Current But Brittle: Consumers Staying on Top of Bills While Repayment Timelines Stretch
- Nearly 9 in 10 households say they paid all or nearly all of their bills on time over the past three months. Sounds like good news, until you see what they are doing to stay current. New Achieve survey data reveals the stopgaps consumers are leaning on, how long they expect repayment to take, and why the numbers should have anyone watching roll rates paying close attention.
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Judge Grants Part of CRA’s MTD FCRA Case Over Loan Mod Reporting
- A consumer made every reduced payment under his mortgage loan modification, but his credit report told a different story. A federal judge in Illinois has now weighed in on a question that splits courts in the district: does the reasonable procedures requirement stop at the moment a dispute is filed? The answer decided which claims survived, and which one did not.
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Judge Dismisses FDCPA Suit Against Servicer, CEO Over Statements Sent to Ex-Spouse
- She owned the property. Her ex-spouse owed the debt. When mortgage statements kept arriving addressed to him, she sued the servicer and its CEO under the FDCPA. A federal judge in Connecticut has now dismissed the case, explaining exactly where the complaint fell short, and closing with a pointed warning about something else the judge spotted in her briefs.
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TSA PreCheck for Banking? Pilot Tests End of Repeated Identity Checks
- Imagine verifying your identity once and carrying that trusted credential from institution to institution. A pilot launched this summer, coordinated with Treasury, FinCEN, the OCC and the FDIC, is testing exactly that. The legal foundation has existed since 2003, so why hasn’t it worked at scale before now? And what are the fine-print limits every compliance officer should know?
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How a $1.6B CU Used AI to Tame Its Cybersecurity Backlog
- A credit union serving the U.S. Senate was drowning in roughly 100 new potential breach points every day, with each one triggering a manual investigation that could last days. Then it deployed an AI platform and cut vulnerability resolution time by 75%. The lessons translate directly to collection shops juggling sensitive consumer data, aging tech stacks and lean security teams.
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Wisconsin Appeals Court Affirms Judgment for CU
- A defendant fighting a vehicle repossession argued her auto loan had been “securitized” and that she was entitled to use the loan’s own proceeds to make her payments. The Court of Appeals of Wisconsin was not persuaded, but the most memorable part of the ruling may be the court’s caution about where her legal citations appear to have come from.
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43 Companies Seeking Collection Talent
- From entry-level collectors to directors of collections and recovery, from creditors rights attorneys to AI solutions specialists, this week’s roundup gathers dozens of open positions across the ARM industry in one convenient place. Remote roles included. Whether you are hiring or looking, it is worth a scroll.
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WORTH NOTING: All those worries and concerns about data centers don’t appear to be impacting property values yet … The area codes where the volume of robocalls is spiking … How to tell if that panicked call from a loved one is real or not … Seven things that are considered normal here in the United States, but are considered to be weird everywhere else … Wallethub with a breakdown of the household debt situation for Americans … It’s not just the em-dash: how to spot AI writing … Do Gen Z and Millennials have different habits when it comes to using the phone? … The extreme lengths that parents are going to in order to get school supplies for their kids.
Wisdom Wednesday, part I
Wisdom Wednesday, part II
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