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Posts Tagged ‘collections modernization’

If You Fail To Plan, You Are Planning To Fail

An Industry Wake-Up Call: The CFPB’s Impact on the Medical Debt Collection Space

In recent years, the Consumer Financial Protection Bureau (CFPB) has significantly broadened its oversight, extending beyond major banks to address concerns in various industries, such as payday loan providers, credit reporting agencies, and most recently, the medical debt collection sector. The CFPB’s Dynamic Approach The CFPB’s modus operandi often involves proactively addressing potential issues through […]

Debt Collection Modernization: The Moment for Bold Action

For those of us closely looking over bank results for any signs of an economic recession, there is more evidence that we’ll be there soon if we’re not already here. Wells Fargo announced on July 15th that revenue and profits missed estimates. Of interest was CEO Charlie Scharf expects “credit losses to increase from these […]