Remove Credit Unions Remove Financial services Remove Retail
article thumbnail

Report: 2022 Trends for Financial Services

Fico Collections

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. Simply offering banking services through digital channels is not enough.

article thumbnail

Tips for Improving Your Credit: The Types of Accounts in Your Credit Report

Credit Corp

Auto Loans : Auto loans are issued by a bank, a credit union, or a company that specializes in automobile lending. Mortgage Loans: Mortgage loans are issued by a bank, a credit union, or a company that specializes in mortgage lending. You can get a personal loan from online lenders or from a bank or credit union.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On January 29, Acting Comptroller of the Office of the Comptroller of Currency (OCC) Michael J.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

District Court of the Southern District of New York denied bankrupt digital asset services company Celsius Network Inc.’s For more information, click here. For more information, click here. The consumer will then have a 90-day grace period to redeem account rewards in accordance with the program’s original terms and conditions.

article thumbnail

Impact of The GLBA on Collection Agencies

Nexa Collect

The GLBA covers any institutions that provide financial services, including : Handling loans. Providing financial advising. Career counseling (of those who are seeking employment with financial services). Credit union. Handling savings. Exchanging or transferring funds. Investing for others.

article thumbnail

Lenders Take Note: Federal Banking Agencies Issue Long-Awaited Community Reinvestment Act Final Rule

Troutman Sanders

The final rule retains several key aspects of the proposed rule issued in June 2022, such as flexibility in retail lending evaluations for banks with less than $600 million in assets and new data collection and reporting requirements for banks over $2 billion in assets. Provide clarity and consistency in the application of the regulations.

Banks 52
article thumbnail

Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion

Collection Industry News

Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Some cards — retail store cards, in particular — charge more than 30%, said Ted Rossman, industry analyst for CreditCards.com. Federally chartered credit unions have an 18% limit. Josh Hawley, R-Mo., For example, Sen.