Fico Collections
NOVEMBER 30, 2022
Profitability and Customer Financial Health in Retail Banking. In my recent Forbes article , I explored a vision for the future of retail banking where the customer’s complete financial wellness is at the center of decision making. For this, banks need a more robust model of financial wellness. FICO Admin.
Troutman Sanders
MARCH 31, 2023
On March 23, SB 1033 , An Act Concerning Various Revisions to the Banking Statutes, was given a favorable report by the Legislative Commissioners’ Office and sent to the Connecticut Senate. SB 1033 is sponsored by the House Banking Committee and, if passed, would take effect on October 1, 2023. Vehicle Installment Contracts.
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UK debt collections
MARCH 29, 2023
Liquidators have listed 61 creditors owed a combined total of £1.14m after luxury car retailer Autovogue slipped into liquidation this month. A statement posted via the Autovogue website at the time apologised to customers and listed a number of reasons for the business’s failure.
Troutman Sanders
OCTOBER 25, 2023
The CRA was enacted in 1977 to address systemic inequities in access to credit and encourages banks to meet the credit needs of the entire community, including low- and moderate-income (LMI) communities, consistent with safety and soundness principles. The last meaningful, comprehensive revision to the CRA regulations occurred in 1995.
Troutman Sanders
DECEMBER 28, 2023
McDuffie introduced B 25-0609 , entitled the Protecting Affordable Loans Amendment Act of 2023, that proposes to opt the District of Columbia out of sections 521-523 of the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). export” their home state’s interest-rate authority).
Collection Industry News
JANUARY 10, 2024
banks warned of lower interest income for this year on Friday, capping a week of dour commentary from the industry that has been under pressure from high deposit costs. Rate cuts from the Federal Reserve later this year could ease some pressure on banks to raise deposit costs further. It also forecast average loan growth of 3% to 5%.
True Accord
OCTOBER 10, 2023
Economic stressors persist and are likely contributing to many consumers relying on credit to cover expenses, while the resumption of student loan payments adds another financial obligation to the mix. banking system seems sound, inflation remains elevated. After three years of relief from payments on $1.6 trillion in Q2, a 4.6%
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