Troutman Sanders

FEBRUARY 21, 2024

The scheme allegedly harmed more than 3,000 people nationwide. The court’s orders bar the individuals and their companies from directly or indirectly engaging in telemarketing, debt relief services, and making any misrepresentations or unsubstantiated claims about any product or service.

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Fico Collections

JANUARY 18, 2023

The State of Responsible AI in Financial Services. The third annual State of Responsible AI in Financial Services report released today, alerting the industry to come together and self-regulate its use of AI. FICO Admin. Thu, 12/19/2019 - 16:29. by Scott Zoldi. Chief Analytics Officer. expand_less Back To Top.

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Troutman Sanders

NOVEMBER 21, 2023

The CFPB also reports that people commonly reported that a medical bill being collected had already been paid or should have been paid by someone else; medical bills are collected long after services were provided; and medical bills that patients have no prior knowledge of appear on their credit reports.

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Troutman Sanders

OCTOBER 24, 2023

It would jumpstart competition by forbidding financial institutions from hoarding a person’s data and by requiring companies to share data at the person’s direction with other companies offering better products. For more information, click here. For more information, click here.

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Troutman Sanders

JULY 25, 2023

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities State Activities Federal Activities: On July 21, the Chairman of the U.S. The FSC will meet on July 26 to markup H.R.

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Troutman Sanders

SEPTEMBER 25, 2023

On September 20, the Senate Banking, Housing, and Urban Affairs Committee held a hearing on artificial intelligence (AI) in financial services. In his opening statement, Chair Sherrod Brown (D-OH) alleged that AI could cause significant changes in our financial system. For more information, click here. million from investors.

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PDC Flow

MARCH 2, 2021

With so many people working from home since the beginning of the pandemic, there has been a massive increase in cybercrime. The post Operational Risk Management in Financial Services appeared first on PDCflow. It’s important to consult your agency attorneys to comply as thoroughly as possible to mitigate your risk. Data Breach.

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True Accord

FEBRUARY 8, 2021

TrueAccord Group has announced Courtney Graham, former Chief People Officer of Four Winds Interactive, as its new Chief People Officer. . Our family of companies is growing rapidly, and we are thrilled to have Courtney on board as our first Chief People Officer.

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Better Credit Blog

NOVEMBER 2, 2020

Then you may start to hear from a company called Action Financial Services. Action Financial Services is a debt collection agency that may have been hired by the original owner of your debt. In order to pursue you for the debt, Action Financial Services has to first open up a collections account on your credit report.

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Troutman Sanders

OCTOBER 16, 2023

One in four people who reported losing money to fraud since 2021 said it started on social media. [1] For more information, click here. On October 6, the FTC published a Data Spotlight regarding social media and scammers. 1] Reported losses to scams on social media during the same period hit a staggering $2.7

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Troutman Sanders

AUGUST 28, 2023

On August 23, the FTC announced that it is sending notices to more than 9,000 people that they may be eligible for compensation stemming from its settlement with home security company Vivint Smart Home, Inc. The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities.

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Troutman Sanders

JANUARY 17, 2023

On January 13, the Federal Reserve Board (Fed) released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances. On January 13, the Fed announced preliminary financial information, indicating that the Federal Reserve Banks had estimated net income of $58.4

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UK debt collections

NOVEMBER 16, 2022

Over a million people and businesses could be owed money in the UK following the collapse of the crypto exchange FTX, according to bankruptcy filings. In the UK, crypto assets are largely unregulated, and experts and financial watchdogs warn there’s little protection for consumers. It’s just not there any more. Few options.

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Troutman Sanders

MAY 2, 2023

However, due to partisanship in the Senate, Senator Lummis believes her bill is unlikely to pass before the House Financial Service Committee’s bill is introduced. Khan appeared before the House Appropriations Subcommittee on Financial Services and General Government to discuss its FY 2024 budget request and the agency’s ongoing work.

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Troutman Sanders

JUNE 27, 2023

On June 21, the House Financial Services Committee announced its plan to advance two proposed new cryptocurrency laws in July 2023. However, the complaint alleged that Ichioka could not pay investors because he used investor money to for his personal use. The DOJ and CFTC also filed criminal and civil actions against Ichioka.

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Troutman Sanders

FEBRUARY 16, 2023

Companies operating these digital platforms appear to shoppers as if they provide objective lender comparisons, but may illegally refer people to only those lenders paying referral fees. On February 8, New York Department of Financial Services (DFS) Superintendent Adrienne A. Paxos was the issuer of Binance’s stablecoin, BUSD.

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Troutman Sanders

MAY 31, 2023

The changes permit people with FHA mortgages to submit a request for Preliminary Title Approval earlier in the process and with fewer documents. Department of Housing and Urban Development (HUD). Combined, these changes will reduce the time between a loan’s eligibility for assignment to HUD and the payment of claim funds to the mortgagee.

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Fico Collections

DECEMBER 9, 2021

As the end of the year approaches, financial institutions are preparing for 2022 by pivoting their focus towards digital transformation initiatives that add real value for their customers and their bottom line. In 2022, more financial institutions will also focus on humanizing their digital experiences. by Darryl Knopp.

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Better Credit Blog

FEBRUARY 4, 2021

Are you concerned about a collections entry from Delivery Financial Services? Read on to learn more about Delivery Financial Services and how to get them deleted from your report. About Delivery Financial Services. How Delivery Financial Services Works. Ask Lex Law for Help.

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TAMSEY

MARCH 18, 2021

However, this trading agreement does not include any new rules governing the financial services sector. London is one of the most attractive places in the world to do business and has a dynamic, deep and wide financial services sector. The big loss for UK (and EU) financial services firms is passporting services.

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Troutman Sanders

JULY 11, 2023

On July 6, the Federal Trade Commission (FTC) announced that, in cooperation with the state of Florida, it will send refunds to consumers nationwide allegedly defrauded by a telemarketing financial services company, and related companies, into paying for credit card interest rate reduction and debt elimination programs.

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True Accord

SEPTEMBER 23, 2020

Last week, Sheila Monroe, TrueAccord’s COO, was the featured guest on “Credit Eco To Go,” a consumer finance podcast hosted by Joann Needleman, a leading financial services attorney at Clark Hill. The theme was putting the “consumer” back into consumer financial services.

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Better Credit Blog

SEPTEMBER 9, 2020

Have you noticed a company called Phoenix Financial Services on your credit report? This means negotiating with the debt collector, which many people don’t know how to do. What is Phoenix Financial Services? How to Remove Phoenix Financial Services from Your Credit Report. Ask for a Goodwill Deletion.

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Better Credit Blog

AUGUST 22, 2020

If you have an unpaid medical bill, you may begin to hear from a debt collector known as CMRE Financial Services. CMRE Financial Services is a collection agency that collects medical debts on behalf of hospitals and other healthcare businesses. What is CMRE Financial Services? Know Your Rights.

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Troutman Sanders

SEPTEMBER 27, 2022

million people currently serve New York’s public or nonprofit sectors. On September 14, the New York Department of Financial Services issued notice of proposed rules, pertaining to the state’s Commercial Finance Disclosure Law (CFDL). An estimated 2.7 For more information, click here.

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Better Credit Blog

FEBRUARY 5, 2021

If you’re wondering what BCA Financial Services is and why it’s on your credit report, the guide below is for you. With all of life’s financial obligations and the busyness of day to day life, it can be all too easy to let a payment slip through the cracks. About BCA Financial Services. BCA Financial Services, Inc.

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Troutman Sanders

MAY 23, 2022

digital asset businesses, comparisons to traditional financial services and financial inclusion considerations, as well as technological considerations. Attorney General Stein stated, “These government programs were created to help people in dire need. For more information, click here.

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Troutman Sanders

MAY 9, 2023

The FTC charged the defendants with taking tens of millions of dollars from people by falsely promising to eliminate or substantially reduce their credit card debt. On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. For more information, click here.

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Troutman Sanders

AUGUST 16, 2022

Commercial surveillance denotes the business of collecting, analyzing, and profiting from information about people. The FTC’s Advance Notice of Proposed Rulemaking seeks public comment on the harms stemming from commercial surveillance and whether new rules are needed to protect people’s privacy and information.

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Troutman Sanders

MAY 31, 2022

On May 24, the CFPB announced that it will open the Office of Competition and Innovation as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants. For more information, click here. For more information, click here.

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Troutman Sanders

SEPTEMBER 13, 2022

On September 8, Federal Reserve Chair Jerome Powell spoke about stable coin legislation: “If people are going to think something is money, then it needs to actually have the qualities of money. For more information, click here.

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Troutman Sanders

MAY 2, 2022

On April 28, the New York Department of Financial Services issued guidance on the use of blockchain analytics, emphasizing “the importance of blockchain analytics to effective policies, processes, and procedures, including, for example, those relating to customer due diligence, transaction monitoring, and sanctions screening.”

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Consumer Finance

OCTOBER 19, 2021

The Consumer Financial Protection Bureau (CFPB) today took action against the prison financial services company JPay for violating the Consumer Financial Protection Act by charging consumers fees to access their own money on prepaid debit cards that consumers were forced to use.

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Troutman Sanders

JULY 18, 2022

The letter arrives as “people seeking abortion are increasingly told that installing a VPN is an important step for protecting themselves when seeking information on abortion in states that have outlawed and criminalized abortion.

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Troutman Sanders

MAY 16, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative and regulatory events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities.

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CSA

FEBRUARY 14, 2020

Fiona Macaskill is Head of Learning & Development at the Credit Services Association. Our first ever People Development Conference was a great success - a chance to celebrate those businesses in the debt collection, financial services and across other sectors who recognise the value in upskilling and empowering its people.

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Troutman Sanders

OCTOBER 4, 2021

Attorney General Stein stated, “We are not out of this pandemic yet, and people still need access to water, power, and gas in their homes to stay healthy and prevent the spread of COVID-19.” For more information, click here. For those interested in reading the complete order, click here. million or less.

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