Mish Dec 23, 2020 Need Credit? You may be out of luck, especially on credit card requests. Credit Access Largely Down during the Pandemic The New York Fed Credit Survey shows credit applications are mostly lower with rejections higher. The … Continue reading →
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By buying a rewards company, JPMorgan Chase, whose services include the Chase Sapphire card, can have a broader role. Photo: Jenny Kane/Associated Press With people traveling less and spending more on digital platforms, banks with big credit-card units may have … Continue reading →
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On December 21, the CFPB issued an advisory opinion addressing ECOA’s implementing regulation, Regulation B, as it applies to certain aspects of special purpose credit programs (SPCPs). The CFPB issued the advisory opinion in response to feedback from the Bureau’s … Continue reading →
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In the latest ACA Huddle, which is part of the series on part two of the Consumer Financial Protection Bureau’s final debt collection rule, members discussed in-depth credit reporting practices as they relate to the rule taking effect on Nov. … Continue reading →
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In the latest ACA Huddle, which is part of the series on part two of the Consumer Financial Protection Bureau’s final debt collection rule, members discussed in-depth credit reporting practices as they relate to the rule taking effect on Nov. … Continue reading →
Read more: creditandcollectionnews.com
Collection House (CLH) shares have plummeted after being reinstated, following the company’s completion of its recapitalisation process The company completed the process after selling its purchased debt ledger to Credit Corp (CCP) for an upfront price of $160 million Collection … Continue reading →
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Demand for consumer credit in the US has fallen dramatically during the Covid-19 crisis, with credit card applications falling to multiyear lows, according to a Federal Reserve survey released on Monday. The proportion of households applying for any form of … Continue reading →
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Internal fraud Credit union insider fraud cases did not take a holiday in 2020, but they substantially declined, presumably because of the coronavirus economic and health crisis. There were 10 internal fraud cases, and three former credit union employees who … Continue reading →
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The rate of U.S. credit card defaults was mixed in November for major issuers amid the coronavirus-induced economic slowdown. Credit card loans are charged off after consumers are delinquent on numerous payments and a bank determines that the loans won’t … Continue reading →
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Thursday, December 17, 2020 In a putative class action concerning Experian’s marketing of its “Experian Credit Score” service, the Ninth Circuit recently affirmed a lower court order granting Experian’s motion to compel arbitration based on an arbitration clause in its … Continue reading →
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