Protecting What Matters: The Importance of Cybersecurity for Third-Party Service Providers
Cyber threats have become one of the most significant risks faced by businesses worldwide in today’s fast-paced digital environment. As organizations across industries - particularly in financial services - rely more on technology and third-party providers, they expose themselves to a growing risk of cyber-attacks. For companies providing automation and BPO managed services to banks, mortgage servicers, auto lenders, and credit card providers, ensuring robust cybersecurity is no longer optional, it’s essential.
Bankruptcy Filings Turbo-Charge Again and Rise by 13.88 Percent
Bankruptcy filings were up by 13.88 percent in September compared to the same month last year. After a single-digit increase in August, the bankruptcy engine turbo-charged again, with 42,540 petitions filed. The increase occurred in all major chapters, but the rate of increase in chapter 13 continued to slow and subchapter V also barely rose.
EXECUTIVE BRIEFING:
Reducing Servicing Costs, Improving Data Security, and Mitigating Operational Risk
Leaders from some of the nation’s top financial services organizations gathered at AIS’s Dallas headquarters for an exclusive roundtable discussion. The event brought together servicing operations executives from auto finance companies, mortgage servicers, and commercial banks.
WHITE PAPER:
Navigating New Norms
Outsourcing as a Catalyst for
Mortgage Service Excellence
As the mortgage sector navigates through complex market dynamics, the primary objectives for many organizations remain the same: master cost efficiency, ensure the delivery of high-quality service, and effectively scale operations.
CFPB Funding Scheme Survives Supreme Court Challenge
In a 7-2 decision, the U.S. Supreme Court upheld the mechanism for funding the Consumer Financial Protection Bureau (CFPB). The stakes were high for the CFPB, which had said that an adverse decision would threaten “the validity of virtually all CFPB past actions.”
Bankruptcy Insight Report - June 2024
In June 2024, total bankruptcy filings reached 40,277, marking a 6.6% increase from last June. This modest rise is a slowdown compared to the larger increases we've seen over the past year. However, Chapter 11 cases surged by 83.2%, and SubChapter V cases rose by 79.8%, reflecting ongoing economic trends and the impact of recent changes in debt eligibility limits for SubChapter V.
Bankruptcy Insight Report - May 2024
Bankruptcy filings continued the upward spiral begun last year with 16.28 percent more filings in May compared to the same month in 2023. With 44,981 bankruptcy petitions filed, the May increase follows a similar trend from last year when filings rose by approximately 17 percent. For the first half of 2024, total bankruptcy filings are up by 17.29 percent.
Bankruptcy Insight Report - April 2024
In April 2024, total bankruptcy filings reached 45,608, marking a surge of 28.5 percent compared to April 2023. The significant uptick persisted even after adjusting for two extra weekdays this year, with filings increasing by over 20 percent. This growth exceeds last year's increase of 17.6 percent, indicating a consistent upward trend in 2024.