Trending Articles

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N.J. Appeals Court Affirms Ruling for Defendant in FDCPA Case

Account Recovery

A New Jersey Appeals Court has affirmed the dismissal of a Fair Debt Collection Practices Act case that was dismissed by an arbitrator, with the plaintiff arguing the arbitrator refused to consider evidence and that the underlying agreement was unenforceable.

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Debt ridden TV Celebrity has horse seized by Bailiffs

UK debt collections

Debt ridden TV celebrity Katie Price has been hit by another devastating blow amid her battle with bankruptcy, as her beloved horse has reportedly been taken away by bailiffs. The reality star already owes thousands of pounds in unpaid tax , and neighbours are now claiming her beloved steed Wallis has been taken away until she repays her debts. Katie purchased her horse for £250,000 back in 2009, and regularly shares snaps of him on social media.

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CFPB Report Finds Large Banks Charge Higher Credit Card Interest Rates than Small Banks and Credit Unions

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today reported on the first set of results from the newly updated Terms of Credit Card Plans survey.

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FTC Issues Supplemental Rulemaking to Combat Impersonation Fraud

Troutman Sanders

Yesterday, the Federal Trade Commission (FTC) issued a Supplemental Notice of Proposed Rulemaking , seeking public comment on its proposal to amend the Rule on Impersonation of Government and Businesses (Impersonation Rule or Rule), that is being finalized by the FTC today, to add a prohibition on the impersonation of individuals. The amendment would also extend liability for violations of the Impersonation Rule to parties who provide goods and services with knowledge or reason to know that thos

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Guide to Business Writing

Everything you need to know about better business writing in one place. This is a complete guide to business writing — from a clear business writing definition to tips on how to hone your business writing skills.

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London Mansions being seized as part of Debt Collection efforts

UK debt collections

London mansions are being seized as part of measures to recover debts in London from bankrupt businessmen. A Kensington mansion has become the capital’s latest luxury property to go up for sale in insolvency proceedings as wealthy London homeowners face their assets being liquidated to pay down debts. The property on Queen’s Gate, near Hyde Park, is being sold by receivers for around $34m (£27m) alongside another house worth some $520,000 (£412,000) as part of bankruptcy proceedings, according t

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CFPB Report Highlights Differences in Credit Card Interest Rates as One Titan Buys Another

Account Recovery

Three days after the Consumer Financial Protection Bureau released a report indicating that large banks are offering higher credit card interest rates to consumers than smaller banks and credit unions, one of the nation’s largest credit card issues — Capital One — announced it was buying another of the nation’s largest issuers — Discover Financial […]

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TCPA and FTSA Consent Checklist

Jimerson Firm

In Florida, the Telephone Consumer Protection Act (“TCPA”) and the Florida Telephone Solicitation Act (“FTSA”) limit the use of automated systems for placing automated calls and sending automated text messages. Both the FTSA and the TCPA permit the use of automated dialing systems if the caller obtains the called party’s “prior express written consent.

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Do you feel bad about filing for bankruptcy?

Roths Child Law

A lot of people delay filing for bankruptcy for a considerable time. While it is essential that you take your time to consider if it is right for you and to look for alternative solutions, delaying the inevitable can prolong your agony. Having debt you cannot afford to pay back can play havoc with your mental health, and filing for bankruptcy can help a lot.

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Retail Insolvencies continue to rise in the UK

UK debt collections

Retail Insolvencies are expected to continue to rise according to latest industry expert findings. Less than two months into 2024 and six UK retailers have already gone bust, with a further two warning they may fall into trouble, as experts warn the market will “continue to see an uptick in retail insolvencies”. According to figures from Centre of Retail Research , over 400 job roles have been impacted by retailers shutting up shop in light of the cost of living crisis and financial strain place

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

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Financial Empowerment for the Underserved: An Interview with Adrian Gomez of United Way of Pueblo County, Bank On Pueblo County 

Prosperity Now

Bank On Pueblo County, a component of United Way of Pueblo County located in Pueblo, Colorado, is a coalition working to increase financial wellness efforts in the community. We interviewed Program Coordinator, Adrian Gomez, to learn more about the organization (a Prosperity Now Community Champion!), their Bank On Program, advocacy efforts and goals for 2024.

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Daily Digest – February 20. Suit Accuses Collector of Attempting to Collect From Represented Consumer Who Previously Sued Over Same Debts; Airline Liable for Discounts Mentioned by AI Chatbot

Account Recovery

Suit Accuses Collector of Attempting to Collect From Represented Consumer Who Previously Sued Over Same Debts Judge Denies Competing Summary Judgment Motions in FDCPA Case CFPB Report Highlights Differences in Credit Card Interest Rates as One Titan Buys Another Airline Liable for Discounts Mentioned by AI Chatbot WORTH NOTING: Six movies to put on your […]

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On February 16, the Consumer Financial Protection Bureau (CFPB) issued a procedural rule updating how financial institutions can appeal supervisory findings, including those relating to compliance with the Fair Credit Reporting Act.

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Credit Risk Management Definition, Mitigation, and Solutions

Qualco

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

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Could the Recession be good for Debt Collection?

UK debt collections

Some people believe a recession is lucrative for the debt collection industry. With a recession comes more late payment of invoices and overdue accounts. On the face of it, people make the assumption that it is boom time for the debt collection sector. Contrary to popular belief, a recession does not bring any benefits to the debt collection sector at all usually.

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Tracing the Evolution of Racial Wealth Inequality and Economic Mobility in America

Prosperity Now

Historical injustices and systemic barriers have continued to hinder the economic progress of Black Americans, reflected in the enduring racial wealth gap and limited intergenerational mobility. For the Black History Month, Prosperity Now has reviewed recent economic studies that take a historical perspective on racial wealth inequality and economic mobility in the United States.

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Compliance Digest – February 19

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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CFPB Advisories on Background Checks and File Disclosures

Troutman Sanders

In this episode of FCRA Focus , hosts Kim Phan and Dave Gettings are joined by Partners Cindy Hanson and Ron Raether to discuss recent CFPB advisory opinions on accuracy in background check reports and the inclusion of data sources in response to consumer file disclosure requests. They delve into the challenges companies face in obtaining accurate information from public record sources and the implications of the CFPB’s guidance for the industry.

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10 Ways to Improve Payment Collections with Salesforce

For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.

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Middle District of Florida Analyzes Standing for Professional Plaintiffs

TCPA

The U.S. District Court for the Middle District of Florida recently denied a defendant’s motion to dismiss on standing grounds even though plaintiff remained on the line to discover the identity of the caller solely for the purpose of filing a TCPA lawsuit.

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2024 Review: Chase Sapphire Reserve®

Credit Corp

Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers. Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Snapshot: The Chase Sapphire Reserve® is best for consumers who travel frequently and want to earn bonus points on flights, hotels and car rentals.

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Daily Digest – February 19. Appeals Court Affirms Dismissal of Hunstein Copycat, but Dissent Argues Plaintiff Has Standing; CFPB Issues Rule to Update Supervisory Appeals Process

Account Recovery

Appeals Court Affirms Dismissal of Hunstein Copycat, but Dissent Argues Plaintiff Has Standing CFPB Issues Rule to Update Supervisory Appeals Process FTC Takes Steps to Protect Consumers from AI Deepfakes Compliance Digest – February 19 WORTH NOTING: Strong winds gave some planes a big boost over the weekend … How well do you know the […]

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Beware of the Pitfalls When Using Boilerplate Real Estate Contracts

Jimerson Firm

In the complex realm of residential and commercial real estate transactions, the importance of a well-crafted customized contract cannot be overstated. However, the convenience and seemingly time-saving allure of boilerplate real estate contracts have led many real estate agents and buyers and sellers to neglect the inherent pitfalls associated with their use.

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Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

Speaker: Lynnette Khalfani-Cox, The Money Coach®

Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?

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CFPB Issues Revised Supervisory Appeals Process

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) issued a procedural rule updating the process by which financial institutions can appeal supervisory findings.

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Claims Management company closes suddenly due to large debts

UK debt collections

A north west Claims Management company running financial mis-selling claims has closed, announcing on its website that cases have been transferred. The Law Gazette reported that Legal UK Services Ltd , based in Altrincham, told clients last week that it had appointed insolvency practitioners and would cease trading within weeks. That process appears to have been accelerated this week as the firm stated that all live cases had been transferred to neighbouring Cheval Legal.

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Idaho Bankruptcy Court Holds that Later-Recovered Assets Revert to Borrower Absent Plan Provision to the Contrary

Troutman Sanders

What happens to funds recovered by the trustee after the final plan payment is made in a chapter 13 case? According to the U.S. Bankruptcy Court for the District of Iowa, absent a plan provision providing otherwise, those funds revert to the debtors. In In re McCrorey , the debtors confirmed a chapter 13 plan, which required them to make payments for 60 months and provided no payments to unsecured creditors.

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26 Companies Seeking Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

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Successful Change Management with Enterprise Risk Management

Speaker: William Hord, Vice President of ERM Services

A well-defined change management process is critical to minimizing the impact that change has on your organization. Leveraging the data that your ERM program already contains is an effective way to help create and manage the overall change management process within your organization. Your ERM program generally assesses and maintains detailed information related to strategy, operations, and the remediation plans needed to mitigate the impact on the organization.