Collection Industry News

JANUARY 24, 2022

On January 18, the CFPB filed a proposed final judgment against an Illinois-based third-party payment processor BrightSpeed Solutions and its founder Kevin Howard (collectively, “defendants”), which ceased operations almost three years ago, settling claims that the defendants facilitated payments for telemarketing fraudsters targeting seniors.

Judgment 40

Judgment Acquisition Law Firms Financial Institution 40

Jimerson Firm

JUNE 28, 2021

If the lender is successful, the lender will receive a final judgment of foreclosure from the court and the property will be sold at a public auction. If the borrower fails to timely file a motion for rehearing, or a motion for rehearing has been denied, the unsuccessful borrower can appeal the final judgment of foreclosure.

Foreclosure 90

Foreclosure Lender Judgment Banks 90

Troutman Sanders

SEPTEMBER 25, 2023

On September 20, the Senate Banking, Housing, and Urban Affairs Committee held a hearing on artificial intelligence (AI) in financial services. Increasingly, banks, brokers, and insurance companies are employing AI to process data, decide who can get a loan, and tailor financial products to customers. For more information, click here.

Financial services 52

Financial services Loans Banks Debt collector 52

Troutman Sanders

MARCH 11, 2024

Senator Lummis, a vocal supporter of Bitcoin, has been more critical of stablecoins, particularly Tether, and has opposed central bank digital currencies. The report found that the CFPB’s Office of Supervision Examinations (OSE) does not have a formal policy that requires bank examiners to rotate assignments in a specified time frame.

Financial services 52

Financial services Garnishment Lender Banks 52

Troutman Sanders

NOVEMBER 15, 2022

Director Chopra discussed potential resolutions on the hypothetical failure of three categories of systemically important financial institutions: (1) domestic systemically important financial institutions; (2) nonbank systemically important financial institutions; and (3) global systemically important banks.

Financial services 52

Financial services Student loans Student Loans Trade 52

Troutman Sanders

MAY 2, 2023

The bill additionally leaves room for assets that don’t fit neatly into either category. Senate Committee on Banking held a full committee hearing, titled “Oversight of the Credit Reporting Agencies.” The guidance also describes practices that may assist banks with managing overdraft protection program risks.

Financial services 52

Financial services Trade Consumer Credit Government 52

Better Credit Blog

JANUARY 5, 2021

While CBNA Sioux Falls might be an unfamiliar name, it represents Citibank, a national provider of banking services and credit cards. If the name is on your credit report, it’s most likely because you applied for a credit card from the bank. Citicards come in several categories, including: 0% APR. Balance transfers.

Loans 52

Loans Banks Repossession Lender 52