Collection Industry News

JUNE 5, 2022

Source: site. 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. “These business models of nonbank providers often rely on avoiding accountability and prudent regulation,” Alexander Monterrubio, senior director of advocacy and counsel for consumer protection at the Credit Union Natio

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Collection Industry News

JUNE 5, 2022

Source: site. On May 26, 2022, the North Carolina Attorney General (NC AG) announced that it obtained a default judgment against a California-based debt settlement business, and its proprietor. The lawsuit, filed on June 25, 2021 in the North Carolina Superior Court for Wake County, alleged that the entity violated North Carolina’s Debt Adjusting Act, N.C.

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Collection Industry News

JUNE 5, 2022

Source: site. Panthers owner David Tepper, the league’s wealthiest owner, has filed Chapter 11 bankruptcy through his company, GT Real Estate Holdings LLC, according to a report from Joseph Person and Daniel Kaplan of The Athletic. Per the report, Tepper’s real estate company went bankrupt following the issues related to the team’s new facility slated for Rock Hill, S.C.

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Collection Industry News

JUNE 5, 2022

Source: site. The Biden administration announced on Wednesday that the Education Department has approved billions of dollars in new student loan forgiveness for borrowers defrauded by Corinthian Colleges. The Education Department characterized the action as “the largest single loan discharge the Department has made in history.” The relief will be also be provided automatically for eligible borrowers.

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Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

Collection Industry News

JUNE 5, 2022

Source: site. In the first indication that President Joe Biden could be preparing to cancel student loan debt, the administration is prepared to wipe out nearly $6 billion owed by hundreds of thousands who attended a for-profit college chain, a possible trial balloon for the wider loan forgiveness that Democrats have been clamoring for. On Wednesday, around 560,000 borrowers who racked up debt while attending the now-defunct Corinthian Colleges got the good news that their debt is being erased,

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