Troutman Sanders

JANUARY 3, 2023

On December 28, 2022 the New York Department of Financial Services (DFS) released its revised proposed amendments to 23 NYCRR 1 — the state’s debt collection regulation. For more information, click here.

Financial services 52

Financial services Fair Debt Collection Banks Government 52

Troutman Sanders

JANUARY 10, 2023

On January 4, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris announced that cryptocurrency exchange Coinbase, Inc. For more information, click here. On January 4, the U.S. For more information, click here.

Financial services 52

Financial services Unsecured Creditor Bankruptcy Banks 52

Troutman Sanders

NOVEMBER 21, 2022

On November 14, the Financial Industry Regulatory Authority (FINRA) announced that it will begin conducting targeted exams of brokerage firm marketing practices relating to crypto assets. Notable banking institutions and financial services providers will be participating in the pilot project. For more information, click here.

Financial services 52

Financial services Banks Lender Trade 52

Fico Collections

NOVEMBER 30, 2022

Profitability and Customer Financial Health in Retail Banking. Here’s how to strike a balance that delivers long-term benefits for customers' financial health. In my recent Forbes article , I explored a vision for the future of retail banking where the customer’s complete financial wellness is at the center of decision making.

Retail 52

Retail Banks Loans Financial services 52

Troutman Sanders

MARCH 28, 2023

Court of Appeals for the Second Circuit held that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional — splitting from the U.S. Court of Appeals for the Fifth Circuit’s decision in Community Financial Services Association of America v. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

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. Simply offering banking services through digital channels is not enough.

Financial services 52

Financial services Financial Institution Banks Credit Unions 52

Troutman Sanders

MAY 9, 2023

The bill would require digital asset firms to publish and distribute a prospectus that includes material information related to the firm’s business, financial condition, results of operations, risk factors, and conflicts of interests. Strengthen Retail (Consumer) Investor Protections.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

MARCH 8, 2021

On March 2, The Wall Street Journal reported that large retail pharmacies are “collecting data from millions of customers as they sign up for shots, enrolling them in patient systems and having recipients register customer profiles.” To learn more about COVID-19-related scams, click here.

Financial services 52

Financial services Retail Foreclosure Financial Institution 52

Troutman Sanders

OCTOBER 26, 2022

In addition to a $950,000 fine and mandatory restitution to impacted borrowers, the consent order includes remediation requiring Rhinebeck to develop a compliance plan providing for updates to its automobile lending policy to limit dealer markups on retail installment contracts purchased by the bank.

Financial services 52

Financial services Banks Loans Retail 52

Troutman Sanders

NOVEMBER 30, 2020

Shop through trusted retailers before making a purchase and when providing any personal or financial information. CISA recommends that consumers should: Check recently purchased internet-connected devices for any privacy and security settings to ensure they’re not unnecessarily sharing information with third parties.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52

Fico Collections

SEPTEMBER 30, 2022

They have been chosen because of their unique knowledge and extensive expertise across financial services, technology, business, engineering and science. Douglas Blakey, editor, Retail Banker International. Burcu currently leads credit analytics and retail credits at Akbank, one of the largest retail banks in Turkey.

Retail 52

Retail Startups Banks Financial services 52

Troutman Sanders

MAY 4, 2023

CFS Partner Alan Wingfield focuses his practice on financial services litigation and consumer law compliance counseling. He helps businesses with the myriad federal and state consumer protection laws, as well as laws regulating financial services and other types of consumer-facing companies.

Retail 52

Retail Trade Financial Institution Financial services 52

Troutman Sanders

OCTOBER 20, 2022

Please join Consumer Financial Services Partner Chris Willis and his colleagues and fellow Partners Mary Zinsner and Susan Flint as they discuss the current landscape of wire fraud scams in the financial services industry.

Financial services 52

Financial services Banks Retail Lender 52

Troutman Sanders

OCTOBER 20, 2023

The AG’s Protracted Investigation and Litigation Savers is the largest for-profit thrift retailer in the world and generates more than $1 billion in annual revenue. The Washington AG began investigating Savers in 2014 and, after a failed negotiation, sued the retailer.

Financial services 52

Financial services Financial Institution Government Retail 52

Qualco

OCTOBER 25, 2023

Open Banking fundamentally transforms financial services by unlocking new insights into customers' lives. It provides real-time information, helps analyse spending patterns, assess financial health, personalise products, and detect fraud. By Guy Statter , Country Manager, UK & Ireland at QUALCO.

Credit Management 80

Credit Management Debt Recovery Retail Collection Agencies 80

Payment Savvy

DECEMBER 7, 2023

Non-medical services: things like child care, home repairs, pet care, and financial services. Eye Doctors & Optometrists You can pay for your eye exams, prescription eyeglasses, contact lenses, solutions, and other vision expenses with your FSA card at any optometry office or vision care retailer.

Healthcare 105

Healthcare Retail Bankruptcy Financial services 105

Troutman Sanders

AUGUST 25, 2022

Please join Consumer Financial Services Partner Chris Willis and fellow Partners Lori Sommerfield and Kim Phan, along with special guest Matt Ater from Vispero, as they discuss recent developments in website accessibility governing public accommodations under Title III of the Americans with Disabilities Act (ADA).

Financial services 52

Financial services Financial Institution Retail Government 52

Troutman Sanders

OCTOBER 25, 2023

The final rule retains several key aspects of the proposed rule issued in June 2022, such as flexibility in retail lending evaluations for banks with less than $600 million in assets and new data collection and reporting requirements for banks over $2 billion in assets. Provide clarity and consistency in the application of the regulations.

Banks 52

Banks Lender Credit Unions Credit Unions 52

Troutman Sanders

MARCH 3, 2023

According to the CFPB, on average, BNPL borrowers were much more likely to be highly indebted, revolve on their credit cards, have delinquencies in traditional credit products, have lower credit scores, and use high-interest financial services such as payday, pawn, and overdraft compared to non-BNPL borrowers.

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Credit Card Debt Retail Financial services Credit Bureau 52

Optio Solutions

FEBRUARY 13, 2020

The new business results from developing partnerships with national clients in retail, education, financial services and other industries. 13, 2020) — National debt collection agency Optio Solutions celebrated its 13th anniversary Feb. 7 while experiencing steady growth over the last several years.

Retail 52

Retail Collection Agencies Collections Agency Education 52

UK debt collections

AUGUST 16, 2022

Support Services. General Retailers. Financial Services. Food & Drug Retailers. Julie Palmer, Partner at Begbies Traynor, said the data on companies in a critical financial distress painted a worrying picture. “We Sectors with the highest number of critically distressed businesses: Construction.

Manufacturing 96

Manufacturing Retail Government Construction 96

Troutman Sanders

SEPTEMBER 14, 2023

As discussed here , the CFPB is currently undertaking a rulemaking under Section 1033 of the Consumer Financial Protection Act as part of the financial services industry’s movement toward “open banking.”

Banks 52

Banks Retail Financial services 52

Fico Collections

NOVEMBER 25, 2020

He has more than 15 years of experience in credit risk management, mainly within the Retail and Small business areas. In his previous position, he led retail risk management at ?eska itelna, the largest retail bank in the Czech Republic Petr has also worked at Citibank for five years in credit risk. by FICO.

Loans 52

Loans Retail Lender Financial services 52

Fico Collections

APRIL 21, 2023

However, you conducted a test where you offered ALL applicants for a retail credit product the opportunity to provide DDA data permissioned by them for consideration. Q: With the CFPB’s recently released Open Banking framework, what do you see on the horizon as far as retail lenders’ top priorities go for leveraging the framework?

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Lender Retail Financial services Financial Institution 52

Fico Collections

JUNE 30, 2021

a is part of the Erste Group, one of the largest financial services providers in Central and Eastern Europe, which serves more than 16 million customers in seven countries. “As a responsible for retail banking. “We As a digital banking leader in Slovakia we are looking forward to this cooperation,” said Zden?k by Nikhil Behl.

Banks 52

Banks Financial services Retail Trade 52

CSA

NOVEMBER 16, 2022

The FCA has shared the key findings from its review of firms’ treatment of borrowers in financial difficulty after the Covid-19 pandemic. The findings outline the areas and issues that financial services firms need to focus in order to improve outcomes. FCA Consumer Duty webinar available online.

Retail 40

Retail Financial services Banks 40

Public Citizen

MAY 5, 2021

The survey is part of the larger annual survey of legal developments by the American Bar Association's Committee on Consumer Financial Services.

Retail 45

Retail Financial services Lender Trade 45

Fico Collections

MAY 18, 2023

The innovative pay-as-you-go solution allows Dock’s clients, including banks, fintechs, and retailers, to intercept fraudulent transactions and protect their operations, while also improving the user experience. “For You can read more about this story in the full media release.

Retail 52

Retail Lender Startups Banks 52

Troutman Sanders

SEPTEMBER 13, 2023

Tempoe’s business model involved purchasing property from retailers and then leasing it to consumers who were typically unable to obtain conventional financing to purchase the property outright. As a result, the CFPB claims that some consumers did not learn until the end of the initial agreement that they did not own the item leased.

Retail 52

Retail Financial services 52

True Accord

AUGUST 24, 2022

The rise of interest in BNPL is also likely influenced by increased financial uncertainty, high-interest rates and a downward trend in credit card approval. As consumers show preference for digital financial services, BNPL continues to grow and become available at more retailers. . Why are BNPLs Popular with Gen Z?

Credit Card Debt 83

Credit Card Debt Retail Debt Recovery Collections 83

Fico Collections

SEPTEMBER 28, 2020

I’ll be participating in an excellent panel, “ Balancing Fraud Prevention & the Customer Experience ,” at the first virtual edition of CBA LIVE , the must-attend annual event for the retail banking industry. Ben Mendelsohn, Senior Vice President, Director of Retail Product Management, Fifth Third Bankcorp.

Retail 59

Retail Banks Financial services 59

Troutman Sanders

MARCH 11, 2024

According to the list, the greatest number of consumer complaints filed in 2023 related to online purchases, price gouging, retail sales, defective merchandise, poor customer service, pet stores, and animal breeders.

Financial services 52

Financial services Garnishment Lender Banks 52

Troutman Sanders

DECEMBER 19, 2023

District Court of the Southern District of New York denied bankrupt digital asset services company Celsius Network Inc.’s For more information, click here. For more information, click here. The consumer will then have a 90-day grace period to redeem account rewards in accordance with the program’s original terms and conditions.

Financial services 52

Financial services Banks Debt collector Government 52

Troutman Sanders

NOVEMBER 1, 2021

LTD Financial Services, L.P. , as a result of an unpaid balance on a retail credit card account. In Bordeaux v. 2:16-0243 (KSH) (CLW) (D.N.J The District of New Jersey rejected these claims, finding that the letters were not false or misleading. The plaintiff owed a debt of $4,528.59

Fair Debt Collection 52

Fair Debt Collection Debt settlement Judgment Financial services 52

Troutman Sanders

SEPTEMBER 16, 2022

After analyzing public feedback, as well as information gathered from the five providers of Buy Now, Pay Later (BNPL) products, the Consumer Financial Protection Bureau (CFPB) issued a report, making it clear that the CFPB plans to increase regulation of the BNPL industry.

Lender 52

Lender Retail Loans Financial services 52

Troutman Sanders

MARCH 24, 2023

Second, unlike many cases currently in the news, these allegations do not involve retail installment sales contracts. He focuses primarily on federal and state government regulatory and enforcement matters involving state attorneys general, the Consumer Financial Protection Bureau (CFPB), and the Federal Trade Commission (FTC).

Personal loans 52

Personal loans Loans Government Trade 52

Troutman Sanders

JANUARY 30, 2024

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On January 29, Acting Comptroller of the Office of the Comptroller of Currency (OCC) Michael J.

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Financial services Financial Institution Banks Credit Unions 52