Consultant

An NBC Nightly News report that aired this month shared a couple of exciting credit scoring changes that will help improve the credit of millions of U.S. consumers. But before you get too excited, make sure you understand these changes and how they will (or won’t) affect you. Here’s what

The Consumer Financial Protection Bureau (CFPB) has released a special report that details the problems in the credit reporting industry that the CFPB has uncovered and corrected through oversight work and outlines actions the CFPB has taken to address these problems such as fixing data accuracy at credit reporting companies,

The Better Business Bureau is changing their Type of Business policy on Credit Repair Companies. To get a No Advance Fees determination one must have a policy to NOT charge any fees up front. RATING ELEMENTS BBB ratings are based on information in BBB files with respect to the following

The Consumer Financial Protection Bureau (“CFPB”) recently released a report detailing the results of a first-of-its-kind survey on consumer experiences with debt and debt collection. The CFPB conducted the survey in connection with its ongoing effort to promulgate the first-ever federal debt collection regulations. The agency sent the survey to

In Ho v. ReconTrust Co., No. 10-56884, 9th Cir.; 2016 U.S. App. LEXIS 18836 (October 19, 2016), a borrower sued a foreclosure trustee, ReconTrust, and others, asserting that recording a notice of default and other statutorily mandated notices violated the FDCPA because they misrepresented the amount owed on the mortgage

The Ninth Circuit recently clarified when a trustee of a deed of trust acts as a debt collector under the Fair Debt Collection Practices Act (“FDCPA”).[1] In a break from other courts of appeal, the Ninth Circuit held that when a trustee carries out the contractual and statutory requirements

On September 8, 2016, the Fifth Circuit Court of Appeals issued an opinion interpreting the Fair Debt Collection Practices Act (“FDCPA”)1in a way that further constrains the actions of debt collectors. The Fair Debt Collection Practices Act Congress enacted the FDCPA to protect consumers against abusive debt collection

The OCC, Federal Reserve and FDIC recently adopted final revisions to the Interagency Questions and Answers Regarding Community Reinvestment (Q&A) based on proposals the agencies issued September 10, 2014. The revisions – which clarify nine Q&As, revise four Q&As and adopt two new Q&As – provide guidance as to how

The major credit reporting agencies have a big change in the works that could bolster a lot of people’s credit scores. As part of its National Consumer Assistance Plan (the result of a settlement brokered with 31 state attorneys general back in 2015), Equifax, Experian and TransUnion are planning to significantly reduce the

What it means is exactly what you think. What you or your agents say to the clients on the phone will ultimately determine whether you are in violation of the law. Sales agents are notoriously savvy at blurring disclosures in their favor. Their primary goal is to enroll clients to