Wed.May 04, 2022

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Daily Digest – May 4. Complaint Accuses Collector of Omitting Itemization Info; Medical Debt Bill in Colo. One Step From Becoming Law

Account Recovery

COMPLAINT ACCUSES COLLECTOR OF VIOLATING REG F BY OMITTING ITEMIZATION INFO A lawsuit has been filed in federal court in Texas accusing a collector of violating the Fair Debt Collection Practices Act and Regulation F by not including the itemization information required in an initial collection notice that was sent to the plaintiff. WASH. APPEALS … The post Daily Digest – May 4.

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CFPB Orders Bank of America to Pay $10 Million Penalty for Illegal Garnishments

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) finalized an enforcement action against Bank of America for processing illegal, out-of-state garnishment orders against its customers’ bank accounts.

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26 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. This is merely meant … The post 26 Companies Seeking Collection Talent appeared first on AccountsRecovery.net.

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Worrying About the Fed’s Latest Interest Hike? Do This Instead

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. If you’re concerned because the Federal Reserve just raised interest rates again: Take a minute to get some perspective.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Wash. Appeals Court Affirms Dismissal of FDCPA Suit Against Creditor

Account Recovery

An Appeals Court in Washington state has upheld a lower court’s dismissal of a Fair Debt Collection Practices Act case that accused a creditor of violating the statute by attempting to collect in a name different than its own. A copy of the ruling in the case of Morgan v. Bank of America can be … The post Wash. Appeals Court Affirms Dismissal of FDCPA Suit Against Creditor appeared first on AccountsRecovery.net.

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Complaint Accuses Collector of Violating Reg F By Leaving out Itemization Info

Account Recovery

A lawsuit has been filed in federal court in Texas accusing a collector of violating the Fair Debt Collection Practices Act and Regulation F by not including the itemization information required in an initial collection notice that was sent to the plaintiff. A copy of the complaint in the case of Mills v. Nationwide Recovery … The post Complaint Accuses Collector of Violating Reg F By Leaving out Itemization Info appeared first on AccountsRecovery.net.

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Medicare vs. Medicare Advantage: Which Should I Choose?

Nerd Wallet

When it’s time to sign up for Medicare, one of the first and most substantial decisions you face is whether to choose Original Medicare or Medicare Advantage. In 2022, 45% of Medicare beneficiaries have a Medicare Advantage plan, according to data from The Chartis Group. The decision will depend on several factors, including where you. Kate Ashford writes for NerdWallet.

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Medical Debt Collection Bill in Colorado Moves Closer to Becoming Law

Account Recovery

A bill in Colorado that would ban hospitals from placing unpaid debts with collection agencies if the hospitals do not comply with federal price transparency rules is rapidly moving closer to becoming a law, after the state Senate yesterday approved the bill unanimously. The bill, House Bill 1285, now moves back to the state House … The post Medical Debt Collection Bill in Colorado Moves Closer to Becoming Law appeared first on AccountsRecovery.net.

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Unsecured Credit Cards for Bad Credit

Nerd Wallet

If you have bad credit (FICO scores of 629 or below) but hope to get a credit card, you have options. Your best bet is typically a secured credit card because you’ll provide an upfront deposit as collateral. Unsecured cards, on the other hand, don’t rely on collateral. As a result, it can be more. Sara Rathner writes for NerdWallet. Email: srathner@nerdwallet.com.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

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.

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Sharp rise of Businesses in ‘Financial distress’

UK debt collections

Leading Insolvency firm Begbies Traynor has reported a 19% rise in Companies in critical financial distress for the first 3 months of 2022. Research conducted by the Insolvency specialist has found that 1,891 firms were now in severe financial distress for the first quarter of the year. This is almost a fifth higher than for the same period of twenty twenty-one (2021).

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Save on Hawaii Travel Even as Demand Soars

Nerd Wallet

When deciding where to travel this summer, Hawaii checks all the boxes for many tourists. The islands’ lush, tropical landscape provides a contrast from two years of mostly staying at home. It’s a far-off getaway, but it won’t require a negative COVID-19 test to return to the continental U.S. And, there’s no shortage of luxury. Sally French writes for NerdWallet.

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Statement of CFPB Director Rohit Chopra, FDIC Board Member, on the Notice of Proposed Rulemaking Regarding the Community Reinvestment Act

Consumer Finance

CFPB Director and FDIC Board Member Rohit Chopra’s statement on the notice of proposed rulemaking regarding the Community Reinvestment Act.

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You Got a Better Job. Now, How Do You Handle the Benefits?

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. You sat through the interviews, you picked the perfect “worst quality” to highlight, and you psyched yourself up enough.

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Agent Tooling: Connecting AI to Your Tools, Systems & Data

Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage

There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.

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What is Debt Consolidation and How Does it Work?

Better Credit Blog

Debt consolidation is when you bundle several debts together into one larger sum and then make a single monthly repayment instead of multiple smaller ones. Consolidating debts with different interest rates and repayment schedules can make it easier to manage your finances. You can even lower the total amount you have to repay if your debt consolidation method offers a lower interest rate.

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For Summer Travel Deals, Stay Off the Beaten Path

Nerd Wallet

The majority of Americans — 7 out of 10 — plan to travel in the next 12 months for leisure, according to a February NerdWallet survey. Many Americans are looking to travel this summer, and most hope to find a good deal. Air travel has nearly returned to pre-pandemic levels. The number of flyers passing. Sam Kemmis writes for NerdWallet. Email: skemmis@nerdwallet.com.

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Wyoming Amends DAO Legislation Enabling DAOs to Dictate Quorum Threshold on an Individual Basis

Troutman Sanders

On March 9, Wyoming amended the Decentralized Autonomous Organizations (DAO) Supplement (Supplement), which permits decentralized autonomous organizations (DAOs) to incorporate and obtain legal status as limited liability companies under Wyoming’s Limited Liability Company Act. The most distinctive modification of the Supplement concerns the minimum threshold of a DAO’s overall membership that must participate in proposal voting for a proposal to be valid if passed.

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How to Use the $50 Annual Ultimate Rewards Hotel Credit

Nerd Wallet

The Chase Sapphire Preferred® Card can help you save on travel in more ways than one. The Chase Ultimate Rewards® points you earn on this card can be redeemed to cover the cost of flights or hotels, transferred to other loyalty programs or even used to “Pay Yourself Back” for expenses like Airbnbs. One travel benefit. Carissa Rawson writes for NerdWallet.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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Treasury Department Proposes to Clarify That On-Demand Pay and Earned Wage Access Programs Are Not Loans

Troutman Sanders

In its annual General Explanations of the Administration’s Revenue Proposals, the U.S. Department of Treasury proposed clarifications and amendments to the Internal Revenue Code to address on-demand pay arrangements (also known as earned wage access or “EWA” programs). The proposals would confirm, among other things, that EWA programs are not loans.

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FCC Seeks Comment on HHS/CMS Request for Certainty About Communications Critical to Federal and State Health Insurance Programs Post-Pandemic

TCPA

Reacting quickly to a joint request by the U.S.

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How To Pick the Right Debt Collector?

Taurus Collect

Dealing with difficult debtors for debt collection can be challenging and burdensome. However, debt collection is a vital part of a comprehensive credit risk management system for every business, whether commercial or consumer. Thus, one of the harsh realities of running a business is that not all customers will pay in time. While it is reasonable for you to wait for your debtors to have enough funds to pay you, it gradually hampers your business’s growth and productivity in the long run.

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US Fed Makes Biggest Interest Rate Hike In 22 Years

NACM

?The Federal Reserve raised the benchmark interest rate by half a percentage point on Wednesday, it's most aggressive hike since 2000. The Fed also hinted to further rate hikes in the future as it tries to tame the worst inflation in 40 years."With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to it.

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Future-Proof Your Firm: Smarter Tech for Stronger Returns & Simpler Workflows

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

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Connecticut Legislature Passes Comprehensive Privacy Legislation, Awaiting Governor’s Signature

Troutman Sanders

On April 28, the Connecticut House passed Senate Bill 6 , an act concerning personal data privacy and online monitoring (SB 6 or Connecticut Act). The Senate unanimously passed SB 6 on April 20, and is now currently under consideration by Governor Ned Lamont. If the bill becomes law, it will go into effect on July 1, 2023, making Connecticut the fifth state to enact a comprehensive data privacy law.