Wed.Nov 22, 2023

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What Your Peers are Thankful For This Holiday Season

Account Recovery

In yesterday’s Daily Digest, I asked people to send me a note to share what they are thankful for and a number of you responded. So right off the bat, I am thankful for that.

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Are your Recurring ACH Payments Compliant?

PDC Flow

Many consumers prefer to pay large bills in installments through ACH payments rather than a credit card. Offering this option in your business will decrease consumer complaints and increase your overall receivables. But just as with cards, it’s important to ensure the recurring ACH payments you accept are compliant. Understanding Recurring ACH Payment Compliance Complying with every regulation that applies to your business can get tricky.

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Forest Recovery Services Sees 10X Jump in Outbound Collection Calls with Skit.ai’s Voice AI Platform

Account Recovery

The collection agency also reported a 160% increase in collections with one portfolio thanks to Skit.ai’s conversational AI platform. NEW YORK, NY (November 22, 2023) – Skit.

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Florida Senator Introduces Bill Regulating Bank Model Lending and Loan Programs Based on Voluntary Tips

Troutman Sanders

On October 9, a Florida state senator introduced SB 146 , which would add a new section to the Florida Consumer Finance Act (CFA), attempting to curb evasion of the CFA. SB 146 would treat all payments incident to the loan as interest, even if voluntary, and would adopt both predominant economic interest and totality of the circumstance tests for true lender purposes.

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Guide to Business Writing

Everything you need to know about better business writing in one place. This is a complete guide to business writing — from a clear business writing definition to tips on how to hone your business writing skills.

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19 Companies Seeking Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

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Appeals Court Overturns FDCPA Ruling

Account Recovery

The Court of Appeals for the Ninth Circuit has overturned a lower court’s ruling in a Fair Debt Collection Practices Act case that has to do with judgments and a legal principal that aims to keep federal courts out of issues that were already dealt with in state court.

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CFPB Proposes New Federal Oversight of Big Tech Companies and Other Providers of Digital Wallets and Payment Apps

Collection Industry News

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) is proposing to supervise larger nonbank companies that offer services like digital wallets and payment apps. Driven largely by Big Tech and other large technology firms, digital payment apps and wallets continue to grow in popularity, but many of the companies are not subject to CFPB supervisory examinations.

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Online Training Company Sued by CFPB, State AGs for Illegal Collection Activities to Close, Will Forfeit $30M in Unpaid Loans

Account Recovery

The Consumer Financial Protection Bureau and 11 states announced earlier this week that an online training company will close its doors and provide $30 million in relief to student borrowers, in part because of abusive debt collection practices that it deployed when individuals were unable to make their payments.

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Daily Digest – November 22. What Your Peers are Thankful For This Holiday Season; Appeals Court Overturns FDCPA Ruling

Account Recovery

What Your Peers are Thankful For This Holiday Season Appeals Court Overturns FDCPA Ruling Online Training Company Sued by CFPB, State AGs for Illegal Collection Activities to Close, Will Forfeit $30M in Unpaid Loans 19 Companies Seeking Collection Talent Forest Recovery Services Sees 10X Jump in Outbound Collection Calls with Skit.

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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.