Wed.May 25, 2022

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Daily Digest – May 25. Appeals Court Overturns Ruling Over ‘This is An Attempt to Collect’ Disclosure; Suit Filed Claiming Debts Were Covered by Worker’s Compensation

Account Recovery

APPEALS COURT OVERTURNS RULING OVER ‘THIS IS AN ATTEMPT TO COLLECT’ DISCLOSURE IN STATEMENT This is one of those cases where I am going to remind everyone that I am not a lawyer and I could be completely off-base, but as I read this ruling, I thought it offered an interesting lesson that putting the … The post Daily Digest – May 25.

Lawyers 246
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Our debt collection team feels a purpose

American Profit Recovery

There are so many important aspects when it comes to building a thriving organization. There are the obvious parts of a business such as creating a great product or service, pricing and marketing those appropriately, finding your target market and so much more. But building a sustainable company also involves having the right team that can move things forward on a consistent basis.

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Complaint Accuses Creditors, Agency of Attempting to Collect Debts Covered by Worker’s Compensation

Account Recovery

A complaint has been filed in federal court in California accusing a number of healthcare providers and a collection agency of violating state law as well as the Fair Debt Collection Practices Act by attempting to collect on a debt that was incurred as a result of injuries suffered while the plaintiff was working and … The post Complaint Accuses Creditors, Agency of Attempting to Collect Debts Covered by Worker’s Compensation appeared first on AccountsRecovery.net.

Creditors 246
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The Monetization Of Intellectual Property In Bankruptcy And Restructuring

In the Red

ABI Panel. Last month I had the honor of speaking on a panel at the American Bankruptcy Institute’s 2022 Annual Spring Meeting in Washington, D.C. The topic of our panel was the Monetization of Intellectual Property in Bankruptcy and Restructuring. I was joined by four distinguished panelists, Leslie Zmugg, General Counsel of Gordon Brothers (who was our moderator); Arthur Daemmrich, the Jerome and Dorothy Lemelson Director at the Lemelson Center for the Study of Invention and Innovation at the

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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 Overturns Ruling Over ‘This is an Attempt to Collect’ Disclosure in Statement

Account Recovery

This is one of those cases where I am going to remind everyone that I am not a lawyer and I could be completely off-base, but as I read this ruling, I thought it offered an interesting lesson that putting the mini-Miranda on every communication might not be the best idea. The Court of Appeals … The post Appeals Court Overturns Ruling Over ‘This is an Attempt to Collect’ Disclosure in Statement appeared first on AccountsRecovery.net.

More Trending

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CFPB Reorganizes and Launches New Office to Promote Competition and Innovation

Account Recovery

The Consumer Financial Protection Bureau yesterday announced it was replacing its Office of Innovation with a new Office of Competition and Innovation that aims to “spur” innovation in the financial services industry by promoting competition and making it easier for “new market entrants.” The Office of Innovation was created back in 2018 under former Acting … The post CFPB Reorganizes and Launches New Office to Promote Competition and Innovation appeared first on Ac

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5 Ways to Prepare for Better Interest Rates in Savings Accounts

Nerd Wallet

The Federal Reserve has raised its rate twice in 2022 and has said additional bumps are likely. These changes are designed to wrestle inflation down to manageable levels, but they have ripple effects in other areas of the economy — with mortgage rates and credit card interest rates heading up and the stock market moving. Kurt Woock writes for NerdWallet.

Banks 97
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26 Companies Looking for Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant … The post 26 Companies Looking for Collection Talent appeared first on AccountsRecovery.net.

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Kids’ Banking App Greenlight to Launch Family Cash Card for Parents

Nerd Wallet

Greenlight, a financial technology company offering a banking app and debit card for kids and teens to use with a parent’s oversight, is creating a credit card for parents who want to use earned rewards to invest for the future. Greenlight’s Family Cash Card — issued by First National Bank of Omaha — won’t be. Sara Rathner writes for NerdWallet. Email: srathner@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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Number of Businesses going bust doubles in 2022

UK debt collections

Businesses going bust and company insolvencies are at more than double their 2021 levels for the second consecutive month warns a leading Trade body. Alarming figures for April published by the Insolvency Service for England and Wales show a 115 per cent rise on April 2021. The figure for March was a staggering 111 per cent up when compared with March 2021.

Trade 59
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How to Finance a Business Purchase

Nerd Wallet

Not all new business owners’ journeys start from nothing — some entrepreneurs buy an existing small business instead. You can finance a business purchase with a loan from a variety of lenders, including traditional banks, online lenders and the Small Business Administration. And if the existing business is already successful, applying for financing could be.

Lender 87
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Limited Liability Partnerships: Everything You Need To Know

Hudson Weir

If you’re looking for information on limited liability partnerships (LLPs), you’re in the right place. Our team of highly qualified Chartered Accountants and Qualified Insolvency Practitioners are true business experts. When it comes to setting up and running businesses and, naturally, steering them through troubled times, we are well placed to advise on the pros and cons of LLPs.

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Commercial Construction Loans: What They Are and Where to Get One

Nerd Wallet

A commercial construction loan is a kind of business loan that helps your company cover the costs associated with building or renovating structures. You can use these construction business loans to purchase land, buy materials and pay workers. A commercial construction loan can help you keep your balance sheet manageable during a build, since lenders.

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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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Joint Chiefs of Global Tax Enforcement Issues Risk Indicators to Detect Illicit Financial Activity Involving NFTs

Troutman Sanders

On April 28, the Joint Chiefs of Global Tax Enforcement (the J5), a global joint operational taxation group consisting of Australia, Canada, Netherlands, United Kingdom, and the United States, issued an intelligence bulletin (Bulletin), enumerating its perceived dangers of non-fungible tokens (NFTs). NFTs, ERC-20, and Fungibility. Cryptocurrencies and NFTs are similar in the sense that the fundamental composition of both tokens is simply encrypted data that lives on the blockchain.

Trade 52
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How to Cancel a Pending Credit Card Transaction

Nerd Wallet

One advantage of using credit cards is the delay when you pay. Your money isn’t immediately transferred to the seller. Part of that lag time is when the charge has been authorized but is still “pending,” meaning the transaction has not yet been finalized or posted. That limbo status means you have a time window, Gregory Karp writes for NerdWallet. Email: gkarp@nerdwallet.com.

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California Updates Debt Collectors on Processing Delays

Troutman Sanders

On May 23, California’s Department of Financial Protection and Innovation (DFPI or Department) sent an email notifying license applicants and prospective license applicants that the issuance of licenses under the Debt Collection Licensing Act is unavoidably delayed at this time. The original deadline for applicants was December 31, 2021; however, that deadline was extended to March 15 in mid-December.

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2022 Is the Year of All-Inclusive Travel, and Here’s Why

Nerd Wallet

For some travelers, all-inclusive hotels conjure up images of flavorless food served under a heat lamp in lush and vibrant destinations where guests never actually leave the resort grounds. Lower-tier liquor flows freely (the good stuff will cost you more), as the few overindulgers put a damper on the trip. That image is changing, as. Sally French writes for 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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Pourquoi adopter l’utilisation d’un outil I&E (Emplois & Ressources)

Qualco

L'utilisation de l'outil I&E (Income & Expenditure en anglais, c'est à dire Emplois & Ressources) en matière de restructuration de créances est très répandue dans plusieurs pays européens, mais reste toujours limitée en France. Il est vrai que dans certains pays (Royaume-Uni, Grèce) le cadre réglementaire exige l'utilisation d'un tel outil par les Banques, ou même par tout autre acteur offrant des plans de paiement de créances, telles que les sociétés de recouvrement.

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For New Meat-Free Meal Options, 1 U.S. Airline Hits the Spot

Nerd Wallet

Many airline passengers seek plant-based meal options, whether for ethical or environmental reasons — or to avoid a rubbery, reheated chicken breast. According to a 2020 Gallup poll, 23% of Americans claimed to be cutting back on meat in the past year. So it’s not just dedicated vegetarians and vegans who could be looking for. Sam Kemmis writes for NerdWallet.

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Open Banking in debt collections: The data-fueled future is here

Qualco

Open Banking has been in the public eye for some time now. Despite the general need for change from the creditor's side, the pandemic played a catalyst role. The increased demand for digitisation acted as an enabler to the Open Banking era. While in its infancy, open banking reached 5 million users in 2022, with a 25% percent increase only from the previous year.

Banks 52
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Finding a Second-Chance Auto Loan

Nerd Wallet

Ads for “second-chance auto loans” may catch your attention if you need to buy a vehicle and have bad credit, past bankruptcy or previous car repossession. That’s especially true if your goal is to mend your credit. The term “second-chance” implies that making on-time loan payments could offer a fresh start. But you should be. Shannon Bradley writes for NerdWallet.

Loans 72
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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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Report: "Vets, Servicemembers Harmed by TAB Bank and EasyPay Finance’s Predatory Loans"

Public Citizen

The lending practices of EasyPay Finance and Utah-based Transportation Alliance Bank (TAB Bank) are hurting military servicemembers, veterans, and their families, according to a new report from a coalition of consumer advocacy groups released in advance of Memorial Day. The report is here.

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The Guide to Citi Transfer Partners

Nerd Wallet

Are you trying to figure out how to spend your hard-earned Citi ThankYou points? Of course, you can always redeem them for gift cards or statement credits, but the best way to use them — by far — is to move them over to one of Citi’s transfer partners. With 16 hotel and airline partners. Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com.

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Stagflation Could Be Ahead for US Economy

NACM

Stagflation occurs when increasing prices and slowing economic growth occur at the same time. Inflation is currently sitting near a 40-year high, but economic growth is still fairly healthy and the unemployment rate is low.However, the Federal Reserve is playing a risky game of raising interest rates, which could send the U.S. economy into a 1970's.

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Air France Premium Economy Overview

Nerd Wallet

No one likes flying in economy, but most of us can’t afford to splurge on a seat up front. Airlines have recognized our dilemma — and the desire for more legroom — and their answer to this is premium economy. What is Air France premium economy? Not quite economy, not quite business class, this product. Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com.

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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.