CSA

DECEMBER 7, 2022

Council of EU and European Parliament announce provisional agreement on consumer credit directive. The Council of the EU and the European Parliament have announced that they have reached a provisional agreement on the consumer credit directive, which would repeal and replace the 2008 directive on consumer credit agreements.

Government 40

Government Consumer Credit Creditworthiness Financial services 40

Credit Corp

FEBRUARY 9, 2024

Credit.com’s free credit report card tool can help you better understand your current creditworthiness and which factors you need to work on to help you improve your standing. While individual lenders may care that a credit counseling agency is repaying your accounts, FICO does not.

Credit Counselor 52

Credit Counselor Debt Consolidation Debt settlement Bankruptcy 52

Collection Industry News

MAY 18, 2021

In a letter sent to the leaders of the House and Senate , CUNA President/CEO Jim Nussle stated his objections to section 403 of the bill, which would amend the Fair Credit Reporting Act to prohibit credit scoring models from treating certain medical debt information on consumers’ credit report as a negative factor.

Lender 40

Lender Foreclosure Collections Debt collector 40

FDCPA Defense

MAY 6, 2014

In its Bulletin issued in July 2013 , the CFPB took the position that creditors, debt buyers and third-party collectors often make representations to consumers about credit-related issues in order to persuade them to pay. Credit Bureau of Georgia, 555 F. See, e.g., Wright v.

Creditworthiness 40

Creditworthiness Debtor Debt collector Consumer Credit 40

Collection Industry News

JANUARY 25, 2023

UK Credit Card Borrowing Soars to Highest Monthly Level Since 2004 Credit card borrowing in the UK soared in November to its highest monthly level since 2004 amid mounting pressure on households from the cost of living crisis.

Banks 40

Banks Credit Card Debt Creditworthiness Financial Institution 40

Troutman Sanders

MAY 9, 2023

Among other things, the bill prohibits student loan servicers from: (1) directly or indirectly employing any scheme, device, or artifice to defraud or mislead student loan borrowers; (2) engaging in any unfair or deceptive practice toward any person or misrepresent or omit any material information involving the servicing of a student education loan, (..)

Financial services 52

Financial services Student loans Student Loans Loans 52

Consumer Financial Services Law

JANUARY 14, 2017

Instead, the orders are focused on the CRAs’ marketing of credit related reporting services. According to the Consent Orders, the CRAs marketed and sold consumers credit scores and credit related products.

Lender 40

Lender Creditworthiness Financial Institution Education 40

Troutman Sanders

APRIL 15, 2022

The Small Business Administration also has committed to ensuring credit access and a vested interest in accurate credit reporting and underwriting. Support Veterans in Financial Hardship: The Veterans Administration (VA) will virtually cease reporting unfavorable debt, including medical debt, to consumer reporting agencies.

Consumer Credit 52

Consumer Credit Creditworthiness Debt collector Education 52

Credit Corp

SEPTEMBER 7, 2020

Lenders use a multitude of scoring methods to determine your creditworthiness and make decisions about whether or not to give you credit. It gathers credit reports from the three major credit bureaus and analyzes anonymous consumer data to generate a scoring model specific to each bureau.

Credit Bureau 116

Credit Bureau Lender Loans Creditworthiness 116

FDCPA Defense

NOVEMBER 10, 2015

A furnisher may deem a dispute to be “frivolous or irrelevant,” however, if the consumer fails to provide the furnisher with sufficient information to investigate. See 16 C.F.R. See 15 U.S.C. 1681s–2 (a)(8)(F)(i)(I); 16 C.F.R.

Debt Consolidation 40

Debt Consolidation Creditworthiness Fair Debt Collection Law Firms 40

Collection Industry News

APRIL 12, 2021

One of the more fascinating platform items of the Biden presidential campaign was the idea of transferring consumer credit ratings from Equifax (NYSE: EFX), Experian PLC (OTC: EXPGY) and TransUnion (NYSE: TRU) to a public registry under the Consumer Financial Protection Bureau. Source: site.

Creditworthiness 74

Creditworthiness Student loans Student Loans Lender 74

Troutman Sanders

OCTOBER 24, 2023

Among other provisions under the stipulated order, the for-profit school must request that consumer reporting agencies delete the debt from consumers’ credit reports. The FTC also alleges that the for-profit school encouraged students to use income-share agreements to pay for the school. For more information, click here.

Financial services 52

Financial services Creditworthiness Banks Government 52