Collections Consumer Credit Foreclosure Government 
Collection Industry News
MAY 18, 2021
Despite objections from CUNA and NAFCU, the House of Representatives passed the Comprehensive Debt Collection Improvement Act on Thursday. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans. Source: site. The bill, H.R. Maxine Waters (D-Calif.),
Better Credit Blog
FEBRUARY 15, 2021
Are collections accounts weighing heavily on your credit report? While missing a payment on one of your accounts might seem like a minor offense, it can have major consequences on your credit. If you’ve fallen behind on any of your accounts, you could find Fairway Collections on your credit report.
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True Accord
MARCH 31, 2022
The four key trends we’re studying are: resumed foreclosure activity, extensive medical bills, the end of child tax credits and historically high inflation. Add these all together and the financial outlook for consumers, especially those in debt, is scary. But there are silver linings, as well. million U.S.
Collection Industry News
AUGUST 17, 2023
The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel. Credit card balances increased by $45 billion, from $986 billion in Q1 2023 to a series high of $1.03 About 39,000 individuals had new foreclosure notations on their credit reports, a very small increase from the first quarter.
Troutman Sanders
JANUARY 30, 2023
In 2021, the Office of Comptroller of Currency (OCC) issued Interpretive Letters 1174 and 1179 , governing the permissibility of national banks to issue dollar tokens. On January 25, the Consumer Financial Protection Bureau (CFPB) released a blog post on consumer credit score transitions during the COVID-19 pandemic.
Troutman Sanders
MAY 2, 2023
Khan appeared before the House Appropriations Subcommittee on Financial Services and General Government to discuss its FY 2024 budget request and the agency’s ongoing work. Senate Committee on Banking held a full committee hearing, titled “Oversight of the Credit Reporting Agencies.” Government Money Market Fund.”
Collection Industry News
JULY 6, 2021
The new agenda lists two items as in the “final rule stage”: Debt collection. Due in part to the “societal disruption” caused by the COVID-19 pandemic, in April 2021, the CFPB issued a notice of proposed rulemaking (NPRM) that would extend by 60 days the effective date of Part I and Part II of its final debt collection rule.
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