Fri.Nov 06, 2020

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Judge Partially Grants MSJ For Plaintiff in FDCPA Case

Account Recovery

In a case that was spotlighted by Barron & Newburger, a Magistrate Judge in Ohio has granted partial summary judgment in favor of a plaintiff who sued a debt collector for allegedly violating the Fair Debt Collection Practices Act because it did not identify itself as a collector when leaving voicemail messages. A copy of … The post Judge Partially Grants MSJ For Plaintiff in FDCPA Case appeared first on AccountsRecovery.net.

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Time is Money: Quick Debt Collection Tips for Small Business and Startups

Enterprise Recovery

Small businesses and startups must think on their feet, and that includes getting their accounts receivables paid quickly. Business relationships are an integral part of the success and growth of these companies. Protecting these relationships should be a part of the collections process as well. When time is money, here are quick debt collection tips for small businesses and startup companies.

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Appeals Court Overturns Dismissal of FDCPA Overshadowing Case

Account Recovery

The Second Circuit Court of Appeals has overturned a lower court’s dismissal of a Fair Debt Collection Practices Act case in which a defendant was accused of overshadowing the validation notice in a collection letter by telling the letter’s recipient that a lawsuit may be filed against him without any further warning. A copy of … The post Appeals Court Overturns Dismissal of FDCPA Overshadowing Case appeared first on AccountsRecovery.net.

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1 in 6 invoices being paid late according to survey

UK debt collections

1 in 6 Small Business invoices is being paid late according to latest findings in a report conducted by a Business banking company across the UK. ‘Tide’ commissioned YouGov to survey small business decision makers, including sole traders, to discover their payment terms, how often they experience late payments, and the actual duration before invoices were settled.

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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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Daily Digest – November 6. Appeals Court Overturns Dismissal of Overshadowing Case; Appeals Court Grants Request for Publication in BFE Case

Account Recovery

APPEALS COURT OVERTURNS DISMISSAL OF FDCPA OVERSHADOWING CASE The Second Circuit Court of Appeals has overturned a lower court’s dismissal of a Fair Debt Collection Practices Act case in which a defendant was accused of overshadowing the validation notice in a collection letter by telling the letter’s recipient that a lawsuit may be filed against … The post Daily Digest – November 6.

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Appeals Court Grants Request for Publication in FDCPA BFE Case

Account Recovery

The Ninth Circuit Court of Appeals has granted a request for publication and replaced a memorandum of disposition with an opinion, updating the reversal of a lower court’s summary judgment ruling in favor of a defendant that was sued for violating the Fair Debt Collection Practices Act by relying on information it was provided by … The post Appeals Court Grants Request for Publication in FDCPA BFE Case appeared first on AccountsRecovery.net.

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The Upsides to Thinking About When You Will Die

Nerd Wallet

Social Security’s life expectancy calculator predicts I’ll live to about 86. An insurance company’s version says I should expect to die at 98. A longevity calculator created by actuaries demurs, putting the odds at only 32% that I’ll make it to 95. Eventually, I’ll find out which life expectancy calculator was most accurate. In the. Liz Weston is a writer at NerdWallet.

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Coffee Conversation with Elisabeth Doppelhofer on Adecco’s successful approach to its collections during the pandemic, resulting in their healthiest DSO in years

On Guard

Onguard Coffee Conversations – Interview with Elisabeth Doppelhofer, Adecco. Elisabeth Doppelhofer is the Head of Credit at the Adecco Group UK and Ireland. While enjoying a morning cuppa, Floor Stam, VP Marketing at Onguard, interviews Elisabeth on the Adecco Group UK and Ireland’s approach to its collections and customers during the pandemic, and how its resulted in the healthiest DSO the organisation has had in years.

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What Is a Personal Loan?

Nerd Wallet

A personal loan is money borrowed from a bank, credit union or online lender that you pay back in fixed monthly payments, or installments, typically over two to seven years. Though it’s usually best to dip into your savings or emergency fund to cover unexpected expenses, personal loans can be a good option for non-discretionary. Jackie Veling is a writer at NerdWallet.

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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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New FCA Chief warns of Small Business Debt Collection scrutiny

UK debt collections

The new chief of the Financial Conduct Authority issued a warning to banks and commercial lenders this week. The warning shot was issued over the way that banks intend to treat small businesses when recovering state backed loans issued during the pandemic. UK Commercial lenders have given over £40 billion of finance to Small Businesses via the government’s bounce back scheme.

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How to Shop Black Friday Deals Online

Nerd Wallet

Black Friday, which falls on Nov. 27 this year, has evolved from a frenzied one-day store event to an entire season of savings, with nearly all deals available online. Shopping on the web might seem like a hassle-free choice, especially during the pandemic. But your strategy — or lack of one — can still make. Lauren Schwahn is a writer at NerdWallet.

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Back yourself to win – by Sue Chapple FCICM

CICM

6 November 2020. And so here we go again. Another lockdown. Another period of worry, uncertainty and challenge. But also another opportunity for our members to demonstrate their true worth, and the essential role they play in keeping the wheels of industry turning. The messages in our ‘ Managing the new credit future ’ still hold true: we must continue to adjust our collections and recovery strategies to fit the constantly changing financial environment; we must look at our forecasts and project

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Is the United Club Infinite Card Worth Its Annual Fee?

Nerd Wallet

Paying $0 intro for the first year, then $525 a year for an airline credit card might not seem like a great move at first glance. But if you look at the big picture — and fly United Airlines with some regularity — you might find the United Club? Infinite Card is a good value. Megan Lee is a writer at NerdWallet. Email: mlee@nerdwallet.com. The article Is the United Club Infinite Card Worth Its Annual Fee?

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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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Despite Absence of Settlement, Unclaimed Funds To Be Distributed To Government Or Charity Rather Than Revert To Dish Network

TCPA

Last week, the federal judge presiding over a class action against Dish Network (“Dish”) denied a request for reversion of $11 million in unclaimed funds, deciding instead that the funds—which were the product of a trial rather than a settlement—should … Continue reading →

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How to Maximize the American Airlines AAdvantage MileUp Card

Nerd Wallet

American Airlines travelers looking for a no annual fee credit card currently have just one option: The American Airlines AAdvantage MileUp? Card. The card lacks many travel benefits, like free checked bags and priority boarding, yet it offers a few surprisingly valuable mileage-earning and shopping perks. Not all of these benefits are well advertised, so.

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CFPB enters complicated consent order with auto-finance payment firm

Collection Industry News

WASHINGTON, D.C. – . A firm that was supposed to pull funds from contract holders’ bank accounts and deliver the money to auto-finance companies entered into a consent order with the Consumer Financial Protection Bureau this week. And in a twist, the penalties levied by the CFPB against the company might not be completely delivered. Here’s what has happened, according to a news release from the bureau.

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Underrated Reasons To Get a Southwest Rapid Rewards Plus Credit Card

Nerd Wallet

Southwest offers a wide range of credit cards for each type of traveler. Whether you fly once a year or once a week, there’s a Rapid Rewards card that’s right for you. If you’re thinking about applying for the Southwest Rapid Rewards® Plus Credit Card, take a look at the underrated reasons why it can. Jon Nickel-D'Andrea is a writer at NerdWallet. Email: travel@nerdwallet.com.

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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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CFPB Issues Final Rule Clarifying Regulation of Fair Debt Collection Practices

Collection Industry News

On October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) published a long-awaited final rule revising Regulation F, which implements the Fair Debt Collection Practices Act (“FDCPA”) of 1977. Prior to the formation of the CFPB, there was no regulatory body with rulemaking authority over debt collection practices. The CFPB has not taken this responsibility lightly, as it diligently considered over 14,000 comments from debt collectors and other stakeholders during the more than seven

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NerdWallet Cash Back: How It Works With Your Existing Cards

Nerd Wallet

NerdWallet Cash Back takes your existing rewards card and powers even more cash back. It’s a bit like turbocharging your rewards cards. It works on many non-rewards and debit cards, too. Here’s how you can cash in. How to get additional cash back on your credit or debit cards First, sign up for a free. Hal M. Bundrick, CFP is a writer at NerdWallet.

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SEC Adopts Broad Exempt Offering Reforms

Collection Industry News

On November 2, the SEC adopted a series of amendments that will significantly change existing rules governing (1) the integration of offerings, (2) offering/investment limits, (3) communication limitations and (4) eligibility for Regulation Crowdfunding and Regulation A. The amendments will also make various changes that will improve access to offerings under Regulation D, Regulation A and Regulation Crowdfunding.

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Burr’s Denzel Okinedo Appointed to the Alabama State Bar’s Helping Heroes in Healthcare Task Force

Burr Forman

Birmingham Associate, Denzel Okinedo will serve on the new Helping Heroes in Healthcare Task Force for the 2020-2021 year. The Alabama State Bar’s Committees and Task Forces are designed to address the evolving needs of its 18,000+ members and create solutions that improve the lives of its members, their communities and the state as a whole. The Task Force’s members are composed of lawyers from across the state and were appointed to the task force by the Alabama State Bar president.

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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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New York Attorney General Renews Suspension of State Debt Collections

Collection Industry News

New York Attorney General Letitia James has extended the suspension of debt collection for medical and student debt owed to the state of New York through the end of the year, in response to financial impacts resulting from the spread of COVID-19. The suspension applies to medical and student debt that has been specifically referred to the Office of the Attorney General (OAG) for collection, according to a news release from the OAG .

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Ohio District Court Holds TCPA Unenforceable From 2015 Through 2020

Burr Forman

Lidenbaum v. Realgy, LLC , 2020 WL 6361915 (N.D. Ohio Oct. 29, 2020). Pending before the Court was a class action lawsuit, contending Defendants violated the Telephone Consumer Protection Act, 47 § U.S.C. 227 (“TCPA”). Defendants filed a Motion to Dismiss under Fed.R.Civ.P. 12(b)(1), contending that the Court lacked subject matter jurisdiction over Plaintiffs’ claims because they arose during a time that the TCPA included a “government-debt” exception, which exempted calls made to collect a debt

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Washington Collection Agency Licensing Board Sets Nov. 3. Special Meeting on Remote Work Rule

Collection Industry News

The Washington State Collection Agency Licensing Board (CAB) will hold a special meeting on Nov. 3 to review language in its permanent rule on remote work for licensed collection agencies. The permanent rule language, with input from ACA International staff and members, was discussed by the CAB’s Rule Committee Oct. 29. The meetings are open to the public via Zoom to allow any individual to observe the proceedings and provide comments or questions at the end of each committee meeting.

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How the Pandemic Has Impacted Delinquency

Click Notices

The COVID-19 pandemic has altered everyone’s lives, causing nearly every industry to adapt to a new normal. The rental industry has been no exception. As a response to the nation’s climbing unemployment rate, several states implemented an eviction moratorium at the onset of the pandemic to protect renters unable to pay their monthly rent. Most recently, the CDC issued a federal eviction moratorium through the end of 2020.

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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.