data-research research-reports recent-changes-in-medical-collections-on-consumer-credit-records 
Collection Industry News
FEBRUARY 1, 2023
A new CFPB report estimates that medical collections tradelines declined by 37 percent between 2018 and 2022. Market Snapshot: An Update on Third-Party Debt Collections Tradelines Reporting” also found that medical debt constitutes a majority (57 percent) of all collections on credit reports.
Fico Collections
FEBRUARY 7, 2023
Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. million previously “unscorable” consumer files. Read the full post 2.
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True Accord
MARCH 31, 2022
It’s the end of the quarter and, as always, we at TrueAccord are looking at consumer debt trends that will impact our industry and beyond. The four key trends we’re studying are: resumed foreclosure activity, extensive medical bills, the end of child tax credits and historically high inflation. And it’s not just medical bills.
Troutman Sanders
DECEMBER 21, 2021
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit. State Activities.
Troutman Sanders
MARCH 8, 2021
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). 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.
Troutman Sanders
OCTOBER 9, 2023
On October 5, the Consumer Financial Protection Bureau (CFPB) announced the appointment of new members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council. For more information, click here. 364 et seq. For more information, click here.
Troutman Sanders
DECEMBER 4, 2023
On December 1, the House of Representatives approved a resolution to repeal a Consumer Financial Protection Bureau (CFPB) rule that mandated banks to gather data on loan applications from women-owned, minority-owned, and small businesses to help lenders identify business development needs and opportunities. on June 5-7, 2024.
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