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Collection Industry News
JANUARY 10, 2022
The CFPB recently issued its Fall 2021 Supervisory Highlights , discussing findings from its examinations in connection with credit card account management, debt collection, fair lending, mortgage servicing, deposits, prepaid accounts, and remittance transfers. Debt Collection. Source- site. Remittance Transfers. Prepaid Accounts.
Credit Corp
MAY 23, 2021
Incorrect Personal Information Lender Inquiries You Don’t Recognize Accounts You Never Opened Credit Utilization Goes Up Credit Score Goes Up or Down Unexpectedly Public Records You Don’t Recognize. Warning Sign 2: Lender Inquiries You Don’t Recognize. Negative public records can substantially impact your creditworthiness.
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Credit Corp
MARCH 7, 2021
Online lenders make it easy to compare rates and terms and find the right online personal loan for your situation. That is, the lender advances you money that you pay back with interest over a predetermined period of time. This often allows digital lenders to streamline the applications. Benefits of Online Personal Loans.
Troutman Sanders
OCTOBER 24, 2023
The proposed Personal Financial Data Rights rule activates a dormant provision of law enacted by Congress more than a decade ago. It would jumpstart competition by forbidding financial institutions from hoarding a person’s data and by requiring companies to share data at the person’s direction with other companies offering better products.
Troutman Sanders
JUNE 22, 2021
Federal Activities: On June 18, the Federal Housing Administration (FHA) announced updates to its student loan monthly payment calculations to help provide greater access to affordable single-family FHA-insured mortgage financing for creditworthy individuals with student loan debt, which has a disproportionate impact on people of color.
The Kaplan Group
MAY 3, 2022
Depending on the loan type, you may need to meet some financial qualifications, including: Have a healthy credit score Demonstrate a solid business history (For new businesses) share a detailed business plan Potentially offer up collateral. They may even know about some local lenders that are happy to do business with veterans.
Consumer Financial Services Law
JANUARY 14, 2017
The CFPB took issue with: (a) the scores being marketed and represented as being the same scores lenders typically used to determine a consumer’s creditworthiness; and (b) the CRAs not adequately disclosing the monthly charges for the services if not cancelled during the free trial period.
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