These days, criminals have turned to internet-based transaction laundering to disguise profits from unscrupulous and illegal enterprises. Transaction laundering has also been referred to as factoring, undisclosed aggregation, and electronic money laundering, and it occurs [...]
The best business leaders listen to their employees and go out of their way to solicit feedback and input. All employees want to feel valued and heard, and when you empower your employees to share [...]
Ensuring that your collections operation is compliant with the various state and federal regulations is no easy task. You’re required to have policies and procedures in place to ensure that your team is operating [...]
Not everyone is familiar with how valuable the role of dealer relationship officer can be for a financial institution. I sat down with Jennifer Cook and Tiffany Nelson, the dealer relationship officers at Security Service [...]
While interest margins have improved this year, up 7 basis points from 3Q 2019, according to creditunions.com1, financial institutions are still in a position that requires them to create revenue streams beyond lending. However, [...]
It’s hard to believe that we’re officially in November with 2020 at our doorstep. This is the time of year when business leaders and employees alike begin to fall into holiday mode, taking [...]
With a strong economy and an increase in jobs and wages, consumers have more confidence when it comes to their spending habits. These spending habits have impacted the number of loans that lenders are offering [...]
It seems that rarely a day goes by that we don’t catch wind of a case of identity theft. According to an estimate by the FTC1, around nine million Americans’ identities are stolen each [...]
The housing market is quite fickle. It’s impacted by economic factors that are often difficult to understand, and typically leaves consumers and lenders alike on the hunt for information in an attempt to make [...]
Refinancing your home can have many benefits, but the main one that typically entices borrowers is the potential to save money on monthly payments. For some, a refinance could result in a decreased interest rate [...]
You keep hearing about the digital revolution—technology is becoming more and more integrated into our daily lives. The way financial institutions transact and communicate with borrowers has evolved as well, largely due to changes [...]
If your financial institution works with a third-party vendor for your collections efforts, you know how important it is to ensure your partners perform at an optimal level. To properly evaluate whether your outsourced partner [...]
Financial institutions and borrowers alike have breathed a collective sigh of relief over the last decade as the U.S. economy has improved from the dark days of the Great Recession. Delinquencies are not what [...]
Historically, there are a few key indicators that can signal a potential rise in interest rates. Perception of a robust economy, increased consumer spending, and high employment levels could all combine to lead to a [...]
Financial institution auto loan portfolios continue to grow annually. In fact, Experian1reported that auto loan balances climbed to $1.18 trillion in the first quarter of 2019, a 6.5% increase from 2018. And, as [...]
