Account Recovery
FEBRUARY 13, 2024
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?
Qualco
FEBRUARY 13, 2024
NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.
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Account Recovery
FEBRUARY 13, 2024
Collector Sued for Withdrawing Funds Without Consent Judge Grants MSJ for Defendant in FDCPA Jurisdiction Case New Filing Seeks to Settle Collector Data Breach Case for $2.
Jimerson Firm
FEBRUARY 13, 2024
Business Interruption Insurance Owning a business has many perks but can also be very unpredictable. A common trait many successful business owners share is the ability to plan for the future. Business interruption insurance is one tool in the tool chest that can help business owners protect themselves from unforeseen circumstances that they could not have predicted and provide financial stability in the midst of uncertainty.
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
FEBRUARY 13, 2024
A District Court judge in Kentucky has granted a defendant’s motion for summary judgment in an “inside baseball” type of case involving the plaintiff moving from one state to another and then the judge having to determine which state’s statute of limitations applied when the defendant filed a collection lawsuit to recover the unpaid debt.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
FEBRUARY 13, 2024
Having addressed the deficiencies raised by the judge, the plaintiff’s in a data breach class-action against a collection operation have filed a renewed motion for approval of a settlement that will see the collector pay $2.45 million to settle the claims against it.
Troutman Sanders
FEBRUARY 13, 2024
On February 6, a bill was introduced to the Illinois House of Representatives seeking to amend the Illinois Dental Practices Act to add provisions related to third-party financing for dental services. Specifically, House Bill (HB) 4891 mandates that a dentist or their employee must provide a patient with a written treatment plan, including a description of each anticipated service and a good faith estimate of expected charges before arranging for, offering, brokering, or establishing open-end cr
Account Recovery
FEBRUARY 13, 2024
The financial landscape has undergone a digital metamorphosis, placing consumer financial literacy at the forefront of effective debt collection strategies. Based on a recent Capital One Insights Center study, debt collectors can use the data to better understand consumer behavior and tendencies in this evolving environment.
Troutman Sanders
FEBRUARY 13, 2024
In Perrong v. Chase Data Corp., et al. , a court in the Eastern District of Pennsylvania recently ruled that no personal liability attaches to the owner of a company for Telephone Consumer Protection Act (TCPA) violations. The case arose out of the defendant companies selling “turnkey” calling and texting services. The defendants allegedly sent three text messages to the plaintiff asking him to call a number to discuss potential injuries and possible compensation.
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Collection Industry News
FEBRUARY 13, 2024
WASHINGTON — The U.S. Department of the Treasury is offering $121 billion of Treasury securities to refund approximately $105.1 billion of privately-held Treasury notes maturing on February 15, 2024. This issuance will raise new cash from private investors of approximately $15.9 billion. The securities are: A 3-year note in the amount of $54 billion, maturing February 15, 2027; A 10-year note in the amount of $42 billion, maturing February 15, 2034; and A 30-year bond in the amount of $25 billio
Troutman Sanders
FEBRUARY 13, 2024
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 February 8, the Consumer Financial Protection Bureau (CFPB) announced the resolution of an enforcement action, begun in 2014, against a foreclosure relief operation that allegedly violated Regulation O.
BN Lawyers
FEBRUARY 13, 2024
Here’s the latest risk management guidance, published in December 2023, from B&N’s Attorneys Risk Management practice group. BN – Tip of the Month – Corporate Transparency Act Effective January 1, 2024 – Dec 2023 The post Barron & Newburger’s Latest Risk Management Guidance appeared first on Barron & Newburger, P.C.
Troutman Sanders
FEBRUARY 13, 2024
Join us for an enlightening episode of The Consumer Finance Podcast, where we dissect the intricate world of debt collection, reflecting on the past year and forecasting future trends. This episode, hosted by Chris Willis, features insightful discussions with Stefanie Jackman and Jonathan Floyd, both well-versed in the field of debt collection. We explore significant Supreme Court cases that could reshape the collections landscape, the impact of Regulation F on validation notices, and the comple
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?
BN Lawyers
FEBRUARY 13, 2024
Legal Alert: New Reporting Rule New year, new you? No! New year, new regulations! Beginning January 1, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) Corporate Transparency Act (CTA) requires that certain entities report their Beneficial Owners’ Information (“BOI”) to FinCEN. In addition, reporting entities must also disclose information about those persons that file or direct the filing for the formation of the entity.
NACM
FEBRUARY 13, 2024
Your success can be measured by a multitude of factors: your desire, how big your goals are and how you bounce back from adversity are just a few to name. But in the B2B credit world, credit professionals' success can be measured through educational goals—pushing their career goalpost even further. Dan Erickson, CBA, collections representative at D.
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