Account Recovery

FEBRUARY 21, 2023

The Federal Trade Commission on Friday announced that it had filed a lawsuit against an “interconnected” group of companies and their principals, accusing them of delivering tens of millions of “phony” debt service robocalls and ringless voicemail messages in violation of the Telemarketing Sales Rule. A copy of the complaint can be accessed by clicking … The post FTC Sues ‘Web’ of Companies Selling Phony Debt Relief Services first appeared on AccountsRecovery.net.

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Trade 240

Credit Corp

FEBRUARY 21, 2023

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The average household credit card debt in America is $9,260, and the states with the largest amount of credit card debt are Alaska, Hawaii, and New Jersey.

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Credit Card Debt Debt Consolidation Credit Unions Credit Unions 98

Account Recovery

FEBRUARY 21, 2023

CLASS ACTION ACCUSES DEFENDANT OF SENDING LETTERS WITH CONFLICTING SOL INFORMATION A class-action complaint has been filed in federal court in New York accusing a defendant of violating the Fair Debt Collection Practices Act by not being consistent in the information it provided to the plaintiff in a pair of collection notices. More details here. … The post Daily Digest – February 21.

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Fair Debt Collection Collections 130

Nerd Wallet

FEBRUARY 21, 2023

Spencer Tierney writes for NerdWallet. Email: spencer.tierney@nerdwallet.com. Twitter: @SpencerNerd. The article How Climate Change Can Impact Your Finances originally appeared on NerdWallet.

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Banks 97

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

FEBRUARY 21, 2023

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 Class Action Accuses Defendant of Sending Letters With Conflicting SOL Information first appeared on AccountsRecovery.net.

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Account Recovery

FEBRUARY 21, 2023

An insurance company has voluntarily dismissed a lawsuit it brought against a collection operation it sued last year, seeking a declaratory judgment that it was not responsible for covering the company in a class-action lawsuit that had been filed against it. A copy of the order dismissing the suit in the case of United States … The post Insurance Company Dismisses Suit Against Collector first appeared on AccountsRecovery.net.

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Judgment Collections 130

Fraser

FEBRUARY 21, 2023

The State of Michigan, Department of Labor and Economic Opportunity (LEO) and Michigan Nonprofit Association (MNA) have teamed up to help Michigan charities whose operations were impacted by the COVID-19 pandemic. Under this initiative, called the MI Nonprofit Relief Fund, grants in amounts between $5,000 and $25,000 will be awarded to selected entities with annual revenues total under $1 million.

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Acquisition 80

Account Recovery

FEBRUARY 21, 2023

A bill has been introduced in the Utah state legislature that would earmark $100,000 of government funds to be used to purchase unpaid medical debt of state residents and have it forgiven, similar to other programs that have been announced in cities and states across the country. A copy of the bill, S.B. 195, can … The post Utah Legislature Advances Medical Debt Relief Bill first appeared on AccountsRecovery.net.

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Government Healthcare 130

Prosperity Now

FEBRUARY 21, 2023

In the Deep South, Hope Policy Institute , a Prosperity Now Community Champion, is a leader in community development and

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Collections

Nerd Wallet

FEBRUARY 21, 2023

Caitlin Mims writes for NerdWallet. Email: cmims@nerdwallet.com. The article 5 Things to Know About the World of Westgate Mastercard originally appeared on NerdWallet.

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Prosperity Now

FEBRUARY 21, 2023

Black History Month is a time for reflection, celebration, and truth telling of the progress of Black people and the

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Nerd Wallet

FEBRUARY 21, 2023

Steven Porrello writes for NerdWallet. Email: wpguestuser+sporrello@nerdwallet.com. The article 5 Stocks With Surprisingly Strong Q4 Earnings originally appeared on NerdWallet.

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Troutman Sanders

FEBRUARY 21, 2023

Under ERISA claims procedure regulations, group health plans must provide a “full and fair” review of all claims submitted by plan participants. These claims procedure regulations provide a list of minimum standards, including determinations within a certain timeframe, specific content requirements of adverse notifications, and the opportunity to submit evidence through an internal administrative appeal process.

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Healthcare 52

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

Nerd Wallet

FEBRUARY 21, 2023

Dalia Ramirez writes for NerdWallet. Email: dramirez@nerdwallet.com. The article Guardianship: What it Is and How it Works originally appeared on NerdWallet.

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Troutman Sanders

FEBRUARY 21, 2023

As previously reported here , on May 25, 2022, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post , examining what it described as the “practice of suppressing payment data” by credit card issuers in connection with their credit reporting. In its blog post, the CFPB alleged its research conducted in 2020 “uncovered that only about half of the largest credit card companies contribute data to credit reporting companies about the exact monthly payment amounts made by b

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Nerd Wallet

FEBRUARY 21, 2023

Sarah Schlichter writes for NerdWallet. Email: sschlichter@nerdwallet.com. The article What Is a Home Insurance Deductible? originally appeared on NerdWallet.

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Home Insurance 72

Fico Collections

FEBRUARY 21, 2023

Home Blog FICO Canada Bankcard Industry Benchmarking Trends: Q4 2022 Update Ready for a recession? An insider look at bankcard and consumer trends in Canada FICO Admin Tue, 07/02/2019 - 05:19 by Amir Sikander expand_less Back To Top Tue, 02/21/2023 - 16:00 Recession talks have increased over the last few months. Canadian consumers are being hit with the rising cost of goods and borrowing.

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Financial Institution Banks Collections 52

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Collections

Nerd Wallet

FEBRUARY 21, 2023

Ramsey Qubein writes for NerdWallet. Email: travel@nerdwallet.com. The article The Best Alaska Cruises originally appeared on NerdWallet.

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Fico Collections

FEBRUARY 21, 2023

Home Blog FICO US Bankcards Industry Benchmarking Trends: 2022 Q4 Update Bankcard delinquencies continue to rise, higher losses are coming in 2023 FICO Admin Tue, 07/02/2019 - 04:56 by Leanne Marshall expand_less Back To Top Tue, 02/21/2023 - 16:00 FICO releases quarterly US Bankcard Industry Benchmarking trends, to catch up on the last quarter click here.

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Accrued Interest Retail Consumer Credit Government 52

Prosperity Now

FEBRUARY 21, 2023

In 2023, the Prosperity Now Policy team is renewing our commitment to promoting federal , state and local policies that

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PDC Flow

FEBRUARY 21, 2023

When a customer pays late, it may seem like no big deal. However, if you make a habit of accepting past due invoices from customers, you’ll start to notice it in your bottom line. To keep your business healthy, you should minimize how many overdue invoices your company has open at one time. How to Collect More Past Due Invoices For organizations with a large number of past due invoices, it’s essential to clear out as many unpaid accounts as possible to create a more manageable workload.

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Collections 83

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.

NACM

FEBRUARY 21, 2023

Economists predict a slowdown in U.S. labor market activity this year with the continued battle of inflation and a looming recession. The current unemployment rate fell slightly lower to 3.4% in January, per the Bureau of Labor Statistics—and despite recession fears, the unemployment rate has remained historically low between 3.5 to 3.7% since Marc.

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Troutman Sanders

FEBRUARY 21, 2023

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 February 16, the Securities and Exchange Commission (SEC) filed a civil enforcement action against Terraform Labs, the creator of the Terra USD (UST) algorithmic stablecoin, and its founder Do Kwon for allegedly offering and selling “crypto-a

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Financial services Student loans Student Loans Banks 52

Troutman Sanders

FEBRUARY 21, 2023

In a letter dated February 10, the American Bankers Association (ABA), Consumer Bankers Association (CBA), Credit Union National Association (CUNA), National Association of Federally‐Insured Credit Unions (NAFCU), and The Clearing House (TCH) (collectively, the Associations) vigorously requested that the Federal Reserve Board (Fed) extend the effective date for the final rule amending Regulation II (Final Rule) from July 1, 2023 to January 1, 2025 in order to provide debit card issuers time to i

Banks 52

Banks Credit Unions Credit Unions Financial Institution 52

Troutman Sanders

FEBRUARY 21, 2023

As we previously reported on the blog, the Consumer Financial Protection Bureau (CFPB) recently published a proposed rule that would dramatically cut the safe harbor for credit card late fees. See the full blog post on the CFPB’s proposed credit card rule here. In his State of the Union address, President Joe Biden got in on the attack against “junk fees.

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Banks Financial services 52

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Credit Unions