Palinode
@palinode_io
Sonnet by Palinode - The World’s Most Effective Automated Credit Dispute Resolution System.
In this article, CUNA makes a good case as to why changing the credit reporting system could hurt low and middle income borrowers. How do you think inaccurate credit reporting will affect our financial system? #CreditReport #Lender #Borrower buff.ly/3hRtsrC
Ken Sweet in an article states that, ”The White House reportedly has not wanted Rohit Chopra to move over to the CFPB until a replacement can be found for him at the FTC.” This means that Interim Director Uejio will remain the director of the CFPB for now. #CFPB #Compliance
In the past 100 days the CFPB's interim director has prepared the way for increasing enforcement as the next director is confirmed. Compliance needs to be a major focus for any financial institution in the years to come. What are you doing to get ahead of this? #Compliance
Kate Berry from American Bankers ask this question and seems to say COVID-19 and credit repair agencies could be among the reasons credit complaints are increasing. Why do you think credit complaints are rising? #creditcomplaints #banking buff.ly/3bgaoPO
This article describes some potential areas of focus for the CFPB in the coming years. How will this impact you? Share your thoughts on what you think the CFPB will focus on and how this will affect you. #ThursdayThoughts #CFPB #Finance buff.ly/3t2ZG52
According to this article by ABA, delinquencies rose during the fourth quarter of 2020. Although this trend is not predicted to continue, this could come back to haunt your financial institution as the CFPB increases scrutiny on compliance. #future #credit buff.ly/3gxey9m
The CFPB is proposing rule changes to block all loan servicers/lenders from initiating foreclosures until after the end of this year. Mortgage servicers should be prepare for a “tidal wave” of distressed homeowners. #ConsumerComplaints #CFPB #Finance buff.ly/3e6FPfL
Consumer complaints are up by almost 54% from 2019 to 2020. This situation is directly attributable to COVID-19 and is a problem from a compliance standpoint for data furnishers. Sonnet, Palinode’s credit dispute automation software, can help organizations with this. #automation
Come meet the Palinode team at the annual RMAi conference hosted in the Aria Resort and Casino, Las Vegas. #RMAi #conference #innovation
We are excited to announce that we will once again be exhibiting onsite at the 2021 RMAi Annual Conference on April 12th-15th and we hope to see you there! #RMAi #conference #compliance #creditdispute
Bloomberg Law says, “On site examinations are up." For financial institutions this means the CFPB examiners will want to see a proper dispute process in place. Palinode can help. #CFPB #compliance buff.ly/3vYjE3C
In his recent session before Congress, the CFPB Director nominee, Rohit Chopra, stated that under him the CFPB would place an importance on consumer redress and fair lending enforcement. #compliance #CFPB #creditrepair buff.ly/38StIBr
Palinode is helping sponsor the LSCI’s Collection Institute’s Online Conference, where you’ll get access to the top collections expert in the credit union industry.Although day one is well underway, it’s not too late to gain need collections knowledge from this virtual
Free weekly credit reports have been extended for another year which means more credit disputes for the back office. Sonnet, our credit dispute automation software, will allow you to resolve credit dispute investigations in a more efficient way. buff.ly/3cdzAWw
The beginning portion of this article is a must read to understand the transition of oversight for fintech companies from the FTC to the CFPB. #FTC #CFPB #Banking #CreditUnions buff.ly/3uXuBSG
The CFPB is adding new attorneys to their workforce. With this expansion, the CFPB will likely be examining financial institutions with greater rigor and more often. Are you ready for a credit reporting examination? #creditdispute #compliance #CFPB buff.ly/3bzUdMj
A recent viral tweet about Credit Karma has sparked a debate about what scores consumers receive versus what lenders actually use. This article captures some of the nuances between why these differences exist, and what that means for borrowers. buff.ly/3rDuIAa
According to a Coronavirus Poll, 51% of US adults have added to their credit card debt during the Pandemic. For financial institutions that report to CRAs, this could lead to an increase in consumer disputes. #wecanhelp #pandemic #creditcarddebt buff.ly/3cGVW4L
Chopra will most likely reinvigorate the CFPB. If efficiency and compliance around consumer credit dispute investigations is an function your organization is looking to improve, then you need to connect with Palinode. #compliance #CFPB buff.ly/3iUVHEg
Once Biden is inaugurated, Rohit Chopra will be the new director of the CFPB, which could result in increased regulation and a more consumer friendly CFPB. #CFPB #Compliance #CreditDisputes #WeCanHelp buff.ly/3irs5hz
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