According to an exclusive Reuters report, JPMorgan Chase will be paying $125 million to settle investigations by state and federal authorities, some dating back to 2013, related to the improper sale and collection of consumer credit card debt.
insideARM.com and The iA Institute formally announced today the ARM industry’s first ever conference focusing on First Party Collections and First Party Outsourcing. The inaugural event will be held on October 13-14, 2015 at the Oakridge Hotel and Conference Center just outside Minneapolis, MN.
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, […]
The New York Times reported yesterday that EBay has revised its user agreement (which will take effect June 15) to include a statement that has raised concerns among state regulators. “You consent to receive autodialed or prerecorded calls and text messages from eBay at any telephone number that you have provided us or that we have otherwise obtained.”
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.
The OCC took the actions against the bank for violations of law and unsafe or unsound practices in connection with the bank’s compliance with the Servicemembers Civil Relief Act (SCRA), and unsafe or unsound practices in connection with debt collection litigation practices.
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. […]
§ 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 […]
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 […]
The Consumer Financial Protection Bureau (CFPB) Wednesday issued a final rule aimed at improving the way that companies submit consumer credit card agreements to the Bureau.