Fico Collections

FEBRUARY 16, 2021

Financial institutions are now working closely with the UK Treasury to craft a standard set of rules setting out how the collection and recovery of government-backed bounce back loans for small businesses should be handled. Forbearance Best Practice and Upholding Customer Engagement Standards.

Lender 52

Lender Collections Loans Acquisition 52

Collection Industry News

SEPTEMBER 2, 2024

Definitions Debt collector : Any person or agency whose primary business is collecting debts on behalf of others, including collection agencies, lawyers who regularly collect debts, and companies that buy debts for collection.

Fair Debt Collection 40

Fair Debt Collection Debt collector Collections Acquisition 40

Collection Industry News

JUNE 14, 2021

In 2018, Homeland Security Investigations agents got a search warrant and seized $242,088 from Nocera’s business and personal bank accounts, after convincing a judge there was probable cause to believe the funds were derived from unlawful debt collecting and wire fraud. The settlement also permanently banned them from debt collection.

Debt collector 40

Debt collector Judgment Acquisition Collections 40

Better Credit Blog

AUGUST 31, 2020

Originally founded in 2002, Covington Credit is a small debt collection agency headquartered in Greenville, SC. They collect on behalf of a variety of industries including health care, utility providers, telecommunication services, and government agencies. What is Covington Credit?

Debt collector 53

Debt collector Original Creditor Creditors Collections 53

Troutman Sanders

MAY 5, 2022

The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. The CFPB wants to see revised policies and procedures governing holds controls to monitor for and detect instances of duplicate holds.

Financial Institution 52

Financial Institution Repossession Debt collector Lender 52

Collection Industry News

MAY 9, 2022

The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. The CFPB wants to see revised policies and procedures governing holds controls to monitor for and detect instances of duplicate holds.

Financial Institution 40

Financial Institution Repossession Debt collector Student Loans 40

Troutman Sanders

JUNE 14, 2023

The bill exempts certain accounts that originate in the Department of Revenue from the general requirement to assign liquidated and delinquent accounts to a private collection agency within one year of the most recent payment on the account. On June 7, Oregon Governor Tina Kotek signed SB 981 into law. For more information, click here.

Financial services 52

Financial services Financial Institution Trade Student Loans 52

Troutman Sanders

FEBRUARY 22, 2021

The sum total in December of all net foreign acquisitions of long-term securities, short-term U.S. The proposed legislation would cover “private lenders, creditors, and collection agencies in connection with those student education loans that are not made, insured, or guaranteed under federal law and that are used for postsecondary education.”

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

The Kaplan Group

JANUARY 7, 2021

There are fewer third-party collections agencies. The number of collection firms has been in decline since 2011, from 9,400 to 7,401 in 2018. While much of the decline is due to mergers and acquisitions, the majority of firms that simply closed were small, local firms or larger agencies with heavy overhead.

Collections 59

Collections Collection Agencies Collections Agency Student Loans 59

Troutman Sanders

SEPTEMBER 21, 2020

The sum in July of all net foreign acquisitions of long-term securities, short-term U.S. The guidelines provide information on “how to identify and mitigate personal network compromises to secure data and protect government furnished equipment when used for telework.” For more information, click here. On September 16, 2020, the U.S.

Financial services 52

Financial services Banks Government Acquisition 52

Account Recovery

JANUARY 3, 2025

Since 2013 (and likely before that), the volume of collection lawsuits has continued to grow nationwide. As state and federal legislators and regulators increase restrictions on collection agencies, creditors and agencies have increased their reliance on litigation to avoid the expense and exposure associated with ongoing regulation.

Accounts Receivables Management 130

Accounts Receivables Management Acquisition Government Collection Agencies 130

Troutman Sanders

JUNE 1, 2021

Federal Activities: On May 28, the Federal Reserve Board requested public comment on proposed changes to its Policy on Payment System Risk (PSR policy) that governs the provision of intraday credit, or daylight overdrafts, to healthy depository institutions with accounts at the Federal Reserve Banks. Privacy and Cybersecurity Activities.

Financial services 52

Financial services Government Foreclosure Loans 52