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PA Attorney General enters into agreement prohibiting collections by buyer of private student loans

CFPB Monitor

The Pennsylvania Attorney General recently entered into an Assurance of Voluntary Compliance with Elevation Capital Partners, LLC, a buyer of private student loans, that prohibits Elevation from engaging in any collection efforts, directly or through servicers, related to loans made to Pennsylvania borrowers who attended schools operated by Education (..)

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Online Gambling Player Rush Street Wins Support of Blank Check Firm To Go Public

PYMNTS

The blank check operation that will take Rush Street Interactive public fits the profile. RSI currently holds online gambling licenses in Illinois and Pennsylvania, states where Bluhm’s company Rush Street Gaming has casinos, as well as New Jersey, Colorado and Indiana. RSI is projecting $321 million in revenue for its fiscal 2021.

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Commercial Credit Trends – Where to Tread Carefully

South State Correspondent

This data is critical for pricing, capital allocation, and marketing. The operative question is when commercial PODs will show a spike. The Midwest continues to perform the best, followed by Pennsylvania. ” The reality is that banks should be much more granular than that to allocate capital more efficiently.

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The Main Street Rescue That Wasn’t (And Still Isn’t)

PYMNTS

What happens if Main Street becomes less a proving ground for smaller businesses — born of, and serving, local communities — and more a collection of larger firms, well-capitalized, but already enjoying competitive advantages? Millions of smaller businesses are grappling with the impacts of the pandemic. The smallest loan, at $1.5

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David’s Bridal Avoids Bankruptcy With Debt Deal

PYMNTS

Sources told Bloomberg that the retailer had discussions with lenders and equity holders from its previous bankruptcy filing, including Oaktree Capital Group, with some investors agreeing to rework about $280 million of debt and to provide $55 million of new money to keep the company in business. Canada, U.K.

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CFPB issues annual FDCPA report; FTC issues annual letter on debt collection to CFPB

CFPB Monitor

The enforcement activities highlighted by the FTC in its annual letter (and described in the CFPB report) include the following: The FTC settled three lawsuits initiated as part of its “Operation Corrupt Collector” nationwide initiative addressing “phantom debt collection” and abusive and threatening debt collection practices.

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Metromile Drives Home $191.5M In Funding

PYMNTS

From self-driving cars already turning over engines in Pennsylvania , to Lyft saying close to no one will own a car by 2025 , to IBM’s driverless shuttle , the question remains who will need car insurance. Canada’s Intact Financial and China Pacific Insurance, New Enterprise Associates, First Round Capital, Mitsui and SV Angel.