Account Recovery

JANUARY 20, 2021

The California Department of Financial Protection and Innovation (DFPI) came out swinging yesterday with its first major action, issuing subpoenas to a dozen companies in the accounts receivable management industry, investigating consumer complaints about alleged unlawful, unfair, deceptive, or abusive collection practices. The companies that were issued subpoenas are: Portfolio Recovery Associates, Encore Capital Group, … The post New California Regulator Launches Investigation Into Colle

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Collect More

JANUARY 20, 2021

Nope, you aren’t imagining things- it really is that hard getting paid at the moment! The old January hangover- happens every time. This January however seems to be worse than normal so if you are chasing outstanding invoices from last year, just know that you most certainly are not alone. So now that we have identified the problem, how do we fix it?

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Account Recovery

JANUARY 20, 2021

A new president will take office today, and whether you are happy or sad about that, it likely will mean changes are coming for the accounts receivable management industry. To paint a picture of what changes might be on the horizon, AccountsRecovery.net reached out to a number of industry veterans and asked them to share … The post Industry Experts Make Predictions for Biden Administration’s Impact on ARM Industry appeared first on AccountsRecovery.net.

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Accounts Receivables Management 246

Jimerson Firm

JANUARY 20, 2021

Subcontractors are often stuck in a situation where the general contractor refuses to pay them because the general contractor has not been paid by the owner. In support of their refusal to pay, general contractors may rely on a “pay-if-paid” provision in the subcontract. Due to the risk of nonpayment, many subcontractors are reluctant to agree to such a provision.

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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

JANUARY 20, 2021

The Consumer Financial Protection Bureau yesterday released a final rule on the role of supervisory guidance, which clarifies the differences between regulations — which have the full force and effect of law — and guidance — which does not. A copy of the final rule can be accessed by clicking here. It will go into … The post CFPB Issues Final Rule on Role of Supervisory Guidance appeared first on AccountsRecovery.net.

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Account Recovery

JANUARY 20, 2021

INDUSTRY EXPERTS MAKE PREDICTIONS FOR BIDEN ADMINISTRATION’S IMPACT ON ARM INDUSTRY A new president will take office today, and whether you are happy or sad about that, it likely will mean changes are coming for the accounts receivable management industry. To paint a picture of what changes might be on the horizon, AccountsRecovery.net reached out … The post Daily Digest – January 20.

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Jimerson Firm

JANUARY 20, 2021

In response to the mortgage foreclosure crisis, the Supreme Court of Florida established a statewide mandatory mediation program for residential mortgage foreclosures. Due to the mandatory mediation program being largely unsuccessful, the Supreme Court of Florida terminated the program on December 19, 2011. However, lenders should be aware that judges are still able to refer foreclosure lawsuits to mediation on a case-by-case basis, with or without a referral request to mediation. § 44.102(2)(b)

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Burr Forman

JANUARY 20, 2021

The new Economic Aid Act passed by Congress authorizes new PPP loans for first-time borrowers, but also additional PPP loans for those that already received a loan last year. This addresses the requirements and issues for the self-employed and sole proprietors, who have no employees, and who wish to apply for a second PPP loan under the new law (“Second Draw PPP Loan”).

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Nerd Wallet

JANUARY 20, 2021

The Capital One® Spark® Miles for Business offers unlimited miles on purchases, plus some potentially valuable travel benefits. Even so, it does come with an annual fee of $0 intro for the first year, then $95. This card could be a good option for business travel if your goal is to keep things simple when. Rebecca Lake writes for NerdWallet. Email: travel@nerdwallet.com.

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Collections

Troutman Sanders

JANUARY 20, 2021

The Consumer Financial Protection Bureau (CFPB) will soon fall under the leadership of an aggressive consumer advocate. On January 18, President-elect Joe Biden announced that he will nominate current Federal Trade Commission (FTC) Commissioner Rohit Chopra to be the next director of the agency. A CFPB veteran, Chopra holds a B.A. from Harvard and an MBA from Wharton.

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Nerd Wallet

JANUARY 20, 2021

Free room upgrades are a great benefit of elite status in a hotel loyalty program. Road warriors can earn elite status by racking up lots of paid stays, but for the rest of us, there is an easier way. Many co-branded hotel credit cards offer automatic elite status, which can mean a free upgrade to. Rand Shoaf writes for NerdWallet. Email: travel@nerdwallet.com.

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TCPA

JANUARY 20, 2021

As we have reported on here, here, here, and here, a growing number of district courts are issuing opinions addressing whether they have subject matter jurisdiction over TCPA claims alleging robocall violations that occurred when the government debt exception invalidated … Continue reading →

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Troutman Sanders

JANUARY 20, 2021

On December 18, 2020, the U.S. District Court for the Northern District of Indiana denied a debt collector’s motion for summary judgment, suggesting that an open question of whether a telephone system had the capacity to place automatic calls might support a claim under the Telephone Consumer Practices Act (“TCPA”), even if that functionality had not been used.

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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

Payment Savvy

JANUARY 20, 2021

The collection agency faces many challenges, including ever-changing technology and tightening oversight. Indeed, even locating a debtor and determining which communication method is most successful can be an overwhelming task. It’s important to regularly review your processes and procedures and pay close attention to your collection agency challenges.

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Prosperity Now

JANUARY 20, 2021

From the President and CEO Dear Friends, Happy new year! I hope you are all staying safe and well.

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Micro Bilt

JANUARY 20, 2021

A business valuation is an essential tool prospective buyers use to determine if they are interested in purchasing a business. Ultimately, it offers a big picture “snapshot” of the owner’s interest in a business. It is a tool many buyers use to help them determine how much they are willing to pay for your business.

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FFGN COLLECT NY

JANUARY 20, 2021

States have their own rules and regulations when it comes to freezing or restraining bank accounts. Creditors and debtors alike often wonder how debt collection attorneys restrain bank accounts. Below we demystify the process and explain how to freeze a bank account. Before Judgment. Accounts can be restrained before the entry of judgment is made by obtaining an order of attachment from the court.

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Collections

Burr Forman

JANUARY 20, 2021

Law360 highlighted the arrival of Burr & Forman’s new Chief Diversity & Inclusion Officer, Tamika Walters, on January 15, 2021, along with information on her new role and plans for the firm. In her new role, Walters will focus on recruiting, retention, offering professional development and inclusion training and dedicating programs to respect diverse cultures’ history and customs.

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Micro Bilt

JANUARY 20, 2021

A business valuation is an essential tool prospective buyers use to determine if they are interested in purchasing a business. Ultimately, it offers a big picture “snapshot” of the owner’s interest in a business. It is a tool many buyers use to help them determine how much they are willing to pay for your business.

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Price Meese

JANUARY 20, 2021

PMSD partner Thomas C. Martin, Esq., is pleased to serve as Program Co-Chair for the Transportation Lawyers Association’s Annual Mid-Winter Conference. Normally held in person in Chicago, the conference is virtual this year. Wednesday, January 20, 2021 starts with a Freight Claims Boot Camp and the conference runs through Friday, January 22, 2021. The conference features many experts from across North America to impart their wealth of knowledge and expertise in all areas of Transportation Law.

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Public Citizen

JANUARY 20, 2021

Kathy Kraninger has resigned as CFPB director, effective today. Her resignation letter is here.

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Speaker: Dr. Karen Hardy, CEO and Chief Risk Officer of Strategic Leadership Advisors LLC

Communication is a core component of a resilient organization's risk management framework. However, risk communication involves more than just reporting information and populating dashboards, and we may be limiting our skillset. Storytelling is the ability to express ideas and convey messages to others, including stakeholders. When done effectively, it can help interpret complex risk environments for leaders and inform their decision-making.

Account Recovery

JANUARY 20, 2021

Along with his plans to nominate Rohit Chopra to be the new director of the Consumer Financial Protection Bureau, and the previously announced resignation of Ajit Pai as chairman of the Federal Communication Commission, President-elect Biden will get to select the head of another regulator with direct oversight of the accounts receivable management industry following … The post Simons, Smith Announce Resignations From FTC appeared first on AccountsRecovery.net.

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Accounts Receivables Management 162

Burr Forman

JANUARY 20, 2021

In Episode 5 of the Labor and Employment Podcast Series, Burr partners Bryance Metheny and Ron Flowers discuss the implication the Georgia Senate vote will have on labor and employment over the next four years. They provide listeners with an update on Joe Biden’s announcement of the new Labor Secretary, Marty Walsh, who has deep union ties. This podcast is hosted by Bryance Metheny and Ron Flowers from the firm’s Birmingham, AL office.

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Public Citizen

JANUARY 20, 2021

by Jeff Sovern. The American Banker's Kate Berry has the report here. Meanwhile, CQ Roll Call's Steven Harass reports that House Financial Services ranking member Patrick McHenry is critical of the selection of Rohit Chopra as the new CFPB Director, saying "the selection will foster a culture of “overregulation” at the agency." The article continues:  ”This is proof that the Biden team is pandering to members of the far-left who want to weaponize the CFPB to go after fina

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Financial services 56