Mon.Mar 22, 2021

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Compliance Digest – March 22

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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The 6 Biggest Life Insurance Myths About COVID, Cost and Coverage

Nerd Wallet

Shopping for life insurance can feel overwhelming, especially if you don’t have the facts. You may have heard that it’s too expensive or only healthy people can qualify for coverage, but the truth may surprise you. We break down six common life insurance myths so you can better understand your options and get coverage that’s. Georgia Rose writes for NerdWallet.

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Judge Denies MTD in FDCPA Class Action Over Continuance Requests in Underlying Collection Suits

Account Recovery

A District Court judge in Pennsylvania has denied a defendant’s motion to dismiss a class-action lawsuit claiming it allegedly violated the Fair Debt Collection Practices Act by engaging in a “policy and practice of seeking a continuance in a state-court debt-collection action by falsely representing, on the day of the hearing, that it needs a … The post Judge Denies MTD in FDCPA Class Action Over Continuance Requests in Underlying Collection Suits appeared first on AccountsRec

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Is “living on less” really an option for debt relief?

Roths Child Law

You never expected to find yourself struggling this hard with your debts. Unfortunately, some find that unexpected changes in your career and finances have become crushing and you aren’t able to pay your bills. . Getting out of debt is a priority for you, but there doesn't seem to be much left after your necessary bills are paid to put toward the growing number of other debts you have -- and late fees are driving the bills ever higher.

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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.

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DCM Services names Scott Foster Director of Business Development, Healthcare Revenue Cycle

Account Recovery

Minneapolis, MN — March 22, 2021 — DCM Services, LLC (DCMS) the industry leader in estate and specialty account recovery solutions, announced the hiring of Scott Foster, MBA, CHFP, CRCR as Director of Business Development, Healthcare Revenue Cycle. Foster, who most recently served as Vice President of Business Development at Penn Credit Corporation, will use … The post DCM Services names Scott Foster Director of Business Development, Healthcare Revenue Cycle appeared first on AccountsRecov

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Daily Digest – March 22. How to Make New Hire Training Effective in a Remote Environment; Judge Denies MTD in FDCPA Class Action

Account Recovery

HOW TO MAKE NEW HIRE TRAINING EFFECTIVE IN A REMOTE WORK ENVIRONMENT Training new collectors is relatively the same whether it is being done in person or remotely, but the other aspects of bringing in new employees are not so easily replicated when those individuals are not in the office together, and collection agencies need … The post Daily Digest – March 22.

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Mercury Banking for Startups: 2021 Review

Nerd Wallet

Mercury is an online banking platform that includes both a business checking account and a business savings account with no monthly fees. Designed with startups in mind, Mercury offers scalable digital tools — plus, every account provides read-write application programming interface access to truly customize your banking. Additionally, Mercury offers an upgraded version of its.

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How to Make New Hire Training Effective in a Remote Work Environment

Account Recovery

Training new collectors is relatively the same whether it is being done in person or remotely, but the other aspects of bringing in new employees are not so easily replicated when those individuals are not in the office together, and collection agencies need to make sure to focus time and attention on helping new hires … The post How to Make New Hire Training Effective in a Remote Work Environment appeared first on AccountsRecovery.net.

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Smart Money Podcast: Redlining, and Paying Off a Car Loan

Nerd Wallet

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion of redlining and its effects on the racial wealth gap. Then we pivot to this week’s question from an unnamed listener, who texted: “I’m starting a master’s program in the fall. And I have two. Liz Weston writes for NerdWallet.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

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Judge Grants MTD in FCRA Case Over Discrepancy in Debt Amounts Furnished to CRA

Account Recovery

A District Court judge in Maryland has granted a defendant’s motion to dismiss, ruling that a plaintiff lacked standing to claim the defendant violated the Fair Credit Reporting Act when it furnished information that the amount that was past due on a loan was less than the amount that had been written off. A copy … The post Judge Grants MTD in FCRA Case Over Discrepancy in Debt Amounts Furnished to CRA appeared first on AccountsRecovery.net.

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Make a Plan to Get Your Money Resolution Back on Track

Nerd Wallet

We’re three months into 2021. Let’s check on those financial New Year’s resolutions. (Remember those?) Quite possibly, they’ve already gone awry. Maybe you planned to build a $1,000 emergency fund, but the balance is still zero. Or perhaps you swore off takeout, yet you’re scraping the last bite of chow mein from a paper container. Lauren Schwahn writes for NerdWallet.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

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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How to Finance an Engagement Ring in 2021

Nerd Wallet

When you’re about to pop the question, your finances may not be the first thing on your mind — but they might be the second. Engagement rings and the weddings that follow are among life’s priciest purchases, so starting on the right foot is key. The average cost for an engagement ring in 2020 was. Annie Millerbernd writes for NerdWallet. Email: amillerbernd@nerdwallet.com.

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ERM Program Fundamentals for Success in the Banking Industry

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?

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Trusted AI: The Science of Monotonicity in Neural Networks

Fico Collections

Welcome to Part 2 of my exploration of monotonicity in neural networks. In this blog I’ll get into some of the data science techniques we’ve developed at FICO to ensure monotonicity in neural networks. Monotonicity is essential to build trust and auditability in decision models used in regulated industries such as lending, where fair, unbiased decisioning is the top priority for all parties involved: lenders, customers and regulators.

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How to Get Free In-Flight Wi-Fi

Nerd Wallet

Wi-Fi in the sky used to be a luxury. Now travelers are so used to being connected with friends, family and social media that the idea of being offline for hours may be frightening. Airlines have responded by making investments to add high-speed, satellite-based Wi-Fi to planes. While most airlines still charge passengers to connect, JT Genter writes for NerdWallet.

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Fintechs Beware! The CFPB is Monitoring You Closely

Troutman Sanders

On March 18, Opportunity Financial, Inc. (OppFi) — a Chicago-based platform lender — announced that the Consumer Financial Protection Bureau (CFPB) is investigating its compliance with the Military Lending Act. The announcement — coupled with several others like it in recent months — confirms that the CFPB is closely monitoring fintechs. OppFi is a consumer lending company that works with banks to facilitate loans to consumers who lack access to traditional credit.

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5 Travel Tips From a Historic Female Globe-Trotter

Nerd Wallet

If Nellie Bly were alive today, she would be an influencer. This 19th-century woman was a journalist famous for writing about her stunts — one of which was a record-breaking trip around the globe from 1889 to 1890. She started from Hoboken, New Jersey, and traveled mainly by ship and train, stopping in the United. Meghan Coyle writes for NerdWallet.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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Congress Considers Amendment to the FCRA to Exclude Paid Medical Debts from Credit Reports

Troutman Sanders

On March 11, U.S. Representative Patrick McHenry (R-NC) reintroduced a bill to amend the Fair Credit Reporting Act (FCRA). H.R. 1645, the Protecting Consumer Access to Credit Act , would remove from a consumer’s credit report all paid, non-elective medical debt, and negative information judicially determined to have resulted from predatory lending or financial abuse.

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Barclays Launches New AARP Credit Cards, Taking Over for Chase

Nerd Wallet

Barclays is introducing new co-branded AARP credit cards, taking over for Chase as the issuer of that portfolio. The new rewards-earning cards are: The AARP® Essential Rewards Mastercard® from Barclays. The AARP® Travel Rewards Mastercard® from Barclays. Here’s how the new cards compare with each other and the outgoing AARP® Credit Card from Chase: AARP®.

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Is “living on less” really an option for debt relief?

Roths Child Law

You never expected to find yourself struggling this hard with your debts. Unfortunately, some find that unexpected changes in your career and finances have become crushing and you aren’t able to pay your bills. . Getting out of debt is a priority for you, but there doesn't seem to be much left after your necessary bills are paid to put toward the growing number of other debts you have -- and late fees are driving the bills ever higher.

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Do You Know What Your Investments Are? Most Americans Don’t

Nerd Wallet

This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Mutual funds and exchange-traded funds, or ETFs, can often be relatively low-cost investments that allow investors to diversify their financial portfolios without having to.

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The Power of Storytelling in Risk Management

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.

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CFPB submits 2020 report to Congress on the FDCPA

Public Citizen

The Consumer Financial Protection Bureau released the 2020 annual report to Congress on administration of the Fair Debt Collection Practices Act. According to the CFPB press release , "the report highlights efforts by the CFPB and the Federal Trade Commission to protect consumers, particularly those who have suffered profound financial impacts due to the COVID-19 pandemic.

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What Is the Gig Economy?

Nerd Wallet

The term “gig economy” gets thrown around most often in reference to jobs like driving for a rideshare company, making deliveries or walking dogs. But the truth is, it’s much more expansive. What exactly is the gig economy and who is included? Here’s what to know. What is the gig economy? The gig economy is. Lauren Schwahn writes for NerdWallet. Email: lschwahn@nerdwallet.com.

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Burr & Forman’s Construction and Project Development Practice Group Continues to Grow with the Addition of Bryant Hitson

Burr Forman

Burr & Forman announces the addition of Bryant Hitson to the firm’s Construction and Project Development practice group. Bryant is an associate in the firm’s Mobile office. Bryant joins Burr & Forman after five years at a boutique law firm in the Mobile area. Bryant’s background includes experience in general insurance defense, motor vehicle litigation, and trucking litigation.

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Understanding American Airlines Boarding Groups and How You Can Upgrade

Nerd Wallet

In March 2017, American Airlines switched to a new boarding process with a whopping nine boarding groups. American has stuck with this boarding process ever since, despite the occasional sighs and eye rolls from passengers who feel their boarding group may never be called. Having so many American Airlines boarding groups can be confusing, but. JT Genter writes for NerdWallet.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.