Consumer Finance Watch

MARCH 27, 2020

NY DFS will consider, among other things, the adequacy of the process established by the Regulated Institution, the thoroughness of the review of the application, and the payment history, creditworthiness and financial resources of the borrower, in assessing whether a regulated institution has engaged in an unsafe or unsound practice.

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Credit Corp

MAY 23, 2021

Unauthorized credit card charges, bogus loan applications, missing money, and other financial violations make fraud a major nightmare. Tip: Sometimes, the name of a financial institution doesn’t precisely match the name of the company checking your credit. Warning Sign 6: Public Records You Don’t Recognize.

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Collection Industry News

JANUARY 10, 2022

Examiners also discovered that some servicers incorrectly disclosed transaction and payment information in borrowers’ online mortgage loan accounts. The CFPB noted that some financial institutions included language in their Terms of Use agreements that forfeited the consumer’s rights provided by EFTA and Regulation E.

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Credit Corp

AUGUST 3, 2020

Cardholders on these accounts are given a limit that’s unique to them, and it’s based on factors such as creditworthiness, income, and how long you have had an account. The credit limit might even fluctuate as you demonstrate continued or increased creditworthiness.

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Troutman Sanders

JUNE 22, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. financial institutions reported under the Home Mortgage Disclosure Act (HMDA). For more information, click here. On June 16, the U.S.

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Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

MAY 9, 2023

On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

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Financial services Student loans Student Loans Loans 52

Collection Industry News

JANUARY 25, 2023

The watchdogs told financial institutions to be wary of potential fraud, legal uncertainty and misleading disclosures by digital asset firms. There is rising concern among regulators and consumer advocates that the loans lack important customer protections and that borrowers may be getting in over their heads.

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Banks Credit Card Debt Creditworthiness Financial Institution 40

Fico Collections

JUNE 30, 2023

In this blog, I will explore how the secondary market values mortgage loans, the importance of FICO®Scores in that valuation, and how essential it is to have consistent and universal credit standards to accurately compare loans across time and lenders.

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Fico Collections

SEPTEMBER 6, 2021

I recently spoke with FICO’s Adam Davies about c ontextual intelligence , a new approach that banks, other financial institutions and telecommunications companies are embracing to prevent fraud and financial crimes.

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Banks Creditworthiness Financial Institution Loans 52

Credit Corp

JUNE 1, 2023

Pros and cons Pros Low first-year annual fee No credit score requirement Low minimum deposit Cons Annual fee *FICO scores and credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. This can be a bank or financial institution that maintains your account.

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Banks Creditworthiness Credit Card Debt Financial Institution 52