A recent executive order has expanded presidential supervision over both the executive branch and independent regulatory agencies, such as the Federal Communications Commission (FCC) and the Federal Trade Commission (FTC). The order introduces new oversight measures aimed at ensuring greater accountability and coordination across federal agencies.
Chief Judge Virginia Kendall of the Northern District of Illinois has extended her preliminary injunction prohibiting Illinois from enforcing the Illinois Interchange Fee Prohibition Act (the “IFPA”) to cover out-of-state banks conducting business in the state.
Proactive payment strategies play a pivotal role in sustaining consumer trust and minimizing the need for renegotiations in the debt resolution ecosystem. For lenders and collectors, gaining advance notice of potential missed payments can significantly streamline operations. This foresight allows lenders to strategically plan and prepare, fostering an environment of compliance and collaboration. By reporting these potential missed payments ahead of time, Advisors can maintain the continuity of agreed-upon payment plans without the hassle of renegotiating settlements, preserving valuable relationships.
Providing effective feedback isn’t just about pointing out mistakes.
It also includes offering guidance on how to correct the issue and prevent it from happening again.
Simply telling a collector they did something wrong without giving them the tools to improve is like shouting “You’re going the wrong way!” without explaining how to turn around.
Earlier this year, PYMNTS Intelligence detailed that pay-later options were drawing widespread use among consumers versus payments via traditional credit cards.
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