Account Recovery

FEBRUARY 13, 2025

The Consumer Financial Protection Bureau is being sued by the City of Baltimore and Economic Action Maryland Fund, challenging the administrations actions to defund the bureau. Whats happening: Whats at stake: Learn more.

Financial Institution 130

Financial Institution 130

Account Recovery

DECEMBER 16, 2024

Proposed amendments to New York Citys rules governing debt collection have drawn significant scrutiny from trade groups outside the collection industry, most notably the American Financial Services Association (AFSA), which submitted a comment letter last week regarding the proposed amendments.

Debt collector 130

Debt collector Collections Financial Institution Creditors 130

Account Recovery

JANUARY 18, 2023

If you are curious what the priorities of the House Financial Services Committee will be under new Chair Rep. look no further than the decision to change the Subcommittee on Consumers Protections and Financial Institutions to the Subcommittee on Financial Institutions and Monetary Policy. Patrick McHenry [R-N.C.],

Financial services 246

Financial services Financial Institution 246

Account Recovery

DECEMBER 19, 2022

The Office of the Comptroller of the Currency, in conjunction with the Federal Financial Institutions Examination Council, on Thursday released revised procedures for how its examiners will examine financial institutions for their compliance with the Fair Debt Collection Practices Act, incorporating the changes from Regulation F into their review.

Banks 244

Banks Financial Institution Fair Debt Collection Collections 244

Account Recovery

FEBRUARY 25, 2025

Data from a new survey from reveals a sobering yet opportunity-rich snapshot for credit and collection professionals and the broader financial ecosystem — amid persistent stress and rising consumer expectations, theres a clear desire for more seamless, data-driven experiences that reduce friction in the repayment process.

Financial Institution 130

Financial Institution Collections Agency Collection Agencies Collections 130

Account Recovery

APRIL 19, 2021

A bill has been introduced in the Senate that seeks to prohibit financial institutions from denying services to law-abiding businesses, such as companies in the accounts receivable management industry, as a means of ensuring crackdowns like Operation Choke Point never happen again. The legislation, S. 1088, was introduced by Sen.

Financial Institution 217

Financial Institution Accounts Receivables Management 217

Account Recovery

NOVEMBER 1, 2024

Adding insult to injury, the Consumer Financial Protection Bureau yesterday fined one of the nation’s largest credit unions $1.5 Why it matters: The action against VyStar Credit Union underscores the CFPB’s growing focus on the digital capabilities of financial institutions and their impact on consumers.

Credit Unions 130

Credit Unions Credit Unions Financial Institution Banks 130

Account Recovery

FEBRUARY 28, 2024

The California Department of Financial Protection & Innovation has fined a fintech company $2.5 million for not responding to consumer complaints in a timely manner that constitutes a violation of California’s Consumer Financial Protection Law, the DFPI said.

Financial Institution 264

Financial Institution Retail 264

Account Recovery

DECEMBER 23, 2024

By the numbers: Why it matters: This action underscores growing scrutiny of peer-to-peer payment systems and could signal tighter regulations ahead, directly impacting debt collectors and financial institutions that use these networks for payments.

Banks 130

Banks Financial Institution Debt collector 130

Account Recovery

JANUARY 22, 2025

Whether these trends will continue as the year progresses remains to be seen, but the impact on spending and debt repayment strategies will be crucial for businesses and financial institutions alike. Learn more.

Financial Institution 130

Financial Institution Collections 130

Account Recovery

JANUARY 29, 2025

the chairman of the House Financial Services Subcommittee on Financial Institutions, last week reintroduced H.R. 654, the Taking Account of Bureaucrats Spending (TABS) Act, aiming to bring the Consumer Financial Protection Bureau under the Congressional appropriations process. Andy Barr [R-Kent.],

Financial Institution 130

Financial Institution Financial services 130

Account Recovery

APRIL 8, 2022

A group of 18 state attorneys general sent letters to four of the largest financial institutions in the country this week, urging them to stop charging overdraft fees on consumers by this summer, and while the states did not make any threats in the letter about what would happen if the banks chose not to … The post AGs Call on Big Banks to End (..)

Banks 246

Banks Financial Institution 246

Account Recovery

OCTOBER 12, 2021

The Financial Institution Division (FID) of Nevada’s Department of Business and Industry will be holding a virtual workshop on Tuesday, October 26 at 1pm ET to solicit comments from interested persons about regulations related to SB248, a new medical debt collection law that went into effect earlier this year.

Collections 246

Collections Financial Institution Healthcare 246

Account Recovery

OCTOBER 27, 2022

In a joint appearance yesterday, President Joe Biden and Rohit Chopra, the Director of the Consumer Financial Protection Bureau announced new guidance that deems a pair of fees charged by financial institutions to “likely” be unfair and unlawful under existing law.

Financial Institution 246

Financial Institution Government 246

Account Recovery

NOVEMBER 4, 2021

The largest bank in Denmark — also one of the largest financial institutions in Europe — announced yesterday that it has suspended all of its debt collection activities and has earmarked $8 million in compensation and restitution for nearly 8,000 customers from whom it overcollected for years.

Banks 246

Banks Collections Financial Institution 246

Account Recovery

MAY 5, 2022

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Bank of America, in which the nation’s second-largest financial institution will pay a fine of $10 million after it was accused of unlawfully garnishing $592,000 from its customers’ bank accounts.

Garnishment 246

Garnishment Financial Institution Banks 246

Account Recovery

AUGUST 13, 2021

Credit card lenders and financial institutions are apparently a little leery of the state of the economy and consumer’s ability to meet their financial obligations and are keeping balance limits largely stationary for the time being, except for one group of consumers — and it’s probably not the group you would guess — according (..)

Financial Institution 246

Financial Institution Lender 246

Account Recovery

JULY 27, 2022

A California Appeals Court has upheld a lower court’s summary judgment ruling in favor of a financial institution that was sued for not separately itemizing a bonus paid to its call center workers for fluently speaking languages other than English, ruling that the bank did not violate state law in how it compensated employees with … The (..)

Banks 245

Banks Financial Institution Judgment 245

Account Recovery

MARCH 11, 2022

March 10 2022 — FedChex, a leader in providing Depository, Treasury, and Risk Management solutions for business and financial institutions, has partnered with CollaborationRoom.ai for its Work-From-Home Agents appeared first on AccountsRecovery.net.

Financial Institution 244

Financial Institution 244

Account Recovery

FEBRUARY 6, 2025

Fine Against Telecom for Enabling Robocalls to FCC Staffers Provana Acquires Palinode, Further Strengthening Dispute Solutions for Financial Institutions WORTH NOTING: A lot of people are feeling very upset these days.

Banks 130

Banks Financial Institution Collections 130

Account Recovery

JUNE 13, 2022

The Court of Appeals for the Ninth Circuit has affirmed a lower court’s ruling that an individual’s text messages sent to a financial institution constitute providing expressed consent to be contacted on a mobile phone via an automated telephone dialing system under the Telephone Consumer Protection Act, but that the lower court abused (..)

Financial Institution 243

Financial Institution Banks 243

Account Recovery

DECEMBER 14, 2022

If you are an agency that is still trying to figure out how to be able to accept payments via PayPal or Venmo, you are now two steps behind, because a new instant payment technology for financial institutions has expanded into the United States after a successful launch in Brazil. first appeared on AccountsRecovery.net.

Financial Institution 246

Financial Institution 246

Account Recovery

DECEMBER 15, 2022

More than one-third of respondents to a survey conducted by the education arm of a financial institution are carrying medical debt, and 82% of those people are having problems paying it off, according to a report highlighting the survey’s findings.

Financial Institution 245

Financial Institution Education Healthcare Collections 245

Account Recovery

JUNE 28, 2021

But, thanks to some questions submitted to the Financial Institutions Division of the Nevada Department of Business and Industry, … The post Daily Digest – June 28.

Financial Institution 246

Financial Institution Collections 246

Account Recovery

FEBRUARY 21, 2025

This underscores a critical shift: todays consumers prioritize how they are treated by financial institutions just as much as the offerings themselves.

Banks 130

Banks Financial Institution Collections 130

Account Recovery

FEBRUARY 1, 2022

A District Court judge in Arizona has certified a class in a Telephone Consumer Protection Act case that alleged a financial institution made collection calls using an artificial or prerecorded voice to more than 1 million non-customers on their cell phones without first obtaining consent.

Financial Institution 235

Financial Institution Collections 235

Account Recovery

MAY 14, 2021

A day after it was reported that more consumers are paying off their credit balances than at any point this century, a number of financial institutions are planning on sharing data to help consumers without credit scores gain access to credit cards and other types of loans, according to a published report.

Banks 230

Banks Financial Institution Loans 230

Account Recovery

JANUARY 27, 2021

the chairwoman of the House Financial Services Committee, yesterday announced the representatives who will chair the committee’s six subcommittees. Of most interest to the accounts receivable management industry is likely the Subcommittee on Consumer Protection and Financial Institutions. Maxine Waters [D-Calif.],

Financial Institution 162

Financial Institution Accounts Receivables Management Financial services 162

Account Recovery

DECEMBER 16, 2024

She contended that the defendant, a financial institution, failed to properly investigate unauthorized transactions, continued billing during disputes, and reported inaccurate information to credit agencies without providing an option to “opt out.”

Fair Debt Collection 130

Fair Debt Collection Financial Institution Creditors Loans 130

True Accord

JULY 13, 2023

Updates to the Gramm-Leach-Bliley Act (GLBA), the Safeguards Rule , provide financial institutions, including those in the accounts receivable management industry, with requirements on how to safeguard customer information, went into effect on June 9.

Financial Institution 69

Financial Institution Student Loans Student loans Loans 69

Account Recovery

FEBRUARY 7, 2025

A New Era for Debt Collection & Financial Services The future of collections is AI-driven, and our Interactive Voice AI Smart Collectors are transforming how agencies and financial institutions manage debt recovery, stated Carl Briganti, President and CEO of CSS, Inc.

Collections 130

Collections Debt Recovery Financial Institution Debt Management 130

Account Recovery

APRIL 7, 2021

CHICAGO — April 6 — CMS Services, a leading provider of compliance management services to the Accounts Receivable Management industry, is excited to announce the launch of its Bank Terms & Conditions portal, providing copies of the terms and conditions issued by hundreds of credit grantors and financial institutions nationwide from (..)

Creditors 195

Creditors Accounts Receivables Management Financial Institution Banks 195

Consumer Finance

MARCH 16, 2021

On March 17, 2021, Consumer Financial Protection Bureau Acting Director Dave Uejio issued a statement regarding consumers’ access to Economic Impact Payment funds distributed through the American Rescue Plan.

Financial Institution 94

Financial Institution Debt collector Banks 94

Troutman Sanders

MARCH 7, 2024

They focus on the implications for financial institutions and other companies, particularly those targeted by the SEC for documents potentially restricting whistleblowers from reporting violations of securities laws. Transcript: Navigating the SEC’s Whistleblower Enforcement Wave: A Guide for Financial Institutions (PDF)

Financial Institution 52

Financial Institution 52

Account Recovery

DECEMBER 16, 2022

One of the nation’s largest financial institutions has been ordered by a state court judge in California to pay $2 million after it was accused of violating the Rosenthal Fair Debt Collection Practices Act and the Fair Debt Collection Practices Act by making “harassing and annoying” debt collection calls to its customers.

Fair Debt Collection 189

Fair Debt Collection Collections Financial Institution 189