Tue.Feb 22, 2022

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Daily Digest – February 22. Judge Rules Plaintiff Lacks Standing Over Unopened Letters; FCC Chair Wants to ‘Fix’ TCPA

Account Recovery

JUDGE RULES PLAINTIFF LACKS STANDING IN FDCPA CASE BECAUSE COLLECTION LETTERS WERE NEVER OPENED A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling that the plaintiff lacked standing to sue because even though she accused the defendant of sending her 85 collection … The post Daily Digest – February 22.

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How to Protect Your Spending Power From Inflation

Nerd Wallet

Inflation — the rise in consumer prices — is a slow erosion of your money over time. Before 2021, the United States hadn’t seen annual core inflation much above 3% for the better part of 25 years, says Michael Ashton, managing principal of Enduring Investments, a consulting and investing firm in Morristown, New Jersey. So. Hal M. Bundrick, CFP® writes for NerdWallet.

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FCC Proposes Largest Robocall Fine Ever as Chair Makes Comments About ‘Fix’ing Consumer Protections Under TCPA

Account Recovery

The Federal Communications Commission has proposed its largest fine ever — $45 million — against a company accused of making “hundreds of thousands” of illegal robocalls attempting to sell health insurance. Perhaps most interestingly to companies in the accounts receivable management industry was a comment from the Chair of the FCC who said that something … The post FCC Proposes Largest Robocall Fine Ever as Chair Makes Comments About ‘Fix’ing Consumer P

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Money Red Flags Can Make or Break a Couple

Nerd Wallet

When it comes to money and relationships, we’re all a bit like Goldilocks — this ex spent too much, this ex was too cheap. It can be a long, difficult search for someone who is just right. Even in a long-term relationship, you can be unpleasantly surprised by someone you thought you knew well. Carla. Sara Rathner writes for NerdWallet. Email: srathner@nerdwallet.com.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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Judge Rules Plaintiff Lacks Standing in FDCPA Case Because Collection Letters Were Never Opened

Account Recovery

A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling that the plaintiff lacked standing to sue because even though she accused the defendant of sending her 85 collection letters, she never claimed to have opened any of them. A copy of the … The post Judge Rules Plaintiff Lacks Standing in FDCPA Case Because Collection Letters Were Never Opened appeared first on AccountsRecovery.net.

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Trying to Read the Tax Season Tea Leaves

Account Recovery

Income tax season is not just a boon for companies in the accounts receivable management industry; it’s also usually a bonus for consumers, too. This year, though, could be different, thanks to a variety of economic and pandemic-related factors that may make tax returns less bountiful than usual. A report issued last week by the … The post Trying to Read the Tax Season Tea Leaves appeared first on AccountsRecovery.net.

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Personal Liability Coverage for Homeowners

Nerd Wallet

Key takeaways Personal liability insurance covers you if you’re responsible for someone else’s injury or property damage. Personal liability coverage is a standard part of a homeowners insurance policy. It can cover scenarios such as a dog bite or someone getting injured on your property. You probably know your homeowners insurance policy will pay out.

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26 Companies Looking for Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant … The post 26 Companies Looking for Collection Talent appeared first on AccountsRecovery.net.

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Best Banks for Nonprofits

Nerd Wallet

The best banks for nonprofit organizations offer a free or low-fee business checking account, access to credit and ample online tools that help streamline your operations. We scoured our top-rated business accounts to find those with features and services tailored to nonprofit organizations. LendingClub: Best online bank for nonprofits LendingClub is a top-rated online bank.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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.

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Many Borrowers Left Out of Navient’s Settlement with States: Report

Account Recovery

Most individuals who had loans owed to Navient are learning the hard way that they are likely not part of a settlement that was announced last month where the student loan servicing giant announced it was canceling $1.7 billion of delinquent student loans. Those who scrimped and sacrificed to keep making their payments are likely … The post Many Borrowers Left Out of Navient’s Settlement with States: Report appeared first on AccountsRecovery.net.

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Consumer Financial Protection Bureau Outlines Options To Prevent Algorithmic Bias In Home Valuations

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today outlined options to ensure that computer models used to help determine home valuations are accurate and fair. The options will now be reviewed to determine their potential impact on small businesses.

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Best Practice Guide: Collaborating with law firms effectively across the portfolio management lifecycle

Qualco

By George Fertakis. Collaboration with law firms and Debt Collection Agencies (DCAs) is an integral part of modern collections and recoveries practices. Not only at the stage of the legal action where the involvement of legal professionals is necessary, but also at the earlier, amicable collections stages. Involving law firms across the debt management lifecycle.

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How Generation Z Can Jump-start Savings (Advice Anyone Can Use)

Nerd Wallet

When it comes to saving money, the earlier you can start, the better. For Generation Z, broadly described as those born in or after 1997, now is a good time to start focusing on savings. Money-saving advice can be applied at any age, though, so it’s never too late (or too early) to start. If. Margarette Burnette writes for NerdWallet. Email: mburnette@nerdwallet.com.

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ERM Program Fundamentals for Success in the Banking Industry

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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Multiple Pieces of Legislation Swirling Around Virtual Currencies

Troutman Sanders

On February 15, Representative Warren Davidson (R-OH) announced he will be introducing the “ Keep Your Coins Act ,” which is intended “[t]o prohibit Federal agencies from restricting the use of convertible virtual currency by a person to purchase goods or services for the person’s own use, and for other purposes.” That same day, Congressman Josh Gottheimer (D-NJ) also announced a discussion draft of the “Stablecoin Innovation and Protection Act, which is intended to define “qualified stablecoins

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Marriott Bonvoy vs. World of Hyatt: Which Is Best?

Nerd Wallet

Marriott Bonvoy and World of Hyatt both have faithful fans for their loyalty programs and families of hotels. But are their respective programs on par — or even close to it? Marriott is a much larger company than Hyatt, with far more brands and properties around the world. As a result, World of Hyatt packs. Ramsey Qubein writes for NerdWallet. Email: travel@nerdwallet.com.

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Council could scrap use of Debt Collection Agencies to be ‘kinder’

UK debt collections

Council Bosses in Lancashire are to discuss abandoning the use of Debt Collection Agencies to collect rent arrears or council tax. South Ribble and Chorley councillors will discuss bringing in a ‘fair collection charter’ which is aimed at adopting a more ethical, kinder approach to debt collection in Preston and Chorley. The proposed changes and new charter will be presented to South Ribble councillors at a council meeting tomorrow.

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How to Travel to Scottsdale With Points and Miles for a Bachelor/ette Party

Nerd Wallet

Whether you’re looking to celebrate pre-nuptials with a raucous good time or a relaxed, classy weekend, bachelor or bachelorette parties in Scottsdale, Arizona, may be just the ticket. From spas to golf to live entertainment, there’s plenty to keep a cadre of revelers entertained for a weekend of fun. And much of it can be booked. Alisha McDarris writes for NerdWallet.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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Advice for Organizing Your Finances

Debt Guru

Do you feel like you have no idea how much money you’re spending each month? Are your credit card statements always a surprise? In short, is your financial life disorganized? It can be extremely stressful to face the unknown every time you balance your checkbook. Lost bills, missed payment deadlines, and overdrawing your checking account leads to penalties and fees.

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How Much Is Community College Tuition?

Nerd Wallet

Community college tuition and fees for local residents cost $3,800 on average for the 2021-2022 academic year, according to the College Board’s report Trends in College Pricing and Student Aid 2021. When accounting for books, room and board, transportation and other expenses, the average annual total cost of attending community college was estimated to be.

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Are More COVID-Bankruptcies On the Way?

Luftman, Heck & Associates.

It’s no surprise that the COVID-19 pandemic has had an unprecedented effect on the world economy. But despite the pandemic recession and economic turmoil, personal bankruptcies in the U.S. declined significantly in 2020 and 2021 — by about 30% from 2019. However, those numbers could rise again. With the pandemic seemingly waning, several factors have evolved that could cause a new wave of bankruptcies in the coming months.

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How do Statement Credits Work for Travel Credit Cards? 

Nerd Wallet

Travel credit cards can be a great way to earn rewards for discounted travel. In addition to rewards points, these cards often come with other benefits, like complimentary hotel elite status, trip insurance or airport lounge access. Once you’ve earned your points, however, understanding how to redeem them can become overwhelming. Depending on which card you.

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The Power of Storytelling in Risk Management

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.

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Common Myths About Using a Collection Agency

Credit Management Company

The word debt often fills people with anxiety, and not without reason. The average American has over $90,000 of debt , and many struggle to manage this number. Therefore, many people find themselves encountering collection agencies at one point or another. Unfortunately, much of what people “know” about the debt collection industry relies more on myths than facts.

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What happens to the family farm in bankruptcy?

Albuquerque Law

Unfortunately, it is common for individuals in the agriculture industry to face financial challenges in today’s world. Family farms work hard to provide New Mexico residents with some of the most basic needs, yet they may be struggling to pay their bills and secure their own needs. There are options for family farmers to seek relief from debt and the financial challenges they face, but the thought of bankruptcy leads many farmers to worry about whether they will lose their property, their livest