Spokane-based Global Credit Union has merged with Alaska USA Federal Credit Union, making it one of the largest financial cooperatives in the country. Under the merger, which closed Monday, the combined organization will have 760,000 members, more than 2,000 employees and hold $12 billion in assets.
June 2022 wasn’t particularly robust, nor lackluster, nor surprising. FDCPA lawsuits were down a bit (-3.7%) while TCPA and FCRA lawsuits were up a bit (+4.8% and +.9% respectively). FDCPA and TCPA suits are still down double digits YTD (-20.7% and -28.8% respectively) while FCRA suits are still up YTD (+4.4%). CFPB complaints against debt collectors were down a bit (-1.3%) for the month and down a bit more YTD (-10.1%).
The CFPB recently published a Request for Information (RFI) “seeking comments related to relationship banking and how consumers can assert the right to obtain timely responses to requests for information about their accounts from banks and credit unions with more than $10 billion in assets, as well as from their affiliates.”
SAN JOSE, Calif. & HILLSBORO, Ore.–(BUSINESS WIRE)–Always eager to “chip” in, First Tech Federal Credit Union—the nation’s eighth largest credit union—together with First Tech employees and members, business leaders and credit unions from across the region raised more than $1.6 million dollars as part of the annual Credit Unions for Kids fundraising campaign, benefiting children and families served at Children’s Miracle Network Hospitals.
CFPB Clarifies Stance on Electronic Communications and Time and Place Restrictions Through Updated Debt Collection FAQs
The CFPB has updated its Frequently Asked Questions (FAQs) to its Debt Collection Rule (Regulation F), 12 C.F.R. § 1006; Consumer Financial Protection Bureau, Debt Collection Rule FAQs, (last updated July 27, 2022), https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/debt-collection/debt-collection-rule-faqs/, which address questions related to the electronic communications and restrictions on communications at unusual or inconvenient times. Both debt collectors and creditors should take notice.
DCS2022 Features Best Selling Author as Keynote – The Ethics of Artificial Intelligence in Financial Services
The “Don’t Miss Keynote”: The Ethics of Artificial Intelligence in Financial Services is just one of many interesting and insightful featured speakers and panels at Debt Connection and Symposium this year. The keynote speaker, Clara Durodié, is a technology strategist specializing in the business and governance of artificial intelligence (AI) in financial services. Join best selling author and Oxford pHD, Clara Durodie, for engaging discussion on the ethics and impact of the use of artificial intelligence in financial services. www.dcs2022.com
Attorney General Ellison protects Minnesotans from unfair billing and collections with extension of Hospital Agreement
July 27, 2021 (SAINT PAUL) — Minnesota Attorney General Keith Ellison announced today that his Office has negotiated an extension to the regulatory agreement that the Attorney General’s Office holds with all nonprofit hospitals in Minnesota, referred to as the “Hospital Agreement.” The Agreement provides important protections to Minnesotans who receive healthcare services at Minnesota’s hospitals by protecting patients from abusive, harassing, and deceptive practices when hospitals seek to collect medical debt. The Agreement also provides discounts on healthcare services for certain patients and prohibits unfair practices in billing and collections.