Account Recovery

NOVEMBER 11, 2020

President-elect Joe Biden has chosen a name that will be familiar to many in the accounts receivable management industry to head the transition team overseeing the Consumer Financial Protection Bureau. Leandra English, the former deputy director of the CFPB has been tapped to lead a team of fellow volunteers whose responsibilities include “understanding the operations … The post Biden Names Former CFPB Deputy Director To Head Agency’s Transition Team appeared first on AccountsR

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Accounts Receivables Management 246

Consumer Finance

NOVEMBER 11, 2020

On November 12, 2020, the Consumer Financial Protection Bureau announced a settlement with Afni, Inc. to address its violations in providing information to consumer reporting agencies (CRAs).

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Account Recovery

NOVEMBER 11, 2020

Performant Financial Corp. yesterday reported net income in the third quarter of $2 million, compared with a loss of $8.1 million during the same period a year ago. Revenue during the third quarter was $36.2 million, up from $35.9 million during the third quarter of 2019. During a conference call yesterday discussing the financial results, … The post Profits Up at Performant in 3Q, But COVID-Related Collection Challenges Remain appeared first on AccountsRecovery.net.

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Collections 246

Jimerson Firm

NOVEMBER 11, 2020

Conducting site visits are an important aspect of servicing SBA loans. Site visits allow lenders and CDCs to gain a first-hand impression of the borrower’s business operations, evaluate risks, and inventory the collateral. Frequent site visits help lenders and CDCs make prudent lending decisions by keeping them up-to-date with the condition of the collateral and the borrower’s business operations.

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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

NOVEMBER 11, 2020

BIDEN NAMES FORMER CFPB DEPUTY DIRECTOR TO LEAD AGENCY’S TRANSITION TEAM President-elect Joe Biden has chosen a name that will be familiar to many in the accounts receivable management industry to head the transition team overseeing the Consumer Financial Protection Bureau. Leandra English, the former deputy director of the CFPB has been tapped to lead … The post Daily Digest – November 11.

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Collection Agencies Collections Agency Accounts Receivables Management Collections 211

Account Recovery

NOVEMBER 11, 2020

The Temporary Commissioner of the Minnesota Department of Commerce has fined a collection agency $5,000 for operating without a license, according to the terms of a consent order that was entered into late last month. The company, Asset Resources, Inc., waived its right to a formal hearing. Grace Arnold, the Temporary Commissioner, stayed $4,000 of … The post Collection Agency Fined by Minnesota Regulator for Unlicensed Activity appeared first on AccountsRecovery.net.

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Collection Agencies Collections Agency Collections 147

Nerd Wallet

NOVEMBER 11, 2020

Thinking about booking a flight with Allegiant Air but confused by the add-on fees? You’re not alone: Ultra-low-cost carriers like Allegiant are built around the “a la carte” model, where the base airfare doesn’t include basics like bags, seat assignments or a pack of crackers. Allegiant also carries loads of “gotcha” fees for unaware passengers. Sam Kemmis is a writer at NerdWallet.

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Account Recovery

NOVEMBER 11, 2020

There are so many ways for collectors to try and get in touch with consumers today, and that creates a lot of opportunity, but also a lot of anxiety. Those anxieties need to be managed and overcome, however, because, even though collectors have more ways to get in touch with consumers, actually getting a consumer … The post VIDEO: How Alternative Communication Channels Can Improve RPC Rates appeared first on AccountsRecovery.net.

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Nerd Wallet

NOVEMBER 11, 2020

If you fly United Airlines regularly, you may want to take a look at the United Club? Infinite Card. It comes with a $0 intro for the first year, then $525 annual fee, and a list of perks geared toward United flyers designed to make the fee worthwhile. Here’s a look at the benefits the. Anya Kartashova is a writer at NerdWallet. Email: travel@nerdwallet.com.

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Collections

Troutman Sanders

NOVEMBER 11, 2020

Recently, the Consumer Financial Protection Bureau filed an Amicus Curiae brief in the United States Court of Appeals for the Third Circuit addressing whether a debt collector violates the Fair Debt Collection Practices Act by accurately stating that it is seeking to collect $0.00 in interest and collection fees, including when interest and collection fees are not accruing.

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Debt collector Accrued Interest Fair Debt Collection Trade 59

CSA

NOVEMBER 11, 2020

Chris Leslie is Chief Executive of the Credit Services Association. Debt is one of those topics that can often feel ?off limits?, and it can be hard for many people to talk about. Yet these days there are plenty of ways to seek assistance , and anyone feeling that they are stressed or worried about money should take the opportunities to get the help available.

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Fico Collections

NOVEMBER 11, 2020

FICO has announced its panel of independent judges for the 2021 FICO® Decisions Awards which honor clients achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs. The bench of eight global industry experts bring a variety of views and knowledge to the table along with deep industry expertise.

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Troutman Sanders

NOVEMBER 11, 2020

On October 29, 2020, the FTC hosted its most recent “Green Lights & Red Flags” workshop. This virtual workshop focused on recent fraud patterns, advertising compliance, and data security. Fraud Fashioned Under COVID-19. The pandemic’s effect on the consumer protection world was front and center at this year’s workshop. According to Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, as of October 27, the FTC has received over 236,000 COVID-19 related reports from consumers and

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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?

Banks

Burr Forman

NOVEMBER 11, 2020

On October 30, 2020, the U.S. Department of Labor (the “DOL”) released a Final Rule to “provide clear regulatory guideposts for fiduciaries of private-sector retirement and other employee benefit plans in light of recent trends involving environmental, social and governance (ESG) investing.” The Final Rule amended the regulations (29 C.F.R. §2550.404a-1; hereinafter referred to as the “Regulations”) enunciating fiduciary investment duties under the Employee Retirement Income Security Act of 197

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FFGN COLLECT NY

NOVEMBER 11, 2020

Facing an inquest as part of your debt collection case? Knowing how to prepare for an inquest is crucial if you want to recover the most money in your debt collection case. There are two main components you’ll need to prove in your debt collection case: liability and damages. You must prove both of these in order for the court to award a judgment in your favor.

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Katabat

NOVEMBER 11, 2020

There are countless reasons to go digital in collections in 2020. Many of those reasons have to do with the end user: the borrower. A growing proportion of consumers and borrowers are tech savvy Millennials who expect SMS reminders and sleek web portals. They don’t like to be contacted on the phone and have a reasonable expectation that new numbers calling them are scammers.

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Payment Savvy

NOVEMBER 11, 2020

More and more people are shopping online these days. It is faster, more convenient, and often also more affordable. This is due to the possibility of comparing lots more offers than in brick-and-mortar shops. If you plan to set up a business on the internet, you will need an online payment system. This will make it possible for your customers to use their debit and credit cards safely.

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Banks Retail Education Collections 52

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Collections

Fico Collections

NOVEMBER 11, 2020

You may be asking yourself, “What is the value of automating collection communications? Will this truly move the needle?” The answer is definitely “Yes.”. More than 25 years ago, I was the lead on a project to implement a new collections system for a client. As part of that implementation we also implemented a fully automated self-service mechanism to take payment agreements.

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Collections 52