Deciding when to end a relationship with a collection agency is rarely easy. In some cases, the decision is clear—fraud, non-compliance with regulatory requirements, serious contract violations—these are all non-negotiable deal-breakers. But what about when an agency is simply underperforming? Or when they fail to provide the level of transparency and data you need?
On January 8, Senate Bill No. 1252 (SB 1252) was introduced to the Virginia General Assembly, aiming to amend and reenact sections of the Code of Virginia related to the application of usury rates. Just two weeks ago, the bill was passed by both the House and Senate. Opponents of the bill contend that the language and effect is very unclear, but that broad language and stringent provisions could stifle innovation and ultimately harm consumers by limiting their access to credit.
Washington lawmakers are taking steps to change how medical debt affects credit scores.
Earlier today Jonathan McKernan, President Trump’s nominee to head the CFPB, pledged that the agency would “implement and enforce the federal consumer financial laws and perform each of its other statutorily assigned functions.”
U.S. companies public and private across all industry verticals have come to use representations about technology, including the company’s data security and privacy practices, as a marketing tool. Before touting the ways in which a company protects its systems and customer data, however, organizations would be well advised to appreciate the potential pitfalls.
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