FDCPA CLASS ACTION ACCUSES COLLECTOR OF MAKING DECEPTIVE SETTLEMENT OFFER
- A class-action lawsuit has been filed in Florida against a company for allegedly violating the Fair Debt Collection Practices Act by offering a settlement to an individual in a collection letter without being specific enough even though the letter disclosed “if your account is settled for less than the full original balance it will cause future collection efforts to cease.”
NEW JOB LISTINGS – DECEMBER 22
- Click here to see a sampling of job listings in the accounts receivable management industry that have been posted recently. The listings offer insight into who is hiring, what they are offering, and opens doors to potential new opportunities.
LENDUP TO STOP MAKING NEW LOANS, COLLECTING ON CERTAIN EXISTING LOANS, UNDER SETTLEMENT WITH CFPB
- Three months after it was sued by the Consumer Financial Protection Bureau for violating a 2016 consent order for a number of alleged violations, LendUp Loans has agreed to stop making new loans and collecting on certain outstanding ones while also paying a fine of $100,000, the Bureau announced yesterday.
LENDERS TO MAKE MORE SUBPRIME LOANS IN 2022, DELINQUENCY RATES EXPECTED TO RISE: TRANSUNION
- Creditors and lenders are going to be a little more aggressive in their risk-taking in 2022, according to data provided by TransUnion, thanks to delinquency and charge-off rates that have remained stable through this year. Many lenders tightened their underwriting criteria during the pandemic and are now ready to start loosening those guidelines and originating more loans to borrowers with less-than-perfect credit, according to the company.
PRODIGAL’S SCOTT HAMILTON AND SON SELL HAND-TURNED WOODEN BOWLS TO FEED THE HUNGRY
- Prodigal, a leading AI driven loan servicing and collections automation platform, is a team with a strong shared drive for serving others in the community. In their personal lives, they strive to be good stewards of what they accomplish in their professional lives.
WORTH NOTING: The coolest winter ice castles and sculptures in America … Employees across the country are burned out and bosses are struggling to respond … The 13 states you might not want to consider retiring in … The CDC is considering shortening the 10-day quarantine period for vaccinated people who test positive for COVID-19 … How dangerous is it to use Buy Now Pay Later services when making purchases … I’m a sucker for a good multi-tool. Here are some of the best ones … People are quitting their jobs to make money trading cyptocurrencies … The population of the United States is growing at its slowest rate ever.
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