Account Recovery

DECEMBER 8, 2020

COLLECTION AGENCIES RECEIVED $422M THROUGH PAYCHECK PROTECTION PROGRAM Nearly 90 companies identifying themselves as collection agencies received more than $1 million in loans through the Paycheck Protection Program, with the top company receiving nearly $9 million, according to an analysis of data released by the Small Business Administration. HOW TO GAUGE THE EFFECTIVENESS OF THE … The post Daily Digest – December 8.

Collection Agencies 246

Collection Agencies Collections Agency Collections Loans 246

American Profit Recovery

DECEMBER 8, 2020

In the not too distant past, a business that hired a collection agency was doing so as a last resort. They had customers that were not paying, they called, sent letters, and decided that the only thing they could do was to get rid of that customer and send them to collections. A far cry from how a collection agency can help a business today. When you use an agency today you should be thinking a little differently about the results you want to gain from that relationship.

Collection Agencies 246

Collection Agencies Collections Agency Collections Original Creditor 246

Account Recovery

DECEMBER 8, 2020

Nearly 90 companies identifying themselves as collection agencies received more than $1 million in loans through the Paycheck Protection Program, with the top company receiving nearly $9 million, according to an analysis of data released by the Small Business Administration. In total, 1,684 companies that identified themselves as collection agencies received funds through the PPP … The post Collection Agencies Received $422M Through Paycheck Protection Program appeared first on AccountsRec

Collection Agencies 246

Collection Agencies Collections Agency Collections Loans 246

Nerd Wallet

DECEMBER 8, 2020

Dine in or order takeout from your local Hyatt hotel’s in-house restaurant and you’ll rack up bonus points toward free hotel rooms. That’s thanks to a promotion in which you can earn roughly 30% of your restaurant bill back in the form of World of Hyatt points. Between now and Feb. 28, World of Hyatt. Sally French is a writer at NerdWallet. Email: sfrench@nerdwallet.com.

116

116

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

DECEMBER 8, 2020

The Consumer Financial Protection Bureau yesterday filed a lawsuit and a proposed stipulated judgment that will result in nearly $85 million in redress and penalties paid by a nationwide mortgage servicing company that was accused of engaging in unfair and deceptive acts when it failed to honor loan modification agreements it had entered into with … The post CFPB, State AGs Reach $85M Settlement With Mortgage Servicer appeared first on AccountsRecovery.net.

Judgment 147

Judgment Loans 147

Account Recovery

DECEMBER 8, 2020

The limited content message. In theory, it sounds like such a great idea. Under the provisions of the debt collection rule from the Consumer Financial Protection Bureau, collection agencies can leave a voicemail for consumers, and as long as certain rules are followed, it will not count as a communication under the Fair Debt Collection … The post How to Gauge the Effectiveness of the Limited Content Message appeared first on AccountsRecovery.net.

Fair Debt Collection 147

Fair Debt Collection Collection Agencies Collections Agency Collections 147

Fico Collections

DECEMBER 8, 2020

Santa Claus is facing a challenge in this pandemic year. Kids worldwide can’t sit on Santa’s lap. Elves are in lockdown and he needs to find new toy sources. Plus with Dancer and Prancer self-isolating, he needs a new way to make his worldwide rounds. This calls for advanced AI and decision management technology – enter FICO! The race is on to keep Santa on schedule. .

Lender 98

Lender Credit Bureau 98

Jimerson Firm

DECEMBER 8, 2020

The Florida Supreme Court has published the proper form to use when seeking a final judgment of foreclosure: Form 1.996(a), Final Judgment of Foreclosure (8-18-20). Form 1.996(a) is incorporated in the Florida Rules of Civil Procedure under Rule 1.900. Pursuant to Rule 1.900(b), the Form may be varied to meet the facts of a particular case, so long as the substance is expressed without prolixity.

Foreclosure 98

Foreclosure Judgment Law Firms Creditor's Rights 98

Nerd Wallet

DECEMBER 8, 2020

When it comes to flexible rewards points, Chase bank’s credit card rewards program, better known as Chase Ultimate Rewards®, is regarded as the gold standard by many points collectors and travelers. With excellent credit card options, powerful points earning opportunities and valuable transfer partners, there are many reasons to love this program. Plus, Chase Ultimate.

95

95

Advertisement

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.

Collections

Consumer Finance

DECEMBER 8, 2020

On December 9, 2020, the Consumer Financial Protection Bureau filed a lawsuit against BounceBack, Inc. for allegedly engaging in deceptive and otherwise unlawful debt collection acts or practices.

Debt collector 83

Debt collector Collections 83

Nerd Wallet

DECEMBER 8, 2020

Refinancing student loans at a lower interest rate can put more money in your pocket. With federal student loan bills restarting soon and refi rates near historic lows, it might seem like the perfect time to take this step. But even if you qualify for refinancing, it won’t always make sense if you have federal. Ryan Lane is a writer at NerdWallet. Email: rlane@nerdwallet.com.

Student loans 89

Student loans Student Loans Loans 89

UK debt collections

DECEMBER 8, 2020

The Financial conduct authority has asked banks, lenders and debt collectors for advice on how to deal with the fall out from emergency Covid-19 loans given out during the pandemic. The FCA is preparing new guidance on how they can help businesses that took out emergency loans during the COVID-19 crisis. The guidance is intended to assist those that may struggle to make repayments.

Collections 72

Collections Lender Loans Debt collector 72

Nerd Wallet

DECEMBER 8, 2020

Shopping for life insurance during the pandemic? Be aware that insurers may have changed their products and policy applications. For the latest information on how to cope with financial stress during this emergency, see NerdWallet’s financial guide to COVID-19. Big data is playing a prominent role in life insurance this year. Interest in coverage has.

73

73

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?

Banks

PDC Flow

DECEMBER 8, 2020

Call Scripting Benefits. Script Limitations. Keep Agents In Control. Call Script Elements. Agent Training. Most agencies use collection call scripts but how do you know you’re getting all you can out of yours? Recently, we reached out to several experts in the industry for their thoughts on call scripting. They discussed the pros and cons of using scripts, elements they should contain and the important link between scripts and better trained agents. “A script streamlines the process for ne

Collections 66

Collections Construction Education Banks 66

Micro Bilt

DECEMBER 8, 2020

During any economic cycle, a certain amount of bad debt is just part of doing business, but in the current economic climate, lending has become more challenging.

Collection Agencies 59

Collection Agencies Collections Agency Collections 59

Nerd Wallet

DECEMBER 8, 2020

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has a $0 annual fee and a straightforward rewards program. Cardholders who are also Bank of America business banking customers can potentially get more value. Here’s how to maximize this credit card. Ways to get the most from your card Earn welcome bonus. Keith M. Rosso is a writer at NerdWallet.

Banks 54

Banks 54

On Guard

DECEMBER 8, 2020

The recession of 2008 put detrimental strain on global businesses, not least accounts receivable departments. Maintaining the smallest DSO levels possible in the last few months of the year became crucial for keeping a sustainable cashflow. With businesses struggling financially, a renewed spotlight of importance was shone on the accounts receivable departments.

Debtor 52

Debtor Collections 52

Advertisement

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.

Collections

Fico Collections

DECEMBER 8, 2020

Every year, the financial technology industry eagerly awaits the Chartis Research RiskTech100. This prestigious ranking of the top 100 players in risk technology is determined by Chartis Research , the leading provider of research and analysis on the global market for risk and finance technology. The report also includes more than 80 category winners.

52

52

Troutman Sanders

DECEMBER 8, 2020

The U.S. Supreme Court heard oral argument today in Duguid v. Facebook to decide, once and for all, whether an automatic telephone dialing system (ATDS), as defined in the Telephone Consumer Protection Act (TCPA), requires a random or sequential number generator. Background. In its late 2018 Marks decision, the Ninth Circuit found that storage of telephone numbers, without random or sequential number generation, was enough to satisfy the first prong of the TCPA’s definition of an ATDS.

Construction 52

Construction Government Collections 52

Better Credit Blog

DECEMBER 8, 2020

Has a new entry from BP SYNCB lowered your credit score? When BP SYNCB winds up on your credit report, it’s most likely as a hard inquiry, which occurs when you apply for new credit cards or loans. In this case, the inquiry is for a BP credit card offered through Synchrony Bank. If you’re worried about the long-term effects of a hard inquiry, want to learn how the BP Synchrony card works, or you don’t know why the inquiry is on your report, read on.

Collection Agencies 52

Collection Agencies Collections Agency Loans Banks 52

Troutman Sanders

DECEMBER 8, 2020

December 14, 2020. 2 – 3pm ET. Regulatory and litigation risk for the consumer reporting industry continues, including a recent uptick in FCRA related cases and the potential surge of COVID-19 related litigation. In this CDIA Law & Industry Conference session— The Changing Dynamics of Litigation and Enforcement —top legal professionals, including Troutman Pepper Partner David Anthony , will explore leading FCRA developments, including key litigation, investigations and enforcement and r

52

52

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.

On Guard

DECEMBER 8, 2020

The recession of 2008 put detrimental strain on global businesses, not least accounts receivable departments. Maintaining the smallest DSO levels possible in the last few months of the year became crucial for keeping a sustainable cashflow. With businesses struggling financially, a renewed spotlight of importance was shone on the accounts receivable departments.

Debtor 52

Debtor Collections 52

Troutman Sanders

DECEMBER 8, 2020

In Gould v. Monarch Recovery Mgmt. , No. 18-C-1282 (E.D. Wis. Nov. 10, 2020), the Plaintiff’s counsel sought $57,073.37 in attorneys’ fees after accepting an offer of judgment as to claims under the Fair Debt Collections Practices Act (“FDCPA”). Finding that counsel had achieved only limited success, the Court reduced the fees requested by fifty percent.

Judgment 52

Judgment Fair Debt Collection Collections 52

Fico Collections

DECEMBER 8, 2020

Santa Claus is facing a challenge in this pandemic year. Kids worldwide can’t sit on Santa’s lap. Elves are in lockdown and he needs to find new toy sources. Plus with Dancer and Prancer self-isolating, he needs a new way to make his worldwide rounds. This calls for advanced AI and decision management technology – enter FICO! The race is on to keep Santa on schedule. .

52

52

Public Citizen

DECEMBER 8, 2020

by Jeff Sovern. WaPo's report is here and HuffPo's here. Paul Krugman in the Times writes about how the GOP doesn't see real problems like climate change, but in this case they see a problem that doesn't exist. UPDATE: The Hill reports here that McConnell has suggested dropping liability protection and state and local funding from the bill.

45

45

Advertisement

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.

Credit Unions