Credit Grantors Archives - Page 2 of 265 - insideARM

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December 4, 2023 by John Rossman in Credit Grantors

Appeals Court Could Overturn Credit Card Dispute Provisions For All Issuers

A case pending in the Fourth Circuit Court of Appeals could upend the enforceability of dispute provisions found in a majority of consumer credit card agreements used by nearly every...

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November 9, 2023 by Orrick, Herrington & Sutcliffe LLP in CFPB

CFPB Report Reveals High Credit Card Costs, Growing Debt, and Digital Shifts led to Consumers’ Revolving Debts in 2022

On October 25, the CFPB released a report on credit card interest rates and fees in 2022 highlighting the impact of the cost to consumers. The report found that credit...

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April 13, 2023 by Joann Needleman in Credit Grantors

In the Wake of the Demise of Silicon Valley Bank and Signature Bank: What Fintechs, Private Equity, and Banks Need To Know

On Friday, March 10, the California Department of Financial Protection and Innovation (DFPI) closed Silicon Valley Bank (SVB), the subsidiary of SVB Financial. The Federal Deposit Insurance Corporation (FDIC) was...

October 18, 2022 by Brian Turetsky in CFPB

CFPB Files Complaint Against Online Lender Alleging MLA Violations

On September 29, 2002, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint against online lender MoneyLion Technologies, Inc, and several dozen of its subsidiaries (collectively, “MoneyLion”), alleging violations of the...

October 6, 2022 by Erin Kerr in Compliance

A Guide to Building a Robust Vendor Management Program in Collections

For a lot of lenders, especially newer fintechs, who have spent the last two years originating loans and lines of credit, the obvious collections strategy solution to the challenge of...

September 6, 2022 by Elanor Mulhern in CFPB

CFPB Signals Increased Scrutiny of Credit Card Industry Interest Rates

In a recent blog post, the CFPB reported on research into various factors considered significant in explaining current credit card interest rates. The CFPB reported that over 175 million Americans...

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September 1, 2022 by Chris Willis in CFPB

Banking Groups Challenge CFPB’s RFI on Customer Service

Banking trade groups are challenging a request for information (RFI) issued by the Consumer Financial Protection Bureau (CFPB) regarding customer service at large financial institutions. In a joint letter dated...

August 18, 2022 by Erin Kerr in Collection Strategy

4 Vendor Management Best Practices for Collections and Recovery

Finding, vetting, and on-boarding a new collections and recovery vendor is not easy or fast. You go through the trouble of wading through all of the potential vendors, assessing them,...

July 12, 2022 by Erin Kerr in Credit Grantors

NY DFS to Focus on Equitable Access to Banking, Innovation

The New York Division of Financial Services (NY DFS) plans to focus on equitable access to banking and on fostering innovation in consumer financial services. That's according to Adrienne A....

July 6, 2022 by John L. Culhane, Jr. in CFPB

Simplification and Possible Registration of Nonbanks on CFPB Rulemaking Table

CFPB rulemaking was the subject of a new blog post by Director Chopra published last week titled “Rethinking the approach to regulations.”Director Chopra first discussed the CFPB’s efforts “to move...