A recent credit report study from TransUnion found that the composition of loans that people typically carry has materially changed for both the youngest and oldest segments of the population during the last decade. Not only did economic forces prompt change, but general demographic shifts have changed the composition of outstanding credit among different age groups in the U.S.
Think you’ve seen it all in the ARM industry? Here’s a new one: The Securities and Exchange Commission last week launched legal action against a hedge fund and its owners for defrauding investment customers. Investors allegedly lost millions because the fund was managed by a former debt collector who had no investment experience.
A district judge in Wisconsin last month denied a plaintiff’s petition for class certification in a TCPA case concerning debt collection calls. In an epic footnote discussing his reasoning, the judge noted that the FCC has been lacking in clarifying its rules on consent under the TCPA, and that efforts have revealed that the regulator “appears to be allergic to brevity and clarity.”
The Consumer Financial Protection Bureau (CFPB) Wednesday took its first action against a “buy-here, pay-here” car dealer over illegal debt collection and credit reporting practices.
s another bubble market emerging in the subprime auto sector? Perhaps, but a growth market for accounts receivable management (ARM) firms is fast developing already.
A new TransUnion study found that the consumer loan wallet – the composition of loans that people typically carry – has materially changed for both the youngest and oldest segments of the population during the last decade.
Delinquencies declined nearly across the board in the second quarter, falling in nine out of 11 categories as the economy improved and consumers responsibly managed their finances, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin.
The Consumer Financial Protection Bureau (CFPB) Wednesday announced it is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
Auto loans have long been an interesting market for the accounts receivable management industry. While total outstanding balances have always been quite high, historically in line with credit cards for example, the secured nature of the loans limit the work collection agencies could do for lenders. Is that paradigm about to change?
The Consumer Financial Protection Bureau (CFPB) Wednesday announced that it is taking action against an auto finance company that distorted consumer credit records for years.