Wed.Jul 12, 2023

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24 Companies Seeking 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.

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State Partners and CFPB Sue Prehired For Illegal Student Lending Practices

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) joined with several state attorneys general and a state regulator to take action against Prehired for deceptive marketing and debt collection practices.

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Bank of America to Pay $250M in Fines, Restitution Over Double-Dipping NSF Fees, Opening Fake Accounts

Account Recovery

The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency levied fines and restitution in the amount of $250 million on Bank of America yesterday, accusing the financial services giant of repeatedly charging NSF fees on the same transaction, withholding bonuses on credit cards, and illegally accessing consumers’ credit reports to […]

Banks 130
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What Happens If You File For Bankruptcy?

Sawin & Shea

Declaring bankruptcy can appear incredibly intimidating. Sadly, many people choose not to file due to shame and embarrassment. The truth is that there’s nothing wrong with declaring bankruptcy, and it’s often the best option for those struggling with overwhelming debt. If you decide to declare personal bankruptcy, you’ll more than likely need to file through either Chapter 7 or Chapter 13, and these types of bankruptcies have different procedures, durations, and results.

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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 Grants MTD for Lack of Standing in FDCPA Class Action

Account Recovery

A District Court judge in New Jersey has granted a motion to dismiss for lack of standing filed by the defendants in a Fair Debt Collection Practices Act class-action, after they were accused of sending a letter that failed to identify the current creditor to whom the debt was owed and because the creditor was […]

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Daily Digest – July 12. Judge Grants MTD in FDCPA Class Action, BofA to Pay $250M in Fines, Restitution as Part of Enforcement Order

Account Recovery

Judge Grants MTD for Lack of Standing in FDCPA Class Action Bank of America to Pay $250M in Fines, Restitution Over Double-Dipping NSF Fees, Opening Fake Accounts The Transformative Potential of Unified Digital Platforms for Debt Collection 24 Companies Seeking Collection Talent Equabli, Inc.

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Nevada Enacts Law Imposing Licensing Requirements and Regulations on Student Loan Servicers

Troutman Sanders

On June 14, Nevada Governor Joe Lombardo signed into law AB 332 , An Act Relating to Student Education Loans, requiring, among other things, student loan servicers to be licensed by the Commissioner of Financial Institutions and regulating certain conduct of the servicers towards borrowers. The law will take effect on January 1, 2024. The law defines a student loan servicer as “any person, wherever located, responsible for the servicing of any student education loan to any student loan borrower.

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The Transformative Potential of Unified Digital Platforms for Debt Collection

Account Recovery

The landscape of healthcare is changing dramatically, with digital platforms becoming a central component of the consumer experience.

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5 questions to ask before filing for bankruptcy

Roths Child Law

Bankruptcy is a great process that helps many people recover from overwhelming debt obligations. Are you considering filing for bankruptcy? You may need to ask yourself a few questions first. How often can I file for bankruptcy? People can file for bankruptcy as many times as they wish. However, there is a waiting period before people can file the following time.

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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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Florida Construction Lien and Bond Law: Changes are on the Horizon

Jimerson Firm

Florida construction lien and bond law is an ever-evolving statutory creature. Chapter 713 (pertaining to construction liens) and Chapter 255 (pertaining to public project bonds) of the Florida Statues should be reviewed regularly. Statutes & Constitution :View Statutes : Online Sunshine (state.fl.us) 713.01 and Statutes & Constitution :View Statutes : Online Sunshine (state.fl.us) 255.05 Recently, the Florida legislature made certain amendments to Florida lien and bond law, with those c

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132 Members of Congress File Amici Brief Urging Supreme Court to Find CFPB Funding Structure Unconstitutional

Troutman Sanders

As discussed here , on October 19, 2022, the Fifth Circuit Court of Appeals in Community Financial Services Association of America, Limited (CFSA) v. Consumer Financial Protection Bureau (CFPB) held that the CFPB’s funding mechanism violates the appropriations clause because the CFPB does not receive its funding from annual congressional appropriations like most executive agencies, but instead, receives funding directly from the Federal Reserve based on a request by the CFPB’s director.

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Debt Collection SMS Text Scam warning

UK debt collections

Overseas scammers are back at work attempting to scam UK citizens. It is the latest attempt by criminals to target unsuspecting members of the public. The same criminal gangs are thought to be behind the scam text messages sent out claiming to be from HMRC and major High street banks. Mobile phone users have been warned to be on guard from receiving text messages purporting to be from Frontline Collections.

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Barron & Newburger’s Bankruptcy Section Recognized By U.S. News & World Report

BN Lawyers

U.S. News & World Report included Barron & Newburger, P.C. in its Best Lawyers rankings. The firm was listed as Tier 2 in Bankruptcy Litigation for the Austin market. The firm was also listed as Tier 3 in Insolvency and Reorganization for the Austin market: [link] These honors reflect positively upon the Bankruptcy Section’s ability to handle a wide range of areas in the reorganization space.

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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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Member Spotlight: Credit Congress as a First-Timer

NACM

It's hard to believe that one month has already passed since NACM's 127th Credit Congress! Roughly 150 out of 830 Credit Congress attendees experienced the event for their very first time. Laura Luotonen, regional credit manager at Orgill, Inc. (Collierville, TN), a first-time attendee at this year's Credit Congress, is one year into her new job an.