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.

May

30
2023
Industry News

NYSDFS Fines Lender and Mortgage Servicer $4.25M for Cybersecurity Failures Including Vendor Management

May 25, 2023, New York’s Department of Financial Services (“DFS”) announced another enforcement action under the state’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R. Part 500 (“Reg 500”).

Read post

May

30
2023
Industry News

CFPB Begins to ‘Muscle Up’ AI Regulations

America’s consumer watchdog is among the many organizations beefing up its artificial intelligence (AI) safeguards. In an interview with The Associated Press on Friday (May 26), Consumer Finance Protection Bureau (CFPB) Director Rohit Chopra said his agency has “already started some work to continue to muscle up internally when it comes to bringing on board data scientists, technologists and others to make sure we can confront these challenges.”

Read post

May

30
2023
Trends

Strong US consumer spending, inflation readings put Fed in tough spot

WASHINGTON (Reuters) - U.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter, and inflation picked up, which could prompt the Federal Reserve to raise interest rates again next month.

Read post

May

30
2023
Trends

Overall US Mortgage Delinquency Rate Drops to All-Time Low in March, CoreLogic Reports

IRVINE, Calif., May 25, 2023--(BUSINESS WIRE)--CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for March 2023.

Read post

May

26
2023
Industry News

Florida Legislature Passes Privacy Law

On May 4, the Florida House passed an amended version of SB 262, a bill establishing the Florida Digital Bill of Rights. The bill now moves to Governor Ron DeSantis’s desk for signature. If enacted, SB 262 would be an important development for certain companies that meet the law’s narrow definition of a “controller” but overall has a narrower scope than the “comprehensive” privacy laws that have passed in other states this year (Iowa, Indiana, Montana, and Tennessee).

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.