The judge who barred the Trump Administration from dismantling the CFPB says the agency cannot implement plans to fire the majority of the bureau’s employees at this stage.
Sea of Green (and not the good kind…)
Everything was up in March (TCPA +23.5%, FCRA +5.2%, FDCPA +27.7%) over February, and only FDCPA (-8.7%) was down YTD over 2023, while TCPA (+35.5%) and FCRA (+8.5%) were also up YTD. Welcome to spring!
CFPB complaints were also up for the month (+16%) and the year (+116.4%!)
The FDIC today took action to modify its approach to insured depository institution (IDI) resolution planning. The purpose of this action is to focus the IDI resolution planning process on the operational information most relevant for the FDIC to (1) resolve a large bank through a weekend sale or (2) operate the institution for a short period of time while rapidly marketing the institution.
The Office of the Comptroller of the Currency (OCC) announced today that it has conditionally approved the merger of Discover Bank, Greenwood, Delaware, into Capital One, National Association, McLean, Virginia.
Collections executives must navigate an increasingly complex world where debt settlement and debt resolution are evolving to meet the demands of digital-savvy consumers. The traditional methods are making way for innovative solutions, including partnerships with debt settlement companies and the integration of financial apps as powerful collections channels. Moreover, unpredictable changes in federal and state regulations will demand adaptability and foresight from industry leaders. In this article, we will delve into the top ten predictions that will shape the future of the collections industry, equipping executives with the insights needed to maintain a competitive edge. Read about other trends here.
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