Account Recovery

DECEMBER 16, 2022

One of the nation’s largest financial institutions has been ordered by a state court judge in California to pay $2 million after it was accused of violating the Rosenthal Fair Debt Collection Practices Act and the Fair Debt Collection Practices Act by making “harassing and annoying” debt collection calls to its customers.

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Fair Debt Collection Collections Financial Institution 246

Account Recovery

FEBRUARY 1, 2022

A District Court judge in Arizona has certified a class in a Telephone Consumer Protection Act case that alleged a financial institution made collection calls using an artificial or prerecorded voice to more than 1 million non-customers on their cell phones without first obtaining consent.

Financial Institution 235

Financial Institution Collections 235

Troutman Sanders

MAY 5, 2022

The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. Debt Collection. The CFPB alleges some financial institutions do not perform robust enough investigations of errors. Auto Servicing.

Financial Institution 52

Financial Institution Repossession Debt collector Lender 52

Nexa Collect

JUNE 21, 2023

Debt collection agencies are subject to various data security rules and regulations to protect consumer information. Fair Debt Collection Practices Act (FDCPA) : While primarily focused on the practices and behaviors of debt collectors, the FDCPA also contains provisions that protect consumers’ personal information.

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Collection Agencies Collections Agency Collections Financial Institution 130

Collection Industry News

MAY 9, 2022

The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. Debt Collection. The CFPB alleges some financial institutions do not perform robust enough investigations of errors. Auto Servicing.

Financial Institution 40

Financial Institution Repossession Debt collector Student loans 40

Account Recovery

DECEMBER 19, 2022

The Office of the Comptroller of the Currency, in conjunction with the Federal Financial Institutions Examination Council, on Thursday released revised procedures for how its examiners will examine financial institutions for their compliance with the Fair Debt Collection Practices Act, incorporating the changes from Regulation F into their review.

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Banks Financial Institution Fair Debt Collection Collections 244

Account Recovery

JUNE 28, 2021

As evidenced by a recently held webinar on AccountsRecovery.net, there are a lot more questions than answers about a soon-to-be-enacted medical debt collection law in Nevada.

Collections 147

Collections Financial Institution Healthcare 147

Fico Collections

MARCH 23, 2021

With the impact of COVID-19, banks and financial institutions are forced to accelerate the development and deployment of their digital capabilities as access to remote channels moved from choice to necessity. With that, the speed of continuous adoption is being seen not as an exception but rather the habit.

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Financial Institution Banks 52

Account Recovery

AUGUST 20, 2020

The Attorney General of Pennsylvania announced yesterday that it had entered into a voluntary agreement with a financial institution which will require the institution to stop engaging in what the AG described as “aggressive” debt collection practices.

Collections 147

Collections Financial Institution Banks Loans 147

Qualco

SEPTEMBER 12, 2023

A crucial initial step for financial institutions is to effectively categorise collaterals into primary segments such as residential and non-residential and secondary collateral subtypes including apartments, detached House, storehouses, parking, shop, plots, office, maisonette, land, industrial, hotel and other.

Collateral 102

Collateral Collections Financial Institution Loans 102

Account Recovery

FEBRUARY 14, 2024

There is yet another new startup in the industry that is using the power of artificial intelligence to help collect debts — Cambio, which is backed by Y Combinator, is leveraging AI to offer innovative solutions for both consumers and financial institutions.

Startups 130

Startups Financial Institution Banks Collections 130

Account Recovery

JANUARY 5, 2024

A trade group representing non-bank financial institutions that provide sales-based financing to businesses has filed a lawsuit against the Consumer Financial Protection Bureau claiming it has overstepped its authority by issuing a rule regulating how lenders must collect and submit data related to small business lending activities.

Financial Institution 130

Financial Institution Trade Lender Banks 130

FFGN COLLECT NY

MARCH 25, 2024

So that once a restraining notice is prepared, someone could go to the bank or other financial institution, etc., Want to learn more about New York Debt Collection? The post CNN interviewed Jocelyn Nager New York Debt Collection Lawyer appeared first on Frank, Frank, Goldstein & Nager.

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Account Recovery

JUNE 28, 2021

NEVADA REGULATOR ANSWERS QUESTIONS ABOUT NEW MEDICAL DEBT COLLECTION LAW As evidenced by a recently held webinar on AccountsRecovery.net, there are a lot more questions than answers about a soon-to-be-enacted medical debt collection law in Nevada.

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Financial Institution Collections 246

Account Recovery

DECEMBER 15, 2022

More than one-third of respondents to a survey conducted by the education arm of a financial institution are carrying medical debt, and 82% of those people are having problems paying it off, according to a report highlighting the survey’s findings.

Financial Institution 245

Financial Institution Education Healthcare Collections 245

Qualco

DECEMBER 7, 2021

Customers are becoming more sophisticated and the same goes with the solutions they expect from financial institutions. Challenging the status quo for debt collection. Beyond doubt, the old-style debt collections approach has long been outdated. Customer analytics-driven approach for next-generation collections.

Collections 92

Collections Financial Institution Financial services Lender 92

True Accord

JUNE 29, 2023

Let’s take a look at how the new updates to GLBA Safeguards Rule, how these security policies are important specifically for debt collection, and what best practices your business should follow to protect consumers’ data. Ready to collect more, faster from happier customers?

Collections 81

Collections Financial Institution Debt collector Debt Recovery 81

Qualco

NOVEMBER 30, 2021

The debt collections sector is facing several challenges, like many other sectors across Europe. Changing customer behavior due to the deterioration of their financial circumstances have led to an uptick in debt and collections activities as well. Control their cash collections and liquidity risk.

Collections 88

Collections Financial Institution Lender Creditors 88

Nexa Collect

APRIL 11, 2021

The debt collection industry has been through one of its most difficult periods in modern history, and the recovery looks slow and prolonged. A national and, at the same time, a global recession has been caused, not by financial crises, but rather by an unexpectedly devastating health issue.

Collections 130

Collections Collection Agencies Collections Agency Construction 130

Qualco

NOVEMBER 30, 2021

The debt collections sector is facing several challenges, like many other sectors across Europe. Changing customer behavior due to the deterioration of their financial circumstances have led to an uptick in debt and collections activities as well. Control their cash collections and liquidity risk.

Collections 85

Collections Financial Institution Lender Creditors 85

FFGN COLLECT NY

NOVEMBER 4, 2021

There is no state as liberal as New York when it comes to commercial debt collection and the enforcement of judgments against commercial entities. To ensure the best possible outcome, you’ll want to make sure you have a good collection attorney who knows how to maneuver through New York’s liberal enforcement policies.

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Judgment Enforcement Judgment Collections Financial Institution 98

FFGN COLLECT NY

AUGUST 22, 2023

Some people overnight payment to satisfy their debt collection claim. You will most likely be left with either filing a claim with your financial institution that issued the check or the financial institution that deposited the altered check. For more debt collection best practices, check out our other articles.

Collections 52

Collections Financial Institution Banks Creditors 52

Qualco

APRIL 18, 2024

Responsible debt collection practices have become vital for financial institutions looking to build trust, enhance customer relationships, and contribute to a fair financial landscape. At the same time , the collection landscape is undergoing a significant shift driven by the prevalence of digital channels.

Debt Recovery 52

Debt Recovery Financial Institution Fair Debt Collection Collections 52

Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. This Bulletin serves as an update to that non-exhaustive compilation of information.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

True Accord

JUNE 6, 2023

Where data has its own intrinsic value and where data breaches and cyberattacks are a risk for every business, the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA) provides financial institutions, including those in the accounts receivable management industry, with guidance on how to safeguard customer information.

Financial Institution 72

Financial Institution Credit Unions Credit Unions Accounts Receivables Management 72

Troutman Sanders

MAY 2, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield, Addison Morgan, and Josh McBeain for the first installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule.

Financial Institution 97

Financial Institution Fair Debt Collection Financial services Law Firms 97

FFGN COLLECT NY

MARCH 15, 2022

It’s important you verify the information contained in a debt collection affidavit before you sign it. An affidavit is sworn testimony used to support your debt collection case. Chase was one of 13 financial institution censured for robo-signing documents in support of debt collection suits and foreclosure.

Collections 98

Collections Judgment Financial Institution Foreclosure 98

FFGN COLLECT NY

APRIL 18, 2023

What happens to the money on deposit at the debt collection lawyer’s bank if that bank fails? Recent news could leave you wondering whether monies collected and deposited by your debt collection attorney on your behalf will be safe or at risk. on deposit at each financial institution.

Lawyers 52

Lawyers Banks Collections Financial Institution 52

UK debt collections

JULY 22, 2021

The UK’s leading High Street banks are strengthening their Debt Collection teams ahead of the emergency covid loan defaults. The UK’s four largest banks are said to have hired over 750 new Debt Collection staff to their debt recovery units in a major challenge facing them.

Collection Agent 83

Collection Agent Banks Loans Collections 83

Troutman Sanders

MAY 16, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield and Caleb Rosenberg for the second installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule.

Collections 52

Collections Law Firms Financial Institution Lender 52

Collections Law

APRIL 5, 2022

Perhaps your own business is trying to struggle through collecting overdue payments and you are wondering if there is something more you can do. You have more important aspects of your business to run, but you may not know at what point it becomes worthwhile to bring in a collection professional. What does a collection attorney do?

Collections 52

Collections Credit Unions Credit Unions Judgment 52

Troutman Sanders

SEPTEMBER 17, 2020

On September 15, 2020, after considerable delay and pursuant to a court settlement, the Consumer Financial Protection Bureau (CFPB) released its Outline of Proposals Under Consideration and Alternatives Considered for small business lending data collection rulemaking. Implementing a period for financial institutions to comply.

Financial Institution 52

Financial Institution Collections Lender Loans 52

Qualco

OCTOBER 6, 2022

Digital collections tools and self-service platforms are on the rise and have empowered lenders to work more efficiently with their customers. Due to the limited agents' experience and financial literacy, customers usually don't get a proper explanation for the plans they are proposed to follow.

Collections 52

Collections Financial Institution Lender Loans 52

Qualco

DECEMBER 7, 2021

Customers are becoming more sophisticated and the same goes with the solutions they expect from financial institutions. Challenging the status quo for debt collection. Beyond doubt, the old-style debt collections approach has long been outdated. Customer analytics-driven approach for next-generation collections.

Collections 52

Collections Financial Institution Financial services Lender 52

Fico Collections

FEBRUARY 1, 2021

However, that doesn’t mean that this acceleration has been evenly distributed across every company in the financial services industry, nor across every part of an individual financial institution. How would you rate yourself when it comes to your collections transformation? Capturing RFD - “Reason for Deferral”.

Collections 68

Collections Financial Institution Collection Agent Banks 68

Qualco

JANUARY 26, 2024

However, there are still disparities in implementing these laws across countries, with financial institutions facing challenges adapting to these diverse systems and managing the varying legal requirements and procedural intricacies across different jurisdictions. CLICK TO LEARN MORE

Financial Institution 52

Financial Institution Debtor Creditors Debt settlement 52

Qualco

JANUARY 26, 2024

However, there are still disparities in implementing these laws across countries, with financial institutions facing challenges adapting to these diverse systems and managing the varying legal requirements and procedural intricacies across different jurisdictions. CLICK TO LEARN MORE

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Financial Institution Debtor Creditors Debt settlement 52