Comments from U.S. Rep. Patrick McHenry, chairman of the House Financial Services Committee, highlight how the bureau’s new rule on credit card late fees raises the cost of borrowing for all consumers and is politically motivated.
The US Federal Reserve's progress in bringing down inflation is "not assured," the chair of the country's central bank told lawmakers in Washington Wednesday, on the first of two days of hearings in Congress.
The BUMP IT UP! collection class has transitioned from strictly an onsite classroom into the virtual realm! Now, from the comfort of your own office, and with your own team, collection professionals can finetune their collection skills and performance. The BUMP Call Monitoring Program reinforces the BUMP Call Model and provides a Bump Scorecard tool that collection managers and supervisors can use to evaluate how well each collector is executing their calls.
The healthcare sector is increasingly facing cyber-threats with ransomware and hacking at the forefront. In the last five years, there has been a staggering 256% rise in significant hacking-related breaches and a 264% surge in ransomware incidents reported to the U.S. Department of Health and Human Services (HHS) Office for Civil Rights (OCR). Hacking alone was responsible for 79% of the major breaches reported to OCR in 2023.
Last month, a top financial industry regulator voiced concerns that banking and FinTech collaborations might be “blurring the lines” between banking and commerce. According to Michael Hsu, CEO of the Office of the Comptroller of the Currency (OCC), such “blurring” can undermine public confidence in the financial services industry, just as it did in the months leading up to the 2008 global financial meltdown.
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