Mon.Jun 28, 2021

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Senators Ask CFPB to ‘Address’ Medical Debt Collection

Account Recovery

A group of Senate Democrats are calling on the Consumer Financial Protection Bureau to prohibit reporting medical debt collection tradelines to credit bureaus, further limiting the number of communication attempts beyond what is included in Regulation F, and know whether a consumer is appealing the denial of coverage with his or her health insurance carrier, … The post Senators Ask CFPB to ‘Address’ Medical Debt Collection appeared first on AccountsRecovery.net.

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Developing an SMB Risk Management Strategy

Nexa Collect

For most small business owners, handling day-to-day operations and strategizing for the near future is enough to keep them busy. For that reason, not very many of them take the time to game out what might happen to their business if an unexpected emergency arose. And the results of that neglect have been on full display throughout the COVID-19 pandemic.

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Daily Digest – June 28. Nevada Regulator Answers Questions About New Law; Industry Seizes on Footnote in SCOTUS Ruling to Make Case for Hunstein Rehearing

Account Recovery

NEVADA REGULATOR ANSWERS QUESTIONS ABOUT NEW MEDICAL DEBT COLLECTION LAW As evidenced by a recently held webinar on AccountsRecovery.net, there are a lot more questions than answers about a soon-to-be-enacted medical debt collection law in Nevada. But, thanks to some questions submitted to the Financial Institutions Division of the Nevada Department of Business and Industry, … The post Daily Digest – June 28.

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Third Jimerson Birr Partner Becomes Multiyear Recipient of Statewide Legal Elite Honor

Jimerson Firm

Jacksonville, Fla. – June 28, 2021 – Jimerson Birr is proud to announced partners James O. “Joby” Birr, III and C. Ryan Maloney have been recognized among Florida Trend’s 2021 Legal Elite. This is the second consecutive year Maloney has earned the distinction, becoming the third multiyear honoree at the firm, joining Birr and managing partner Charles B.

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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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Nevada Regulator Answers Questions About New Medical Debt Collection Law

Account Recovery

As evidenced by a recently held webinar on AccountsRecovery.net, there are a lot more questions than answers about a soon-to-be-enacted medical debt collection law in Nevada. But, thanks to some questions submitted to the Financial Institutions Division of the Nevada Department of Business and Industry, there are some answers to help companies in the accounts … The post Nevada Regulator Answers Questions About New Medical Debt Collection Law appeared first on AccountsRecovery.net.

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Industry Seizes Footnote in SCOTUS Ruling on Standing to Make Case for Rehearing in Hunstein Lawsuit

Account Recovery

Both the defendant in the Hunstein v. Preferred Collection and Management Services case as well as ACA International jumped on the Supreme Court’s ruling in TransUnion v. Ramirez to add to their arguments why the Eleventh Circuit Court of Appeals should grant the petition for an en banc rehearing of the Hunstein case, referring to … The post Industry Seizes Footnote in SCOTUS Ruling on Standing to Make Case for Rehearing in Hunstein Lawsuit appeared first on AccountsRecovery.net.

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The Ultimate Guide to Rental Car Alternatives

Nerd Wallet

Depending on whom you ask, we may be in the midst of a rental car apocalypse. Many have opted out of air travel in favor of road trips, making rental cars in far higher demand than what they were not just in 2020, but in the more-normal year of 2019 too. For many rental car. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia.

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Calif. DFPI Issues Proposal to Change Licensing Application

Account Recovery

The California Department of Financial Protection and Innovation (DFPI) has issued a notice of rulemaking, seeking to incorporate changes to its debt collection license application after reviewing comments on the proposal. Interested parties have until July 12 to submit their comments on the new proposal. The licensing law is scheduled to go into effect on … The post Calif.

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How to Make the Most of Qatar Airways First Class

Nerd Wallet

Qatar Airways first class is the most luxurious way to fly this Doha-based Oneworld alliance member airline. Here’s what you need to know before flying Qatar Airways first class cabin. What to expect flying first class with Qatar Airways Expect excellent service, access to the world-renowned first class lounge, Al Safwa at Hamad International Airport.

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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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CFPB Takes Action Against Company and its Owners and Executives for Deceptive Debt-Relief and Credit-Repair Services

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today filed a proposed order in federal district court against Burlington Financial Group and its owners and executives, Richard Burnham, Katherine Burnham, and Sang Yi, for allegedly deceiving consumers into hiring the company to lower or eliminate credit-card debts and improve consumers’ credit scores.

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Smart Money Podcast: Midyear Money Check-in and Managing Finances Abroad

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 about how to check in on your money goals for 2021. Then we pivot to this week’s question from Kaylan, who sent us a text asking: “My husband recently got a new job in Germany. Liz Weston writes for NerdWallet. Email: lweston@nerdwallet.com.

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Essential Security Tips to Keep Your Information Safe from Credit Card Skimmers

Credit Corp

This article originally appeared on Finder.com and has been republished here with permission. Credit card fraud is becoming more sophisticated, with scammers using devices called “skimmers” that steal and store your information after you swipe or insert your card. Thankfully, you can visually identify skimmers if you know what to look for. Here are a few low-tech ways you can keep your card safe.

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The Guide to National Car Rental’s Emerald Club

Nerd Wallet

Enrolling in National Car Rental’s Emerald Club loyalty program can help you save money and enjoy extra perks when you rent a car from the company. Emerald Club is free to join, so becoming a member is a no-brainer — especially if you find yourself booking with National and wanting to enjoy extra savings, upgrades. Rand Shoaf writes for NerdWallet. Email: travel@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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CFPB Report Highlights Supervisory Findings of Wide-Ranging Violations of Law in 2020

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting legal violations identified by the Bureau’s examinations in 2020. The report also highlights prior CFPB supervisory findings that led to public enforcement actions in 2020 resulting in more than $124 million in consumer remediation and civil money penalties.

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One DUI Can Nearly Double Insurance Costs, an Analysis Finds

Nerd Wallet

Driving under the influence can cost you more than you may think. Drivers with one DUI pay $3,114 a year, on average, for full coverage car insurance — almost double what a driver without any traffic violations pays — according to NerdWallet’s 2021 rate analysis. The analysis included drivers with one DUI across all 50. Kayda Norman writes for NerdWallet.

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Effective Date Announced for New COVID-19 Safety Rule for Healthcare Providers

Burr Forman

OSHA’s Emergency Temporary Standard imposes new COVID-19 requirements on healthcare providers. Employers must comply with most provisions by July 6, 2021. In January 2021, President Joe Biden issued an Executive Order directing the Department of Labor (“DOL”) to consider issuing an Emergency Temporary Standard (“ETS”) addressing COVID-19. After numerous delays, the final ETS was issued on June 10, 2021, and addresses what healthcare employers, who are not excluded from its application, must do

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With Student Loan Payments Set to Return, Here’s How to Get Help

Nerd Wallet

For 42.9 million student loan borrowers, it’s been 18 months without a payment. That ends in October — ready or not. The interest-free federal student loan payment pause, known as a forbearance, was extended three times after it initially went into effect in March 2020 as a way to help reduce the financial blow many. Anna Helhoski 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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What is Invoice Discounting? All You Need to Know

Hudson Weir

Cash flow is always a crucial consideration when running any size of business. There are multiple financing options out there with a range of pros and cons, including invoice discounting. Here we’ll explore this option, and see when it’s a viable option to help your company raise vital funds without taking on excessive debt or extra borrowing.

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What are some unexpected life events that could lead to bankruptcy?

Roths Child Law

Bankruptcy may be one of the last things on your mind if everything is going well in your life. You may feel financially stable, have a good-paying job, and not have too much personal debt. . That being said, to no fault of your own, you may experience a life event that leaves you in a position where bankruptcy could be your best option. . Do not fear, you are not alone. .

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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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California Legislature Looks To Halt Child Support Debt Collections

Collection Industry News

Source: site. California lawmakers have advanced a budget proposal to stop collecting child support debt from some parents who are receiving cash assistance, but the proposed solutions are a far cry from what advocates for those debt-holders sought in January. The Legislature’s budget proposal would reduce or expunge debt owed to the government – not the debt owed to families – for parents whose only source of income is from Supplemental Security Income or State Supplementary Payment, the Cas

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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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Securities Industry Arbitrations and Litigation Update: Second Circuit Affirms Southern District of New York’s Denial of Investment Banker’s Motion to Vacate FINRA Arbitration Award for the Arbitration Panel’s Alleged “Manifest Disregard of the Law”

Troutman Sanders

In Jefferies LLC v Gegenheimer , the Second Circuit reminded prospective FINRA arbitration litigants of the high burden in court to vacate an unsatisfactory arbitration award issued by a panel of arbitrators. In this matter, the petitioner was a FINRA-member investment bank and respondent was an individually licensed investment banker. The dispute arose out of a negotiated employment contract between the parties.

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Go Green: An Evergreen Retainer Can Help with Collections

NCBA Law Practice Management Blog

Law firm collection rate s tend to be well below average. That’s in part because law firms are great extenders of credit. They’ll taka a retainer upfront, struggle to collect any more money, and then continue to work through a situation in which it’s unlikely they ’ ll get paid anything more. This is precisely why most senior lawyers will tell their juniors to get paid as much as possible upfront, because another dime may not ever come.

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Securities Industry Arbitrations and Litigation Update: FINRA Announces It Will Resume In-Person Arbitration and Mediation Proceedings Beginning July 5, 2021 for 62 of 69 of its Dispute Resolution Services Locations

Troutman Sanders

Last March we reported that, in response to the COVID-19 pandemic, the Financial Industry Regulatory Authority Inc. (FINRA) administratively postponed in-person arbitration and mediation proceedings , and held such proceedings remotely via telephone or Zoom. However, given recent developments in the country’s reopening from the pandemic, FINRA announced that it will re-open 62 of its 69 FINRA Dispute Resolution Services (DRS) hearing locations for in-person arbitration and mediation proceeding b

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Infographic – Intelligent Automation in the order-to-cash process

On Guard

The technology across all technologies. Automation as a general concept has long been in existence, with ambitious organisations and individuals searching for clever ways of transforming time-consuming manual processes. While ideal in terms of efficiency, what if automation could go a step further and replic ate the human thought-process? Enter Intelligent Automation.

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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.