Collection Industry News
JUNE 5, 2022
The Consumer Financial Protection Bureau (CFPB)’s decision to establish supervisory powers over nonbank financial institutions will level the playing field and subject those companies to much-needed scrutiny, credit union trade groups informed the agency Tuesday. Response From Credit Union Trade Groups.
Troutman Sanders
SEPTEMBER 21, 2023
While that outcome appears unlikely under the current Democratic administration, letters submitted to Congress by banking and credit union trade groups supporting the joint resolution do appear to confirm the nearly unanimous industry opposition to the Final Rule. But the clock is ticking.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Troutman Sanders
AUGUST 15, 2023
This filing comes just three days after CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the CFPB urging it to stay enforcement and implementation of the Final Rule for all covered financial institutions until after the U.S.
Troutman Sanders
OCTOBER 27, 2023
In a major victory for small business lenders, yesterday the U.S. The court stated the purpose of § 1071 of the Dodd-Frank Act, “is the equal application of lending laws to all credit applicants to avoid disparate outcomes, and it presumes uniform application to all covered financial institutions absent exemption by the Bureau.
Credit Corp
SEPTEMBER 13, 2023
This means that consumers with the strongest credit scores tend to have a mix of accounts. If your goal is to build or maintain great credit, you’ll want to get and keep different types of credit accounts. One reason that lenders look at credit mix is to make sure that you can be responsible with multiple types of credit.
Better Credit Blog
MAY 17, 2022
The auto loan industry is quite a diverse one, and loan terms can vary considerably from one lender to another. Many lenders will provide 100% financing, but others may require down payment as high as 20% of the value of the vehicle. Auto dealers use subprime auto loans to get those with poor credit histories into cars.
Troutman Sanders
JANUARY 5, 2023
On January 4, Colorado Attorney General Phil Weiser announced that his office had reached settlements with Bellco and Canvas credit unions which will provide $4 million in refunds of unearned guaranteed automobile protection (GAP) premiums to consumers that the credit unions failed to provide previously. Chris Carlson.
Expert insights. Personalized for you.
75 
Let's personalize your content