Experts say to expect substantial changes in the ways credit unions manage debt recoveries.
Following a consent order against Navy Federal, experts address questions about the $77B CU’s collections practices.
The bureau will soon discuss separate rules that address first-party debt collectors such as credit unions.
Having more account info on hand allows collectors to better prioritize their work, study says.
Help is available to credit unions when further steps must be taken to collect on a loan.
The agency's potential pursuit of credit unions for UDAAP violations is a legitimate concern.
Credit union is the 10th to sign up for Akcelerant's lending platform; more than 500 CUs use its collections software.
The VyStar Credit Union collections operations supervisor focuses on teamwork, solutions and mentoring in his department.
Comments from the public will assist the CFPB with a report to Congress.
Debt sales and collection agencies, traditionally shunned by credit unions, can boost the bottom line without sacrificing reputation.