WebRecon Stats for May 2019: FCRA Down, Everything Else Up (and the unexpected resurgence of a familiar name)
Our legal strategies and outsourcing panel is making its way back to DCS2019, to be held September 10 – 12, 2019 at the Red Rock Hotel in Las Vegas. Join Manny Newburger, Dave Snyder, and Brian Winn for a panel on optimizing the legal collection strategy for your company. Hear how you and your clientele can have a positive relationship and productively collect on legal accounts. This 45 minute glimpse into the inner workings of a successful legal operation will be a great learning experience for all!
A Fort Worth financial firm will cancel its outstanding loans and pay nearly $40 million to consumers after engaging in an alleged payday lending operation that used Native American tribes as shields from state laws. Think Finance Inc. serviced loans that charged interest rates over 375% and locked borrowers into plans in which paying off the loan was nearly impossible, according to a 2016 complaint filed in Vermont.
One of the world’s largest banks is about to join the digital mortgage revolution, as HSBC Bank USA, the U.S. arm of HSBC Group, announced that it is partnering with Roostify to launch a digital mortgage platform. Roostify, a multiple-time HousingWire Tech100 winner and leader in the digital lending space, uses technology that streamlines the mortgage process but also provides consumers with a human-centric approach.
(Bloomberg) — Retrieval-Masters Creditors Bureau Inc., whose business was blamed for a large-scale data breach that affected millions of Quest Diagnostics Inc. customers, filed for Chapter 11 protection, citing fallout from the security issue. The company, which collects patient receivables for medical labs under the name American Medical Collection Agency, listed assets and liabilities of as much as $10 million in its bankruptcy petition filed in the Southern District of New York. It’s aiming to liquidate, the company said.