Account Recovery

JULY 12, 2022

JUDGE GRANTS MTD IN FDCPA CASE INVOLVING HUNSTEIN CLAIM A District Court judge in New York has granted a defendant’s motion to dismiss in a Fair Debt Collection Practices Act case, ruling the plaintiff lacked standing to file claims that the defendant violated the statute’s third-party disclosure provisions by using a third party to print … The post Daily Digest – July 12.

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Fair Debt Collection Collections 246

Nerd Wallet

JULY 12, 2022

People without cryptocurrency may view the crypto market’s 2022 upheaval with a cursory glance — they have no skin in the game. But many Americans are invested in crypto, according to a new NerdWallet survey, and misunderstandings about their investments could be detrimental when things are volatile. An estimated 64 million Americans owned cryptocurrency, according.

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Account Recovery

JULY 12, 2022

Acknowledging that it takes more than lawyers and examiners these days to keep tabs on the financial services industry, the Consumer Financial Protection Bureau has announced an initiative where it plans to hire 25 technologists to join the agency, who will be tasked with supporting the CFPB’s efforts to uncover misconduct and unlawful activities.

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Lawyers Financial services 246

Fraser

JULY 12, 2022

Courts generally show a pattern of skepticism toward force majeure and frustration of purpose arguments stemming from the Covid-19 pandemic. Here’s what businesses need to know to protect themselves. Definitions. First, we need to get our terminology straight. Frustration of purpose and force majeure, while related concepts, are distinct in some important ways.

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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

JULY 12, 2022

An organization seeking to put a measure on the ballot in Arizona this November that would increase the amounts that consumers can shield from garnishments to pay medical debts while also lowering the judgment interest rate on medical debt turned in twice as many signatures as needed last week, and is “likely” headed to the … The post Arizona Medical Debt Collection Initiative Likely Heading to Ballot for November Election appeared first on AccountsRecovery.net.

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Account Recovery

JULY 12, 2022

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call … The post Complaint Accuses Collector of Violating Reg F, FDCPA For Not Deleting Disputed Tradeline appeared first on AccountsRecovery.ne

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UK debt collections

JULY 12, 2022

The scourge of late payment is affecting Self Employed workers and Freelancers across the UK according to one source. The average amount owed to self employed freelancers has risen to £5,230 in 2022. Andy Chamberlain of The Association of Independent Professionals and the Self Employed ( IPSE ) has highlighted that the problem is bigger than ever today and worsening.

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Account Recovery

JULY 12, 2022

A District Court judge in New York has granted a defendant’s motion to dismiss in a Fair Debt Collection Practices Act case, ruling the plaintiff lacked standing to file claims that the defendant violated the statute’s third-party disclosure provisions by using a third party to print and mail a collection letter. A copy of the … The post Judge Grants MTD in FDCPA Case Involving Hunstein Claim appeared first on AccountsRecovery.net.

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Nerd Wallet

JULY 12, 2022

World of Hyatt elite status members love their suite upgrades, and while many hotels will offer a complimentary, space-available upgrade upon arrival, there is another path to a better room. Some elite members can earn suite upgrades that they can apply in advance, giving them a better shot at an upgrade. It’s important to understand. Ramsey Qubein writes for NerdWallet.

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Collections

FFGN COLLECT NY

JULY 12, 2022

In response to your demand for payment, you were advised that the court appointed a receiver. What is a receiver, how are they appointed, and what effect do they have on your debt collection claim? Receivers are court-appointed individuals who assist in a variety of situations. Receivers are common in mortgage foreclosure scenarios when a lender forecloses on a property.

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Collections Foreclosure Lawyers Lender 52

Nerd Wallet

JULY 12, 2022

The Chase Freedom Flex? isn’t necessarily the easiest credit card to manage, but it offers great rewards for those willing to put in a little work. The card earns 5% cash back in categories that change every three months. You have to “activate” the categories each time in order to qualify for the 5% rewards. Paul Soucy writes for NerdWallet. Email: paul@nerdwallet.com.

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Taurus Collect

JULY 12, 2022

Late payments are an inevitable part of small businesses. However, by having the right business and payment terms by your side along with the assistance of a well-experienced debt recovery agency , you can ensure to receive quick payments. Therefore, always clearly and concisely specify your business terms to leave no excuse for slow payers and non-payers.

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Nerd Wallet

JULY 12, 2022

When Hyatt loyalists travel, they may compare Hyatt House to Hyatt Regency to decide where to stay. Each brand within the World of Hyatt family caters to a different audience. Here’s how to tell which of these Hyatt brands is right for your next trip. Major differences between Hyatt House and Hyatt Regency Although both. Lee Huffman writes for NerdWallet.

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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?

Banks

Consumer Finance

JULY 12, 2022

Assistant Director of Servicemember Affairs James S. Rice's statement before the House Committee on Oversight and Reform Subcommittee on National Security.

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Nerd Wallet

JULY 12, 2022

If you’re a frequent shopper at Athleta and its sibling brands under the Gap Inc. corporate umbrella, the Athleta Rewards Mastercard® Credit Card might be a stylish addition to your wallet and your wardrobe. This $0-annual-fee card earns the equivalent of 5% rewards at Athleta and affiliated brands, plus 1% on purchases anywhere else Mastercard. Jae Bratton writes for NerdWallet.

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True Accord

JULY 12, 2022

With more than 20 million consumer accounts serviced through intelligent, digital-first collections products, results show better repayment and happier customers than “call to collect” agencies. LENEXA, Kan., July 12, 2022 — TrueAccord Corp , a debt collection company using machine learning-powered digital recovery solutions, today announced that it has served more than 20 million customers in debt with a digital-first experience.

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Collection Industry News

JULY 12, 2022

Source: site. The U.S. Court of Appeals for the Eleventh Circuit recently held that periodic statements required by the federal Truth in Lending Act may violate the federal Fair Debt Collection Practices Act if they are not truthful and fair. A copy of the opinion in Lamirand, et al v. Fay Servicing, LLC is available at: Link to Opinion. The appeal arose from a lawsuit brought by two Florida homeowners (“Debtors”) against their home loan servicer (“Servicer”) for alleged violations of the FD

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Collections

NACM

JULY 12, 2022

President Joe Biden and Mexican President Andrés Manuel López Obrador met earlier today to discuss immigration, trade relations and the war in Ukraine. The meeting comes after Obrador skipped the Summit of the Americas following the U.S. decision not to invite leaders from Cuba, Nicaragua and Venezuela. Despite recent tensions between both cou.

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Trade 5

Collection Industry News

JULY 12, 2022

Source: site. The Consumer Financial Protection Bureau (CFPB) has issued a legal interpretation to ensure that companies that use and share credit reports and background reports have a permissible purpose under the Fair Credit Reporting Act (FCRA). The CFPB’s new ruling clarifies that reporting companies and users of credit reports have specific obligations to protect the public’s data privacy.

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Collection Industry News

JULY 12, 2022

Source: site. Discussion about whether President Biden will forgive $10,000 in student loans for all borrowers dominates headlines. But behind the scenes, Biden’s Department of Education has canceled tens of billions of dollars by turbocharging existing loan forgiveness programs. A set of proposed regulations released on Wednesday would expand those avenues for forgiveness even further.

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Collection Industry News

JULY 12, 2022

Source: site. On Wednesday, the Biden administration announced it was proposing new regulations for student loans owned by the Department of Education. The proposed rules call for an $85 billion expansion of existing federal student loan forgiveness programs. They would expand eligibility for programs created under Presidents George W. Bush and Barack Obama and end the capitalization of interest on federal student loans in some circumstances.

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Student loans Student Loans Education Loans 40

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.

Collection Industry News

JULY 12, 2022

Source: site. NEW YORK (Reuters) – Second quarter profits at big U.S. banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession. Analysts expect JPMorgan Chase & Co will report a 25% drop in profit on Thursday, while Citigroup Inc and Wells Fargo & Co will show 38% and 42% profit declines, respectively on Friday, according to Refinitiv I/B/E/S data.

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Collection Industry News

JULY 12, 2022

Source: site. . A Miami payday loan business must pay more than $39 million to hundreds of Venezuelan Americans in South Florida who lost a chunk of their money after investing in the company, according to a federal judge’s order. Sky Group USA, LLC, agreed to the final judgment with the Securities and Exchange Commission without admitting or denying violations of federal laws.

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