Latest news with #Lending
Axios
17-07-2025
- Health
- Axios
Millions of Americans now face a devastating one-two punch on health care
Millions of low-income Americans already face the prospect of losing their health insurance, and now they're looking at another worry: lower credit scores. Why it matters: Poor credit scores not only make it harder to borrow money, but also to accomplish such basic things as land a job or rent an apartment. How it works: The Trump administration last week got a federal court to toss a Biden-era rule that would have removed medical debt from people's credit reports. At the same time, cuts to Medicaid and the Affordable Care Act in the "big, beautiful bill" will likely mean people pay more for health care. The big picture: That means a single medical setback — hospitalization, broken bone, or worse — could crater people's credit scores, if it leads to unpaid bills that wind up in collection. "You really are double hammering households," says Michael Calhoun, president of the Center for Responsible Lending, a consumer advocacy group. Meanwhile, other debts are also about to show up on credit reports, including delinquent student loans, after a years-long pause, and buy-now, pay-later purchases. And cuts to food stamps, or SNAP, present an additional strain. Follow the money: Some argue that it's a win for consumers who pay their bills on time to have more information on their credit reports. But the more data the credit agencies have about people, the more potential there is that consumers get hurt by negative information, says Chi Chi Wu, a staff attorney at the National Consumer Law Center, which was on the losing side of the medical debt ruling. "It's not just you can't get a credit card, but you can't get a roof over your head." The intrigue: Because of the complexities of the U.S. health care system, it might not even be an unpaid bill that snares your credit score. Consumers routinely complained to the Consumer Financial Protection Bureau about medical debt errors on their credit reports, says Julie Margetta Morgan, a former associate director at the agency. Either the insurer should have paid; or the consumer already had, but it still appeared. Sometimes, debt would show up that was a mystery, says Morgan, now president of The Century Foundation, a progressive think tank. These issues can take a while to resolve, and that debt is like a "ticking time bomb," she says. "If you don't get it resolved, it will be reflected on your credit report." The CFPB's research also found that medical debt is not predictive of someone's likelihood to pay other bills. Reality check: There are reasons that the debt bomb may not fully explode here. After the CFPB drew attention to the issue, nine states banned medical debt from appearing on credit scores, including New York, Colorado and Minnesota. And the big credit-reporting firms stopped including medical debt under $500 on credit scores. Since then, the share of Americans with debt in collections has fallen. The firms do not plan on rolling back that change, according to a statement from Dan Smith, CEO of the Consumer Data Industry Association (CDIA), a trade group that challenged the medical debt ruling. What to watch: Medicaid cuts may not materialize. On Tuesday, Sen. Josh Hawley moved to reverse some. The NCLC hasn't yet said if it would appeal the medical debt ruling; though its odds of success are small. The other side:"Information about unpaid medical debts is an important element in assessing a consumer's ability to pay," the CDIA said in its statement.
Finextra
16-06-2025
- Business
- Finextra
Accept/Pay Global launches real-time payments with Interac
Accept/Pay Global (APG) today announced the launch of its Real-Time Payments with Interac product, enabling businesses across Canada to send and receive payments instantly and securely using Interac e-Transfers. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Enterprise customers and financial platforms looking to streamline collections and disbursements can now integrate with our API to deliver speed, convenience, and reliability in payments. The solution is now available to all Canadian enterprises, with a particular focus on high transaction volume use-cases in lending, earned wage access, and insurance. Gajen Pararajalingam, COO of Accept/Pay Global said, "Real-time payments are table stakes for delivering superior customer experiences - whether you're funding a loan, processing payroll, or settling claims. Our Interac-powered solution allows clients to move funds instantly to any Canadian bank account, securely and at scale." The Real-Time Payments with Interac product is designed to support: Instant loan disbursements for online and alternative lenders Real-time payroll and earned wage access (EWA) programs for on-demand payments Claims and customer payouts for insurance providers Faster B2B settlements and vendor payments Accept/Pay Global's API-driven platform enables seamless integration of real-time payments into existing business systems — supporting full audit trails, reporting, and automated reconciliation. Key Benefits: Instant Payments to any Canadian bank account via Interac Enterprise-grade API integration for automated payouts at scale 24/7/365 availability, including evenings, weekends, and holidays Real-time visibility into payment status and delivery Built-in compliance and fraud monitoring for regulated industries "With Accept/Pay Global's Real-Time Payments with Interac, our clients can give their customers exactly what they expect — instant access to funds," added Gajen. "We're excited to help businesses modernize their payment infrastructure and unlock new competitive advantages." Real-Time Payments with Interac is now live and available to Accept/Pay Global customers across Canada. The solution is offered as a standalone API product or as part of APG's broader electronic funds transfer (EFT) and digital payments platform.
Associated Press
03-06-2025
- Business
- Associated Press
ACES Quality Management Champions Commitment to Lending Excellence at ACES ENGAGE 2025
- Annual event spotlights industry leadership, launches 'I Stand for Quality' movement and previews next-gen system enhancements - DENVER, Colo., June 3, 2025 (SEND2PRESS NEWSWIRE) — ACES Quality Management ® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced official launch of its 'I Stand for Quality' movement during its annual ACES ENGAGE conference, held May 18–20, 2025 at The Broadmoor Hotel in Colorado Springs. Bringing together mortgage quality control (QC), risk management and compliance professionals from across the country, ACES ENGAGE 2025 showcased the company's ongoing leadership in driving operational excellence and regulatory integrity across the financial services industry. The introduction of the 'I Stand for Quality' movement served as the event's centerpiece, mobilizing attendees around a shared commitment to quality-driven lending and servicing practices. 'This movement isn't just a message. It's a mission,' said ACES CEO Trevor Gauthier. 'By launching 'I Stand for Quality,' we're calling on individuals and institutions to elevate their standards, own their role in delivering excellence and contribute to a culture where quality is embedded in everything we do.' Throughout the three-day event, attendees participated in expert-led sessions on pressing industry topics such as QC modernization, audit best practices, evolving compliance standards and borrower experience optimization. Peer networking opportunities and hands-on product workshops offered real-time insights into maximizing the impact of the ACES Flexible Audit Technology ®. In addition to the campaign launch, ACES provided attendees with a preview of upcoming enhancements to its platform, highlighting transformative technologies designed to improve how organizations interpret and act on quality-related data. Among these was an exclusive first look at an embedded suite of advanced tools that promise to further strengthen the proactive, data-informed approach ACES champions. 'ACES ENGAGE has always been about more than product. It's about partnership,' added Gauthier. 'This year's event proved that our community is ready to lead the charge when it comes to raising the bar for quality. With the launch of this movement, we've taken a bold step forward together.' To learn more about the 'I Stand for Quality' movement, visit or follow the I Stand for Quality page on LinkedIn. About ACES Quality Management: ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including: Unlike other quality control platforms, ACES Flexible Audit Technology® gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit call 1-800-858-1598. NEWS SOURCE: ACES Quality Management ### MEDIA ONLY CONTACT: (not for publication online or in print) Lindsey Neal Depth for ACES Quality Management (404) 549-9282 [email protected] ### Keywords: Mortgage, I Stand for Quality, ACES ENGAGE 2025, ACES Quality Management, DENVER, Colo. This press release was issued on behalf of the news source (ACES Quality Management) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P126680 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.
News18
09-05-2025
- Business
- News18
RBI Issues Consolidated Guidelines On Digital Lending
Last Updated: RBI move is aimed at streamlining and consolidating the regulatory framework for digital lending activities undertaken by Regulated Entities RBI The Reserve Bank of India (RBI) on Thursday issued a comprehensive set of guidelines titled RBI (Digital Lending) Directions, 2025, aimed at streamlining and consolidating the regulatory framework for digital lending activities undertaken by Regulated Entities (REs). Over the years, the central bank has issued multiple circulars and directions related to digital lending. The new directions bring these various instructions under a single framework to ensure greater clarity, uniformity, and regulatory oversight in the rapidly evolving digital lending space. The move is part of the RBI's broader effort to enhance transparency, protect consumer interests, and mitigate risks associated with online credit delivery channels. In a move to streamline and consolidate existing regulatory instructions on digital lending, the Reserve Bank of India (RBI) on Thursday issued the RBI (Digital Lending) Directions, 2025. The guidelines apply to all regulated entities (REs), including banks and non-banking financial companies engaged in digital lending. As part of the new framework, REs will now be required to report details of their Digital Lending Apps (DLAs) through the Centralised Information Management System (CIMS) portal of the RBI. According to the circular, the portal will be operational for reporting from May 13, 2025, and entities will have until June 15, 2025, to upload their initial data. The directions also include measures aimed at increasing transparency in digital lending practices, particularly in how loan products are aggregated and presented to potential borrowers. The comprehensive guidelines are expected to enhance regulatory oversight, reduce consumer risk, and ensure more responsible lending behavior across India's rapidly growing digital credit ecosystem. First Published: May 08, 2025, 22:11 IST
