Account Recovery
MAY 22, 2024
In a case defended by Avanti Bakane at Gordon Rees, a District Court judge in California has granted a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices Act case over whether the plaintiff informed the defendant that its calls were being made at an inconvenient time.
American Profit Recovery
MAY 20, 2024
Every size business, whether a small business or a larger organization will have to manage late and non-paying customers. It’s just a reality of being in business and part of the accounts receivable process. Not every customer is going to pay their bills on time. That would be nice, but it just doesn’t happen for a wide range of reasons.
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Account Recovery
MAY 16, 2024
The Supreme Court ruled today that the funding structure of the Consumer Financial Protection Bureau is constitutional and does not need to change. Had the ruling gone the other way, there was the possibility that the CFPB could have been de-funded.
Enterprise Recovery
MAY 17, 2024
Outsourcing accounts receivable and collections is a strategic decision that can benefit businesses. By partnering with a collection agency, businesses can offload the time-consuming task of chasing unpaid invoices, allowing them to focus on their core operations. Discover the financial benefits of outsourcing your accounts receivable and how it can positively impact your business's bottom line.
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Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
Consumer Finance
MAY 21, 2024
The Consumer Financial Protection Bureau (CFPB) today issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
American Profit Recovery
MAY 23, 2024
There are countless myths about debt collectors and the debt collection industry as a whole. Debt collections in many circumstances can be a complex situation for both the business trying to recover money and the consumer trying to navigate financial difficulty. If we go back to the nightly news programs of past, many of us remember the segments that only focused on some negative behavior of a chosen few working in the industry.
Price Meese
MAY 22, 2024
Price Meese Shulman & D’Arminio, P.C. is proud to announce that founding partner, Greg Meese, has been elected President of the New Jersey Wireless Association (NJWA). NJWA is a non-profit professional organization dedicated to making the public and elected officials aware of the positive social and economic benefits of the wireless communications industry.
Consumer Finance
MAY 19, 2024
The CFPB took action against Western Benefits Group for charging illegal advance fees for student loan debt relief services and misrepresenting to consumers that advance fees would go toward paying down their loans.
Burr Forman
MAY 22, 2024
In Smith v. Spizzirri , 2024 WL 2193872 (U.S. May 16, 2024), the United States Supreme Court issued a ruling holding that courts must stay, rather than dismiss, cases that are subject to arbitration. The unanimous decision resolves a circuit split on the issue and has far-reaching implications on the continued role of courts in cases subject to arbitration.
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 22, 2024
Judge Grants MJOP For Defendant in FDCPA Case Over Whether Calls Were Convenient Maryland Regulator Settles With Debt Collectors Side Hustles Helping Consumers Make Ends Meet 29 Companies Seeking Collection Talent WORTH NOTING: Five features on Spotify that you should be using more … The Federal Reserve Board has released the results of a survey […]
Roths Child Law
MAY 21, 2024
Bankruptcy and medical debt go hand-in-hand. One of the top reasons that people file for bankruptcy is because their medical bills have become overwhelming. They’re unable to pay what they owe, so they’re looking for a fresh start. One reason why this happens is because people will get out-of-network services. They may not know that this is what they’re doing at the time, but a later analysis of the medical services rendered will show that they were out of the network approved by the health insu
Price Meese
MAY 21, 2024
Price Meese partner, Thomas C. Martin, Esq., a member of the Executive Committee of the Transportation Lawyers Association, recently attended its Annual Conference which addressed a multitude of transportation-related topics such as freight cargo damage, casualty claims, insurance, technology and the growing impact of AI in the transportation field.
Consumer Finance
MAY 16, 2024
The CFPB sued SoLo Funds, which runs a peer-to-peer lending platform, for lying to borrowers and deceiving them about the total cost of loans.
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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.
Burt and Associates
MAY 20, 2024
Table of Contents: Introduction Streamlining Your Collection Process Utilizing Automation Tools Offering Convenient Payment Options Communicating Clearly and Promptly Providing Incentives for Early Payment Focusing on Customer Retention Training Your Collection Team Monitoring and Tracking Progress Seeking Feedback and Adapting Staying Compliant with Regulations Conclusion Introduction: In today’s fast-paced business environment, effective debt collection is crucial for maintaining healthy
Account Recovery
MAY 21, 2024
Collector Accused of Mistaking Plaintiff’s Sister for His Wife Judge Grants MTD in FCRA, FDCPA Case Over Post-Divorce Liability Student Loan Debt Relief Company to Close, Pay $400k in CFPB Enforcement Action Illinois Legislature Passes Medical Debt Credit Reporting Bill WORTH NOTING: As summer approaches, here is a list of the best coolers to keep […]
Qualco
MAY 20, 2024
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.
Jimerson Firm
MAY 23, 2024
by A. Hunter Faulkner and Maxwell A. Salain With a major hurricane making landfall somewhere in Florida on nearly an annual basis over the past several years, Florida’s property insurance market is in turmoil. Many carriers have left the state and those carriers still willing to write policies in the state have drastically increased the cost of their annual premiums.
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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.
Consumer Finance
MAY 21, 2024
CFPB Director Rohit Chopra delivered prepared remarks on an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.
Roths Child Law
MAY 17, 2024
A decision to file for bankruptcy is one that’s usually not made without considerable thought. It’s often the result of a realization that there won’t ever be enough money to cover one’s debts unless something dramatic can be done. Many consumers file for Chapter 7, which is known as the liquidation bankruptcy, or Chapter 13, which is known as the wage-earner’s bankruptcy.
Account Recovery
MAY 21, 2024
The Consumer Financial Protection Bureau yesterday announced an enforcement action against Western Benefits Group, a nonbank telemarketer based in Pleasanton, Calif., for charging illegal advance fees for student loan debt relief services and misrepresenting their affiliations and services.
JMA
MAY 16, 2024
When it comes to debt collection, many small to medium-sized business owners worry about the potential negative impact on customer relationships. The perception of aggressive tactics and relentless pursuit can create a cloud of apprehension. However, understanding the realities and best practices of reputable debt collection agencies can not only alleviate these concerns but also.
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?
Jimerson Firm
MAY 16, 2024
Representations and warranties are more than just legal formalities in business mergers and acquisitions (M&A) and deserve careful attention when drafting and negotiating these terms. Representations and warranties are essentially statements made by each party (most importantly, Sellers) about the general state of affairs, including statements about the party’s financial health, assets, and legal compliance.
Collection Industry News
MAY 22, 2024
Last week, the average interest rate on 10-year fixed-rate private student loans increased. Overall, rates remain fairly low, making private student loan a worthwhile option for borrowers looking to make up a gap in college funding. From May 13 to May 18, the average fixed interest rate on a 10-year private student loan was 8.57% for borrowers with a credit score of 720 or higher who prequalified on Credible.com’s student loan marketplace.
Burr Forman
MAY 21, 2024
Last Thursday, the Supreme Court upheld the Congressional funding mechanism used to fund the Consumer Financial Protection Bureau (CFPB), overruling a Fifth Circuit decision that found the funding mechanism violated the Constitution’s Appropriations Clause. Cons. Fin. Prot. Bureau et al. v. Cmty. Fin. Servs. Ass. of Am., Ltd., 601 U. S. _ (2024).
Account Recovery
MAY 20, 2024
Judge Grants MSJ For Defendant in FDCPA Case Over Alleged Inconvenient Calls More Regulation, More Enforcement at CFPB Following Supreme Court Ruling CFPB Sues Online Lender for Deceptive Dark Patterns Compliance Digest – May 20 WORTH NOTING: A security lapse that could let millions of people do laundry for free … Why we can’t get […]
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.
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