Collections news at your fingertips

Stay up-to-date with the latest news and developments in the collections industry.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

December

8
2023
Industry News

Coast Central Announces Five Member Services Promotions

Five employees have recently been promoted at Coast Central Credit Union, including two newly created positions. “We are excited to recognize these outstanding female leaders and their contributions to Coast Central over a collective 50 years with well-earned promotions,” stated James T. Sessa, President & CEO. “

Read post

December

8
2023
Industry News

PenFed Credit Union Joins 4 +1 Commitment Supporting Military Spouse Employment

TYSONS, Va., Dec. 7, 2023 /PRNewswire/ -- PenFed Credit Union, the nation's second-largest federal credit union, today announced it joined as an initial signatory of Blue Star Families and the US Chamber of Commerce Foundation's Hiring Our Heroes Program 4+1 Commitment supporting military spouse employment. The commitment is a first-of-its-kind, nationwide effort to tackle the 21% unemployment rate among military spouses.

Read post

December

8
2023
Trends

U.S. Households Pay $1,268 a Year in Hidden Costs Associated With Paying Bills, up 29% Year over Year

SEATTLE, December 07, 2023--(BUSINESS WIRE)--A new report released today by doxo found that hidden costs associated with paying bills amount to an additional $167 billion annually, averaging $1,268 per household.

Read post

December

8
2023
Industry News

OCC Report Identifies Key Risks Facing Federal Banking System

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Fall 2023. The OCC reported that the overall strength of the federal banking system remains sound. The OCC expects banks to remain diligent and adhere to prudent risk management practices across all risk areas.

Read post

December

8
2023
Industry News

FTC amends Safeguards Rule to require non-banking financial institutions to report data breaches

The FTC’s Safeguards Rule—and the Final Rule—apply to non-banking financial institutions, such as mortgage brokers, auto dealers, and payday lenders. The Final Rule will put such entities in a similar position as regulated banking organizations, which, under the Interagency Guidelines Establishing Information Security Standards,1 are required to notify their primary federal regulator of “incident[s] involving unauthorized access to or use of sensitive customer information.2

Read post

Weekly newsletter

Get DebtHub's weekly newsletter, packed with the latest economic trends, compliance news, and strategy insights that matter to collections professionals like you.