Harvard researchers find that fewer consumers are using credit cards because government regulations are making it harder for them to open credit card accounts in the first place.
COLORADO SPRINGS, Colo. – A new survey of 1,000 teens by Junior Achievement USA and Voya Foundation shows that nearly two-thirds of teens, or 65 percent, believe borrowers are ultimately responsible for paying off their student loans, even if they borrowed more money than they are able to pay off, while 11 percent believe the […]
“It would seem that legislative canon that purports to better regulate those institutions deemed ’too big to fail’ is unwittingly creating a class of banks that may be ‘too small to succeed.’” M&T CEO Bob Wilmers in his latest annual letter to shareholders. I personally would credit the genesis of the phrase “too small to succeed” to […]
This article was submitted by Jessica Hartman, IACC Executive Director Those in commercial credit, collections and related industries will face significant economic and regulatory challenges in 2016, International Association of Commercial Collectors experts predict. Credit will remain tight, and creditors will be looking to save money and to get more services and assurances for the […]
Many industry groups have sounded the cry that increased financial services regulation would have the unintended consequence of shrinking the credit available to the same consumers it was intended to protect. But most of these cries have been mere hypothesis. According to new research from the American Action Forum (AAF), Dodd-Frank financial reform has led to a 14.5 percent […]
WASHINGTON, District of Columbia – January 26, 2016 – Consumers, creditors, and the economy as a whole benefit from the existence of the professional debt collection industry, according to the newest white paper from ACA International, the association of credit and collection professionals. The white paper “The Role of Third-Party Debt Collection in the U.S. Economy” explores the industry’s role in the U.S. economy,focusing on how third-party debt collectors work in tandem with creditors and […]
The utilities industry is a highly-regulated market with tremendous regional fragmentation despite its maturity. However, it presents excellent opportunities for ARM companies. Utilities collections accounted for $550 billion in revenue for the ARM industry in 2014. This market segment is comprised of three broad sectors – electricity, gas, and water – but electricity and gas […]
Student loans are making headlines, whether they’re about the size of the debt, the companies collecting the debt, or the hardships faced by recent graduates paying their debt. Earlier this week, MarketWatch published an article highlighting two Supreme Court petitions filed by men trying to discharge their student loan debt, bringing the issue front and […]
In addressing the CAB, Cordray underlined this new, anti-arbitration direction for the CFPB: “Companies use [arbitration clauses]…to block class action lawsuits, providing themselves with a free pass from being held accountable by their customers in the courts.”
This industry, which initially seemed to focus only on millennials, is growing at an exponential rate. Morgan Stanley reports that from 2010 -2014 Marketplace Lending had a Compound Annual Growth Rate (CAGR) of 123%; and an Expected CAGR of 51% from 2015-2020. At these growth rates, it is would seem that it is not just limited to millennials any longer.