Account Recovery
AUGUST 21, 2020
Less than a month after suing one federal regulator, a group of state attorneys general filed suit yesterday against another one, seeking to block the implementation of a rule aimed at ensuring the terms of a loan remain valid after the loan has been sold to a non-bank entity, a key component when buying and … The post State AGs Sue FDIC Over (..)
Account Recovery
JANUARY 6, 2021
A group of eight state attorneys general filed suit yesterday in federal court in New York to block a rule that was issued by the Office of the Comptroller of the Currency that aimed to close a gap in the process of banks selling loans to third parties, such as debt buyers, arguing that the … The post States Sue Bank Regulator to Overturn ‘True (..)
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Account Recovery
FEBRUARY 14, 2022
A District Court judge in California has sided with the Office of the Comptroller of the Currency, a federal regulator of banks, after it was sued by three states — California, Illinois, and New York — for allegedly overstepping its authority when it issued a rule ensuring the terms of a loan remain valid after … The post Court Rules (..)
Account Recovery
JANUARY 18, 2022
A debt buyer has filed suit against Citigroup, accusing the mega-bank of a “classic ‘bait and switch’ ” by promising to sell delinquent credit card portfolios containing accounts with certain characteristics, but instead putting accounts into the portfolios that had a much lower chance of recovery.
Account Recovery
MAY 12, 2021
A repeal of a rule that aimed to close a gap in the process of banks selling loans to third parties is a step closer toward its objective and the White House yesterday indicated that should the repeal make it to the desk of President Joe Biden, he will likely sign it into law.
Account Recovery
APRIL 7, 2021
CHICAGO — April 6 — CMS Services, a leading provider of compliance management services to the Accounts Receivable Management industry, is excited to announce the launch of its Bank Terms & Conditions portal, providing copies of the terms and conditions issued by hundreds of credit grantors and financial institutions nationwide from (..)
Katabat
JANUARY 24, 2020
The conference, occurring February 3–6, 2020, brings together key participants in the receivables management industry, including debt buying companies, collection agencies, collection law firms, brokers, originating creditors, and affiliates.
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