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Credit Grantors

A credit grantor is any individual or business that extends credit to customers. The credit can be for other businesses or consumers and can come in many forms, such as closed-end loans (like auto loans, mortgages, and student loans), revolving loans (like credit cards or certain home equity loans), or a hybrid of the two. Some credit is backed by property or assets.

In the U.S., the primary credit grantors are large commercial banks and credit unions. But credit is also extended by small businesses, governments, and other organizations.

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CU Recovery Awards $5,000 in Collection Academy Scholarships; Recipients will Share Entries at Conference

Wyoming, MN – CU Recovery, the #1 collection resource for credit unions, is pleased to announce the award of $5,000 in tuition scholarships to its Fall 2015 Collection Academy.  Five scholarships were awarded to small, medium and large credit unions based on their submission about changes that were implemented in their collection department or credit union, […]

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CFPB Finalizes Rule to Supervise Nonbank Auto Finance Companies

Yesterday the Consumer Financial Protection Bureau (CFPB) published a rule that will allow the agency to supervise larger nonbank auto finance companies for the first time. The CFPB already supervises auto financing at the largest banks and credit unions. Yesterday’s rule extends CFPB supervision to any nonbank auto finance company that makes, acquires, or refinances 10,000 or more loans or leases in a year.

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TD Bank to Buy Nordstrom $2.2 Billion U.S. Credit Card Portfolio

Toronto-Dominion Bank (NYSE:TD) on Tuesday announced that it would acquire Nordstrom Inc.’s. (NYSE:JWN), U.S VISA® and private-label consumer credit card portfolio. The transaction is part of a long-term deal to become the retailer’s exclusive U.S. credit card issuer. The retailer’s existing portfolio totaled about $2.2 billion in receivables. Terms of the purchase were not disclosed. […]

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LiveVox Hosts Panel on Increasing Agency Oversight and Audit Efficiency

§  Panelists will review the latest in creditor-focused regulatory trends, such as vicarious liability, and how simplifying agency management can help provide proactive risk mitigation controls §  Experts will also give insight on how cloud is being used as a cost-effective path to solve traditional agency management challenges such as auditing, performance evaluation, and standardization vs. separation  […]

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TransUnion Partners with Global Debt Registry to Offer Registry Services for Debt Buyers and Financial Institutions

TransUnion, a global leader in information and risk management, and Global Debt Registry (GDR), the pioneer and leader in debt information access and validation, today announced a collaboration to market GDR debt registry services for debt buyers, collectors and financial institutions. GDR’s debt registry offering enables debt owners to accelerate collections through streamlined access to […]