Collection Industry News

MARCH 19, 2024

“Growing debt balances, stubborn interest rates and elevated prices are still a thorn for consumers, and contribute to their overall financial stability,” explains TrueAccord CEO Mark Ravanesi in his Q4 Industry Insights: Cautious Optimism with a Side of Holiday Hangover.

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Consumer Credit Student loans Student Loans Collections 40

Public Citizen

JULY 6, 2020

the Court held that a 2015 amendment to the Telephone Consumer Protection Act, which allowed cellphone robocalls to collect federal debts (such as student loans and mortgages), gave unconstitutionally favorable treatment to federal debt collection over other types of speech. American Assn. of Political Consultants, Inc.,

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Collections Student loans Student Loans Government 70

Consumer Financial Services Law

JANUARY 22, 2021

Communications in Connection with Debt Collection) to allow debt collectors to communicate with the deceased consumer’s spouse, parent (if the consumer is a minor), legal guardian, executor or administrator, and confirmed successor in interest (as defined Regulation X). Section 1006.2(c) This definition dovetails with 1006.6

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National Service Bureau

JUNE 23, 2015

Through this report, the Fed wishes to provide “ a quarterly snapshot of household trends in borrowing and indebtedness, including data about mortgages, student loans, credit cards, auto loans and delinquencies. These debts are familiar to most Americans; there was a $117 billion increase in household debt during 2014: Q4.

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Student loans Student Loans Credit Card Debt Collection Agencies 40

Debt Free Colorado

MARCH 3, 2023

A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. There are officially six separate categories of bankruptcy , each designated after a specific section of federal bankruptcy law. Do Bankruptcies Come in Different Types?

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Fico Collections

JANUARY 6, 2021

They also offered perceptive tips for dealing with what they dubbed the “debt tsunami.”. Here were the five most popular posts in this category last year: #1. Debt Collection And Covid-19: What Past Crises Can Teach Us. Bruce Curry brought his experience to bear in a series of posts, beginning with this one.

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Collections Loans Lender Government 98

True Accord

FEBRUARY 3, 2022

These can be separated into two main categories, portfolio metrics and operational metrics. . How do lenders and debt collectors use roll rates? What are the economics of collections metrics for delinquent accounts? There are a number of metrics to pay close attention to in the management of delinquent accounts.

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Lender Collections Collection Companies Loans 52

National Service Bureau

JUNE 10, 2015

Debt collectors sometimes have a bad rap, but the truth is that they provide an important service to society so long as their practices are ethical in nature (i.e. Find out the type of clients most typically served and evaluate whether or not you fall into that category. Industries include commercial collections (e.g.

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Collection Agencies Collections Agency Collections Collection Companies 40

Troutman Sanders

DECEMBER 19, 2023

For example, the whitepaper discusses how the quality of a stablecoin issuer’s reserve asset composition, and its ability to meet redemption requests, will determine whether a particular stablecoin meets the conditions to be included in the Group 1b category and be subjected to existing bank capital requirements.

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Financial services Banks Debt collector Government 52

Troutman Sanders

SEPTEMBER 25, 2023

On September 18, the CFPB released a final rule that revised the threshold dollar amounts triggering certain provisions implementing the Truth-In-Lending-Act and its amendments that impact loans under the Home Ownership and Equity Protection Act of 1994 (HOEPA) and qualified mortgages (QM).

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Financial services Loans Banks Debt collector 52

Consumer Financial Services Law

JANUARY 3, 2017

The Report is a high level snapshot of trends in consumer complaints and provides a summary of the volume of complaints by product category, by company and by state. Additionally, it highlights a product type and a geographic area.

Third-party Debt Collectors 40

Third-party Debt Collectors Student loans Student Loans Collections 40

Troutman Sanders

MAY 3, 2021

The rule requires debt collectors seeking to evict tenants for nonpayment of rent to provide written notice to tenants of their rights under the Centers for Disease Control and Prevention (CDC) order. Privacy and Cybersecurity Activities. Any comments on the rule must be submitted by May 7. households and businesses.”

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Financial services Foreclosure Collection Agencies Collections Agency 52

Troutman Sanders

MAY 2, 2023

The bill additionally leaves room for assets that don’t fit neatly into either category. On April 26, the CFPB issued an advisory opinion, reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act.

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Financial services Trade Consumer Credit Government 52