Account Recovery

NOVEMBER 7, 2023

The Court of Appeals for the Eleventh Circuit yesterday overturned a lower court’s ruling that the Fair Credit Reporting Act and followed a number of other Appeals Courts in ruling that the Act does not require individuals demonstrate proof of actual damages in order to recover statutory damages.

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Collections 246

Consumer Finance

NOVEMBER 7, 2023

Citi singled out for discrimination applicants for certain credit card products whom it suspected of being of Armenian descent.

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Financial services 145

Account Recovery

NOVEMBER 7, 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?

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Prosperity Now

NOVEMBER 7, 2023

The Community Reinvestment Act (CRA), enacted in 1977, is a key piece of legislation meant to ensure that underserved communities get equitable access to credit. In late October, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule updating the regulations governing the CRA—the first such reform in over 25 years.

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Banks Government 116

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

NOVEMBER 7, 2023

A District Court judge in Nevada has stayed an investigation by the Consumer Financial Protection Bureau into the a short-term small-dollar lender until the Supreme Court issues its ruling on whether the funding structure for the Bureau is constitutional or not.

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Lender Financial services 147

Account Recovery

NOVEMBER 7, 2023

Here’s a shocker … removing medical debt tradelines from consumers’ credit reports has led to fewer consumers having medical debts on their credit reports and improved the credit scores of individuals who used to have medical debts on their credit reports, according to a published report. Who could have seen that coming?

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Consumer Credit Healthcare 130

Consumer Finance

NOVEMBER 7, 2023

The CFPB took action against Citi, one of the globe’s largest banks, for intentionally and systematically discriminating against Americans of Armenian descent.

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Banks Financial services 90

Account Recovery

NOVEMBER 7, 2023

Omissions From Rep During Call with Consumer Lead to FDCPA Suit Appeals Court Reverses Ruling on FCRA Damages Changes to Medical Debt Credit Reporting Boosting Consumers’ Credit Scores by 30 Points: Report Judge Stays CFPB Investigation Pending Supreme Court Ruling WORTH NOTING: Word games and tai chi can have big impacts on your body and […]

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Consumer Credit 100

PDC Flow

NOVEMBER 7, 2023

Most modern debt collection agencies are starting to use email for collection, or have it on the roadmap to implement soon. Consumers like the convenience of email and companies prefer advantages like: The cost savings of using email compared to traditional mail The possibility to reach consumers you otherwise wouldn’t Faster collection on accounts Even with the positive aspects of email for debt collection, one point of hesitation remains – sending validation notices.

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Collections Collection Agencies Collections Agency Original Creditor 62

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Collections

UK debt collections

NOVEMBER 7, 2023

Yorkshire based Doubled Glazing giant Safestyle is facing liquidation. Only last week, the company, which has its HQ in Bradford, announced administrators had been appointed. Around 680 of its workers were made redundant as a result of the firm going into administration. The company failed after facing a series of pressures, including runaway inflation and poor consumer confidence, administrators said.

Trade 59

Trade 59

Consumer Finance

NOVEMBER 7, 2023

The CFPB notes that there are a few things that routinely come up, especially related to ensuring that startups and new businesses can emerge, bring their services to market, and challenge incumbents.

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Startups 52

TCPA

NOVEMBER 7, 2023

Last week, the Ninth Circuit in True Health Chiropractic, Inc. v. McKesson Corp. (True Health II), No. 22-15710 (9th Cir. Oct. 25, 2023), affirmed the Northern District of California’s earlier ruling in True Health Chiropractic Inc. v. McKesson Corp., 13-cv-02219 (N.D. Cal. Apr.

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Troutman Sanders

NOVEMBER 7, 2023

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On November 2, the Federal Trade Commission (FTC) announced that it is taking action against a personal finance app provider, alleging that its promises of “instant” cash advances were deceptive and that the company “locked” consumers into a monthly me

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Financial services Debt collector Loans Foreclosure 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

The Kaplan Group

NOVEMBER 7, 2023

The number of women-owned businesses in the U.S. is growing. The latest Census data counted over 1.1 million companies owned by women entrepreneurs in 2018, and these companies do over $1.8 trillion in sales each year. Together, they employ 10.1 million workers. While these stats are impressive, most businesses will need outside funding at some point.

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Loans Lender Banks Collateral 52

Burr Forman

NOVEMBER 7, 2023

The United States District Court for the Northern District of Georgia has recently ruled that a consumer cannot maintain a claim under the Georgia Fair Business Practices Act (GFBPA) where the claim arises out of a loan transaction that is subject to state and federal regulations. In Baughman v. Truist Bank , No. 123CV03199JPBJKL, 2023 WL 6940698 (N.D.

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Retail Banks Loans 40

NACM

NOVEMBER 7, 2023

NACM's 128th Credit Congress will be held in Las Vegas, NV from June 9-12, 2024. With networking, educational seminars and a chance to explore and enjoy entertainment in the city, this Credit Congress is one opportunity you do not want to miss!With several sessions offered, credit professionals are able to learn and connect with others on any issue.

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Education 5