Account Recovery

AUGUST 4, 2020

As might be expected, customer service representatives, a category of workers that include collection agents, were among the hardest hit during the early days of the pandemic, according to research that was published by the Federal Reserve Bank of St. Louis. The research looked at the annual earnings of those who had jobs that were … The post The Workers Most Affected By the COVID-19 Pandemic appeared first on AccountsRecovery.net.

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Collection Agent Banks Collections 246

Credit Corp

AUGUST 4, 2020

Attending college or university is a dream for a ton of people. Yet higher education can be expensive, seemingly putting that dream out of reach for many students and families. Tuition at American schools has steadily increased for decades, so it can be hard for your average student to afford it. But it’s not only tuition costs that you need to consider: fees, room and board, off-campus living, meal plans, textbooks, living essentials and other supplies all cost money.

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Loans Student loans Student Loans Government 96

Account Recovery

AUGUST 4, 2020

It might be one of the biggest mis-conceptions in the accounts receivable management industry today. Ask 10 different professionals to define either artificial intelligence or machine learning and you will likely get 10 different definitions with very little in common between them. But this technology is starting to revolutionize the debt collection industry.

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Accounts Receivables Management Collections 246

Nerd Wallet

AUGUST 4, 2020

The coronavirus is leading to plenty of uncertainty and anxiety among college students. But for graduate students, those feelings are nothing new. A 2018 study in the journal Nature Biotechnology found that “graduate students are more than six times as likely to experience depression and anxiety as compared to the general population.” That’s due to.

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Student loans Student Loans Loans 78

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

AUGUST 4, 2020

Today is the deadline for individuals to file comments on the Consumer Financial Protection Bureau’s Supplemental Notice of Proposed Rulemaking (SNPRM) on time-barred debt disclosures, and unless a lot of people are waiting until the last minute, it is not going to take long to read all the comments that have been submitted so far. … The post Comment Period on Time-Barred Debt Disclosures Closes Today appeared first on AccountsRecovery.net.

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Account Recovery

AUGUST 4, 2020

The California State Court of Appeals has partially overturned a lower court’s denial of a lawsuit claiming a collection law firm violated the Fair Debt Collection Practices Act and the Telephone Consumer Protection Act in which the defendant attempted to use an anti-SLAPP motion to have the case dismissed. A copy of the ruling in … The post Calif.

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Troutman Sanders

AUGUST 4, 2020

On June 29, 2020, the United State House of Representatives passed the Protecting Your Credit Act of 2020, H.R. 5332. The purpose of the bill is to “ensure that consumer reporting agencies are providing fair and accurate information reporting in consumer reports” by amending certain provisions of the Fair Credit Reporting Act (“FCRA”). If the Protecting Your Credit Act of 2020 becomes law, it would amend the FCRA to add requirements for credit reporting agencies (“CRAs”) and furnishers, includin

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Government 64

Account Recovery

AUGUST 4, 2020

ARTIFICIAL INTELLIGENCE WEEK IS COMING It might be one of the biggest mis-conceptions in the accounts receivable management industry today. Ask 10 different professionals to define either artificial intelligence or machine learning and you will likely get 10 different definitions with very little in common between them. But this technology is starting to revolutionize the … The post Daily Digest – August 4.

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Accounts Receivables Management 147

Nerd Wallet

AUGUST 4, 2020

If you have a Citi credit card and shop on Amazon, you now have a new way to pay, via Citi Flex Pay on Amazon. With this feature, for qualifying purchases of $100 or more, eligible cardholders can opt for a monthly payment plan instead of purchasing the item outright with their Citi card. ». Kimberly Palmer is a writer at NerdWallet. Email: kpalmer@nerdwallet.com.

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Collections

PDC Flow

AUGUST 4, 2020

Between the business regulations, HR concerns, and TCPA rules directing your internal policies and procedures, it’s hard to believe there is more your call center should think about. However, taking payments means there are multiple payment processing compliance rules your business must follow too. Keeping all of your regulations straight is time consuming.

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Collections 57

Nerd Wallet

AUGUST 4, 2020

The United? Explorer Card and United Club? Infinite Card, issued by Chase, are tweaking their incentives for new cardholders. But both offers come at a cost, either in the form of a higher minimum spending requirement or an annual fee that now kicks in immediately. Here’s what’s changing: United? Explorer Card Earn 60,000 bonus miles. Sara Rathner is a writer at NerdWallet.

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Better Credit Blog

AUGUST 4, 2020

Is Wakefield and Associates getting your mood and your credit score down? If you’ve been contacted by a debt collection agency, there’s a right and a wrong way to deal with them and get your credit back on track. While picking up the phone and handing over your payment info might stop the agency’s incessant calling, it won’t necessarily help with repairing the damaging effects to your credit score.

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Nerd Wallet

AUGUST 4, 2020

It is always a great time to visit one of the country’s incredibly beautiful national parks, and the costs can be quite affordable ($80 annually for a pass). If you’re in the military, you can get an annual pass for free, and if you’re age 62 or older, you can get an annual pass for. Ben Nickel-D’Andrea is a writer at NerdWallet. Email: travel@nerdwallet.com.

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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

Better Credit Blog

AUGUST 4, 2020

Applying for a credit card can open you up to some rewarding financial benefits, but it might also have a negative effect on your credit score. If the name FNB Omaha has appeared on your credit report recently, it’s likely because you submitted an application for a credit card with the First National Bank of Omaha. A credit card application typically requires a hard inquiry, which can have a poor impact on your credit report for years.

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Nerd Wallet

AUGUST 4, 2020

Chase just released new offers with stellar sign-up bonuses for two of their co-branded United Airlines cards, and they are definitely worth a look. Here’s what the new offers look like for the United? Explorer Card and the United Club? Infinite Card and how to decide which one is right for you. United? Explorer Card. Alisha McDarris is a writer at NerdWallet.

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Troutman Sanders

AUGUST 4, 2020

In a recent decision out of the Middle District of Tennessee, a medical provider’s third-party billing servicer did not qualify as a debt collector under the Fair Debt Collections Practices Act (“FDCPA”) because the debt was not in default when it was placed with the extended billing office. The issue on summary judgment was simple: whether the Defendant, NPAS, Inc.

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Judgment Debt collector Fair Debt Collection Law Firms 52

Nerd Wallet

AUGUST 4, 2020

If you’ve experienced the perks of elite status (i.e., free upgrades, extra baggage allowance, lounge access), you’ll understand why it’s so valuable. United Airlines’ elite status program is called MileagePlus Premier, and it can be very rewarding not just for United flyers but also for those who travel on Star Alliance partner airlines. Follow along.

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Collections

Fico Collections

AUGUST 4, 2020

Back in April, I interviewed FICO's Louise Lunn, who had just been nominated as a finalist in the prestigious Women in Credit Awards being held in London. (You can read that interview here.). In recognition of her contributions, she has been promoted to lead our newly created Global Analytics Delivery organization. Louise, who is based in the UK, will oversee our teams of data scientists worldwide that develop custom analytics solutions and exploratory analytics projects for the world’s top ban

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Troutman Sanders

AUGUST 4, 2020

Virginia Bell Flynn Relocates to. Charlotte Office. Continuing the expansion of our financial services litigation practice in Charlotte, we welcome Virginia Flynn, who joins 12 other litigators in our Charlotte office. view full announcement.

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Financial services 52

Payment Savvy

AUGUST 4, 2020

Starting March 19, 2021, the National Automated Clearing House Association (NACHA) will require businesses to perform online verification of bank accounts before they accept or process ACH payments. This will not just require effort, but it also will have some logical challenges for merchants. Let’s take a closer look at this situation and how to simplify the process for you.

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Collection Industry News

AUGUST 4, 2020

Democrat senators on Tuesday proposed legislation to prevent health care providers from actions such as wage garnishment in connection with medical debts. The COVID-19 Medical Debt Collection Relief Act , sponsored by U.S. Sens. Chris Van Hollen, D-Md., and Chris Murphy, D-Conn., would, according to a news release : Suspend all extraordinary collection actions by health care providers for all medical debt (e.g. wage garnishment, bank account seizure) during the covered period (i.e. from Feb.

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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.

Fico Collections

AUGUST 4, 2020

In today’s connected world, the need for effective vendor risk management is critical. Organizations need new tools that can help speed up the decision-making process, while having the confidence that these decisions can be backed by a complete and validated picture of vendor risk. Traditionally the vendor security risk assessment process has involved a manual and cumbersome spreadsheet-and-email system that is typically slow, labour-intensive, and potentially inaccurate.

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Collection Industry News

AUGUST 4, 2020

DADE CITY, Fla. (WFLA) – Carolyn Matinzi turned to Better Call Behnken for help with a 4-year-old hospital bill that her insurance company claimed it already paid. Days after her call to Consumer Investigator Shannon Behnken, she says Humana Insurance called her to say they are sending additional payment proof to the debt collector. “I am so happy that something finally appears to be happening,” Matinzi said.

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Debt collector Healthcare Collection Companies Collections 40

Collection Industry News

AUGUST 4, 2020

The Supreme Court’s recent decision in Barr v. American Association of Political Consultants held the government-debt exception of the TCPA unconstitutional under the First Amendment’s Free Speech Clause. This means that going forward, companies that make “debt-collection” calls on behalf of the federal government can only do so with the prior express written consent of the called individuals.

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Collection Industry News

AUGUST 4, 2020

Comments to Consumer Financial Protection Bureau reflect the need for more detailed model validation notices and testing. ACA International submitted comments on the Consumer Financial Protection Bureau’s debt validation notice qualitative testing to assess the effectiveness and performance of its model debt validation notices. The CFPB notes that it plans to conduct cognitive interviews to assess the effectiveness and validate the performance of the model debt collection validation notices.

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