Mortgage lenders offering home equity contracts must comply with laws like the Truth in Lending Act, according to the Consumer Financial Protection Bureau. The regulator issued a report, consumer advisory and amicus brief having to do with home equity contracts, according to a said Wednesday...
TransUnion says it plans to acquire British credit prequalification/distribution platform Monevo. The credit reporting agency announced the deal Wednesday (Jan. 8), noting that it already owned 30% of Monevo’s equity after purchasing a minority stake in 2021. “We are committed to making trust possible in global commerce by...
Medical debt will no longer appear on consumers’ credit reports under a new government rule. The Consumer Financial Protection Bureau (CFPB)’s newly-finalized regulation, announced by the White House Tuesday (Jan. 7), will remove $49 billion in medical debt from more than 15 million Americans’ credit reports. That means lenders...
Eltropy acquired Lexop, saying the combination of the companies’ technologies will help community financial institutions (CFIs) reduce and prevent delinquencies, collect faster and enhance borrower experiences. The acquisition will add Lexop’s collections technology to Eltropy’s artificial intelligence-powered unified conversations platform, the companies said in a...
January 03, 2025
In the financial services market, credit unions (CUs) and financial technology (FinTech) companies are moving from rivals to partners. As consumer demand for seamless banking increases, they are collaborating to improve efficiency and member experiences. Despite challenges like slow decision-making and incompatible systems, a PYMNTS Intelligence report, “Dream Team: Credit Unions and FinTechs Partner to […]
December 19, 2024
Embedded lending, the integration of credit offerings into platforms where consumers and microbusinesses (MSBs) can apply for credit directly during a transaction, is gaining traction across major global markets. According...
November 22, 2024
Banks and credit unions may feel like they offer a best-in-class digital experience — and the readiness to offer new services and options — when it comes to bringing lending...
November 20, 2024
Credit is getting harder to come by, especially for auto loans, mortgages and those with low credit scores. Amid an environment where lenders are tightening, borrowers are feeling discouraged. The...
January 15, 2025
Mortgage lenders offering home equity contracts must comply with laws like the Truth in Lending Act, according to the Consumer Financial Protection Bureau. The regulator issued a report, consumer advisory and amicus brief having to do with home equity contracts, according to a said Wednesday (Jan. 15) blog post. Describing these relatively new financial products […]
January 08, 2025
TransUnion says it plans to acquire British credit prequalification/distribution platform Monevo. The credit reporting agency announced the deal Wednesday (Jan. 8), noting that it already owned 30% of Monevo’s equity after purchasing a...
January 07, 2025
Medical debt will no longer appear on consumers’ credit reports under a new government rule. The Consumer Financial Protection Bureau (CFPB)’s newly-finalized regulation, announced by the White House Tuesday (Jan. 7), will remove $49...
January 06, 2025
Eltropy acquired Lexop, saying the combination of the companies’ technologies will help community financial institutions (CFIs) reduce and prevent delinquencies, collect faster and enhance borrower experiences. The acquisition will add...
