Chapter 11, which allows for a re-organization rather than a wind-down of the business. Instead, LL Flooring will use the process to seek a sale of the 30-year-old business, which said it’s in “active negotiations with multiple bidders,” according to a pre
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