Tue.Jul 20, 2021

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FDCPA Class Action Filed Against Law Firm, Debt Buyer For Not Having Proper License, Failing to Mention Interest Accrual in Letter

Account Recovery

A class-action lawsuit has been filed in New Jersey by a plaintiff who claims that a debt buyer allegedly violated the Fair Debt Collection Practices Act because it did not have the proper license to authorize a collection law firm to try and collect on a judgment in that state and that a letter sent … The post FDCPA Class Action Filed Against Law Firm, Debt Buyer For Not Having Proper License, Failing to Mention Interest Accrual in Letter appeared first on AccountsRecovery.net.

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What Is Business Interruption Insurance?

Nerd Wallet

Business interruption insurance, also called business income insurance, reimburses small business owners for their operating expenses and lost income after a major disaster. Business interruption insurance typically doesn’t cover damage from floods, earthquakes or pandemics. It is often sold as part of a business owner policy, or BOP. Business interruption insurance coverage often includes a.

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Encore Hires New Chief Risk and Compliance Officer

Account Recovery

Encore Capital Group yesterday announced that it has hired Steve Carmichael to be its Chief Risk and Compliance Officer. Carmichael, who will report directly to Encore Chief Executive Ashish Masih, most recently was the head of enterprise and financial risk management at Discover Financial Services. “Bringing on a person of Steve’s caliber is a continuation … The post Encore Hires New Chief Risk and Compliance Officer appeared first on AccountsRecovery.net.

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Effective Communication Strategies for Collectors: 3 Tips to Impact the Bottom Line

PDC Flow

I opened my debt collection agency in 1998. From day one, the stressful phone calls started to take a toll on me. Sometimes I would lose sleep at night because I was stressed about potential lawsuits, consumer complaints, or losing clients. In 2005, all of that changed. One day, after a series of frustrating collection calls , I just looked at the phone and said, “I want the next person on the phone to be happier by the end of the call than they were at the beginning.”.

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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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Bill Introduced in Ohio to Legalize Debt Settlement

Account Recovery

A bill has been re-introduced in the Ohio legislature that would allow debt settlement companies to operate in the state, but the prospects for passage this time around might be different following a state Supreme Court ruling that was issued earlier in the year. The bill — the Financial Accountability and Independence Recovery (FAIR) Act … The post Bill Introduced in Ohio to Legalize Debt Settlement appeared first on AccountsRecovery.net.

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Daily Digest – July 20. FDCPA Class Action Filed Against Law Firm, Debt Buyer; Bill Introduced in Ohio to Legalize Debt Settlement

Account Recovery

FDCPA CLASS ACTION FILED AGAINST LAW FIRM, DEBT BUYER FOR NOT HAVING PROPER LICENSE, FAILING TO MENTION INTEREST ACCRUAL IN LETTER A class-action lawsuit has been filed in New Jersey by a plaintiff who claims that a debt buyer allegedly violated the Fair Debt Collection Practices Act because it did not have the proper license … The post Daily Digest – July 20.

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New Chase Slate Edge Offers Intro APR for 12 Months, Sign-Up Bonus

Nerd Wallet

Chase has unveiled the Chase Slate Edge?, a new credit card with a 0%-interest 12-month promotional period, plus a limited-time sign-up bonus. Here are the card’s features: 0% intro APR: 0% intro APR for 12 months on purchases and balance transfers, and then the ongoing APR of 14.99% - 23.74% Variable APR. There is a. Sara Rathner writes for NerdWallet.

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Mass. AG Sings Familiar Tune Warning Collectors From Trying to Seize Stimulus Funds

Account Recovery

Like Summer follows Spring and Fall follows Summer, so too does another round of reminders to debt collectors that stimulus funds are protected from garnishment follow the latest round of stimulus payments now being sent to individuals across the country in the form of the child tax credit. The child tax credit, part of the … The post Mass. AG Sings Familiar Tune Warning Collectors From Trying to Seize Stimulus Funds appeared first on AccountsRecovery.net.

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Does Refinancing Start Your Auto Loan Over?

Nerd Wallet

Refinancing starts your auto loan over. When you refinance your auto loan, you choose a new loan that has a different rate and term; that new loan replaces your current loan. Refinance terms offered by lenders most commonly are from two to seven years. Although refinancing starts your loan over, you can choose a new. Shannon Bradley writes for NerdWallet.

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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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Common Types of Debt and How to Avoid Them

Credit Corp

Debt is a double-edged sword. You’re scared of going into it but you’re also scared of what you might miss out on if you don’t. Is having the life you want and avoiding debt even possible? What level of debt can be manageable and even healthy? We’ve got some answers for you. Read on for some tips on common types of debt, as well as strategies to avoid them and avoid debt altogether.

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Limited Partnership: What Is a Limited Partnership, and How to Form One

Nerd Wallet

What is a limited partnership? A limited partnership is a partnership in which there are two types of partners: general and limited partners. General partners manage the business and are jointly liable for the debts and obligations of the business. Limited partners have limited liability for business debts and obligations but don’t actively manage the.

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New Court Ruling on Whether Avoidance Powers Require Benefit to Creditors

PBWT

The Bankruptcy Code grants the power to avoid certain transactions to a bankruptcy trustee or debtor-in-possession. See, e.g., 11 U.S.C. §§ 544, 547–48. Is there a general requirement that these avoidance powers only be used when doing so would benefit creditors? In a recent decision, the United States Bankruptcy Court for the District of New Mexico addressed this question, concluding, in the face of a split of authority, that there was such a requirement.

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What Is the Common App?

Nerd Wallet

The Common App enables you to apply to multiple colleges across the U.S. with one standard application. You’ll enter personal and schooling information just once on the Common App. It can then be sent to up to 20 schools among the roughly 900 institutions that accept the App. All of the colleges that accept the. Colin Beresford writes for 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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CFPB Issues the 2021 Mortgage Servicing COVID-19 Rule

Troutman Sanders

On June 28, the Consumer Financial Protection Bureau (CFPB) issued a final rule to amend Regulation Z’s mortgage servicing requirements in order to “establish temporary special safeguards to help ensure that borrowers have time before foreclosure to explore their options, including loan modifications and selling their homes.”. The rule, which applies to federally regulated mortgage loans secured by a principal residence, accomplishes four things: It creates “temporary special COVID-19 procedural

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The Points Collector’s Guide to Etihad Guest

Nerd Wallet

Etihad Airlines primarily flies to and from its hub in Abu Dhabi, United Arab Emirates, but that doesn’t mean that you can’t fly it to reach many destinations worldwide. And though Etihad isn’t a member of any of the major airline alliances, it has a heavy-hitting list of airline partners that fly around the world. Rand Shoaf writes for NerdWallet. Email: travel@nerdwallet.com.

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Monetizing Information Security Assurance.

Katabat

A successful business capitalizes on opportunities while minimizing risk. We in Information Security, Risk Management and Compliance know that our job is to minimize the risk allowing the business to maximize opportunities. This perspective is one of the foundations of OCEG GRC Principled Performance 1 framework. The benefit of the opportunity (i.e., the ROI) is often reduced due to the Information Security ‘cost burden’ of pursuing the opportunity.

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FreshBooks vs. Xero: Which Is Best for Your Small Business?

Nerd Wallet

FreshBooks and Xero are both cloud-based solutions that have become two of the biggest competitors of QuickBooks Online, the industry standard in small-business accounting software. Comparing FreshBooks and Xero, however, shows that they are largely designed to accommodate different types of businesses. FreshBooks offers unlimited time tracking, invoicing, and project and client management tools with.

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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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Monetizing Information Security Assurance.

Katabat

A successful business capitalizes on opportunities while minimizing risk. We in Information Security, Risk Management and Compliance know that our job is to minimize the risk allowing the business to maximize opportunities. This perspective is one of the foundations of OCEG GRC Principled Performance 1 framework. The benefit of the opportunity (i.e., the ROI) is often reduced due to the Information Security ‘cost burden’ of pursuing the opportunity.

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The Guide to Iberia Airlines Plus Program

Nerd Wallet

Iberia Airlines, based in Madrid, is the flag carrier airline of Spain and a member of the Oneworld alliance. With extensive networks within Europe, Latin America and some destinations in Northern Africa, there is a good chance that this airline could fit into your travel plans at some point. Iberia’s frequent flyer program, Iberia Plus, allows. Ben Nickel-D’Andrea writes for NerdWallet.

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Who Defaults when Bankcard Accommodations End? Resilience Matters

Fico Collections

With non-mortgage write-off rates at the lowest YTD level seen since 2012 [1] , it’s easy to forget that the pandemic has, in fact, stressed many borrowers. In contrast to mortgage forbearances of six to 12 months, bankcard payment accommodations are typically just one to two months, with card lenders less likely to readily grant repeated accommodations.

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Citi Temporarily Adds American Airlines as ThankYou Points Transfer Partner

Nerd Wallet

A long-desired partnership has finally happened — but it’s only going to be around for a limited time. Now through Nov. 13, 2021, Citi cardholders can convert ThankYou points to American Airlines AAdvantage miles. This temporary transfer partner relationship opens valuable new uses for Citi ThankYou points. For many, this transfer partnership has been a.

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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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Monetizing Information Security Assurance.

Katabat

A successful business capitalizes on opportunities while minimizing risk. We in Information Security, Risk Management and Compliance know that our job is to minimize the risk allowing the business to maximize opportunities. This perspective is one of the foundations of OCEG GRC Principled Performance 1 framework. The benefit of the opportunity (i.e., the ROI) is often reduced due to the Information Security ‘cost burden’ of pursuing the opportunity.

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Facebook Decision Upends TCPA Litigation Landscape

TCPA

TCPA Blog’s Mike Daly co-authored an article for the ABA about the impact of the Supreme Court’s recent ruling in Facebook, Inc. v. Duguid, which clarifies the TCPA’s definition of an ATDS.

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Advantage Payroll Services Review: Guide to Cost, Features and Alternatives

Nerd Wallet

Advantage Payroll Services is a Paychex company that has been offering payroll services for over 40 years. Its products and services are designed for small and midsize businesses that want to outsource their payroll functions and prefer not to purchase payroll software. Advantage services include payroll processing, tax filing and new-hire reporting.

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Second Circuit holds that private student loans may be discharged in bankruptcy

Public Citizen

As you may know, most student loans are notoriously difficult to discharge in bankruptcy. But not all loans, according to In re Hilal K. Homaidan (CA2 July 15, 2021). In that decision , the Second Circuit has joined the Fifth and Tenth Circuits and held that private student loans are dischargeable in bankruptcy. The exceptions to discharge for certain student educational benefits contained in 11 U.S.C. § 523(a)(8)(A)(ii), the Court held, do not include private educational loans.

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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.