Account Recovery
DECEMBER 5, 2024
A state Appeals Court in Wisconsin has affirmed the certification of a class in a Fair Debt Collection Practices Act case, agreeing with the lower court that the plaintiff’s claims were not mooted by an offer of individual relief made by the defendant. The background: The defendant sent the plaintiff a collection letter back in 2021, attempting to collect a debt owed to a third party.
Consumer Finance
DECEMBER 5, 2024
The CFPB sued Comerica Bank for systematically failing its 3.4 million Direct Express cardholders - primarily unbanked Americans receiving federal benefits.
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Account Recovery
DECEMBER 5, 2024
The Office of the Comptroller of the Currency (OCC) has issued an updated version of its guidance on unfair or deceptive acts or practices (UDAP) and unfair, deceptive, or abusive acts or practices (UDAAP), titled the “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices” booklet of the Comptroller’s Handbook.
On Guard
DECEMBER 5, 2024
While fewer than 20% of strategic decisions currently leverage AI in the Dutch finance sector, this figure is projected to surge to nearly 50% within the next five years. This is according to the latest Deloitte CFO Survey , based on a sample of over 130 Dutch CFOs from various sectors. The popularity of AI has surged with tools like ChatGPT, highlighting its ability to streamline work processes for some time now.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
Account Recovery
DECEMBER 5, 2024
I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
On Guard
DECEMBER 5, 2024
While fewer than 20% of strategic decisions currently leverage AI in the Dutch finance sector, this figure is projected to surge to nearly 50% within the next five years. This is according to the latest Deloitte CFO Survey , based on a sample of over 130 Dutch CFOs from various sectors. The popularity of AI has surged with tools like ChatGPT, highlighting its ability to streamline work processes for some time now.
Collection Industry News
DECEMBER 5, 2024
Despite Fed Cuts, Many Store Credit Cards Are Still Charging Customers Extreme Interest Rates Many credit cards offered by major retailers continue to charge exorbitant annual percentage rates, despite moves by the Federal Reserve to lower interest rates in the economy. In a report released Wednesday, the Consumer Financial Protection Bureau found that 19% of retail cards had APRs above 35%.
Account Recovery
DECEMBER 5, 2024
Getting to Know Angela Becker of Denali Capital Debt Relief Company, Owner Banned from Industry as Part of Settlement with CFPB Wisconsin Appeals Court Affirms Class Certification in FDCPA Case OCC Updates UDAP, UDAAP Handbook WORTH NOTING: What a daily dose of dark chocolate may reduce your risk of … Another frequent debate in the Gibb household — the value of “best by” dates on food … A list of the 10 best movies of 2024 and I haven’t seen any of them …
The Kaplan Group
DECEMBER 5, 2024
A new study by The Kaplan Group , a commercial collection agency, examines subscription saas companies are doing on collection against accounts receivables from 2020 to 2024, revealing significant shifts in payment patterns and operational efficiency. The software as a service industry’s financial health can be effectively gauged through its payment collection efficiency, particularly through metrics such as Days Sales Outstanding (DSO) and Accounts Receivable to Revenue ratios.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Account Recovery
DECEMBER 5, 2024
The Consumer Financial Protection Bureau yesterday announced an enforcement action against Student Loan Pro and its owner, Judith Noh, that will see them both permanently banned from offering or providing any consumer financial products or services after they were accused of charging borrowers illegal upfront fees for accessing free debt-relief programs.
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