Tue.Jul 18, 2023

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Collector Facing Class Action for Allegedly Not Honoring Terms of Settlement

Account Recovery

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?

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CFPB Sues Snap Finance for Illegally Luring Americans into Expensive Financing and Bullying Borrowers Using False Threats

Consumer Finance

The CFPB sued lease-to-own finance company Snap Finance for deceiving consumers, obscuring the terms of its financing agreements, and making false threats.

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Appeals Court Overturns FCRA Ruling

Account Recovery

The Court of Appeals for the Second Circuit has vacated a ruling and remanded a Fair Credit Reporting Act case back to the District Court, determining that there is no difference whether an alleged inaccuracy in a consumer’s credit report was “legal” and therefore not within the court’s jurisdiction — if an inaccuracy is objectively […]

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NYC Debt Collection for Freelancers: Double Recovery

FFGN COLLECT NY

New York City affords freelance workers extra protection against unsavory employers when it comes to debt collection. New York City’s administrative code Title 20 awards double damages plus more to freelancers who meet the criteria and follow the process for filing non-payment debt collection claims. Who Benefits From Title 20? You will need to determine whether you meet the requirements to proceed under the city code to avail yourself of the recovery and additional penalty of $250 allowab

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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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How to Effectively Manage Your Team for Peak Performance

Account Recovery

Race cars, Power Rangers, there are a number of different analogies and examples that can be used to describe how all of the employees inside a collection operation need to be performing together for the operation to be successful.

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Judge Approves Settlement in FDCPA Case

Account Recovery

A District Court judge in Indiana has preliminarily approved a settlement in a Fair Debt Collection Practices Act case over letters that allegedly threatened or implied that litigation may be instituted against the plaintiff when the defendant had no plans to take such action. A copy of the order in the case of Hollins v.

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EIN Number Lookup: How to Find Your Employer Identification Number

Payment Savvy

Knowing your Employer Identification Number is essential for many different reasons. However, many employers struggle with EIN number lookup. In this article, we’ll take a closer look at what the EIN is and offer a few suggestions about how you can find yours. What is an Employer Identification Number (EIN)? An employer identification number, or EIN, is a unique, nine-digit number issued by the Internal Revenue Service (IRS).

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Daily Digest – July 18. Collector Facing Class Action for Allegedly Not Honoring Terms of Settlement; Appeals Court Overturns FCRA Ruling

Account Recovery

Collector Facing Class Action for Allegedly Not Honoring Terms of Settlement Appeals Court Overturns FCRA Ruling How to Effectively Manage Your Team for Peak Performance Supreme Court Sets Date for Arguments in CFPB Funding Case Judge Approves Settlement in FDCPA Case WORTH NOTHING: Another reason why you shouldn’t have more than one kid … The […]

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Member Spotlight: My First Credit Congress

NACM

NACM's 127th Credit Congress provided an opportunity for credit professionals to experience educational sessions, networking and fun! Several attendees were present as first-timers this year in Grapevine, TX."Credit congress really exceeded my expectations," said Araceli Magana, CBA, credit analyst at Joseph T Ryerson & Son, Inc. (Vernon, CA).

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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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Supreme Court Sets Date for Arguments in CFPB Funding Case

Account Recovery

The Supreme Court released the equivalent of its game schedule for the 2023-24 term last week and is starting the season off with a banger.