Consumer Financial Protection Bureau Evaluating New Standard Settings For The Industry

Consumer Financial Protection Bureau Evaluating New Standard Settings For The Industry

Before a public meeting of the Bureau’s Consumer Advisory Board on November 2, CFPB Director Rohit Chopra read prepared remarks. He briefly discussed several subjects, including the Buy Now Pay Later market, big tech and data collection, peer-to-peer payment...
The Way that Major Credit Bureaus Record Outstanding Medical Bills is Changing

The Way that Major Credit Bureaus Record Outstanding Medical Bills is Changing

This month (July 2022), major credit reporting agencies started eliminating paid-off medical debt from people’s credit reports. Additionally, it will take a year for new medical bills that individuals accrue and fail to pay promptly to appear on their credit...
Outsourced Debt Collection Services Poised for Massive Growth

Outsourced Debt Collection Services Poised for Massive Growth

Outsourced Debt Collection Services Poised for Massive Growth Out now!  An updated research report titled “Global Outsource Debt Collection Services Market Insights, to 2027” was released by Advance Market Analytics. Due to the current economic climate,...

Use of Third Party Vendors in the Debt Collection Services Industry

Use of Third Party Vendors in the Debt Collection Services Industry The Hunstein Decision The debt collection sector, and the financial services industry in general, was shaken by the 11th Circuit Court of Appeals’ ruling in Hunstein v. Preferred Collection and...
CFPB Rulemaking Table Simplification and Potential Registration of Nonbanks

CFPB Rulemaking Table Simplification and Potential Registration of Nonbanks

CFPB Rulemaking Table Simplification and Potential Registration of Nonbanks The CFPB rulemaking process was the focus of Director Chopra’s most recent blog post, “Rethinking the approach to regulations,” posted in July 2022. The CFPB’s efforts...
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