blog covid-19-the-cares-act-and-credit-reporting 
Collection Industry News
MARCH 8, 2021
PIRG) released a study – “Consumers In Peril” – that reviewed the public complaint database of the Consumer Financial Protection Bureau (CFPB) and found consumer complaints about financial grievances spiked during the COVID-19 pandemic year of 2020. On March 1, 2021, the United States Public Interest Research Group (U.S.
Troutman Sanders
JULY 27, 2020
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. State Activities. For more information, click here.
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Jimerson Firm
MAY 5, 2021
This blog points out certain considerations that small business owners and their advisors should be cognizant of when shuttering businesses with open PPP loans, including reputational impact and risk to federally held assets. By some estimates, however, up to 25% of small U.S. businesses still will not survive. Small Loan Default.
Fico Collections
JUNE 27, 2022
In the early months of the COVID-19 pandemic, FICO found that the FICO® Resilience Index was a strong predictor of the likelihood that a consumer would receive a loan accommodation (payment deferral, forbearance, etc.) following implementation of the CARES Act. following implementation of the CARES Act.
True Accord
JULY 16, 2020
The worldwide spread of COVID-19 has ushered in a wave of unprecedented health and economic uncertainty that has rippled through every aspect of life. Here are four key trends from the report: 1. Consumers chose to leverage CARES Act checks to pay off debts. rose by 10.5% rose by 10.5%
PDC Flow
MARCH 2, 2021
What if you have employees who are still at an office and get covid at work?” Covid-19 also opens businesses up to the possibility of wrongful death claims. There could be consequences for your agency if you don’t ensure employees are adhering to the Fair Credit Reporting Act. Katie Zugsay Esq. Negligence.
Fico Collections
JANUARY 8, 2021
In this category, COVID-19 was a pressing topic but didn’t dominate the discussion as it did in the Debt Collection & Recovery category. What kind of credit risk does she pose? Finding Business Opportunities From Covid-19. “Is Is COVID-19 ’the Turn’?” Here are our top 5 posts from 2020. #1.
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