HARRISBURG– As a result of action by the Office of Attorney General and the Federal Trade Commission, debt collection company International Credit Recovery, Inc. (ICR), officer Richard Diorio, Jr., and manager Cynthia Powell, have agreed to a permanent ban from the debt collection industry after being charged with engaging in bogus debt collection efforts against businesses and non-profits.
ATLANTA, May 3, 2023 /PRNewswire/ -- LexisNexis® Risk Solutions released its latest Small and Midsize Business (SMB) Lending Fraud Study. Based on a survey of lenders, SMB lending fraud has increased significantly during the past 12 months, with many smaller banks, credit unions and fintechs expecting fraud levels to worsen over the next year.
WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, wrote a letter to Martin Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC), outlining concerns with Tellus, a nonbank “fintech” company that advertises high-interest savings accounts, despite not being insured by the FDIC. In his letter, Brown urged that the FDIC review Tellus’ business practices to ensure that customers are protected from financial fraud and abuse.
The credit repair regulations were a focus of the Washington Collectors Association’s advocacy this legislative session. The robocall law contains exemptions for collection agencies.
NEW YORK (AP) — If, as expected, the Federal Reserve raises interest rates yet again Wednesday in its drive to cool inflation, much of America will be directly affected.
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