Troutman Sanders

DECEMBER 28, 2023

On December 20, the Consumer Financial Protection Bureau (CFPB) and the Justice Department sued Colony Ridge, for allegedly operating an illegal land sales scheme and targeting Hispanic borrowers with false statements and predatory loans. For more information, click here. The new deadline is February 7, 2024.

Financial services 52

Financial services Credit Unions Credit Unions Banks 52

Troutman Sanders

AUGUST 24, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Fico Collections

MAY 27, 2021

FICO will present key insights gained from recent FICO® Resilience Index research and early lender adoption use cases across the consumer credit lifecycle at several key industry events starting later this month. To learn more, watch the recent Consumer Bankers Association webinar. by Sharon Tilley.

Lender 52

Lender Consumer Credit Financial services 52

Troutman Sanders

MAY 31, 2023

On May 23, the Consumer Financial Protection Bureau (CFPB) announced it had reached a settlement to resolve allegations that a large bank violated consumer financial protection laws and rules protecting individuals when they dispute credit card transactions. For more information, click here.

Financial services 52

Financial services Financial Institution Banks Trade 52

Credit Corp

AUGUST 18, 2021

It’s a tool that covers every aspect of your credit, all wrapped up with a bow on top. No matter what your credit score needs are, ExtraCredit provides tools that can help. More specifically, ExtraCredit offers five comprehensive tools that can get your credit to where you want it to go: The Benefits of Track It.

Lender 98

Lender Creditworthiness Loans Education 98

Direct Recovery

AUGUST 27, 2022

Consumers here, burdened by excessive amounts of debt, were having a difficult time keeping up before the recent surge in inflation. The statute of limitations for a debt varies dramatically from state to state, and California is known for having one of the most consumer-friendly approaches to debt-related legislation.

Lender 52

Lender Collateral Loans Debt collector 52

Credit Corp

FEBRUARY 22, 2021

mortgage delinquency rate (reported as 60-days past due) since 1979. consumers are enduring—including mortgage payment forbearance of foreclosure. Forbearance is the postponement of mortgage payments, or the lowering of monthly payments for a specified time period; it’s not loan forgiveness. What Is a Forbearance?

Foreclosure 52

Foreclosure Loans Lender Government 52

Fico Collections

SEPTEMBER 3, 2020

The UK’s financial watchdog is now calling on UK banks to continue to provide support to mortgage customers when the government-enforced payment holidays come to end next month. The FCA has told banks to offer a range of tailored repayment options to mortgage borrowers hit by coronavirus. .

Construction 52

Construction Debt collector Collections Banks 52

Direct Recovery

JANUARY 24, 2023

It has been widely reported this year that consumer prices have increased anywhere from 7-9% in every month of 2022. Consumers are getting hit everywhere they look, and there is no end in sight. Raising interest rates can also wreak havoc on anyone with an adjustable-rate mortgage or home equity line of credit.

Collections 59

Collections 59

Troutman Sanders

JULY 7, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

Fico Collections

AUGUST 16, 2021

Allowing consumers to demonstrate their regular rent payments will provide a proven indicator of positive financial behavior and will be a useful complement to the FICO ® Score in mortgage lending. There are 53 million consumers who don’t have sufficient data in the traditional credit bureau files to generate a credit score today.

Credit Bureau 52

Credit Bureau Lender Consumer Credit Trade 52

Credit Corp

JULY 25, 2021

is a good mortgage rate, the answer is that it depends. The Prime Rate Good Mortgage Interest Rates Good Car Loan Interest Rates Good Credit Card Interest Rates Good Personal Loan Interest Rates Good Student Loan Interest Rates. What Is a Good Mortgage Interest Rate? Mortgage rates are typically based on the prime rate.

Student loans 98

Student loans Student Loans Loans Lender 98

Credit Corp

JUNE 14, 2023

How Late Can You Be on a Mortgage Loan Payment? How Late Can You Be on a Mortgage Loan Payment? Mortgage loans often have grace periods too, so check your loan agreement. As with car loans, mortgage lenders usually don’t report late payments to the credit bureaus until you’re more than 30 days behind on a payment.

Repossession 83

Repossession Student loans Student Loans Lender 83

Credit Corp

MAY 23, 2021

You can also use a tool like Credit.com’s Credit Report Card or ExtraCredit to monitor your credit. ExtraCredit includes five helpful tools, which help you monitor, build, earn, protect, and restore your credit profile. Two tools in particular can help you avoid or combat identity fraud: Track It and Guard It.

Bankruptcy 98

Bankruptcy Financial Institution Lender Credit Bureau 98

Credit Corp

JANUARY 9, 2022

If you’re in the market for a financial tool that goes above and beyond traditional free credit monitoring, this just might be the chance you’ve been waiting for. We don’t want to toot our own horn, but it’s the most comprehensive financial tool out there. What Is ExtraCredit? With this feature, you get 28 of your FICO® scores.

Lender 98

Lender Consumer Credit Credit Card Debt Banks 98

Better Credit Blog

NOVEMBER 3, 2021

When you refinance a mortgage, you’re taking out a new loan with more favorable terms to pay off a mortgage you already have. For most borrowers, the best time to do this is when you can get an interest rate that’s lower than the one on your current mortgage. How soon you can refinance after taking out a mortgage.

Lender 52

Lender Loans Credit Unions Credit Unions 52

Troutman Sanders

MARCH 11, 2024

On March 4, the Small Business Administration (SBA) announced the next generation of the SBA’s Lender Match tool for small businesses to connect to capital through SBA’s network of approved banks and private lenders. If enacted, the bill would, among other things, prohibit medical debts from being reported on consumers’ credit reports.

Financial services 52

Financial services Garnishment Lender Banks 52

Troutman Sanders

AUGUST 2, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52

Collection Industry News

JUNE 19, 2023

In 2022, the CFPB’s fair lending work centered on the consumers and communities most affected by unlawful discrimination. Through our enforcement and examination activity, interpretive rules and advisory opinions, circulars, and other tools, we continue to make clear that fair lending must be a top priority for all financial institutions.

Financial services 40

Financial services Financial Institution Government Education 40

Fico Collections

SEPTEMBER 28, 2020

Most of the questions we have received center on the impact from accounts being newly reported in some form of mortgage payment accommodation (e.g., But in recent weeks, there is increasing focus on how FICO® Scores might shift as a result of consumers exiting mortgage payment accommodation programs. forbearance or deferment).

Loans 52

Loans Collections 52

Qualco

NOVEMBER 7, 2023

These individuals sought to counterbalance the cumulative impact of a rising cost of living and escalating mortgage interest rates. This fusion emerges from the recognition that both strategies are invaluable tools that should feature prominently in the arsenal of every financial institution. forclusion in France).

Financial Institution 95

Financial Institution Debtor Loans Collateral 95

Troutman Sanders

JANUARY 5, 2022

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 52

Financial services Judgment Trade Consumer Credit 52

Fico Collections

DECEMBER 5, 2022

A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8 million consumer fraud and 1.4 Yet along with digital adoption, FIs are also butting up against entrenched consumer thinking that creates security risks. These statistics are based on roughly 2.8

Banks 52

Banks Education Loans Financial Institution 52

Troutman Sanders

FEBRUARY 7, 2022

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 52

Financial services Collection Agencies Collections Agency Financial Institution 52

Fico Collections

JANUARY 19, 2023

It’s a move typified in the UK by the launch of the FCA’s Consumer Duty , which reinforces a host of customer safeguards. million UK households re-mortgage as their fixed-rate deals come to an end this year, heaping further pressure on budgets, as loan repayments rise due to the higher interest rates.

Banks 52

Banks Financial services Government Collections 52

Troutman Sanders

JULY 26, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 52

Financial services Student loans Student Loans Garnishment 52

Credit Corp

APRIL 11, 2021

One of the tools that lenders use to build that trust, among other things, is your credit score. 10% – Types of credit used – i.e. Credit Cards, Lines of Credit, Instalment loans, Car Loans, and sometimes even mortgages. Interest rates on a mortgage are very important as they’re based on a high amount of borrowing.

Lender 95

Lender Loans Student loans Student Loans 95

Troutman Sanders

MAY 10, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 52

Financial services Fair Debt Collection Foreclosure Debt collector 52

Troutman Sanders

JANUARY 23, 2023

Negative option programs include subscription services that automatically renew unless the consumer affirmatively cancels, as well as trial marketing programs that charge a reduced fee for an initial period and then automatically begin charging a higher fee. For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Government Banks 52

Consumer Financial Services Law

DECEMBER 17, 2016

This week, the CFPB introduced a new research tool, its Consumer Credit Trend Tool. According to the CFPB, the new tool’s purpose is to track originations of various consumer credit products. For now, the tool will focus on four credit products: mortgage, student loan, credit cards and auto loans.

Consumer Credit 40

Consumer Credit Student loans Student Loans Financial services 40

Troutman Sanders

JUNE 22, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

FEBRUARY 2, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

Financial services 40

Financial services Foreclosure Banks Debt collector 40

Debt RR

NOVEMBER 4, 2022

One of the tools it uses to influence the economy is setting the federal funds rate, which is the interest rate banks charge each other for overnight loans. When the Fed raises rates, it becomes more expensive for banks to borrow money, which in turn influences the rates they charge consumers and businesses for loans.

Debt Recovery 40

Debt Recovery Loans Banks Collection Agencies 40

Troutman Sanders

JANUARY 9, 2024

They allege that the dealer deceived consumers about the price of certified used cars, add-ons, and government fees. On January 2, the CFPB issued a report noting that during December 2023, it sent $6 million in financial relief to consumers harmed by illegal lending practices targeting veterans. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Debt collector 52

Credit Corp

APRIL 2, 2024

These tools can help you track the status of your credit as you work to repair it. Ideally, you should try to balance installment accounts, such as car loans and mortgages, with revolving credit accounts, including credit cards and lines of credit. That’s where Credit.com’s ExtraCredit ® comes in.

Bankruptcy 106

Bankruptcy Loans Lender Credit Bureau 106

Collection Industry News

JUNE 1, 2023

The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts. Governments and regulatory bodies continually strive to strike a balance between consumer protection and enabling efficient debt recovery.

Collections 40

Collections Collection Agencies Collections Agency Debt collector 40

Fico Collections

OCTOBER 28, 2022

Information and data continue to be key tools at our disposal to better understand the dynamics of the last couple of years, and better navigate what lies ahead for the Canadian consumer credit environment. Average FICO® Score 10.

Credit Card Debt 52

Credit Card Debt Consumer Credit Credit Bureau Lender 52