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Account Recovery
AUGUST 30, 2024
million civil penalty against New Day Financial for deceiving veterans and active-duty servicemembers in connection with cash-out refinance loans. The CFPB’s findings indicate that this practice, which made the new loans appear cheaper than existing ones, affected over 3,000 borrowers. ” Learn more.
Account Recovery
OCTOBER 23, 2024
The Department of Education is making its student loan collection on-ramp a little longer, announcing that it will start reporting late or missed student loan payments to credit bureaus in early 2025, a delay from the originally planned start date this month.
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Account Recovery
JUNE 14, 2024
With all the talk about medical debt this week as a result of the Consumer Financial Protection Bureau’s proposed medical debt credit reporting rule, it’s perhaps interesting to note that a majority of consumers feel forgiving medical debt is more important than forgiving student loan debt, according to the results of a new poll.
Account Recovery
SEPTEMBER 23, 2024
The California Department of Financial Protection and Innovation (DFPI) continues to flex its enforcement muscle, recently announcing actions against three student loan debt relief companies that will see them pay more than $260,000 in penalties and restitution. The enforcement actions require the companies to: The big picture: With 3.7
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The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers.
Account Recovery
SEPTEMBER 10, 2024
A new study released by Intuit Credit Karma reveals that a large majority of individuals with student loans have not made any payments following the end of the pandemic moratorium and many are worried about their financial stability going forward.
Account Recovery
APRIL 15, 2024
billion in student loan debt relief for nearly 300,000 borrowers, many of whom were signed up for the administration’s new income-driven repayment program. The administration touted that this latest round of relief raised the total loan forgiveness to $153 billion, for more […]
Speaker: Alex Jiménez, Managing Principal, Financial Service Consulting for EPAM
Many US banks are bracing for increased defaults and lower demand for mortgages and other loans as interest rates have increased. Global economic conditions are soft at best. From a budget standpoint, US banks are feeling the pinch. The largest banks have increased reserves to protect against deteriorating economic conditions.
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