Collection Industry News

FEBRUARY 14, 2022

Lewis, who started the company with his wife Linda in Lubbock in 1986 after a career in banking, knew that meant a lot of his employees didn’t have a way to save money, get loans, and other benefits of working with a financial institution. So the Lewises and a few others started a credit union.

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Credit Unions Credit Unions Financial Institution Banks 52

Fico Collections

FEBRUARY 5, 2021

The report – Americans’ Shadow Financial Lives: The Mobile Apps Banks Don’t Know They Use – found that U.S. financial services customers are increasingly engaged in behaviors and relationships that are deeply meaningful and are not on the radar screens of their incumbent providers. The Emergence of Shadow Financial Lives.

Banks 52

Banks Startups Credit Unions Credit Unions 52

Fico Collections

AUGUST 23, 2021

To measure the impact of COVID-19 on digital transformation in financial services, FICO surveyed 14,000 consumers across 14 countries in 2021 to evaluate customer-willingness for digital account opening. We found that the COVID-19 pandemic drove a digital-first mindset in financial services, with 71% of U.S.

Financial Institution 52

Financial Institution Financial services Banks Education 52

True Accord

APRIL 5, 2023

Meanwhile, eyes are on the Big Apple as the New York Department of Financial Services (DFS) and the New York City Department of Consumer and Worker Protection are simultaneously engaged in amending their consumer debt collection rules. The final amended rule will go into effect on July 20, 2023.

Student loans 102

Student loans Student Loans Credit Card Debt Loans 102

Debt Collection Answers

MAY 18, 2023

Caine and Weiner is a prominent debt collection firm that operates across various sectors, gathering debts from a range of industries, including: Personal loans Phone bills Student loans Credit cards To secure his debts, Caine and Weiner acquire them from the original creditors at a reduced price, then pursue the entire amount from the debtor.

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Collection Agencies Collections Agency Student Loans Student loans 52

Collection Industry News

SEPTEMBER 27, 2022

All figures, unless otherwise stated, are from a Dynata (formerly Research Now/SSI) survey conducted on behalf of Discover Financial Services. Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services.

Student loans 40

Student loans Student Loans Loans Financial services 40

Credit Corp

DECEMBER 1, 2020

He is a veteran of the financial services industry where he has served financial institutions in a multitude of roles including COO, CFO, and Chief Investment Officer. His career in the financial services industry spans over 20 years, with the majority dedicated to serving credit unions.

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Loans Credit Unions Credit Unions Financial Institution 69

Better Credit Blog

AUGUST 4, 2020

Short for the First National Bank of Omaha, FNB National is a popular bank for several personal and professional financial services and products, including: Banking. Home loans. Auto loans. Personal loans. Student loan refinancing. FNB Omaha is not a scam or a debt collection agency.

Banks 52

Banks Lender Loans Student Loans 52

True Accord

JULY 5, 2022

Missed payments on certain loans are already on the rise. The Wall Street Journal reported that borrowers with credit scores below 620 (subprime) with car loans, personal loans or credit cards that are over 60 days late are “rising faster than normal.” We all knew this was coming.

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Lender Debt collector Loans Personal loans 52

Collection Industry News

MARCH 15, 2021

SACRAMENTO – More than a year into the COVID-19 pandemic, the California Department of Financial Protection and Innovation (DFPI) continues to expand efforts to protect consumers from financial impacts of the lethal virus that has ravaged the state’s economy and killed more than 53,000 Californians.

Foreclosure 40

Foreclosure Student Loans Student loans Lender 40

Fico Collections

SEPTEMBER 8, 2022

The trend towards mobile payments has bolstered the use of mobile devices for financial transactions and spurred innovation across industries, while real-time payments have delivered incredible efficiency and convenience by providing a digital equivalent of physical cash that allows people to pay for things instantaneously.

Banks 52

Banks Personal loans Financial services Loans 52

Fico Collections

FEBRUARY 9, 2023

Customer Ownership with Embedded Digital Financial Services Companies like Amazon, Netflix, Starbucks, Apple, Google and Spotify among many others, have taken “traditional” customers services and transformed them into digital experiences that are now embedded in our daily lives.

Financial Institution 52

Financial Institution Banks Loans Financial services 52

Collection Industry News

AUGUST 17, 2024

After the 2008 crisis, we saw sweeping reforms brought into the financial sector, including the Consumer Financial Protection Bureau in the USA, stronger banking regulations in Australia, and the Financial Services (Banking Reform) Act in the UK. 30-89 day delinquency rates increased by 42.9%

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Collections Banks Financial Institution Personal loans 40

Troutman Sanders

AUGUST 21, 2023

Relying heavily on the Truth in Lending Act (TILA) to give meaning to the previously italicized phrase, the court determined that loans obtained to make a profit generally do not constitute “personal” loans under TILA.

Financial services 52

Financial services Banks Loans Financial Institution 52

True Accord

OCTOBER 12, 2022

And, collections and charge off rates for auto leases, personal loans and bank cards are higher than pre-pandemic. Amidst all the economic gloom, there was a silver lining for many borrowers in the form of student loan forgiveness. a requirement to use autopay), data harvesting (i.e.,

Student Loans 74

Student Loans Student loans Debt collector Lender 74

Better Credit Blog

APRIL 5, 2022

So a collection account will have a negative impact on your ability to apply for new credit — whether it’s a mortgage, a major credit card, or a personal loan. Ability Recovery Services. Accelerated Financial Solutions, LLC. Account Resolution Services. Action Financial Services.

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Collections Collection Agencies Collections Agency Original Creditor 98

Troutman Sanders

MARCH 14, 2023

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

MARCH 6, 2023

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Loans 52

True Accord

JANUARY 21, 2025

This net was driven by decreases in delinquent first mortgage and unsecured personal loan balances, which were offset by increases in delinquent bankcard balances and on a dollar basis in delinquent second mortgages.

Student loans 83

Student loans Student Loans Credit Card Debt Financial Institution 83