Account Recovery

MARCH 14, 2022

A pair of lawsuits that have been filed against different collection agencies highlights an interesting trend that has occurred in a number of cases involving alleged violations of Regulation F — specifically situations where a plaintiff’s claims relate to incidents or events that took place before November 30, 2021, when the rule went into effect. … The post Plaintiff Files Reg F, FDCPA Lawsuits Alleging Violations of Rule Months Before it Went Into Effect appeared first on Ac

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Collection Agencies Collections Agency Collections 243

Nerd Wallet

MARCH 14, 2022

In the midst of pandemic recovery, small businesses are feeling the weight of yet another economic setback: inflation. According to the U.S. Chamber of Commerce’s Q4 2021 Small Business Index survey, 71% of owners report that rising prices have had a significant impact on their business in the past year. And economists agree that this high. Randa Kriss writes for NerdWallet.

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Troutman Sanders

MARCH 14, 2022

On March 11, Britain, Canada, France, Germany, Italy, Japan, and the United States (collectively, the G7) announced more sanctions against Russia, including first-time sanctions specific to virtual assets. The White House also announced that the Department of the Treasury would issue “new guidance [that] will continue to make clear that Treasury’s expansive actions against Russia require all U.S. persons to comply with sanctions regulations regardless of whether a transaction is denominated in t

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Financial Institution Banks Collections 52

Nerd Wallet

MARCH 14, 2022

In a given year, you likely have expenses that you know are coming — holiday gifts, the family vacation you take every summer, annual homeowners association fees or maybe membership renewals. But just because these costs are predictable doesn’t mean you’re always prepared. If you are pulling from your emergency fund or using a credit. Amanda Barroso writes for NerdWallet.

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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.

Troutman Sanders

MARCH 14, 2022

On February 25, the Utah Senate passed the Utah Consumer Privacy Act (the UCPA), which closely resembles both the Virginia Consumer Data Protection Act (the VCDPA) and the Colorado Privacy Act (the CPA). The House unanimously passed the bill on March 2. The bill now goes to Governor Spencer Cox, who has 20 days to sign or veto it. If signed, Utah would be the fourth state to pass a comprehensive privacy bill after California, Virginia, and Colorado.

Government 52

Government Collections 52

Public Citizen

MARCH 14, 2022

Alexi Pfeffer-Gillet of Maryland has written  Unfair by Default: Arbitration's Reverse Default Judgment Problem. Here's the abstract: It is a foundational principle of civil law that a defendant who fails to respond to claims against it is deemed to have admitted those claims and can be subjected to default judgment liability. The threat of default judgment incentivizes defendants to respond to claims, thereby preventing delay tactics and helping ensure cases are resolved efficient

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Judgment 45

Nerd Wallet

MARCH 14, 2022

The Federal Reserve is expected to raise interest rates this week, with additional hikes likely throughout 2022. Small-business owners could feel the impact of those rate increases with more expensive loans, higher credit card costs and slower business growth as the Fed works to cool the economy. While benchmark rates will still be relatively low. Kelsey Sheehy writes for NerdWallet.

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Loans 83

Consumer Finance

MARCH 14, 2022

Deputy Director Zixta Martinez’s remarks at the NAHREP’s Convention & Housing Policy Summit.

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Nerd Wallet

MARCH 14, 2022

So much has changed in the hotel industry during the pandemic, like cleaning protocols and booking flexibility. Yet one element has been especially volatile and difficult to track — prices. The cost of booking a hotel room plummeted in the early stages of the pandemic when nobody was traveling, then inched back up, and now? We. Sam Kemmis writes for NerdWallet.

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Collections

Collection Industry News

MARCH 14, 2022

Souce- site. STATEN ISLAND, N.Y. — The cost of living for Americans has become increasingly expensive, with rising prices at the gas pump, in the food store, and just about everywhere else. So it’s no surprise that U.S. consumers racked up their credit card debt in 2021. Credit card debt rose last year by $74.1 billion during the fourth quarter, resulting in a net increase of $87.3 billion, according to a study by the financial website WalletHub.

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Credit Card Debt Collections 40

Nerd Wallet

MARCH 14, 2022

Running a small business on the Android operating system can sometimes limit what you can do, but finding a good credit card reader isn’t an area where you need to settle. Several companies now offer sleek designs with competitive processing rates and useful point-of-sale, or POS, software to help businesses grow in their markets. Here. Whitney Vandiver writes for NerdWallet.

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Collection Industry News

MARCH 14, 2022

Source- site. Securities and Exchange Commission Chair Gary Gensler delivered his remarks on Thursday March 10 before the Investor Advisory Committee that was devoted to the use of artificial intelligence in robo-Advisory services and cybersecurity disclosures. . Gensler, who has previously raised concerns about predictive AI in online brokers and robo-advisors during a Practicing Law Institute conference in October 2021, reiterated the important challenges that these practices may bring, namel

Banks 40

Banks Trade Financial services Loans 40

Nerd Wallet

MARCH 14, 2022

Credit card travel portals, like the AmEx or Chase travel portal, occupy a somewhat obscure corner of the rewards world. Unless you’re a true points and miles obsessive, you’re probably only familiar with one or two of these travel search tools. And even then, you might not be sure when you need to book through. Sam Kemmis writes for NerdWallet. Email: skemmis@nerdwallet.com.

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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

Collection Industry News

MARCH 14, 2022

Source- site. Connecticut regulators have opened an investigation into wage garnishment and payment demands by United Illuminating and Eversource of their customers during the pandemic despite a shut-off moratorium for nonpayment. Pictured here in 2018, a line crew for United Illuminating works to reattach an electrical cable in North Haven. (David Moran / Hartford Courant).

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Garnishment Collections Government 40

Nerd Wallet

MARCH 14, 2022

March 2022 – Huntington Bank Announces Overdraft Fee Reduction Starting July 2022 On March 8, Huntington Bank said it would be reducing its $36 overdraft fee to $15 beginning July 2022. Huntington Bank also currently has a policy of not charging overdraft fees when a customer overdrafts by $50 or less. If a customer does. Chanelle Bessette writes for NerdWallet.

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Banks 73

Collection Industry News

MARCH 14, 2022

Source- site. In its ongoing lawsuit against the National Collegiate Student Loan Trust (NCSLT), the Consumer Financial Protection Bureau (CFPB) has asked a federal court to deny the NCSLTs petition to appeal an earlier decision that would allow them to be considered “covered persons”. The CFPB made its request on March 3, saying the debate is not an “exceptional issue justifying review prior to entry of a final judgment,” the CFPB response said.

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Student loans Student Loans Loans Judgment 40

Nerd Wallet

MARCH 14, 2022

Why are Capital One rewards called “miles” instead of “points,” even though they’re earned by spending with Venture cards rather than by flying? Nobody knows. But we do know how much they’re worth. Based on our analysis, Capital One miles are worth from 1 cent to 1.8 cents each, depending on how they’re used. Why. Sam Kemmis writes for NerdWallet. Email: skemmis@nerdwallet.com.

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Collections

Collection Industry News

MARCH 14, 2022

Source- site. At last count, at least 39 states have introduced (or passed) comprehensive privacy legislation. After what was previously a watch-and-wait game of legislative whack-a-mole, we are now seeing this legislation get passed and implemented more regularly and with greater speed. Case in point, within two months of entering the new year, Senate Bill 227, titled the Utah Consumer Privacy Act (UCPA), passed both houses of the Utah Legislature and is now awaiting signature from Utah Gov.

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Financial Institution Collections 40

Nerd Wallet

MARCH 14, 2022

Capital One’s premium credit card offering made waves when it launched in late 2021 because of its competitively low annual fee and its best-in-class perks for cardholders — and their authorized users. Let’s take a look at these benefits as well as how to maximize the Capital One Venture X Rewards Credit Card. Ways to. Carissa Rawson writes for NerdWallet.

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Troutman Sanders

MARCH 14, 2022

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge.

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Financial services Banks Trade Government 52

Nerd Wallet

MARCH 14, 2022

Toast combines many of the systems needed to run a restaurant — including a point-of-sale system, payment processing and online ordering — into a single platform. While many competitors offer similar combined services, the platform stands out for making software and hardware exclusively for restaurants. » MORE: Read NerdWallet's in-depth review of Toast Toast is.

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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.

Collection Industry News

MARCH 14, 2022

Source- site. A&B ABstract : On February 24, Governor Kathy Hochul signed into law Assembly Bill 8771 (2022 N.Y. Laws 48) , amending single point of contact requirements for certain delinquent borrowers. What changes does the measure require for servicer protocols? New York SPOC Requirements : As created effective January 2, 2022 , Section 6-o of the New York Banking Law required a lender to provide a single point of contact (“SPOC”) to a borrower who: (a) is 60 or more days delinquent on

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