Fri.Jun 18, 2021

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Hunstein Cases Propel Spike in FDCPA Suits, While TCPA and FCRA Suit Totals Fall: WebRecon

Account Recovery

Hunstein copycat cases propelled the number of Fair Debt Collection Practices Act cases filed in May higher, according to data released this week by WebRecon, which tracks litigation across the accounts receivable management industry. More than 200 lawsuits alleging companies violated the third-party disclosures provisions of the FDCPA have been filed since the Eleventh Circuit … The post Hunstein Cases Propel Spike in FDCPA Suits, While TCPA and FCRA Suit Totals Fall: WebRecon appeared fi

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Savings Tips for Newbies, Experts and Everyone in Between

Nerd Wallet

When it comes to saving money, this year may look a little different from years past. The savings rate is lower than its peak of about 34% in April 2020, but Americans are still saving more than they did before the pandemic. This is according to the U.S. Bureau of Economic Analysis, which defines savings. Margarette Burnette writes for NerdWallet. Email: mburnette@nerdwallet.com.

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Daily Digest – June 18. Judge Grants MTD in FDCPA Case Over Alleged Third-Party Disclosure; Senator Opens Probe Into CFPB

Account Recovery

JUDGE GRANTS MTD IN FDCPA CASE OVER ALLEGED THIRD-PARTY DISCLOSURE Who else but the recipient of a collection letter and the mail carrier who delivered it would have access to that letter to see a mini-Miranda statement that had bled through an envelope, asked a District Court judge in Illinois when granting a defendant’s motion … The post Daily Digest – June 18.

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Tips for Staying Cool ?? Even When They Owe You Money ??

Enterprise Recovery

One of the top stressors of Americans is their financial well-being. Take into account owning your own consulting business, starting a software company or freelance career, and that stress is exponential. It's one thing to lack personal financial literacy but when your business and livelihood are also at stake, the anxiety can leave you paralyzed. Now imagine that you have to contact a customer that's behind on payments. ??.

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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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Appeals Court Denies En Banc Request in TCPA Case Over Single Pre-Recorded Message

Account Recovery

An Appeals Court yesterday denied an en banc request in a case relevant to the debt collection industry, but it wasn’t the Eleventh Circuit and it wasn’t the Hunstein case. The Third Circuit Court of Appeals yesterday denied an en banc request in a Telephone Consumer Protection Act case over a single phone call after … The post Appeals Court Denies En Banc Request in TCPA Case Over Single Pre-Recorded Message appeared first on AccountsRecovery.net.

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Judge Grants MTD in FDCPA Case Over Alleged Third-Party Disclosure

Account Recovery

Who else but the recipient of a collection letter and the mail carrier who delivered it would have access to that letter to see a mini-Miranda statement that had bled through an envelope, asked a District Court judge in Illinois when granting a defendant’s motion to dismiss after it was sued for allegedly violating the … The post Judge Grants MTD in FDCPA Case Over Alleged Third-Party Disclosure appeared first on AccountsRecovery.net.

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Study reports consumers find courts fairer than arbitration

Public Citizen

Farshad Ghodoosi of the David Nazarian School of Business & Economics, California State University, Northridge and Monica Sharif of California State University, Los Angeles have written Justice in Arbitration: The Consumer Perspective, International Journal of Conflict Management (2021). Here is the abstract: Purpose: Arbitration—a binding private third-party adjudication—has been the primary legal way for resolution of consumer disputes.

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Here’s What Inflation Could Mean for Prime Day Deals

Nerd Wallet

Amazon’s much-anticipated Prime Day event is coming on June 21 and 22. And unlike past years, this installment of the annual sale coincides with a reopening economy and climbing inflation. In May, the consumer price index — which measures the change in prices that consumers pay for goods and services — rose 5% for all. Lauren Schwahn writes for NerdWallet.

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Michigan COVID-Related Capacity, Mask and Gatherings Restrictions Will be Lifted Beginning June 22

Fraser

Governor Gretchen Whitmer announced on June 17, 2021 that COVID-related restrictions for capacity, masks and gatherings will be lifted effective June 22. Beginning June 22, capacity in both indoor and outdoor settings will increase to 100 percent and the state will no longer require residents to wear a face mask. The lifting of these restrictions was expected to take place on July 1.

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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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Chart of Accounts: What It Is and Why Your Business Should Have One

Nerd Wallet

No matter what type of business you operate, you need a chart of accounts. It’s the basis of a good small business accounting system and functions as a map of your business’s finances. Your chart of accounts is the listing of the accounts that are currently made available for recording transactions in your general ledger, along. Stacy Kildal writes for NerdWallet.

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Judge Issues Preliminary Injunction Blocking Detroit from Issuing Recreational Marijuana Business Licenses; Says Licensing Program “Likely Unconstitutional”

Fraser

Last November, the City of Detroit announced its rules for allowing licensed adult-use recreational marijuana sales, which included controversial provisions meant to give “social equity applicants” a competitive opportunity. Applicants are entitled to preferential treatment if they have lived in Detroit for: 15 of the last 30 years. 13 of the last 30 years and are low-income. 10 of the last 30 years and have a past marijuana-related criminal conviction, or.

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What Is Bookkeeping? A Small-Business Owner’s Guide

Nerd Wallet

One of the first challenges new business owners face is managing their business’s bookkeeping. Not only is solid bookkeeping required to file your tax returns each year, but it is also necessary to have the financial information you need to make sound business decisions. Even with this inherent knowledge about the importance of bookkeeping, many. Billie Anne Grigg writes for NerdWallet.

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No Insolvency Action till end of September

UK debt collections

The Government has announced the extension of temporary insolvency measures which includes the restrictions on issuing of winding up petitions and statutory demands. The change to the regulations will mean restrictions on statutory demands and winding up petitions will remain for a further three months until 30th September 2021. The measures were introduced in the Corporate Insolvency and Governance Act in March 2020, including protecting businesses from aggressive creditor enforcement and remov

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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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Alliant to Modify Rewards on 2.5% Cashback Card

Nerd Wallet

Beginning in July 2021, Alliant is changing its rewards structure on the Alliant Cashback Visa® Signature Credit Card. Alliant will offer cardholders a tiered rewards program that will impose new requirements in order to snag that solid 2.5% cash-back rate on purchases. Here’s a look at what’s changing. New rewards requirements The new tiered rewards.

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Mistakes You Might Be Making in Your Business

JMA

There’s no perfect business, as much as there’s no ideal business owner. How you manage things is entirely up to you, your beliefs, and your business philosophy. However, you’re bound to make mistakes here and there, and even the most seasoned entrepreneurs have found themselves in a bind. To help you out, we’ve listed down. Read more » The post Mistakes You Might Be Making in Your Business appeared first on JMA Credit Control.

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Accrual vs. Cash Basis Accounting: What’s the Difference?

Nerd Wallet

If you’ve ever accessed your financial statements from your bookkeeping software, you might have seen options for “cash basis” or “accrual basis” statements. Even if you don’t produce your own financial statements, chances are, you’ve heard the terms “cash basis accounting” and “accrual basis accounting.” You might have even noticed these terms on your business’s.

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Top 10 International ETFs to Diversify Your 401(k)

Credit Corp

This article originally appeared on The Financially Independent Millennial and has been republished here with permission. Are you considering an international ETF for your portfolio? Indeed, 2019 turned out to be the second-best year on record for ETFs. In this period, exchange-traded funds inflows exceeded $326 billion. However, 2020 was a different year as the stock market started to experience challenges due to COVID-19.

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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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WWE, Credit One Bank Match Up With a New Credit Card

Nerd Wallet

If you’re a WWE super fan, this new credit card offer could be a powerslam for your wallet. Credit One Bank has partnered with the WWE to launch the Champion Credit Card. It offers: 3% cash back on eligible cable, internet, satellite TV and mobile phone services. 2% cash back on eligible dining purchases. 1%. Erin Hurd writes for NerdWallet. Email: ehurd@nerdwallet.com.

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Senator Opens Probe Into Potential Civil Service Violations at CFPB

Account Recovery

Rohit Chopra hasn’t even been confirmed by the Senate to be the next Director of the Consumer Financial Protection Bureau and he’s already being asked questions by a leading Senate Republican after a report was published this week detailing how the Biden administration is attempting to “sideline” top officials at the regulator.

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4 Neobanks Show Up for Their Communities

Nerd Wallet

Big banks design their services for a broad customer base, but in doing so, they can fall short of serving the needs of historically marginalized communities. That gap is creating opportunities for new financial technology firms with roots in these communities. “Representation matters so much in fintech,” says Asya Bradley, co-founder and chief operating officer.

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You Could Be Getting More From Your Employer Benefits

Nerd Wallet

Vaccination rates are climbing and employers are rolling out back-to-office, back-to-normal plans. But some employees may want a new normal — one that includes flexible scheduling and benefits that align with their needs and values. “Expectations have changed. They were already changing, but with COVID-19, the how and where and why we work have all.

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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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Top QuickBooks Online Alternatives 2021

Nerd Wallet

QuickBooks Online, the most widely used accounting product in the U.S., comes with valuable features that make it a strong choice for many small businesses. But its drawbacks include a high price tag, the need for basic accounting knowledge to use it, low-rated customer support, invoices that aren’t very customizable and limited inventory management capabilities that.

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How to Run a QuickBooks Sales Tax Report

Nerd Wallet

Sales tax management is a no-profit activity for your business. It’s not fun, but it is necessary. Setting up proper sales tax management systems — both for tracking and for making sure the cash is always available to pay your sales taxes — will give you peace of mind and let you focus on running. Billie Anne Grigg writes for NerdWallet. Email: bagrigg+wpguestuser@nerdwallet.com.

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How to Enter Credit Card Charges in QuickBooks Online

Nerd Wallet

Entering your credit card charges in QuickBooks Online is quick and simple. The hardest part is determining your process for entering the charges. If you can’t decide which method to use, consult with your accountant or a QuickBooks ProAdvisor. They will be able to assess your business as a whole and advise you on which method will. Billie Anne Grigg writes for NerdWallet.

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Can You Get a No-Doc Business Loan?

Nerd Wallet

Some lenders (typically online or alternative lenders) offer no-doc business loans. Tempting as it might be to get funding without all the paperwork, these loans often come with high interest rates and fast repayment terms. Picking out the best small-business loan means more than just going with whichever option is most convenient. But if you’re. Brian O'Connor writes for NerdWallet.

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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.