True Accord

AUGUST 11, 2022

In order to address this gap, lenders are in a unique position to help provide customers with educational content that not only improves customers’ financial literacy but helps with their own retention and acquisition strategies by building and maintaining customer trust and loyalty.

Acquisition 61

Acquisition Debt Recovery Education Student loans 61

Jimerson Firm

OCTOBER 22, 2020

Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing with hotel/restaurant mortgage defaults. 702.015(4) , Fla.

Foreclosure 94

Foreclosure Lender Judgment Collateral 94

Burr Forman

AUGUST 11, 2020

Charleston Partner George Morrison has been named a “Top Vote Recipient” in the Corporate Law, Mergers & Acquisitions section of the 2020 Legal Elite. He is involved in all areas of corporate practice, including entity formation, mergers and acquisitions, liquidations, reorganizations, and corporate governance.

Acquisition 40

Acquisition Lender Government 40

Fico Collections

MAY 11, 2021

Unable to pinpoint the sources of rapidly growing credit losses, lenders broadly and dramatically restricted access to credit by reducing new account originations, cutting unutilized exposure, and intensifying collections practices, often to the detriment of long-term growth, profitability, and customer loyalty.

Lender 52

Lender Acquisition Loans Collections 52

Fico Collections

MAY 11, 2021

Unable to pinpoint the sources of rapidly growing credit losses, lenders broadly and dramatically restricted access to credit by reducing new account originations, cutting unutilized exposure, and intensifying collections practices, often to the detriment of long-term growth, profitability, and customer loyalty.

Lender 52

Lender Acquisition Loans Collections 52

Fico Collections

DECEMBER 8, 2022

As seen during the Great Recession, lenders again applied broad-based responses to manage the anticipated delinquency and loss impacts, this time making much heavier investment of payment accommodations such as forbearance and deferral programs across multiple consumer asset classes.

Lender 52

Lender Acquisition Financial services Loans 52

Troutman Sanders

MARCH 22, 2021

OppFi) — a Chicago-based platform lender — announced that the Consumer Financial Protection Bureau (CFPB) is investigating its compliance with the Military Lending Act. And in March 2021, Oportun, another online consumer lender, disclosed that the CFPB is investigating its debt collection practices.

Acquisition 52

Acquisition Lender Loans Creditors 52

Fico Collections

FEBRUARY 1, 2023

Any lender that is fast to act in supporting customers is likely to win and retain a competitive advantage over less well-informed market peers. Regulators have been pressing for banks and lenders to ensure they’re working at the speed and scale of their market — or even faster. A cloud-based platform is vital.

Lender 52

Lender Credit Bureau Collections Acquisition 52

Collection Industry News

AUGUST 30, 2021

billion credit card portfolio from Synchrony Bank, as the British lender seeks to grow its U.S. The acquisition, which Barclays said is being financed from its existing resources, is estimated to reduce the bank’s core capital ratio by around 20 basis points. Source: site. Barclays said on Friday its United States arm will buy a $3.8

Acquisition 40

Acquisition Retail Banks Lender 40

Collection Industry News

JULY 4, 2022

Notably, companies licensed as lenders under the California Financing Law (CFL), or that hold other enumerated licenses under the California Consumer Protection Law are exempt from these regulations and the reporting requirements when acting under the authority of the held license.

Acquisition 40

Acquisition Law Firms Lender Bankruptcy 40

Hudson Weir

AUGUST 30, 2021

There’s arguably little other legal difference between this type of buyout and other acquisitions. For example, if there is a default on repayments, the lender could choose to convert to an equity interest in the business. A management buyout is a company acquisition by current managers at the business.

Debt Financing 52

Debt Financing Acquisition Loans Lender 52

Katabat

JANUARY 5, 2021

January 5, 2021, Wilmington, DE – Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today that it has acquired Simplicity Collection Software of Idaho Falls, Idaho. Terms of the transaction were not disclosed.

Collections 40

Collections Acquisition Collection Agencies Collections Agency 40

Katabat

JANUARY 5, 2021

January 5, 2021, Wilmington, DE – Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today that it has acquired Simplicity Collection Software of Idaho Falls, Idaho. Terms of the transaction were not disclosed.

Collections 40

Collections Acquisition Collection Agencies Collections Agency 40

Fico Collections

JULY 15, 2022

in 1989, it meant lenders of all sizes could leverage the technology of scoring and open up credit to consumers that they might not have lent to in the past. It means integrating new technologies into lenders workflows and operations. Hundreds of lenders in the U.S. When the FICO® Scores were introduced in the U.S.

Lender 52

Lender Education Acquisition Financial Institution 52

Fico Collections

DECEMBER 8, 2022

Such events cast many borrowers into uncomfortable territory, creating what may be a defining moment in the relationship between them and their lenders. Lenders who get the strategy right may earn a loyal customer for life, while those who misfire risk cannibalizing valuable long-term relationships that often span multiple asset classes.

Trade 52

Trade Lender Acquisition Collections 52

Fico Collections

AUGUST 10, 2022

It is one of the biggest challenges lenders face over the next few years. Lenders could no longer base decisions simply on a customer’s history of repaying. Lenders have refined and improved their affordability models over the years in adherence to regulatory requirements. Affordability is top of mind.

Lender 52

Lender Banks Loans Acquisition 52

Troutman Sanders

DECEMBER 30, 2020

This money will be used for Public Facilities in Polk County including, the acquisition of property for a congregate emergency shelter, improvements to publicly or nonprofit owned buildings, and the acquisition, construction, rehabilitation, or installation of public facilities. The $2,812,299.00

Acquisition 52

Acquisition Construction Banks Lender 52

Fico Collections

MARCH 8, 2021

That’s why FICO has been focused on finding new ways to demonstrate responsible financial behavior so that lenders can confidently extend credit to more consumers. . Over the past several years, we’ve helped lenders develop on-ramps to mainstream credit using alternative data for those seeking financial inclusion.

Lender 52

Lender Credit Bureau Acquisition Financial services 52

Burr Forman

SEPTEMBER 30, 2020

Erin is quoted in the Daily Report , “We were able to keep things moving, keep a positive trajectory on closing timelines and get lenders comfortable with the financial strength of the client to be able to close. Under the circumstances, that’s a huge win.”.

Unsecured Debt 40

Unsecured Debt Acquisition Debt Financing Lawyers 40

Re:Ceeve

JUNE 12, 2020

While this may still hold some relevance during the acquisition stage, debt collection has started to move in a different direction. In a fascinating article by McKinsey , it was revealed that more customer calling won’t improve lenders’ contact and recovery rates.

Collections 91

Collections Acquisition Retrieval Collection Agent 91

Jimerson Firm

JANUARY 12, 2021

Faulkner focuses on representing buyers and sellers in contract negotiations for the acquisition, sale and finance of both residential and commercial real estate throughout Northeast Florida. His practice also includes land use law, estate planning and corporate law.

Acquisition 52

Acquisition Law Firms Lender 52

Troutman Sanders

OCTOBER 18, 2022

Whether auto loan lenders may finance GAP waivers, GPS tracking systems, or other products that consumer advocates argue are credit-related is an open question. Lenders must avoid the heightened penalties imposed by the Act by ensuring compliance with the new law. No court order is required.

Loans 52

Loans Lender Closed-end credit Acquisition 52

Fico Collections

JULY 6, 2021

Such events cast many borrowers into uncomfortable territory, creating what may be a defining moment in the relationship between them and their lenders. Lenders who get it right may earn a loyal customer for life, while those who misfire risk cannibalizing valuable relationships that often span multiple products.

Lender 52

Lender Collections Acquisition Creditors 52

Collection Industry News

OCTOBER 27, 2023

Rite Aid also said lenders agreed to extend $3.45 Amazon closed its acquisition of primary-care provider One Medical in a $3.9 The company said it reached a deal with creditors on a restructuring plan that includes evaluating its retail footprint and closing underperforming locations.

Bankruptcy 40

Bankruptcy Retail Acquisition Lender 40

Collection Industry News

JANUARY 24, 2022

He represents banks, fintechs, mortgage companies, auto lenders, and other nonbank institutions in transactional, licensing, regulatory compliance, and government enforcement matters covering mergers and acquisitions, consumer and commercial lending, equipment finance and leasing, and supervisory examinations.

Judgment 40

Judgment Acquisition Law Firms Financial Institution 40

Burr Forman

MARCH 15, 2021

Erin has experience in all aspects of complex secured and unsecured debt financings, corporate mergers and acquisitions, and various sophisticated real estate transactions. She represents commercial and real estate lenders as well as real estate developers and tenants.

Lawyers 40

Lawyers Unsecured Debt Acquisition Debt Financing 40

Fico Collections

DECEMBER 8, 2022

Lenders must adopt a similar mindset as they manage the financial health of their consumer lending portfolios to insulate their existing assets from potential portfolio risk volatility. Of course, credit risk management is only one aspect of portfolio health.

Lender 52

Lender Acquisition Loans Collections 52

Fico Collections

JANUARY 8, 2021

FICO’s suite of interconnected Acquisition, Origination, and Growth capabilities for Telecommunications helps organizations do exactly that. If you’re interested in making smarter, faster acquisition and retention decisions, we’d love to talk with you. . #2. Finding Business Opportunities From Covid-19.

Acquisition 52

Acquisition Loans Financial Institution Lender 52

Collection Industry News

OCTOBER 21, 2022

The six largest lenders in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) made a combined $29.42 The lender set aside $370 million to cover the uncertainties affecting the economy, while net interest income grew 6% to $18.5 Citigroup Citigroup had profits of $3.5

Banks 40

Banks Lender Loans Acquisition 40

Fico Collections

DECEMBER 8, 2022

Building portfolio risk resilience into customer acquisition. During the highly uncertain time of the Great Recession, most lenders shifted management strategies by raising FICO® Score cut-offs significantly to achieve the same overall portfolio risk management profile for accepted applicants. FICO Admin. Thu, 12/19/2019 - 16:29.

Lender 52

Lender Acquisition Financial services Loans 52

Katabat

AUGUST 5, 2020

Katabat partners with lenders and collectors across multiple industries to stay at the cutting edge of debt management, machine learning, automation, regulatory compliance, and data security. To learn more about our full range of debt management products, contact Katabat at info@katabat.com.

Debt Management 52

Debt Management Collection Agencies Collections Agency Acquisition 52

Fico Collections

JUNE 11, 2021

Lenders must adopt a similar mindset as they manage the health of their consumer lending portfolios to insulate their existing book of business from potential risk volatility. As we discussed in part 1 of this blog series, FICO® Resilience Index (FRI) was designed with precisely this capability in mind.

Lender 52

Lender Acquisition Loans Collections 52

Collection Industry News

OCTOBER 21, 2022

LONDON, Oct 21 (Reuters) – Owners of Britain’s largest malls, skyscrapers and industrial hubs face hikes in borrowing costs and a recession that could depress prices by up to a fifth, forcing lenders and investors to reassess their appetite for commercial property. HSBC (HSBA.L) But the government’s Sept.

Retail 40

Retail Lender Loans Acquisition 40

Burr Forman

OCTOBER 13, 2020

As appetite to move forward with mergers and acquisitions grows, PPP borrowers and their potential acquirers, along with their respective advisors, have fretted over whether the SBA must consent to a transaction that would result in a change of ownership of a PPP borrower, a common event of default in many, if not most, PPP loans.

Loans 40

Loans Lender Trade Acquisition 40

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 lenders claimed that the rush appraisals, which led to the appraisal rush fees, were requested by consumers.

Financial Institution 52

Financial Institution Repossession Debt collector Lender 52

Re:Ceeve

JUNE 23, 2020

It’s the duty of a responsible lender to carry out proper credit checks and manage the accounts accordingly. According to Invesp , 44% of organisations place a greater emphasis on customer acquisition versus 18% who focus on retention. Consumerism and inflation are creating a reliance on loans.

Loans 78

Loans Banks Acquisition Collections 78

Consumer Financial Services Law

MAY 10, 2017

The consumer alleged BoA was a debt collector under the FDCPA because his “loan was in default prior to the transfer from his original lender Countrywide to Bank of America.” The acquisition by merger was a key factor for the court which also relied upon prior Fifth Circuit precedent, Brown v. Bank of America, N.A., Morris , 243 Fed.

Debt collector 40

Debt collector Acquisition Financial Institution Foreclosure 40