Account Recovery
FEBRUARY 26, 2024
Another day, yet another sign that consumers are over-extended and are at risk of falling off a financial cliff. The number of consumers who are carrying more credit card debt than emergency savings has reached its highest point since Bankrate began tracking the metric 13 years ago.
UK debt collections
FEBRUARY 26, 2024
A local authority exposed by the Sunday Mail for using debt collectors to chase school meal arrears has ditched the policy. Scottish Renfrewshire Council had last year enlisted Sheriff Officers to chase hard up families over unpaid canteen bills. Officials initially denied the story before confirming it – but they have now abolished the practice after holding a review.
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Account Recovery
FEBRUARY 26, 2024
Judge Denies Attorney’s Fees for Defense in FDCPA Case Belief in Excessive Collection Tactics Leads CFPB to Put Small-Dollar Lender Under Federal Supervision Consumers With More Credit Card Debt than Emergency Savings Hits All-Time High: Bankrate Compliance Digest – February 26 WORTH NOTING: A security company is in hot water for showing customers live footage […]
Troutman Sanders
FEBRUARY 26, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On February 26, CoinSpeaker reported that in May, the U.S. Securities and Exchange Commission (SEC) and South Korea’s Financial Supervisory Service (FSS) will discuss the classification and regulation of nonfungible tokens (NFTs) and spot Bitcoin excha
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Account Recovery
FEBRUARY 26, 2024
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
FEBRUARY 26, 2024
A District Court judge in Florida has adopted the recommendations of a Magistrate Court judge and declined a motion from a defendant for attorney’s fees in a Fair Debt Collection Practices Act case, ultimately ruling that the plaintiff’s claims were deficient, and not frivolous.
Troutman Sanders
FEBRUARY 26, 2024
On February 23, the Consumer Financial Protection Bureau (CFPB or Bureau) released an order , dated November 30, 2023, establishing supervisory authority over installment lender World Acceptance Corp. The CFPB found that it had reasonable cause to determine that the conduct of World Acceptance “poses risks to consumers with regard to the offering or provision of consumer financial products or services,” and, therefore, the agency could exercise its supervisory powers over the company under the C
Account Recovery
FEBRUARY 26, 2024
For the first time, the Consumer Financial Protection Bureau has determined that the risks surrounding the conduct of a small-dollar consumer finance company are sufficient that it needs to be supervised by the Bureau, a decision that the company contested, but was unable to convince the Bureau to change its mind.
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