Account Recovery
MAY 24, 2022
NORFOLK, Va., May 20, 2022 /PRNewswire/ — Kevin Stevenson, president and CEO of PRA Group, Inc., a global leader in acquiring and collecting nonperforming loans, was recognized for his proven track record of outstanding leadership, exemplary service and advocacy for positive change during the Community Builders Award ceremony yesterday evening.
Nerd Wallet
MAY 24, 2022
Inflation has come down especially hard on people already struggling to put gas in their tanks and groceries in their refrigerators. For many, a payday loan may seem like the only way to get necessary cash. In recent years, however, as more states set restrictions on risky, short-term loans, new lenders offering lower-cost small loans. Annie Millerbernd writes for NerdWallet.
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Account Recovery
MAY 24, 2022
SCAMMERS BANNED FROM INDUSTRY, TO PAY $4M IN FINES AFTER BEING SUED BY CFPB, NY AG A proposed stipulated judgment has been filed in federal court that would bring an end to an enforcement action brought by the Consumer Financial Protection Bureau and the Attorney General of New York against a series of individuals operating … The post Daily Digest – May 24.
Nerd Wallet
MAY 24, 2022
Buying gift cards with a credit card is possible and often quite convenient and beneficial. It can be an easy way to maximize your rewards — but you’ll want to play your cards right. That’s because there are some potential restrictions, drawbacks or costs you could encounter, depending on your credit card issuer, the gift. Jae Bratton writes for NerdWallet.
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
MAY 24, 2022
A District Court judge in New Jersey has granted a defendant’s motion to dismiss a class-action Fair Debt Collection Practices Act lawsuit over a letter that was sent to the plaintiff providing information about how to file an identity theft claim. A copy of the ruling in the case of Ozturk v. AmSher Collection Services … The post Judge Grants MTD in FDCPA Case Over Identity Theft Letter appeared first on AccountsRecovery.net.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
MAY 24, 2022
The California Department of Financial Protection and Innovation sent out an update yesterday, announcing that the issuance of licenses to companies that applied for debt collection licenses has been “unavoidably delayed” because of changes that need to be made when requesting federal background checks. The DFPI did not provide a timeline for when this “unforeseen … The post California Licenses ‘Unavoidably Delayed’ Thanks to Need for Changes to Background Che
Nerd Wallet
MAY 24, 2022
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. Is a savings account a good place to keep your reserve funds? Americans are looking for an answer as. Kurt Woock writes for NerdWallet.
Account Recovery
MAY 24, 2022
A proposed stipulated judgment has been filed in federal court that would bring an end to an enforcement action brought by the Consumer Financial Protection Bureau and the Attorney General of New York against a series of individuals operating more than a half-dozen different companies all out of the same office that were accused of … The post Scammers Banned from Industry, to Pay $4M in Fines After Being Sued by CFPB, NY AG appeared first on AccountsRecovery.net.
Nerd Wallet
MAY 24, 2022
Depending on your travel style, family size and destination, you might opt in for a vacation rental property instead of a hotel. More often than not, you’ll have access to a kitchen, more shared space and possibly a lower price. Vrbo (pronounced VER-bo) is an online marketplace leading you to vacation homes available for short-term. Anya Kartashova writes for NerdWallet.
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Account Recovery
MAY 24, 2022
The increased focus and attention being paid to medical debts these days by state and federal regulators and lawmakers is changing how this type of debt is being collected, and those changes might be permanent, Leslie Bender and John Bedard discuss on the latest episode of “The Narrative.” The Consumer Financial Protection Bureau recently issued … The post Latest Episode of ‘The Narrative’ Breaks Down CFPB Report on Medical Debt Complaints appeared first on Accounts
FFGN COLLECT NY
MAY 24, 2022
Confessions of judgment may no longer be permitted as part of the necessary documents when buying or selling financial services or products to consumers in New York. Senate bill S2632 is another overt action taken by New York state to limit the entry of judgments without due process to the borrower or debtor. A confession of judgment is a document signed by an individual either on their own behalf, as an officer of a company, or both.
Fico Collections
MAY 24, 2022
How does environment affect you in your job? You might ask the question; how do environmental issues impact you in your job? You might be in the risk part of the business or collections. Or you might be dealing with customer servicing or digital engagement. So how does this connect with you? In 2022, most companies have some environmental policy around what they're doing and they're sharing this with their shareholders, the stakeholders of their organizations.
Troutman Sanders
MAY 24, 2022
In a unanimous decision, the Supreme Court has rejected the rule that a party’s conduct inconsistent with the right to arbitrate will constitute a waiver of that right only if the opposing party was prejudiced by the conduct. In Morgan v. Sundance, Inc. , issued May 23, the Court concluded that this rule, followed by nine federal circuits, was inconsistent with federal waiver law generally and was not justified by the federal policy favoring arbitration established by the Federal Arbitration Act
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?
Fraser
MAY 24, 2022
A jury in South Carolina awarded a former Clemson University student $5.3 million in connection with defamation and civil conspiracy claims he brought against three individuals stemming from false allegations of sexual misconduct. While the lawsuit against the individuals did not include a Title IX claim, the underlying circumstances did involve a Title IX investigation.
Troutman Sanders
MAY 24, 2022
On May 20, California’s Department of Financial Protection and Innovation (DFPI or Department) announced that it had filed a Notice of Proposed Rulemaking with the Office of Administrative Law, inviting public comments on the proposed rulemaking. The purpose of the proposed regulations is to implement, interpret, clarify, and make specific, certain sections of the California Consumer Financial Protection Law (CCFPL) that impose requirements on covered companies to respond to consumer complaints
True Accord
MAY 24, 2022
Your Guide to Key Terms for Today’s Debt Recovery Strategy. Reaching consumers today requires a more sophisticated process than simply dialing the phone or sending a generic email, especially when it comes to debt recovery and collection. But reviewing potential strategies can often leave you lost in a sea full of acronyms and buzzwords. Between terms like AI, machine learning, and data science, it can be difficult to keep up with the different definitions—and understand how they impact your bus
Troutman Sanders
MAY 24, 2022
On May 4, the Connecticut Banking Commissioner issued a temporary order to cease and desist and order to make restitution against lead generator SoLo Funds Inc. (SoLo) for allegedly engaging in unfair, deceptive, and abusive acts and practices (UDAAPs) in violation of the Consumer Financial Protection Act of 2010, as well as for operating in Connecticut without a small loan company license or a consumer collection agency license.
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On Guard
MAY 24, 2022
Systems that do not work properly are a major source of frustration. Amsterdam, 24 May 2022 – To ensure that customers make payments, 42% of finance professionals deployed a range of payment options in 2019. Over the years, this has proven not to be the solution for non-paying customers. In 2020, only 33% were using this tactic, in 2021 it was 27% and now only one in five (20%) companies are doing so.
Taurus Collect
MAY 24, 2022
Time and money are the most critical elements that keep any business up and going. Thus, timely debt collection is crucial for every business. It enables you to improve your company’s cash flow, allowing businesses to reduce the risk of incurring losses and free up their resources. Moreover, debt recovery is directly associated with your credit score.
NACM
MAY 24, 2022
Americans are becoming less concerned about punishing Russia for invading Ukraine and more concerned about the cost those sanctions are having on the economy, according to a poll from The Associated Press-NORC Center for Publish Affairs Research.More than half (51%) of U.S. adults say limiting damage to the U.S. economy should be a top priority whi.
Troutman Sanders
MAY 24, 2022
On May 9, Clearview AI (Clearview) and the American Civil Liberties Union (ACLU) reached a settlement whereby Clearview agreed to a nationwide injunction blocking many private entities, and some public entities, from accessing its database of face prints. The settlement highlights the force of the Illinois Biometric Information Privacy Act (BIPA) and demonstrates how state privacy laws can impact privacy on a nationwide scale.
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.
Nerd Wallet
MAY 24, 2022
Whether you’re an Alaska Airlines elite loyalty member or flying the airline for a single flight, there are some ways that you can save money flying on Alaska. There are a few strategies to save, including searching other travel dates, using credit card benefits or by buying certain fare classes. Here’s how you can find. Josh Garber writes for NerdWallet.
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