Account Recovery

SEPTEMBER 29, 2020

In a case that was defended by Rick Perr of Kaufman Dolowich and Voluck, a District Court judge in New York has granted a defendant’s motion for summary judgment in a class-action lawsuit after it was accused of violating the Fair Debt Collection Practices Act by including references to interest and fees in a collection … The post Judge Grants MSJ in FDCPA Class Action Over Interest, Fees Disclosure in Letter appeared first on AccountsRecovery.net.

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Troutman Sanders

SEPTEMBER 29, 2020

Multiple consumer advocacy groups are demanding the Consumer Financial Protection Bureau (“CFPB”) rescind its April 1, 2020, credit reporting guidance regarding the investigation of error disputes vowed at the beginning of the coronavirus pandemic. In April, the CFPB said it would not hold companies to strict deadlines for investigating disputes that consumers have about information on their credit reports.

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Account Recovery

SEPTEMBER 29, 2020

Even rich people are having problems paying their bills, according to a new report released by the Consumer Financial Protection Bureau. Looking at data that from a previously conducted survey, researchers at the CFPB concluded that 40% of all individuals had difficulty paying a bill or covering an expense in the preceding 12 months. While … The post Consumers Aren’t Great Savers: CFPB Report appeared first on AccountsRecovery.net.

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PDC Flow

SEPTEMBER 29, 2020

In accounts receivable, it's important to stay informed about upcoming legislation and other changes that will impact business (especially during major disruption, like the events happening this year). Lauren Valenzuela has been watching the trends and staying up-to-date with the latest in AR compliance as part of her job as Corporate Counsel, Performant Financial Corp.

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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

SEPTEMBER 29, 2020

A data breach that was the result of a phishing attack and went undetected for ninth months, compromising the personal information of more than 10 million individuals has cost a health insurance provider nearly $7 million to settle potential violations of the Health Insurance Portability and Accountability (HIPAA) Act. The phishing attack, which occurred in … The post Provider to Pay $7M to Settle Breach That Compromised Info of 10M People appeared first on AccountsRecovery.net.

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Healthcare 225

Account Recovery

SEPTEMBER 29, 2020

The Third Circuit Court of Appeals has upheld the dismissal of a Fair Debt Collection Practices Act case in which the plaintiff alleged that a pair of disclosures in a collection letter were misleading, saying that one of the disclosures did the opposite of what the plaintiff alleged and the other allegation was nothing more … The post Appeals Court Affirms Dismissal of FDCPA Suit appeared first on AccountsRecovery.net.

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Fair Debt Collection Collections 147

Fico Collections

SEPTEMBER 29, 2020

I was privileged to join Bruce Curry on a series of two digital roundtables recently, where 13 experienced minds of the industry got together to discuss the current and future situation around collections and recoveries during the current debt tsunami. The attendees had a combined experience of over 300 years across analytics, credit risk and operations across Europe, UK, the Middle East and Southern Africa.

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Collections Banks Education Financial services 87

Account Recovery

SEPTEMBER 29, 2020

JUDGE GRANTS MSJ IN FDCPA CLASS ACTION OVER INTEREST, FEES DISCLOSURE IN LETTER In a case that was defended by Rick Perr of Kaufman Dolowich and Voluck, a District Court judge in New York has granted a defendant’s motion for summary judgment in a class-action lawsuit after it was accused of violating the Fair Debt … The post Daily Digest – September 29.

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Judgment 147

Nerd Wallet

SEPTEMBER 29, 2020

What are donor-advised funds? A donor-advised fund, or DAF, is an account into which you deposit assets for donation to charity over time. You, the donor, get a tax deduction for depositing assets in the fund. A sponsoring organization manages the account; you recommend how to invest and where to donate the assets. Who qualifies. Tina Orem is a writer at NerdWallet.

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Collections

Credit Corp

SEPTEMBER 29, 2020

Because 35% of your credit score relates to paying your debts in a timely manner, becoming so late on payments that the account is charged off can have a significant negative impact on your score. It also looks bad to future creditors because it indicates you might not pay all your bills. Find out more about charge offs and how they affect your credit score.

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Nerd Wallet

SEPTEMBER 29, 2020

Those who hold Membership Rewards-earning American Express credit cards, and particularly owners of The Platinum Card® from American Express and The Business Platinum Card® from American Express, have a few hotel-related benefits and an airfare discount coming their way. Big spenders looking for hotel stays at Fine Hotels + Resorts properties will extract the most.

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On Guard

SEPTEMBER 29, 2020

Two-thirds of finance professionals are now more efficient due to the Covid-19 crisis. London, 29 September 2020 – The Covid-19 crisis is making a big impact on the efficiency of the UK’s finance departments, with 66% of financial professionals reporting that they are working more efficiently since the onset of the pandemic in March of this year. The results from a recent survey into the impact of the pandemic on the sector by fintech company Onguard revealed that this increased efficiency is pr

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Nerd Wallet

SEPTEMBER 29, 2020

Wyndham’s co-branded hotel credit cards, issued by Barclays, have been upgraded. As of Sept. 29, 2020, the new “Earner” portfolio will consist of the following cards, which will offer elevated rewards on gas and spending with Wyndham, along with other perks: Image courtesy of Barclays/Wyndham Wyndham Rewards Earner Card: $0 annual fee. Wyndham Rewards Earner.

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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

FFGN COLLECT NY

SEPTEMBER 29, 2020

The joint and several clause appears in almost every legal loan document. Many people sign loan documents and guarantees after a quick glance because they want to make a deal. The issue with signing without reading the underlying documents is that if and when someone seeks to enforce the agreement as set forth in the document, you are charged with having read it and agreeing to the terms contained therein.

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Nerd Wallet

SEPTEMBER 29, 2020

If you’re considering student loan refinancing, Earnest and CommonBond are strong options. NerdWallet gives both five stars and rates their refinancing loans among the best overall. The right choice is the lender that offers you the lowest interest rate. But if you’re debating Earnest vs. CommonBond because their potential savings are similar, you can decide.

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Student loans Student Loans Loans Lender 60

Better Credit Blog

SEPTEMBER 29, 2020

If you’ve been contacted by 11 Charter Bright House or have noticed their entry on your credit report, you likely have a missed payment to Charter Spectrum that’s causing problems. While 11 Charter Bright House’s calls are annoying, they are the least of your worries in this situation. Debt collectors can cause a lot of problems for your credit score down the line.

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Nerd Wallet

SEPTEMBER 29, 2020

So you nabbed a cheap flight to Maui in a Southwest airfare sale, and now you’re eyeing a brand-new GoPro HERO8 Black for your snorkeling trip in Honolua Bay. If you paid for your flight with Southwest Rapid Rewards points, go ahead and cheers that in-flight mai tai. But if you’re planning on buying the. Sally French is a writer at NerdWallet. Email: sfrench@nerdwallet.com.

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Collections

Price Meese

SEPTEMBER 29, 2020

Greg Meese has been acknowledged as one of America’s Most Honored Lawyers for 2020 by The American Registry. Congratulations Greg on another accomplishment. The post Greg Meese named to 2020 Most Honored List appeared first on Price, Meese, Shulman & D’Arminio, PC.

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Lawyers 52

Troutman Sanders

SEPTEMBER 29, 2020

Like most industries today, Consumer Finance Services businesses are significantly impacted by the novel coronavirus (COVID-19). In response, Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge.

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Burr Forman

SEPTEMBER 29, 2020

Through a bond issued by the South Carolina Jobs-Economic Development Authority (JEDA), St. Joseph’s/Candler Health System is able to expand their services to a new medical campus in Bluffton, South Carolina. The tax-exempt Hospital Revenue Bonds, totaling approximately $19 million, will be used to finance and refinance the acquisition of land, buildings and equipment needed to consolidate oncology services in one location for the new medical campus.

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Nerd Wallet

SEPTEMBER 29, 2020

After surveying consumers for feedback on their travel-related needs during the COVID-19 pandemic, American Express is launching a suite of new temporary offerings, many of them centered around The Platinum Card® from American Express. For a limited time, that premium travel card will offer the following: $150 statement credit for stays at AmEx Travel Fine Hotels.

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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.

Roths Child Law

SEPTEMBER 29, 2020

You might be one of the lucky people in Tennessee who happens to be a financial wizard. Then again, you have a greater chance of being like the majority of others who know enough about finances to make ends meet but would need additional support if a serious crisis were to arise. Personal economics typically fluctuate, and you might have several good years in a row then fall upon some tough times.

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Collection Industry News

SEPTEMBER 29, 2020

The CFPB and the New York Attorney General recently filed suit in the U.S. District Court for the Western District of New York against several debt collection companies and their owners and managers, alleging violations of state and federal law, including the CFPA, the FDCPA, and New York’s UDAP statute, for debt collection practices dating back to 2015.

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Titan Consulting

SEPTEMBER 29, 2020

Key Takeaways. Credit card debt features low monthly payments, but double-digit interest which compounds daily, causing balances to grow fast and making it hard to eliminate the debt. Mortgage payments offer low-interest rates, but higher monthly payments on larger balances over a long period of time. Paying off credit cards will save you money on daily compounding interest payments.

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Collection Industry News

SEPTEMBER 29, 2020

California Gov. Gavin Newsom, facing a Sept. 30 deadline, approved the Debt Collection Licensing Act and legislation to create the Department of Financial Protection and Innovation (DFPI)—essentially a state version of the Consumer Financial Protection Bureau—Friday. The DFPI will include oversight of debt collectors and emerging financial technology products.

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