GLCCA Board Member Spotlight: Rebecca Roberts-Stewart
January 29, 2024
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The May 4 conference will provide students and their families with information to successfully prepare for college. 04/30/2024 2:30 P.M. 2 minute read Boys & Girls Clubs of Delaware, a seasoned leader in youth development, and Navient, an ACA International member company based in Dover, Delaware, are hosting a college planning conference to help young [...] Read More... The post Navient to Host College Planning Conference with Boys & Girls Clubs of Delaware appeared first on ACA International.
The district court decided that New Jersey can require national credit reporting agencies to provide consumers with disclosures in Spanish—but it can’t mandate translation into other languages. 04/30/2024 2:20 P.M. 1.5 minute read A federal district court partially vacated a New Jersey law requiring national credit reporting agencies (CRAs) to translate credit file disclosures into [...] Read More... The post NJ Multi-Language Requirement Stands in Part for CRAs, Judge Rules appeared first on ACA International.
Read the new issue to get insights on technology, how to use TikTok-style training for your employees, why you might need to update your dispute investigation policy and more. 04/30/2024 12:00 P.M. 1 minute read The May/June 2024 online edition of Collector magazine is now available! Stories this month include: Tech Insights from Chief Information Officers Why Your Growth [...] Read More... The post Online Now: May/June Issue of Collector Magazine appeared first on ACA International.
Creditors’ Discount & Audit Co. and Account Management Services are the latest to join the CACi family. 04/29/2024 1:30 P.M. 1.5 minute read Consumer Adjustment Company Inc. (CACi), an ACA International member company based in Saint Ann, Missouri, recently announced the acquisitions of Creditors’ Discount & Audit Co. (CDA) and Account Management Services (AMS). The [...] Read More... The post CACi Continues Growing, Acquires Two More Agencies appeared first on ACA International.
The Florida-based payment plan provider has chosen Skit.ai’s Conversational AI solution to streamline its collection efforts. NEW YORK, NY (April 30, 2024) – Skit.ai, the leading provider of Conversational AI solutions for the accounts receivables industry, announced today its partnership with Uown Leasing, a Florida-based provider of lease-to-own, flexible payment solutions for consumer products. Uown Leasing
Class-Action FDCPA Suit Filed Over Previously Settled Debt Pa. State Judge Dismisses Hunstein Case for Lack of Standing CFPB Report Updates Medical Debt Collection Credit Reporting Data Points Data Breach at Collection Agency Compromises Info on 2M Consumers WORTH NOTING: If you are changing addresses in the next little bit, here is the ultimate moving
A Pennsylvania collection operation has suffered a data breach that has compromised the personal information of nearly 2 million individuals, according to a filing the company has made with the Maine Attorney General. What Happened: Back on February 26, the company — FBCS — discovered unauthorized access to certain systems in its network. The company
The Consumer Financial Protection Bureau yesterday published a research report which updates previously released data on the number of consumers who have medical debt collection tradelines on their credit reports. The report professes that 15 million consumers have a medical account in their credit report, but the share of consumers with a medical debt on
Components of the U.S. Federal Reserve System recently prevailed in two lawsuits in which both plaintiffs – Custodia Bank and PayServices Bank – alleged the defendants were required to grant the plaintiffs’ master account requests and wrongfully denied them master accounts. Both the United States District Court for the District of Wyoming and the United States District Court for the District of Idaho rejected these claims and instead ruled as a matter of law that the respective regional Federal Reserve Banks had discretion to deny the plaintiffs’ requests for a master account. … Continue Reading Continue Reading…
On April 26, 2024, Plaintiffs filed their response to the CFPB’s Petition for a Panel Rehearing with the Fifth Circuit in the lawsuit challenging the CFPB’s credit card penalty fees rule (Rule). On the same date, the Plaintiffs also filed their brief in support of their motion for a preliminary injunction with the Fifth Circuit.… Continue Reading Continue Reading…
The Department of Veterans Affairs (VA) made significant changes to its loss mitigation program this month, launching its awaited Veterans Affairs Servicing Purchase Program, and implementing a 40-year loan modification term. Details of those developments are provided below. Extension to 40-Year Loan Modification Term On April 17, 2024, the VA issued Circular 26-24-8, which extends the available term of its loan modification option.… Continue Reading Continue Reading…
In furtherance of the Biden Administration’s “junk fee” agenda, on Thursday, May 9, 2024, the Consumer Financial Protection Bureau and the U.S. Department of Transportation will host a hearing on airline and credit card rewards programs. CFPB Director Rohit Chopra and Secretary of Transportation Pete Buttigieg will moderate a discussion with the following industry representatives, labor leaders, and consumer advocates: Scott DeAngelo, Executive Vice President and Chief Marketing Officer, Allegiant Air Morgan Harper, Director of Policy and Advocacy, American Economic Liberties Project Andrew Grimm, President and CEO, Apple Federal Credit Union Sara Nelson, International President, Association of Flight Attendants Lukas Johnson, Chief Commercial Officer, Breeze Airways Erin Witte, Director of Consumer Protection, Consumer Federation of America Robert Patrick Cooper, Senior Vice President and General Counsel, OneUnited Bank We will attend the joint hearing and blog about it thereafter. … Continue Reading Continue Reading…
The Buy Now Pay Later ("BNPL")[1] legislation introduced by New York Governor Kathy Hochul officially died last week. However, BNPL legislation introduced last month by New York Assemblymember Pamela Hunter remains active and, similar to the Governor's bill, proposes that New York be the first state to require BNPL lenders to obtain a state license. More › Tags: BNPL, Licensing, New York, New York Department of Financial Services, New York Legislation, Proposed Legislation
Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that complies with the statute [Tex. Civil Practice and Remedies Code Section 16.038] resets limitations even if it is combined with a notice of reacceleration.” Moore v. Wells Fargo Bank, N.A., No. 23-0525, 2024 Tex. LEXIS 156, at *2 (Feb. 23, 2024). More › Tags: Compliance, Corporate Compliance, Mortgage, Mortgage Acceleration, Mortgage Debt, Mortgage Foreclosure, Mortgage Loan Acceleration, Mortgage Loans, Mortgage Servicers, Mortgage Servicing, Regulatory Compliance, Reverse Mortgage, Statute of Limitations, Texas
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) issued its revised rule addressing how financial institutions can appeal their compliance ratings or adverse material findings by the Bureau. The rule is an update to the Bureau's November 2015 revisions. More › Tags: CFPB, Compliance, Consumer Financial Protection Bureau, Financial Regulatory
On January 18, 2024, the United States Supreme Court heard oral arguments in two cases challenging the Chevron doctrine of statutory interpretation, Loper Bright Enterprises, et al., v. Gina Raimondo, Secretary of Commerce (Loper-Bright) and Relentless, Inc. v. Department of Commerce (Relentless). Under the Chevron doctrine, courts are supposed to grant deference to an agency's reasonable interpretation of an ambiguous statute. More › Tags: Financial Regulatory, Regulation, Regulatory, Statutory Interpretation
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