Collection Industry News

DECEMBER 7, 2021

itch Ratings-New York-03 December 2021: Both chargeoffs and late stage delinquencies hit record lows for U.S. Retail chargeoffs broke record lows in 3Q21, down to 3.72% from 5.04% in 2Q21, levels not observed since inception of Fitch’s Retail Credit Card Index in 1996. Source: site.

Retail 40

Retail Collections 40

Fico Collections

DECEMBER 15, 2022

Wed, 05/25/2022 - 03:43. As scams grow worldwide – scams grew by 30% in two years in the UK and by 18% from 2020 to 2021 in the US – financial services institutions are looking for new tools to detect and stop them. transaction review rate than the Falcon Retail Banking fraud score. Saxon Shirley. by Scott Zoldi.

Retail 52

Retail Financial services Collections Banks 52

Fico Collections

DECEMBER 6, 2022

Tue, 03/23/2021 - 22:16. In addition to credit card balances beginning to increase, the active rate has also seen an increasing trend since May of 2021 signaling that more consumers are turning back to credit after taking a hiatus during the pandemic. US Bankcards Industry Benchmarking Trends: 2022 Q3 Update. by Leanne Marshall.

Student loans 52

Student loans Student Loans Loans Retail 52

Fico Collections

AUGUST 16, 2022

Wed, 05/25/2022 - 03:43. Inflation began to rise in the Spring of 2021, but consumers had excess savings from the pandemic and pent-up demand for travel, leading to increases in consumer confidence. As was discussed in the Q1 Bankcard benchmarking review , payment rates continue to hold at ~30% since April 2021. Saxon Shirley.

Credit Card Debt 52

Credit Card Debt Retail Financial services Government 52

Fico Collections

JUNE 16, 2022

Fri, 06/03/2022 - 12:48. In 2021, it was believed that high payment rates were due to consumers having excess funds from government stimulus and payment deferral programs, but that behavior appears to be holding strong into 2022. The payment rate has remained steady at approximately 30% since April 2021 and 48.2%

Government 52

Government Financial Institution Retail Consumer Credit 52

Fico Collections

MARCH 30, 2023

The government is so concerned about cash disappearing they have written legislation that would require retailers to accept cash payments. billion in losses to investment scams alone in 2022, more than double the losses from 2021. And I don’t have to worry about back problems from sitting on a small phone book!

Banks 52

Banks Education Retail Trade 52

Fico Collections

JUNE 15, 2023

Wed, 03/08/2023 - 22:14 jessica shortt by TJ Horan Vice President, Product Management expand_less Back to top Thu, 06/15/2023 - 15:05 As someone who has made a career in the payments industry, I feel a little weird making this bold statement: it has become too easy to send money to other people. billion reported in 2021.

Banks 52

Banks Financial Institution Retail 52