Economic pressures are mounting, and the landscape of debt collection is poised for a significant transformation in 2025. PYMNTS.com reported recently that 67% of Americans feel they are living paycheck-to-paycheck. This financial strain should reshape how banks and lenders approach recovering debts.
The Office of the Comptroller of the Currency (OCC) has commenced removing references to banks’1 reputation risk from its Comptroller’s Handbook booklets and guidance issuances. Concurrently, the OCC has instructed its examiners that they should no longer examine for reputation risk.
Today’s podcast show features a discussion with Professor Gregory Klass of Georgetown University Law School about an article he co-authored with Professor Ian Ayres, entitled “How to Use the Restatement of Consumer Contracts: A Guide for Judges.” The article will be published this year in the Harvard Business Law Review (vol 15), and is available here.
On March 18, President Donald Trump dismissed the two Democratic commissioners from the Federal Trade Commission (FTC). The removal of Commissioners Alvaro Bedoya and Rebecca Kelly Slaughter has sparked significant controversy and legal challenges.
Innovation is top of mind for consumers — nearly half of them say they would entertain the idea of switching their allegiance to a financial institution (FI) that serves up the digital-first products and services designed to make day-to-day financial management easier.
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