Tue.Sep 27, 2022

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Collector Facing Class Action for Allegedly Shortening Validation Period

Account Recovery

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call … The post Collector Facing Class Action for Allegedly Shortening Validation Period appeared first on AccountsRecovery.net.

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How Credit Cards Opened — Then Clogged — Airport Lounges

Nerd Wallet

Years ago, there were business travelers and there were leisure travelers, and nary did the perks of the high-flying former trickle down to the economy-focused latter. Airport lounges that offer cozy chairs, free buffet spreads and an open bar while you wait to board? Those were reserved for the business traveler in the tailored suit. Erin Hurd writes for NerdWallet.

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Client Alert: October 14 Deadline: Medicare Part D Notice of Creditable (or Non-Creditable) Coverage

Fraser

Medicare Part D notices (of either creditable or non-creditable coverage) are due for distribution prior to October 15th. . The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 requires entities who offer prescription drug coverage to notify Medicare Part D eligible individuals whether their prescription coverage is creditable coverage.

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Crypto Calculator: Quickly Calculate Your Profit or Loss

Nerd Wallet

To calculate the return on an investment, subtract the amount you pay for it from the amount you make when you sell. Nerdy Tip: When you trade on an exchange, you’re usually charged a fee each time you buy and sell. Fees are always a drag on investment returns. There are many exchanges that charge. Kurt Woock writes for NerdWallet. Email: kwoock@nerdwallet.com.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Federal Activities: On September 23, the Federal Reserve Board invited comment on operational risk-management requirement updates for certain systemically important financial market utilities (FMUs) supervised by the Fed.

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Digitalization and Artificial Intelligence: 5 Keys to Success

Fico Collections

Home. Blog. FICO. Digitalization and Artificial Intelligence: 5 Keys to Success. Digitalization and artificial intelligence will radically change retail banking. What does this mean for banks? FICO Admin. Thu, 12/19/2019 - 16:29. by Ulrich Wiesner. expand_less Back To Top. Mon, 09/26/2022 - 18:25. Machine learning, language processing, robotics - the artificial intelligence toolbox offers a range of smart tools that enable machines to act autonomously.

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How to Deal with Utility Disconnections

Luftman, Heck & Associates.

Utilities are vital to everyday life. It can be easy to take them for granted, but like other services, you must keep up with payments. If you have difficulty keeping up with those payments, you risk a disconnection. There are ways to stop or stall a disconnection, and programs designed to help those in need. Why Would Utilities Get Cut Off? The most common reason that a utility suspension happens Read More.

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CFPB And FTC File Joint Amicus Brief In 3rd Circuit FCRA Case

Collection Industry News

Weiner Brodsky Kider PC, September 23, 2022. Recently, the CFPB and FTC filed an amicus brief in a Third Circuit FCRA case asserting that furnishers are required to investigate any dispute forwarded to them by a credit reporting company (i.e., indirect disputes) and cannot avoid that obligation by asserting the dispute is frivolous. In the brief, the agencies argued that the text of FCRA is unambiguous and that nothing in the statute that would exempt furnishers from investigating a dispute beca

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Consumer confidence falls to all-time low with a third of households just managing to make ends meet

Collection Industry News

Sarah Collins, September 26, 2022. A third of people were just managing to make ends meet this month, according to a Bank of Ireland sentiment survey. The figure rose to 53pc for lower-income households, Bank of Ireland’s economic pulse survey found, and dropped to 16pc for those at the top end. Consumer confidence fell to an all-time low as households faced rising energy bills and mortgage repayments, with people more gloomy about their overall personal finances, as well as the economy and job

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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58% Of Parents With College-Bound Children Have Changed Their Minds and Now Plan to Apply for Financial Student Aid

Collection Industry News

Sheetal Shah, September 22, 2022. RIVERWOODS, Ill.–(BUSINESS WIRE)–An annual survey from Discover ® Student Loans revealed that 58% of parents with college-bound students didn’t plan on applying for federal aid, but now have changed their minds. According to the survey, 72% of parents of college-bound children who are familiar with the Free Application for Federal Student Aid (FAFSA ® ) 1 plan on filling it out this fall.

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56% of Americans think the U.S. is already in a recession

Collection Industry News

Lorie Konish, September 23, 2022. Investor Toolkit. Both expert and everyday investors are worried a recession is coming. The good news is there are steps you can take now to limit the negative impact a downturn may have on your finances. Start by coming up with a concrete plan and writing it down, one expert says. The possibility of a looming recession is prompting fresh worries for both professional and everyday investors.

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US housing recession could send home prices tumbling 20%, economist says

Collection Industry News

Megan Henney, September 23, 2022. NC State Endowment Committee member Dennis Gartman and Payne Capital Management president Ryan Payne debate how an aggressive Fed could impact markets on ‘Mornings with Maria.’. U.S. home prices are finally falling from a record high notched earlier this year, and could tumble by as much as 20% by mid-2023, according to a top economist.

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Student loan forgiveness: Here’s the estimated number of eligible borrowers by U.S. state

Collection Industry News

Ronda Lee, September 21, 2022. The federal government this week unveiled how many student loan borrowers in each state, Washington, D.C., and Puerto Rico are eligible for President Joe Biden’s debt forgiveness, while also reiterating how cancellation could help narrow the racial wealth gap. The state-by-state figures highlight the number of borrowers who qualify for the $10,000 in cancellation as well as the number of Pell Grant recipients eligible for an additional $10,000 in loan forgive

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Agent Tooling: Connecting AI to Your Tools, Systems & Data

Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage

There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.