As both credit unions and members recover from the Great Recession, a thoughtful approach to strengthening collections makes it possible to find solutions for members, reclaim loan funds, and refine lending operations.
The CFPB released the results of its survey on debt collection Thursday, prior to its discussion on the same topic. The survey, which consisted of 53 questions about first- and third-party debt collection, does not specifically identify credit unions.
The CFPB will discuss debt collection at a public event Thursday, scheduled to begin at 11 a.m. (ET). The event will feature remarks from CFPB Director Richard Cordray and will be streamed live online.