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Today in Collections
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Obama Pushes Plan To Help Homeowners Refinance
Collections & Credit Risk | February 2, 2012President Obama will ask Congress for legislation to help homeowners refinance into lower-rate loans, even with limited documentation, a plan he said could reduce annual home loan payments by an estimated $3,000 for the average household.
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Billing Scheme Operators Settle FTC Charges For Nearly $10M
Collections & Credit Risk | February 1, 2012The FTC has stopped an operation targeting payday loan seekers that charged for worthless programs without consumers' consent.
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Tougher Debt Buying Rules Approved In California
Collections & Credit Risk | February 1, 2012Legislators in California on Tuesday pushed through tougher regulations for the collection industry, approving a bill opponents say will create an unfair burden on debt buyers by requiring excessive documentation and restricting legitimate collection efforts.
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Prepaid Phone Card Marketers Agree To $2.32M Settlement
Collections & Credit Risk | February 2, 2012An operation that marketed prepaid calling cards to immigrants will pay $2.32 million as part of a settlement to resolve charges that they made false claims to consumers about the number of minutes of talk time the calling cards would deliver.
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Recovering Bad Card Debts Feeds Issuers’ Profits
Collections & Credit Risk | February 2, 2012Recoveries against bad loans have become a major source of cash for credit card issuers, and hence an increasingly important factor in the industry’s return to pre-recession loss rates.
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Six Firms Sued For Unlicensed Collection Work, Foreclosure Processing
Collections & Credit Risk | February 1, 2012Six companies allegedly processing home foreclosures in Nevada and engaging in unlicensed collection activities are being sued by attorneys Nicholas Boylan and Shawn Christopher.
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Vendor News: Persolvo Reaches Several Milestones
Collections & Credit Risk | February 2, 2012Persolvo Data Systems, a provider of Web-based settlement software and analytics designed to locate, identify and settle accounts enrolled in debt settlement programs, announced Wednesday that it reached several milestones in 2011.
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'Robo' Credit Card Suits A Menace For Issuers
Collections & Credit Risk | February 1, 2012Last year JPMorgan Chase & Co took New York resident Shady Gergis to court over a few thousand dollars in allegedly unpaid credit card debt.
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FTC Halts Nationwide Employment Scam
Collections & Credit Risk | February 1, 2012An operation that allegedly deceived consumers with false promises of nonexistent sales jobs will be banned from marketing any employment products or services under a settlement with the Federal Trade Commission.
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Debt Buyer Agrees To $2.5M FTC Penalty
Collections & Credit Risk | January 30, 2012Debt buyer Asset Acceptance LLC has agreed to pay a $2.5 million civil penalty to settle FTC charges that it made several misrepresentations when trying to collect old debts.
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Mixed Results For Lawsuits Against Collection Agencies, Creditors
Collections & Credit Risk | January 27, 2012A review of lawsuits filed against collection agencies and creditors in the first two-week reporting period for 2012 shows that Fair Debt Collection Practices Act and Telephone Consumer Protection Act lawsuits are down from the same two-week period a year ago.
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Credit Risk Analysis That Drives Profitable Retail Banking Behavior
Collections & Credit Risk | January 16, 2012Good customers are good customers right up until they’re not. This is the fundamental paradox of credit risk analysis. The most profitable customers are often the ones that are closest to being unprofitable.
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CFPB Acts As If It's Doing Banks A Favor
Collections & Credit Risk | November 22, 2011This month the Consumer Financial Protection Bureau held an invitation-only teleconference and issued a press release announcing its "Early Warning Notice."
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Collections - Credit Card
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- Tougher Debt Buying Rules Approved In California
- 'Robo' Credit Card Suits A Menace For Issuers
- Six Firms Sued For Unlicensed Collection Work, Foreclosure Processing
- Billing Scheme Operators Settle FTC Charges For Nearly $10M
- Obama Pushes Plan To Help Homeowners Refinance
- Recovering Bad Card Debts Feeds Issuers’ Profits
- Judge Halts Telemarketers Who Sold Bogus Credit Cards
- Voice Biometrics Poised For A Bigger Role In Fraud Prevention
- Litigation Charge Takes A Bite Out Of MasterCard's Q4 Profit
- Banks to Use Social Media Data For Loans And Pricing
- 'Robo' Credit Card Suits A Menace For Issuers
- Tougher Debt Buying Rules Approved In California
- Vendor News: Persolvo Reaches Several Milestones
- Billing Scheme Operators Settle FTC Charges For Nearly $10M
- Six Firms Sued For Unlicensed Collection Work, Foreclosure Processing
- Debt Buyer Agrees To $2.5M FTC Penalty
- Card Debt Falls Last Year, Credit Scores Too
- Voice Biometrics Poised For A Bigger Role In Fraud Prevention
- Credit Risk Analysis That Drives Profitable Retail Banking Behavior
