Mon.Nov 30, 2020

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Appeals Court Affirms Ruling Compelling Arbitration in Debt Buying FDCPA Class Action

Account Recovery

The Court of Appeals for the First Circuit has upheld a lower court’s ruling that the purchaser of a defaulted credit card debt is entitled to the same arbitration opportunity as the original creditor, even though the individual who owed the debt prevailed in a civil suit filed by the purchaser because it could not … The post Appeals Court Affirms Ruling Compelling Arbitration in Debt Buying FDCPA Class Action appeared first on AccountsRecovery.net.

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Biden’s Student Loan Forgiveness Could Wipe Out Debt for 15 Million Borrowers

Nerd Wallet

President-elect Joe Biden’s proposal to forgive $10,000 of federal student debt as COVID relief could erase loan balances for 15 million borrowers and reduce balances for millions more, according to federal data. Broad student loan forgiveness could affect 45.3 million borrowers with federal student loan debt who owe a total of $1.54 trillion to the.

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Debt Collection Rule Published in Federal Register, Effective Date Now Official

Account Recovery

The accounts receivable management industry now has an official date for when the Consumer Financial Protection Bureau’s debt collection rule will go into effect — Nov. 30, 2021. The rule was published in the Federal Register on Saturday, but will go into effect one year from today. The CFPB released the first part of the … The post Debt Collection Rule Published in Federal Register, Effective Date Now Official appeared first on AccountsRecovery.net.

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Smart Money Podcast: What Biden May Do for Your Finances and How to Make Money

Nerd Wallet

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion of how the incoming Biden administration might affect your personal finances. Then we pivot to this week’s question from Billy. They ask, “How do I get my hands on some money?” Have a money question? Liz Weston is a writer at NerdWallet.

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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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Compliance Digest – November 30

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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Daily Digest – November 30. FTC Secures $24M Judgment Against Collection Agency; Appeals Court Affirms Ruling in FDCPA Class Actio

Account Recovery

FTC SECURES $24M JUDGMENT AGAINST COLLECTION AGENCY A $24 million judgment has been entered against a collection agency and one of the agency’s co-owners has been ordered to divest himself of his ownership stake in the company that purchased the collection agency in question after it was accused by the Federal Trade Commission of collecting … The post Daily Digest – November 30.

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Mortgage Outlook: Rates Stay Low as December Deadlines Loom

Nerd Wallet

December mortgage rates forecast The good news is that mortgage rates are unlikely to rise in December. The bad news is why: The United States faces much economic uncertainty. At least three expiration dates are coming up in December, with no guarantee that they will be addressed or extended: Dec. 11: If the White House. Holden Lewis is a writer at NerdWallet.

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FTC Secures $24M Judgment Against Collection Agency

Account Recovery

A $24 million judgment has been entered against a collection agency and one of the agency’s co-owners has been ordered to divest himself of his ownership stake in the company that purchased the collection agency in question after it was accused by the Federal Trade Commission of collecting on “phantom” payday loans, “purported” medical debts, … The post FTC Secures $24M Judgment Against Collection Agency appeared first on AccountsRecovery.net.

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Why I Upgraded to a Premium Travel Credit Card in the Middle of a Pandemic

Nerd Wallet

When, in mid-2020, I told my husband I wanted to upgrade my credit card to a premium travel credit card with a $550 annual fee, he looked at me sideways from across the room like I had lost my marbles. Much of the world was still in varying degrees of COVID-19-related lockdown restrictions. Our daily. Erin Hurd is a writer at NerdWallet. Email: ehurd@nerdwallet.com.

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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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Consumer Financial Protection Bureau Sues DMB Financial, LLC for Allegedly Violating the Telemarketing Sales Rule and Consumer Financial Protection Act

Consumer Finance

On December 1, 2020, the Consumer Financial Protection Bureau filed a lawsuit against DMB Financial, LLC alleging violations of the Telemarketing Sales Rule and the Consumer Financial Protection Act of 2010 in connection with its debt-settlement and debt-relief services.

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What Is a Medicare Advantage Plan?

Nerd Wallet

A Medicare Advantage Plan is an all-in-one alternative to Original Medicare. Private insurers that offer these plans contract with the federal government to provide health insurance benefits to people who qualify for Medicare. Compare Medicare options with eHealth Find Medicare Advantage and Medicare Supplement Insurance plans in your area. Find plans on eHealth's non-government site.

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Consumer Financial Protection Bureau Finalizes Advisory Opinions Policy and Announces Two New Advisory Opinions

Consumer Finance

On November 25, 2020, the Consumer Financial Protection Bureau launched a refresh of its public website, consumerfinance.gov. The updated website will feature additional user functionality, an improved layout, more content, and easier access to information.

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Is the American Express Blue Business Cash Card Right for Me?

Nerd Wallet

If you own a small business and want valuable cash-back rewards for your purchases, you may be interested in the American Express Blue Business Cash™ Card. This card features an easy-to-use cash-back rewards program and charges a $0 annual fee. Terms apply. But it’s not for everyone — some users will get more value out. Eric Rosenberg is a writer at NerdWallet.

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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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Onguard and The Boss Cat partner to redefine O2C automation and increase cashflow and collections performance

On Guard

Onguard partners with UK order-to-cash consultants and specialists, The Boss Cat. London, United Kingdom – 30 November 2020 | Onguard, a company in Visma, dedicated to order-to-cash finance transformation, is pleased to announce a new partnership with The Boss Cat company to combine leading-edge AR automation software with first-class credit collection and management consultancy and outsourcing services for all sizes of business in the UK and Ireland.

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On Starter Cards, Rewards Are Now Standard. Here’s Why

Nerd Wallet

When you’re new to building credit, starter credit cards don’t have to feel like a gate to climb over before you qualify for something better. More than ever before, secured cards, student cards and even cards from certain startups are offering cash-back rewards to newbies, much like you’d get with a card designed for someone. Sara Rathner is a writer at NerdWallet.

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Debt Collection Guidelines for Australia

JMA

Are you aware of the debt collection guidelines in Australia? Do you know there is an acceptable, mature, and most of all legal way of trying to recover debt? Debts can accumulate over time when one isn’t careful about money management. Whether you’re a debtor or creditor, debts can be a hindrance when it comes. Read more » The post Debt Collection Guidelines for Australia appeared first on JMA Credit Control.

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Best Places to Stay for Christmas With Points

Nerd Wallet

Christmas is fast approaching, and 2020 celebrations will have a new twist as a result of social distancing and other safety protocols. Hotels are working hard to make the season as happy and healthy as possible. If you’re still figuring out where to stay for Christmas, there are many hotels with loyalty programs hosting unique celebrations. Ramsey Qubein is a writer at NerdWallet.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). 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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GradGuard Review: Tuition Insurance

Nerd Wallet

The bottom line: GradGuard provides tuition insurance for students across the country. It’s best for students who are interested in COVID-19 coverage. ProductTuition insurance EligibilityStudents who haven’t started the first day of class at a four-year, nonprofit college in the United States CostTypically.5% to 2% of the coverage amount depending on the school Covered.

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What is AMEX DSNB on My Credit Report?

Better Credit Blog

Curious about an entry for AMEX/DSNB on your credit report? If you applied for an American Express or store card from Macy’s or Bloomingdale’s, you have no reason to worry. A hard inquiry is simply a lender’s way of checking your credit report to decide whether or not to approve your application. A hard credit check isn’t likely to do too much damage to your credit report. but combined with other inquiries it can affect your score more severely.

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Top 10 Priority Pass Lounges in Mexico and Central America

Nerd Wallet

A top perk of many premium credit cards is complimentary Priority Pass Select Membership, which grants fee-free access to over 1,300 airport lounges worldwide. Within Priority Pass’s lounge network, there are a whopping 47 lounges across 27 cities in Mexico, yet only 12 lounges among all seven countries in Central America (none in Belize, two. Paul Rubio is a writer at NerdWallet.

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The Power of Storytelling in Risk Management

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.

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What is AMRent on My Credit Report?

Better Credit Blog

Have you discovered an entry from AmRent on your credit report? Credit card and loan applications aren’t the only things that require a hard inquiry. Sometimes landlords run a credit inquiry as a part of their screening process for applicants. If you’ve recently applied for residence at a new house or apartment, it could lead to a hard inquiry from AmRent.

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A Guide to the Stash Hotel Rewards Program

Nerd Wallet

Travelers searching for hotels often face a difficult choice: Do you pick a property that’s part of a massive loyalty program like Marriott Bonvoy or Hilton Honors just because you can earn rewards? Or do you pick the hotel you really want, even if it means you won’t earn points toward future stays? With Stash. Ramsey Qubein is a writer at NerdWallet.

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What is Avantus on My Credit Report?

Better Credit Blog

Wondering why Avantus LLC is on your credit report? Finding an entry on your credit report that you don’t recognize can be scary, especially when the entry is accompanied by a decrease in your score. If an entry from Avantus is on your report, it’s most likely because you applied for a mortgage recently. Getting approved for a mortgage, loan, or credit requires a hard credit inquiry, which can lower your score.

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Jocelyn Nager Named Super Lawyer for Fifth Consecutive Year

FFGN COLLECT NY

Ms. Jocelyn Nager, the managing partner of Frank, Frank, Goldstein & Nager P.C., a New York debt collection law firm, has been named a “Super Lawyer” for the fifth consecutive year. Super Lawyers is a rating service that features outstanding lawyers from more than 70 practice areas. The list recognizes no more than 5 percent of attorneys in each state.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.