Account Recovery
MAY 14, 2024
Connecticut Gov. Ned Lamont last week signed a bill into law that will prohibit healthcare providers from reporting medical debt to credit agencies and void debt that is reported to credit bureaus. The bill is scheduled to go into effect on July 1.
American Profit Recovery
MAY 13, 2024
There are numerous legitimate reasons why a consumer might struggle to pay your business on time, or at all and many of them stem from financial difficulties. As business owners, executives and others keeping an eye on the bottom line, you may get angry because some customers have not paid your business and you’re left wondering why. However, as we indicate here, many circumstances limit a consumer’s ability to pay your business, and they should be considered.
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Consumer Finance
MAY 8, 2024
The CFPB issued a new report finding consumers encounter numerous problems with credit card rewards programs.
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.
UK debt collections
MAY 13, 2024
The government has ordered an investigation into Warrington Borough Council as figures reveal it is almost £1.85 billion debt. It follows a report which found the council is the most indebted unitary authority in the country, with “their portfolio of debt-funded investments… concerning” which put not only the council at risk, but could also have “significant impact” for local residents.
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 15, 2024
If you are a consumer, struggling with debt, you should know that not only can debt collectors help you navigate a challenging financial situation, but you can also have a positive experience and favorable outcome. Gone are the days when collectors just got on the phone and demanded full payment. That’s not the way debt collections work. A professionally trained collector listens to consumers, seeks to understand unique situations, and creates an environment where two people can reach a so
Consumer Finance
MAY 13, 2024
The CFPB distributed more than $384 million to consumers harmed by Think Finance from the victims relief fund, which has disbursed more than $1 billion.
Taurus Collect
MAY 12, 2024
In the realm of debt recovery, the “ no collection no fee ” debt collection strategy stands out as a beacon for ethical practice. This approach ensures fairness and integrity, positioning itself as a vital component within the industry. Employing a strategy where fees are contingent not only aligns the interests of collectors with those of their clients but also fosters a culture of responsibility and respect.
UK debt collections
MAY 13, 2024
A solicitor has been fined more than £1,000 due to invoice late payment. It was found that the solicitor failed to pay an invoice for legal fees within a reasonable time frame. James Lothian Brunton also failed to cooperate with the Solicitors Regulation Authority’s (SRA) investigation into his failure to perform an undertaking to Matthew Waite & Co.
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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.
Account Recovery
MAY 14, 2024
Collection Law Firm Facing FDCPA Class Action For Not Honoring Arbitration Request Collector Unable to Get All Claims Dismissed in Undated MVN Class Action Appeals Court Overturns $35M TCPA Settlement in Text Message Case Connecticut Governor Signs Medical Debt Credit Reporting Bill Into Law WORTH NOTING: ChatGPT is now going to be able to start […]
Roths Child Law
MAY 13, 2024
When homeowners face the daunting prospect of foreclosure, understanding the defensive options available can potentially help them preserve their homes and financial stability. For example, two common types of bankruptcy , Chapter 7 and Chapter 13, offer different benefits and drawbacks in the context of foreclosure. Although there are exceptions to this general rule, Chapter 7 might not be the best option for those concerned with foreclosure, although Chapter 13 could potentially provide a more
NCBA Law Practice Management Blog
MAY 12, 2024
Nothing bottlenecks law firm case process (and progress) as much as waiting for your clients to do things. Law firms can largely control internal policies & tasks; and, courts utilize definable deadlines. But, when law firms request that clients do things. good luck ! They’ll straight up ignore you. They’ll obfuscate. They’ll waste your time, by getting back to you another issue, entirely.
Taurus Collect
MAY 12, 2024
In the rapidly evolving landscape of the debt collection industry, staying ahead of emerging trends is crucial for success. 2024 promises to bring significant changes, with the “ no collection no fee ” debt collection model standing out as a key player. This approach is reshaping strategies across the board. It offers a risk-free solution to creditors, ensuring that agencies are rewarded only upon the successful retrieval of outstanding debts.
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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 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 14, 2024
A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class action involving an undated Model Validation Notice on most of the claims, but denied the motion regarding a claim that the MVN violated Section 1692g(a) of the statute because a least sophisticated debtor would […]
Consumer Finance
MAY 12, 2024
The Federal Reserve Board and the Consumer Financial Protection Bureau announce inflation-adjusted dollar thresholds for Regulation CC funds availability
Payment Savvy
MAY 10, 2024
Plaid has rapidly become a common platform for seamlessly sharing your financial data with trusted apps and services. Whether you’re using a budgeting app, investing platform, or peer-to-peer payment solution, chances are you’ve encountered Plaid. This powerful technology bridges the gap between your bank accounts and various digital financial tools.
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?
FFGN COLLECT NY
MAY 8, 2024
In April, following an investigation by Attorney General Leticia James’ office, Pathward (formerly known as MetaBank) was required to refund money to account holders after unlawfully sending frozen deposits to creditors. In addition to refunding the monies, the bank also had to pay penalties for the unlawful freezing of the bank accounts. Between 2016 and 2022, Pathward wrongfully froze 1,400 bank accounts belonging to New Yorkers.
UK debt collections
MAY 15, 2024
New research by Mojo Mortgages has found that 32,000 mortgaged properties at risk of being repossessed. The research also found that there were 96,580 homeowner mortgages in arrears of 2.5% or more of the outstanding balance, representing a 3% increase from the previous quarter. Within this group, 32,470 mortgages were in the most severe bracket, with mortgage arrears exceeding 10% of the balance, marking a 6% increase compared to the previous quarter.
Account Recovery
MAY 13, 2024
The prevalence of medical debt among cancer patients and survivors remains a significant issue even for those with insurance, according to a recent survey by the American Cancer Society Cancer Action Network (ACS CAN) reveals.
Consumer Finance
MAY 8, 2024
CFPB Director Rohit Chopra provided opening remarks at the Joint Hearing on Airline and Credit Card Rewards Programs.
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.
Payment Savvy
MAY 10, 2024
Cart abandonment is a major issue faced by ecommerce businesses. With almost 7 out of 10 shoppers abandoning their carts, online businesses face an uphill task to increase sales and profits. While it’s nearly impossible to eliminate cart abandonment, there are steps to reduce it. This guide contains those steps – and much more! Below are 7 best practices on how to reduce cart abandonment, thus increasing sales and profit for your ecommerce business.
BN Lawyers
MAY 11, 2024
Barron & Newburger’s Arthur Sanders was elected by acclamation to represent the Attorney Division of ACA International on the 2024-2025 Council of Delegates. Mr. Sanders will represent Attorney Division members at the Annual Meeting of the Council of Delegates, to be held July 21, 2024, where delegates will elect the incoming directors to the ACA International Board of Directors and conduct other business.
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.
Account Recovery
MAY 13, 2024
Appeals Court Affirms Ruling in TCPA Class Action Over Definition of ATDS Majority of Cancer Patients Carrying Medical Debt, Even with Health Insurance Artificially Inflated Credit Scores Leave Borrowers Unable to Pay Debts: Report Compliance Digest – May 13 WORTH NOTING: The origin story of Steve from “Blue’s Clues” is even more wholesome than you […]
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?
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