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.

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Financial Institution Fair Debt Collection Financial services Law Firms 97

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.

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Collections Financial Institution Lender Creditors 98

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 98

Collections Financial Institution Lender Creditors 98

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.

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Troutman Sanders

APRIL 6, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Caleb Rosenberg and Josh McBeain as they discuss a string of recent developments in small business financing at both the state and federal level, including the CFPB’s small business data collection rule and the regulations under state disclosure laws.

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Fico Collections

JULY 19, 2021

Lenders face a myriad of challenges these days. A pooled model is a scoring model built on “pools” of historical data from many financial institutions. No data is required from the customer because it’s built on pools of historical data from other financial institutions. What Is a Pooled Model?

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True Accord

MAY 19, 2021

Ohad Samet, CEO and cofounder of TrueAccord Group, has been named to the inaugural debt collection advisory committee of the California Department of Financial Protection and Innovation (DFPI). I look forward to working with this group representing diverse stakeholders in the debt collection industry,” said DFPI Commissioner Manuel P.

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Katabat

NOVEMBER 20, 2019

12, 2019 — Katabat, a leading global supplier of debt management software solutions, has launched Easy Collect, a powerful, yet easy to deploy, mobile payment portal for lenders and debt collection agencies. Easy Collect is PCI-compliant and does not require IT support for deployment. WILMINGTON, Del.,

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Qualco

NOVEMBER 7, 2023

Managing loan portfolios becomes a labyrinth for financial institutions in a financial ecosystem marked by unrelenting complexity and constant change. Consequently, financial institutions operate within an economy marked by contraction and sustained inflationary pressures.

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True Accord

FEBRUARY 8, 2021

Courtney’s experience as a People leader within high-growth technology companies will be instrumental in helping TrueAccord scale while maintaining a strong people-first culture,” said Ohad Samet, CEO and co-founder of TrueAccord Group. “We In my experience, that’s often when the ‘magic’ happens,” said Courtney Graham. “I

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Financial Institution Financial services Lender Collections 97

Qualco

DECEMBER 7, 2021

In that context, lenders need to have access to state-of-the-art technology to avoid major losses. All those requirements can be addressed with ML, which has started to modernise the whole debt collections lifecycle. Debt collections have always implemented a reactive approach, by trying to gather losses after a customer defaulted.

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Debt Management Financial Institution Creditors Lender 97

Fico Collections

DECEMBER 9, 2021

For banks, credit unions, and other lenders, the sudden shift to digital-only interactions has introduced a variety of internal and external challenges, as well as some opportunities. The digital experience landscape will be different going forward – now it’s the battleground. It’s about customer experience and engagement.

Financial services 52

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Troutman Sanders

MARCH 1, 2023

The Arizona Court of Appeals recently clarified how the state’s debt collection statute of limitations applies to debt created by a land sale contract. A lender must enforce the debt through foreclosure or a lawsuit within six years after the cause of action accrues. In Velazquez v. FMZ Industries, Inc.

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True Accord

AUGUST 3, 2021

Digital-first debt collection fintech readies for continued B2B and B2C expansion with strategic leadership reorganization. With more than 20 years of financial and recoveries experience, along with her ability to navigate complex regulatory environments, Monroe has been a key driver of TrueAccord’s growth and execution.

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Payment Savvy

SEPTEMBER 5, 2024

Hence, it provides an alternative source for improving fundraising among underserved peer-to-peer and business borrowers and enhances their financial health and freedom. The approach provides readily available information for lenders to safely provide capital for their large set of borrowers.

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Financial Institution Banks Financial services Loans 52

FFGN COLLECT NY

SEPTEMBER 23, 2022

Merchant cash advance agreements are drafted in a way that offers an advantage to the lender. In the past, merchant cash advance companies and other lenders required their clients to sign a confession of judgment that could, in the event of default, be entered in New York without any further notice if and when the default occurred.

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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.

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Fico Collections

MAY 12, 2022

Gualtieri, who specializes in the areas of artificial intelligence, predictive analytics, and emerging technologies, explained the very clear shift that has occurred as financial institutions went from “having a digital channel, to needing to be digital first”. From Moneyball to Premonitions.

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Financial Institution Lender Banks Loans 52

Fico Collections

APRIL 12, 2023

Securitization is initiated when a financial institution pools together a group of assets. Asset-backed securities are initiated when a financial institution creates securities collateralized or backed by the cash flows generated from the underlying group of assets in the securitized pool.

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Lender Financial Institution Collateral Loans 52

Troutman Sanders

FEBRUARY 8, 2022

He also counsels on compliance issues including UDAP/UDAAP, credit reporting, debt collection and fair lending, and defending them in individual and class action lawsuits brought by consumers and enforcement actions brought by government agencies. Stefanie H.

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Collection Industry News

SEPTEMBER 14, 2021

The Consumer Financial Protection Bureau has recently come up with a rule that should help enhance transparency around loans for small businesses. The proposed rule would require lenders to collect and report all the relevant information about credit applications, such as pricing and demographic data, as well as the reasons for loan denial.

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Collection Industry News

JUNE 29, 2024

It involves qualifying and applying for a revolving credit line through a lender, usually a bank or other financial institution. Lenders grant a card with a specific credit limit based on a consumer’s credit rating, credit history, financial situation, as well as their relationship with the customer.

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Fico Collections

SEPTEMBER 3, 2020

We have served lenders in all industries, enhancing decisions with flexible strategies and rules, improving analytic sophistication, maximizing profitability, and delivering relevant, engaging customer experiences. Lenders and service providers need agile, future-proofed, extensible solutions for business users.

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Fico Collections

APRIL 21, 2023

Given the movement in the space, consumer-permissioned data seems like a no-brainer as the next generation of alternative data to round out lenders’ suite of existing sources. DDA data has the potential to be one of them for many lenders. Recent overdrafts or significant drops in deposits were strong indicators of financial stress.

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Lender Retail Financial services Financial Institution 52

Fico Collections

SEPTEMBER 15, 2022

The Saudi Credit Bureau (SIMAH) , a leader in credit bureau information management in the Middle East and North Africa (MENA), has administered the successful rollout and adoption of the FICO® Score by lenders in the country, enabling millions more Saudi customers to receive loans from banks. Analytics Tailored To The Market.

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Fico Collections

MARCH 22, 2022

The pandemic impacted the financial situation of SME’s in various ways, including the need to suddenly adopt digital banking channels, arrange repayment deferrals and of course an increased need for lending; a need which is increasingly being targeted by new lenders offering a simplified digital lending process.

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Financial Institution Banks Loans Lender 52

Fico Collections

FEBRUARY 9, 2023

Looking at the bigger picture, banks, lenders, financial institutions, industry and commerce are all now facing the same challenges — on a macro scale. They’re also operating against an increasingly competitive backdrop amid consumer expectations for faster, smarter, suitably tailored and personalized experiences.

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Financial Institution Banks Loans Financial services 52

Fico Collections

FEBRUARY 12, 2023

Digital Banking: Humanizing the Customer Experience Darryl Knopp outlined the importance of delivering a banking experience that connects with the customer. When we look at customer experience, many of the leaders are startups and digital banks who rely making this a differentiator as part of their business model.

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Fico Collections

APRIL 28, 2023

government and financial institutions to implement significant guard rails and safety net programs for consumers such as the government stimulus, extended unemployment benefits, and payment accommodations. The level of impact will be determined by the sectors of the labor market that ultimately experience the most job losses.

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Student loans Student Loans Consumer Credit Lender 52

Troutman Sanders

JANUARY 26, 2023

In his practice, Chris regularly employs his prior regulatory experience to benefit clients who are interacting with and being investigated by state attorneys general. Caleb Rosenberg Caleb is an associate in the firm’s Consumer Financial Services Practice Group.

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Collection Industry News

JANUARY 24, 2022

On January 18, the CFPB filed a proposed final judgment against an Illinois-based third-party payment processor BrightSpeed Solutions and its founder Kevin Howard (collectively, “defendants”), which ceased operations almost three years ago, settling claims that the defendants facilitated payments for telemarketing fraudsters targeting seniors.

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Fico Collections

JUNE 7, 2022

For example, the interest rate hike will have an impact on the mortgage payments, and some consumers might face financial hardship or financial squeeze. These events will slow down global economic recovery and will put pressure on all aspects of the credit life cycle for issuers and lenders. See all Posts. Related posts.

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Qualco

APRIL 8, 2022

As we experience the peak in the rising cost of living, analysts warn that prices might take time to readapt to the pre-pandemic levels. The power that ML brings can analyse vast quantities of varied data types and recognise the patterns that give lenders the ability for an improved evaluation of risk.

Debt Management 52

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Fico Collections

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. TJ Horan reported on a key takeaway from the Aite Financial Crime Forum : lenders are serious about combining their fraud and financial crime protection systems.

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Re:Ceeve

JULY 16, 2020

Why does this matter to someone in debt collection or banking? Knowing them is the key to the future of debt collection and banking. Self-Service: While we have already covered the significance of self-service in debt collection in our previous post , this term carries a stronger connotation in the context of millennials.

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Fico Collections

FEBRUARY 7, 2023

While the BNPL product offers consumers some attractive features, it is essential that both lenders and consumers alike understand the potential impact these BNPL loans could have on consumers’ credit scores. The waiting period for unpaid medical debt collections to appear on credit reports will increase from six months to one year.

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Fico Collections

JUNE 22, 2022

As a result, consistently compelling online experiences are now a mandatory expectation. Now consumers expect the same level of innovation, customer experience and digital transformation from financial institutions. Customer expectations are evolving and continuing to evolve. We’re all an impatient lot.

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