The U.S. financial watchdog Consumer Financial Protection Bureau (CFPB) Thursday released a new set of tools student loan borrowers can use if they run into trouble making payments on their accounts. The federal agency’s goal in the release is to help distressed borrowers avoid defaulting on their student loans and going into collections.
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.
The U.S. Department of Education late last week published a list of companies that won contracts under the small business set-aside on its Default Collection Services contract and private collection agency (PCA) program. There will be 11 small business collection agencies on the student loan collection contract. The previous contract featured only five.
Todd, Bremer & Lawson, a BBB-accredited firm specializing in the service of educational receivables, has announced its selection of Ontario Systems as its outsourced compliance partner, in pursuit of an enhanced compliance management system focusing on consumer fairness and compliance effectiveness.
BFrame today announced enhanced software features to support new student loan rehabilitation program requirements dictated by the Federal Government and improve customer efficiency.
Windham Professionals, Inc. is excited to welcome its new President & Chief Executive Officer, Christine Timmins Barry.
The Consumer Financial Protection Bureau (CFPB) said Tuesday that it has sued for-profit college operator Corinthian Colleges, Inc. for creating a loan program that was so complicated in structure, it actually exposed Corinthian to liability under the FDCPA as a collection agency. The company is also accused of a host of other financial violations.
Enterprise Recovery Systems, Inc.® (ERS) announced today that they hosted a congressional visit on Friday, August 22, 2014.
The National Consumer Law Center (NCLC) late Tuesday published a report that calls for the Department of Education to stop using private collection agencies to help recover delinquent student loans. But the report is misleading and inflammatory, going far beyond more reasoned studies from government agencies urging reform within the ED collection contract.
Quantrax Corporation, Inc. today announced that the company will continue its partnership with Financial Management Systems (FMS), an accounts receivable management (ARM) firm dedicated exclusively to the student loan sector.