Account Recovery
MAY 6, 2024
A bill has been introduced in the House of Representatives to amend the Fair Debt Collection Practices Act in order to include additional information when sending the validation notice while also expanding the requirements before filing collection lawsuits. What It Is: H.R.
Enterprise Recovery
MAY 6, 2024
The tech industry is known for its rapid growth and innovation but faces unique challenges regarding debt collection and non-paying clients. Understanding the intricacies of debt collection in this sector is essential for companies to recover payments and maintain financial stability. Learn more about the complexities of debt collection within the tech industry and the strategies for successful payment recovery.
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Consumer Finance
MAY 6, 2024
Today, the Consumer Financial Protection Bureau (CFPB) took action against Chime Financial for failing to give consumers timely refunds when their accounts were closed.
Jimerson Firm
MAY 8, 2024
The ultimate test of a binding settlement agreement is whether the parties to the agreement have a “meeting of the minds,” which is a mutual understanding of the essential terms of the agreement. At least one court in Florida has now ruled emails between attorneys can constitute an enforceable settlement agreement if the parties’ counsel had clear and unequivocal authority from the client to settle the case and correspondence between the parties’ attorneys showed that no essential terms of
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.
Account Recovery
MAY 8, 2024
The turnaround under new leadership at PRA Group is continuing — the company reported net income of $3.4 million for the first quarter of 2024, compared with a net loss of $59 million during the same period a year ago.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
MAY 5, 2024
The Consumer Financial Protection Bureau (CFPB) today took action against National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency for multi-year servicing failures.
Consumer Finance Watch
MAY 8, 2024
Financial institutions, credit furnishers, debt collectors, and other businesses reporting consumer information to credit reporting agencies should take note that the Eleventh Circuit Court of Appeals has declined to impose a bright-line rule that only purely factual or transcription errors are actionable under the Fair Credit Reporting Act (“FCRA”).
Account Recovery
MAY 8, 2024
The Consumer Financial Protection Bureau (CFPB) yesterday announced an enforcement action against Chime Financial, a San Francisco-based fintech company, for not providing timely refunds to customers after closing their accounts. This delay affected thousands of consumers, compelling many to turn to costly credit solutions to meet essential expenses.
Prosperity Now
MAY 5, 2024
As we look back on April’s Second Chance Month, it is important to remember that every year, more than 600,000 people are released from prison and given a chance to build a new life. Discriminatory hiring practices and other barriers often present obstacles to securing stable employment.
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On Guard
MAY 7, 2024
Did you know that in 2023 we, at Onguard, sent 6.241 empty cans for recycling? Sustainability is not a sprint, it’s a marathon, and a difference comes with a few small steps every day. This is why we are excited to join Visma’s Sustainability Month this May, as an opportunity to reflect and record our specific actions for a more sustainable future. Running through the whole of May, the idea of Visma Sustainability Month is not only to review our corporate actions but also to spark discussion and
Direct Recovery
MAY 4, 2024
The best way to maximize your collection efforts is to minimize the number of collections you have in the first place, and reducing the number of accounts in collections starts with formatting your invoices. Invoices are the primary means of asking your customers to pay you for services rendered, but their effectiveness can vary dramatically depending on whether or not they include the following five essential elements.
Account Recovery
MAY 7, 2024
A District Court judge in California has denied a defendant’s motion to dismiss a Fair Debt Collection Practices Act suit, ruling the arguments raised by the defendant were not applicable at this stage of the proceedings. The Background: The defendant attempted to evict the plaintiff because the plaintiff allegedly failed to pay his rent.
NCBA Law Practice Management Blog
MAY 5, 2024
Lots of small and solo law firms have staggering amounts of accounts receivable; and, even if those numbers are not sky high , for you – smaller amounts are still vexing. Accounts receivable end up counting against your profitability, because these reduce the amount of gross revenue you collect = the top line for your profit margin. So, the more you collect : the more you make.
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Consumer Finance
MAY 5, 2024
CFPB Director Rohit Chopra issued a statement on the proposed rules regarding Wall Street compensation and bonuses.
Direct Recovery
MAY 4, 2024
Legend has it that Morgan Housel wrote a large chunk of the first draft of The Psychology of Money in the same format as every other financial advice book, but then he took a hard left turn and chucked that draft into the trash. Housel had spent a large portion of his life breaking down complex financial topics into short blog posts, so why should writing a book be any different?
Account Recovery
MAY 7, 2024
Plaintiff Files 10 Lawsuits Against Collectors Accusing them of Violating FCRA CFPB Assesses $5M in Fines and Penalties Over Student Loan Servicing Issues Judge Denies MTD in FDCPA Case Over Unpaid Rent Second Annual Debt Gala Raises Funds for Debt Charities WORTH NOTING: The best looks and outfits from last night’s Met Gala … More […]
NACM
MAY 8, 2024
Credit professionals must consistently learn to advance their careers, whether through on-the-job training and experience or formal education, supported by their company's assistance. By earning designations through NACM's Professional Certification Program, credit professionals can learn and enhance their skillset in various aspects of B2B credit.
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?
Account Recovery
MAY 6, 2024
Bill Introduced in House to Amend FDCPA Judge Grants MTD in FCRA, FDCPA Case ARM Company Discloses Breach After Unauthorized Access to Email Account Compliance Digest – May 6 WORTH NOTING: If you are using Windows, here is the best new browser you may want to consider using … One last gift guide to help […]
Account Recovery
MAY 8, 2024
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.
Account Recovery
MAY 8, 2024
A District Court judge in Pennsylvania has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case — albeit on the grounds the plaintiff lacked standing — after the defendant was accused of failing to fully inform the plaintiff about what would happen if a partial payment was made on […]
Account Recovery
MAY 7, 2024
The Consumer Financial Protection Bureau yesterday announced an enforcement action against the National Collegiate Student Loan Trusts (NCSLT) and Pennsylvania Higher Education Assistance Agency (PHEAA) over a series of servicing failures, including mishandling borrower requests during the COVID-19 pandemic. The two entities will pay more than $5 million in fines and restitution to consumers.
Speaker: William Hord, Senior VP of Risk & Professional Services
Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?
Account Recovery
MAY 7, 2024
On Sunday night in Brooklyn, the second annual Debt Gala was held. The event, timed to coincide with the annual Met Gala, is aimed at raising money to increase awareness of consumer debt and healthcare inequality. It is a costume party, similar to the Met Gala, but all the costumes are meant to be handmade.
Account Recovery
MAY 7, 2024
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?
Account Recovery
MAY 6, 2024
A Magistrate Court judge in Texas has granted a defendant’s motion to dismiss after it was sued for violating the Fair Credit Reporting Act and the Fair Debt Collection Practices Act among other statutes, ruling that the plaintiff — who represented himself and did not respond to the defendant’s motion to dismiss — did not […]
Account Recovery
MAY 6, 2024
A collection operation in New Hampshire has disclosed it was the victim of a data breach impacting more than 11,000 consumers, according to a filing with the Maine Attorney General. The disclosure is the third data breach in the accounts receivable management industry that has been disclosed in the past week.
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