Wed.Dec 08, 2021

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Consumer Groups, CFPB Settle Suit Over Consumer Law Taskforce

Account Recovery

The Consumer Financial Protection Bureau has settled a lawsuit filed against it by a group of consumer advocates, who alleged that the previous leadership of the CFPB “stacked” a taskforce that was created to modernize consumer protection laws with representatives from the financial services industry, stipulating that it failed to comply with the requirements of … The post Consumer Groups, CFPB Settle Suit Over Consumer Law Taskforce appeared first on AccountsRecovery.net.

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Businesses must focus more on debt collections in 2022

American Profit Recovery

It should be no secret to anyone owning or running a business. It is slowly getting more expensive to operate a profitable business and it is not getting any less costly. Costs associated with just about everything on your expense sheet have gone up during the past 12 months. And as you’ve also seen, the pandemic caused many people to spend more money.

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Daily Digest – December 8. Judge Rules Plaintiff Lacks Standing on Hunstein Claim; No-Code Collection Platform for Creditors Raises $16M

Account Recovery

JUDGE RULES PLAINTIFF LACKS STANDING ON HUNSTEIN CLAIM A District Court judge in New York has granted a plaintiff’s motion to remand a Hunstein case back to state court, ruling that the plaintiff does not have standing to sue in federal court because the complaint does not allege that the communication of his information by … The post Daily Digest – December 8.

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Southwest To Roll Out A Fourth Fare Type In 2022

Nerd Wallet

Southwest Airlines is set to offer a fourth fare type in 2022, which could give passengers more options concerning how many points they earn per flight, their cancellation policy and how soon they board. The news was announced during the airline’s investor day presentation held on Wednesday. So far, the airline is light on details. Sally French writes for 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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Judge Rules Plaintiff Lacks Standing on Hunstein Claim

Account Recovery

A District Court judge in New York has granted a plaintiff’s motion to remand a Hunstein case back to state court, ruling that the plaintiff does not have standing to sue in federal court because the complaint does not allege that the communication of his information by the defendant to a letter vendor was seen … The post Judge Rules Plaintiff Lacks Standing on Hunstein Claim appeared first on AccountsRecovery.net.

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No-Code Collection Platform Raises $16M

Account Recovery

Receeve, a German collection and recovery platform that is currently focusing on the European and South American markets, announced that it has secured ABN Amro — the third-largest bank in the Netherlands not only as a client, but also an investor, part of a $16 million investment round. Receeve, whose customers include banks, utilities, telecoms, … The post No-Code Collection Platform Raises $16M appeared first on AccountsRecovery.net.

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How to Justify the Annual Fee on a Travel Credit Card

Nerd Wallet

If you’re seeking even a few travel upgrades, you’re more than likely going to need a travel credit card. While it’s true that there are plenty of decent no-annual-fee travel credit cards out there, paying for an annual fee can sometimes pay dividends when you calculate the eye-popping value that some travel credit cards deliver. Sally French writes for NerdWallet.

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Emergency Rental Aid is Still Needed: Here’s How to Get it Where It can Make a Difference

Prosperity Now

Late last month, the Department of Treasury announced that it planned to redirect unallocated Emergency Rental Assistance (ERA) funds from

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Ask a Travel Nerd: How to Stay Up to Date on Foreign Travel Restrictions

Nerd Wallet

According to the International Air Transport Association, 73% of people who have traveled since June 2020 have found it difficult to understand what COVID-related travel rules applied for their trips. There’s no doubt that traveling internationally during the COVID-19 era adds an extra layer of complexity and trip research. You not only need to check.

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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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Am I Too Old to File for Bankruptcy?

Sawin & Shea

Bankruptcy is often a valuable tool for overcoming debts, but it’s not for everyone. The number of individuals filing for bankruptcy has decreased in the last 20 years, but the number of older individuals declaring bankruptcy has increased. One in seven people filing for bankruptcy is older than 65. Many people wonder if they’re too old to declare bankruptcy, but there are no age restrictions for declaring as long as you’re an adult.

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Sole Proprietor vs. Independent Contractor: Which Is Right for Your Business?

Nerd Wallet

Both independent contractors and sole proprietors are self-employed people who haven’t set up formal business entities, like limited liability companies or corporations. They file business taxes using a Schedule C and have to pay self-employment taxes. The difference between the two designations is how they earn income: Independent contractors do specific tasks for clients for.

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Birmingham Business Journal Profiles Denzel Okinedo as NextGEN Law Honoree

Burr Forman

Denzel Okinedo, an honoree of Birmingham Business Journal’s 2021 NextGEN BHM: Law Awards , was featured in a December 6 Q&A by the publication. The award honors the city’s up-and-coming attorneys under the age of 40, with selections based on contributions to the firm, tangible results on their practice areas and involvement in the community. In the Q&A, Okinedo shares that he became a lawyer because he wanted to help people solve problems and to work in a field where he could actively en

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AI Predictions 2022: The Great Humbling of AI

Fico Collections

After several years of trying — and ultimately failing — to live up to boundless hype, artificial intelligence (AI) was, in 2021, deeply humbled in the court of public opinion. Fortunately, data scientists are waking up to the fragility of AI’s decisioning powers and have created compensating controls. These include Auditable AI and Humble AI, and my AI predictions for 2022 are that we will see them formally join Explainable AI and Ethical AI under the umbrella of Responsible AI , the gold stand

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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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Burr Represents Steel Pipe Manufacturer Expanding in Richland County

Burr Forman

Burr represents AMERICAN SpiralWeld Pipe Company, a subsidiary of AMERICAN Cast Iron Pipe Company, in its plans to expand operations in Richland County, South Carolina. The $40 million investment will create 100 new jobs. AMERICAN SpiralWeld Pipe Company manufactures steel pipe in diameters up to 144 inches. Spiral-welded steel pipe applications include transmission, distribution and collection lines for water and wastewater; penstocks; water intakes and outfalls; and structural pilings.

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Federal Reserve Plans to Ramp Up Fight Against Inflation

NACM

Concerns are growing over lingering inflation, prompting the Federal Reserve to consider speeding up its plan to raise interest rates. Federal Reserve officials plan to discuss stopping their bond-buying stimulus program early during a policy meeting next week, according to The Wall Street Journal. Ending the program in March instead of June would.

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The Continuing WOTUS Saga

Burr Forman

On Tuesday, December 7, 2021, the U.S. Environmental Protection Agency and the Army Corps of Engineers published for public comment a proposed rule revising the definition of “Waters of the United States” (“WOTUS”). The agencies indicate the proposal would “meet the objective of the Clean Water Act and ensure critical protections for the nation’s vital water resources, which support public health, environmental protection, agricultural activity, and economic growth across the United States.”.

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USA Debt Collectors can now use Social Media to help recover unpaid debts

UK debt collections

Debt Collectors in the USA have been given the green light to use Social Media to help collect debts. American Debt Collectors will now be able to chase down debtors via direct messages on social media on platforms such as twitter and facebook. New rules given by the Consumer Financial Protection Bureau (CFPB) will see usa debt collectors in America contacting debtors via social media networks.

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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.