Account Recovery

AUGUST 18, 2020

The Ninth Circuit Court of Appeals has overturned a lower court’s ruling that granted summary judgment in favor of a debt collector that was sued for violating the Fair Debt Collection Practices Act because it was entitled to the Bona Fide Error defense, determining that the lower court erred in assessing the BFE test. A … The post Appeals Court Overturns FDCPA Case That Used BFE Defense appeared first on AccountsRecovery.net.

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Brown and Joseph

AUGUST 18, 2020

Not all insurance policies are boring! Since the insurance industry can be a little dry, here are 13 interesting insurance facts you probably didn’t know.… The post 13 Interesting Insurance Facts appeared first on Brown & Joseph, LLC.

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Account Recovery

AUGUST 18, 2020

APPEALS COURT OVERTURNS FDCPA CASE THAT USED BFE DEFENSE The Ninth Circuit Court of Appeals has overturned a lower court’s ruling that granted summary judgment in favor of a debt collector that was sued for violating the Fair Debt Collection Practices Act because it was entitled to the Bona Fide Error defense, determining that the … The post Daily Digest – August 18.

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Fair Debt Collection Debt collector Judgment Collections 228

Nerd Wallet

AUGUST 18, 2020

Millions of homeowners could still benefit from refinancing their mortgages to get a lower interest rate. This is true even after a federal regulator startled lenders by dictating a new fee that amounts to a tax on refinancing. Many could save by refinancing Mortgage rates began falling in the spring, as the potential economic impact. Holden Lewis is a writer at NerdWallet.

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Lender 111

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

AUGUST 18, 2020

Even though the state seems to be controlling the number of coronavirus cases and in the face of other states relaxing the collection restrictions that they have put in place, the Attorney General of New York has extended — for the fifth time — a moratorium on collecting certain debts that are owed to the … The post N.Y. AG Extends Collection Moratorium appeared first on AccountsRecovery.net.

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Account Recovery

AUGUST 18, 2020

Things are moving fast and furious in California as state lawmakers are attempting to create their own version of the Consumer Financial Protection Bureau. While much of the details are still in the air, it does appear as though there is enough momentum to get something done by the end of the month. Some of … The post California Lawmakers Still Pushing to Create Own CFPB appeared first on AccountsRecovery.net.

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Nerd Wallet

AUGUST 18, 2020

Cash-back credit cards aren’t well-known for new-cardholder 0% APR offers, those promotions that promise not to charge you interest on new purchases — or sometimes balance transfers — for a certain number of months. But a bunch of cash-back rewards cards feature 0% APR offers, some so good they’re among the best you can get. Gregory Karp is a writer at NerdWallet.

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Account Recovery

AUGUST 18, 2020

The Fifth Circuit Court of Appeals has overturned a lower court’s dismissal of a lawsuit which ruled that an attempt to recover money that was overpaid as part of a grant program related to recovery efforts following Hurricanes Katrina and Rita do not classify as debts under the Fair Debt Collection Practices Act and given … The post Appeals Court Overturns Dismissal of FDCPA Case appeared first on AccountsRecovery.net.

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Fair Debt Collection Collections 147

Nerd Wallet

AUGUST 18, 2020

Whether it’s to earn rewards toward vacations or just finance everyday purchases, there’s strong demand for credit cards among older adults. According to a report from credit bureau Experian, baby boomers (those born between 1946 and 1964) carried an average of 4.8 credit cards in the second quarter of 2019, more than any other generation. Erin Hurd is a writer at NerdWallet.

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Credit Bureau 79

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Collections

Collection Industry News

AUGUST 18, 2020

The Consumer Financial Protection Bureau (CFPB) should ensure its debt collection rulemakings do not extend unwarranted regulatory requirements to first-party debt collectors, CUNA wrote Tuesday in response to a CFPB proposal. The proposal would amend Regulation F to require debt collectors to make certain disclosures when collecting time-barred debts (debts for which the applicable statute of limitations has expired).

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Nerd Wallet

AUGUST 18, 2020

You’ll have a lot of coronavirus safety considerations to weigh before you pull out your travel rewards credit card and book your next trip to Vegas. But once it’s safe to head to Sin City, the bargains can start before you even set foot on a plane. You could arrive in Las Vegas with credits. Michael Friedman is a writer at NerdWallet. Email: travel@nerdwallet.com.

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Consumer Finance

AUGUST 18, 2020

The Consumer Financial Protection Bureau announced that it will provide an additional 60 days for public comment on its Request for Information on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit transaction.

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Nerd Wallet

AUGUST 18, 2020

Credit card point bonuses and side benefits are enticing if you use them well. However, with so many credit card perks out there, you may need to adapt your card usage in order to get the most benefit from it. The Hilton Honors American Express Business Card is no different, and we’ve broken down some. Amanda Johnson is a writer at NerdWallet. Email: travel@nerdwallet.com.

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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

PBWT

AUGUST 18, 2020

The paycheck protection program (“PPP”) has been one of the most popular aspects of the CARES Act (i.e., the initial legislation responding to the COVID-19 pandemic). Yet, as has been widely reported, debtors in chapter 11 cases are not allowed to receive PPP loans. [1] But Congress might remedy that if it agrees on another round of COVID-19 related stimulus.

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Loans Debtor Bankruptcy Education 62

The Kaplan Group

AUGUST 18, 2020

No one wants to be in debt. However, there are times when owing money in order to reach a higher goal is a good thing. It can be argued that our economic system requires some level of borrowing and owing. So, knowing whether a debt is good or bad for you or your business is helpful. Here are 5 things to think about when you are considering taking out a loan. 1.

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Student loans Student Loans Loans Lender 59

Nerd Wallet

AUGUST 18, 2020

It used to be simple. When you flew a mile on an airline, you would generally earn a mile in the airline’s loyalty program. Now, that’s almost never the case. Almost all U.S.-based airlines have now switched to revenue-based mileage programs, meaning you earn miles based on how much you spend. And even for the. JT Genter is a writer at NerdWallet. Email: travel@nerdwallet.com.

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Brown and Joseph

AUGUST 18, 2020

Providing excellent customer service has become one of the most important factors in business success. Companies that offer the best customer service devote lots of… The post 8 Tips for Improving Your Customer Service Strategy appeared first on Brown & Joseph, LLC.

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Collections

Click Notices

AUGUST 18, 2020

What is Multifamily Delinquency Management? . Multifamily delinquency management is the process of managing late rent payments through actions such as sending out notices to residents, filing rent suits, and sometimes eviction. The traditional approach multifamily property managers take for managing these important tasks can be inconsistent and inefficient.

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Burr Forman

AUGUST 18, 2020

The Financial Industry Regulatory Authority (“FINRA”) has issued a special alert to its member firms, alerting them to an imposter website: www.finnra.org (containing an extra “n”). The fake site contains a purported “registration” form and firm gateway page, apparently phishing for credentials. FINRA also warns members that the fake domain may be the source of phishing emails.

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Financial Institution 52

Troutman Sanders

AUGUST 18, 2020

Fannie Mae and Freddie Mac provided temporary guidance to lenders due to COVID-19 on various topics related to servicing mortgage loans. On June 30, Fannie Mae updated its COVID-19 Frequently Asked Questions – Servicing on the topics related to retention workout options, reporting and operational processes, and incentive fees, amongst other topics. Foreclosure Suspension Extended.

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Burr Forman

AUGUST 18, 2020

Join us as we chat with Jackson partner John Lassiter and he tells the story of his involvement in the retirement of Mississippi’s state flag. Born and raised in Mississippi, John regarded getting Mississippi’s state flag as an impossible task in a State with a history riddled with racial division, fear and deep-seeded politics. Listen to John talk about the effects the old flag had on the state’s economy and his idea to place NCAA sports at the center of the case for change.

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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.

Collection Industry News

AUGUST 18, 2020

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? The answer depends on whether the creditor attempts to recover the unpaid mortgage balance or just the property, according to the U.S. Court of Appeals for the Ninth Circuit in Barnes v. Routh Crabtree Olson, P.C. Due to a mortgage borrower’s payment default, Federal National Mortgage Association (“Fannie Mae”) filed a judicial foreclosure action in Oregon state court

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Collection Industry News

AUGUST 18, 2020

In tough times, the Pine Bluff City Council is considering a proposal to sic a private debt collection agency on people with unpaid fines and fees. The Arkansas Community Organizations has written the mayor and city council to ask them reject the proposal. One reason is added economic hardships on people already struggling during the pandemic.

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Collection Industry News

AUGUST 18, 2020

On August 12, 2020, Nicholas Brechun, Compliance Supervisor for the Colorado Fair Debt Collection Practices Act (“CFDCPA” or “the Act”), sent out notice of a stakeholder meeting to discuss amendments to the Act. The stakeholder meeting has been scheduled for August 25, 2020 at 2:00 p.m. The proposed amendments are available in redline here. Most significantly, the suggested rule changes include: Rule 1.05(4) – preventing a terminated licensee from selling rights to collect accounts to anothe

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Collection Industry News

AUGUST 18, 2020

R1 RCM Inc. [ NASDAQ:RCM ], one of the nation’s largest medical debt collection companies, has been hit in a ransomware attack. Formerly known as Accretive Health Inc. , Chicago-based R1 RCM brought in revenues of $1.18 billion in 2019. The company has more than 19,000 employees and contracts with at least 750 healthcare organizations nationwide. R1 RCM acknowledged taking down its systems in response to a ransomware attack, but otherwise declined to comment for this story.

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Credit Unions