Consumer Finance
DECEMBER 19, 2022
CFPB is ordering Wells Fargo Bank to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty for legal violations across several of its largest product lines.
Nerd Wallet
FEBRUARY 3, 2022
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. One of the easiest ways to manage your money better this year is to hit the follow button on. Alana Benson writes for NerdWallet.
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Sawin & Shea
JULY 6, 2022
A common question we receive from those considering bankruptcy is how it impacts personal guarantees. Some situations in which someone may sign a personal guarantee before filing bankruptcy include assisting a friend or family member in receiving a loan, and a business owner may sign a personal guarantee in order to secure funds for their company. If you’re considering filing for bankruptcy, you need to consult with a bankruptcy attorney before signing a personal guarantee.
True Accord
FEBRUARY 23, 2022
Most Americans are in enough credit card debt, they would do anything to go back in time and change the outcome of their financial situation, according to new research. A survey of 2,000 general population Americans examined how they tackle their financial hurdles and found the average person owes $3,083 to credit card debt. Many respondents shared their financial regrets over the years, from not setting up a retirement plan when they were younger (51%), to not paying close attention to their cr
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Better Credit Blog
APRIL 4, 2022
If you are like most people, you have dealt with or are currently dealing with debt collectors. I’ve been preaching about the dangers of debt collectors for years and get countless emails from readers who end up in trouble by answering the phone when a debt collector calls. So, how should you deal with debt collectors? Here are some specific things you should keep in mind if you end up on the phone with a debt collector.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
UK debt collections
FEBRUARY 9, 2022
Whilst the UK struggles to recover from the pandemic , its never been a better time for Businesses to use a Debt Collection Agency. Debt Collection Agencies do not just act for Businesses, there are many Debt Collection Agencies for individuals also. It is said that there was a 6% rise in Corporate debt due to the pandemic and thousands of Small Businesses in the UK have been left with a tide of unpaid invoices.
Credit Corp
NOVEMBER 29, 2022
Did you know that financial behaviors are set by age seven ? Even if a student is receiving a financial literacy education in school, they’re likely not learning important lessons like budgeting, saving, investing, and managing income until high school. By then, they’re already facing tough decisions about how to spend their first paycheck and determining how to afford higher education.
Public Citizen
MAY 13, 2022
by Paul Alan Levy. The effort by the Watch Tower Bible and Tract Society (a/k/a Jehovah’s Witnesses) to identify a dissident member, "Kevin McFree ," through a spurious claim of copyright infringement has ended with a whimper rather than a bang as Watch Tower agreed to dismiss its copyright lawsuit with prejudice to avoid a possible claim for attorney fees.
Troutman Sanders
APRIL 26, 2022
On April 25, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it would begin invoking a provision in Dodd-Frank, previously used only infrequently, to conduct supervisory examinations over a greater number of nonbank financial companies that may “pose risks to consumers.”. Under Dodd-Frank, the CFPB has authority to examine three categories of nonbank entities: Nonbank entities that offer or originate mortgages, private student loans, and payday loans, regardless of the n
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Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
Prosperity Now
FEBRUARY 23, 2022
The House-passed version of the Build Back Better Act , an expansive and ambitious piece of legislation aimed at shoring
Consumer Finance
MAY 2, 2022
Numerous student loan borrowers recently submitted complaints to the Consumer Financial Protection Bureau (CFPB) about companies that promised them student loan forgiveness or loan forbearance in exchange for fees amounting to hundreds or thousands of dollars. Borrowers believed they were talking to their servicer or a company authorized by the Department of Education because they often knew private information such as the borrower’s loan balance or recent consolidation activity.
Nerd Wallet
AUGUST 17, 2022
Rising prices (i.e., inflation) are everywhere you look — on the news, at the pump and in the grocery store. We notice these changes when we reach for our wallets, but it’s difficult to grasp what an extra dollar here or several dollars there mean over the course of several weeks, months or an entire. Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.
Sawin & Shea
SEPTEMBER 14, 2022
When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. Your consumer and non-consumer debts impact your ability to file Chapter 7 bankruptcy, and your debt types also determine what’s protected by an automatic stay when filing Chapter 13 bankruptcy. If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, consider enlisting the help of skilled bankruptcy attorneys.
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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.
True Accord
NOVEMBER 8, 2022
LENEXA, Kan., Nov. 8, 2022 — TrueAccord Corp , a debt collection company using machine learning-powered digital recovery solutions to improve consumer experience, today announced it joined the Visa Fintech Partner Connect program. Through Visa Fintech Partner Connect, TrueAccord is Visa Ready certified. This certification helps technology companies build and launch payment solutions that meet Visa’s global standards around security and functionality.
Better Credit Blog
APRIL 1, 2022
It’s smart to know how to remove negative items from your credit report, especially if you are soon to be applying for a mortgage or car loan. In fact, you can remove something from your credit history before seven years pass. Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly.
PBWT
MAY 22, 2022
In the world of cryptocurrency, exchange platforms act as intermediaries allowing investors to buy and sell assets while making money through commissions and transaction fees. Any assets purchased may be held in either non-custodial or custodial wallets. If a customer chooses a custodial wallet, the platform holds and manages the assets through a private key, which is a string of characters that serves as a password.
UK debt collections
MAY 16, 2022
Business CCJs in Scotland saw a fifty two per cent (52%) increase in decrees and judgments against them in the first quarter of 2022. This huge rise is in comparison with the same period last year, 2021. The total value of these judgments also rose by a massive 269%. The total value of judgment debt went from just under £2.1m to more than £8m. Registry Trust , the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK & Ireland, has released its la
Speaker: Lynnette Khalfani-Cox, The Money Coach®
Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?
Consumer Finance
MAY 4, 2022
The Consumer Financial Protection Bureau (CFPB) finalized an enforcement action against Bank of America for processing illegal, out-of-state garnishment orders against its customers’ bank accounts.
Consumer Finance
JUNE 22, 2022
Today, the Consumer Financial Protection Bureau (CFPB) issued a final rule to help survivors avoid some of the financial consequences of human trafficking. The CFPB has established, among other things, a method for survivors of trafficking to submit documentation to credit reporting companies that identifies any adverse item of information that resulted from human trafficking.
Consumer Finance
JULY 11, 2022
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit today accusing payday lender ACE Cash Express of concealing free repayment plans from struggling borrowers. Because of ACE’s illegal practices, individual borrowers paid hundreds or thousands of dollars in reborrowing fees, when they were in fact eligible for free repayment plans.
Consumer Finance
MAY 15, 2022
Today, the Consumer Financial Protection Bureau (CFPB) published a report examining mortgage servicers’ responses to the COVID-19 pandemic. The data, collected across 16 large servicers from May through December 2021, reveal homeowners continue to face significant risks and challenges connected to working with their mortgage servicers.
Speaker: William Hord, Vice President of ERM Services
A well-defined change management process is critical to minimizing the impact that change has on your organization. Leveraging the data that your ERM program already contains is an effective way to help create and manage the overall change management process within your organization. Your ERM program generally assesses and maintains detailed information related to strategy, operations, and the remediation plans needed to mitigate the impact on the organization.
Nerd Wallet
AUGUST 29, 2022
Your bank plays a role in climate change through its lending and other actions. But is your bank making a positive environmental impact? It can be hard to know. Through their messaging, banks sometimes paint a greener picture of their impact on the climate than what their holdings or other factors indicate, a process known. Spencer Tierney writes for NerdWallet.
Nerd Wallet
JULY 28, 2022
The latest Mega Millions lottery jackpot has passed $1 billion for only the third time in the lottery game’s 26-year history. That’s, well, a lot of money. How much? Here’s one way to think about it: Let’s say you’ve just scored a dream salary of $1 million a year. Go, you! So, at that blistering. Rick VanderKnyff writes for NerdWallet. Email: rvanderknyff@nerdwallet.com.
Nerd Wallet
AUGUST 24, 2022
After months of rumor and speculation, President Joe Biden announced the details on a broad vision for student loan debt repayment and debt cancellation on Wednesday. Through an executive order, federal student loan borrowers who meet income requirements will see $10,000 in debt canceled. If the borrower received a Pell Grant to attend school, the. Anna Helhoski writes for NerdWallet.
Nerd Wallet
JULY 13, 2022
Today’s housing market can feel like a dream killer. Rising mortgage rates, high home prices and a shortage of properties for sale deliver a one-two-three punch. If you’ve been knocked out of one too many deals and need a timeout, here’s how to regroup and keep the homeownership dream alive. Give yourself a break Given. Barbara Marquand writes for NerdWallet.
Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP
Did you know that 2021 was a record-breaking year for ransomware? The days of a “once in a while” attack against businesses and organizations are over. Cyberthreats have become a serious issue. With 495.1 million attacks, the threat marked a 148% increase compared to 2020 and was the most expensive year on record! As a result, data protection needs to be a concern for most banks, businesses, and information technology specialists.
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