Acquisition Collections Debt collector Financial Institution 
Troutman Sanders
MAY 5, 2022
The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. Debt Collection.
Collection Industry News
MAY 9, 2022
The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. Debt Collection.
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Consumer Financial Services Law
MAY 10, 2017
A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008.
Troutman Sanders
NOVEMBER 13, 2023
On November 6, the Bank of England, Financial Conduct Authority, and Prudential Regulation Authority issued guidance explaining how current and proposed regulatory regimes governing “e-money, stablecoins, and tokenised bank deposits” will interact, indicating that applicable financial institutions will be subject to dual or triple regulation.
Better Credit Blog
AUGUST 31, 2020
If you have started hearing from a company called Convergent Outsourcing, it means that you are being pursued for a debt. Besides being annoying and aggressive, debt collectors like Convergent Outsourcing can have a major impact on your credit score. Validate the Debt. What is Convergent Outsourcing? Know Your Rights.
Better Credit Blog
SEPTEMBER 18, 2020
This means that they have either been hired by your old creditor or have acquired the debt from them to profit on your payments. Either way, CACH LLC will need to open a collections account on your credit report in order to legally pursue payment. Collection accounts are a black mark on your credit report. What is CACH LLC?
Better Credit Blog
AUGUST 31, 2020
ConServe is a debt collection agency that may contact you regarding unpaid debts. They are a third-party debt collector, which means that they may be hired by your original creditor, or they may purchase your old debt on the chance that you pay them instead. Validate the Debt. Negotiate a Settlement.
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