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Big U.S. banks’ second quarter profits to tumble on higher bad loan reserves

Collection Industry News

banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession. Banks must factor the economic outlook into loan loss reserves under an accounting standard which took effect in January 2020. But bank executives have said more loans will go bad.

Banks 40
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Luxury Candle maker goes bust with huge unpaid business debts

UK debt collections

The company also faced having to repay a Covid Bounce Back Loan (BBL) of £69,730, from lender Funding Circle, and a Coronavirus Business Interruption Loan Scheme (CBILS) loan, provided by commercial finance company Nucleus, of £111,808. Luxus Home Fragrance was set up by James and Zuzana Debnam in 2015.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Small Business Administration (SBA) began implementing additional policies aimed at expanding small business access to capital by modernizing SBA’s signature 7(a) and 504 loan programs. Banks reported that lending standards are currently on the tighter end of the range for all loan categories. For more information, click here.

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Meet Our 2022 FICO Decisions Awards Judges

Fico Collections

He has successfully used data to solve complex business problems across the credit life cycle including customer engagement, origination journeys, line management and optimisation of collections strategy. Armando has over 15 years of experience in financial services with a specialization in credit products for large lenders.

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Top 5 Customer Development Posts of 2020: COVID and Beyond   

Fico Collections

In this category, COVID-19 was a pressing topic but didn’t dominate the discussion as it did in the Debt Collection & Recovery category. FICO Loan Origination Solution Awarded Best-In-Class. Here are our top 5 posts from 2020. #1. Transforming the Customer Experience: Telecommunications. Value of Cloud-Based Systems.

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Debt-Service Coverage Ratio: A Useful Financial Measurement for Assessing Future Debt Recovery

Debt RR

It’s how lenders measure an organization’s available cash flow to pay off debt obligations, essentially a credit score for a business. DSCR is just one of many metrics lenders use to determine an organization’s ability to pay, however, it’s the most important. Debt-service coverage ratio (DSCR) is a vital corporate finance tool.

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The Pandemic Is Accelerating Auto Dealers' Digital Transformation

Fico Collections

Rich Zellner: Customers have long researched new purchases online, but when coronavirus-related lockdowns started keeping people at home and out of showrooms, auto manufacturers and dealers quickly accelerated their digital transformation. Q: How has COVID changed the way that dealers sell cars? by Ken Kertz.