Mon.Aug 02, 2021

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The Rent is About to Come Due For Millions of Renters. What That Means for the ARM Industry

Account Recovery

It is possible that the surge in payments that many companies in the accounts receivable management industry have seen and received since the COVID-19 pandemic hit the United States nearly 17 months ago may likely be on the brink of ending, coinciding with the expiration of a moratorium on evictions that occurred yesterday. Now, $21 … The post The Rent is About to Come Due For Millions of Renters.

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When It Can Be a Good Idea to Co-Sign for Your Young Adult

Nerd Wallet

If you’re the parent of a young adult, you may be asked to co-sign for a car loan or an apartment lease. Before you agree, know what’s at stake — you could be putting your own financial security at risk. What co-signing really means When you co-sign, you become fully responsible for someone else’s debt. Bev O'Shea writes for NerdWallet. Email: boshea@nerdwallet.com.

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Compliance Digest – August 2

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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Mortgage Outlook: In the August Heat, Rates May Go for a Dip

Nerd Wallet

August mortgage rates forecast Mortgage rates won’t change much in August, but they’re more likely to edge down than to go up. I wouldn’t be surprised if the average rate on the 30-year fixed dips to 2.75% annual percentage rate at some point in August. The monthly average should end up somewhere between 2.8% and. Holden Lewis writes for NerdWallet.

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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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Judge Grants Petition from CFPB to Enforce $50M Order Against Payday Lender, CEO

Account Recovery

A District Court judge in Kansas has granted a petition from the Consumer Financial Protection Bureau to enforce an administrative order that assessed more than $50 million in fines and restitution against an online lender and its chief executive, even though the order has been appealed to the Court of Appeals for the Tenth Circuit. … The post Judge Grants Petition from CFPB to Enforce $50M Order Against Payday Lender, CEO appeared first on AccountsRecovery.net.

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Daily Digest – August 2. Reg F Going Into Effect Nov. 30; Judge Grants Motions for Sanctions in FDCPA Case

Account Recovery

CFPB ANNOUNCES NOV. 30 EFFECTIVE DATE FOR REGULATION F The Consumer Financial Protection Bureau announced on Friday that Regulation F will go into effect on November 30 as originally planned and will not delay the effective date of the rule until January 2022. JUDGE GRANTS DEFENDANT’S MOTION FOR SANCTIONS IN FDCPA CASE A District Court … The post Daily Digest – August 2.

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Smart Money Podcast: Getting Ahead of Your Next Money Crisis With Michelle Singletary

Nerd Wallet

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode is devoted to a conversation with Washington Post personal finance columnist and author Michelle Singletary. Liz and Sean discuss her new book, “What to do With Your Money When Crisis Hits,” and how her experience as a Black woman. Liz Weston writes for NerdWallet.

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Judge Grants Defendant’s Motion for Sanctions in FDCPA Case

Account Recovery

A District Court judge in Mississippi has granted a defendant’s motion for sanctions and ordered the plaintiff’s attorneys to repay the defendant for 16 months of legal fees in a Fair Debt Collection Practices Act case. A copy of the ruling in the case of Gordon v. United Medical Recovery can be accessed by clicking … The post Judge Grants Defendant’s Motion for Sanctions in FDCPA Case appeared first on AccountsRecovery.net.

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Charitable Giving and Tax Strategies to Consider

Nerd Wallet

Everyone loves a win-win situation. And that’s the case with charitable giving and its tax benefits — you can do good for others while also doing good for yourself. When giving to charity, you can lock in tax deductions and save money for your heirs. Consider the following charitable giving tax strategies to help minimize. Tiffany Lam-Balfour 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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The FBI Warns Lawmakers That Banning Ransom Payments May Backfire

Troutman Sanders

Last month, we discussed ways lawmakers aim to limit ransomware response options that businesses may consider during an incident. State legislatures, such as New York, North Carolina, Pennsylvania, and Texas, have introduced bills that would prohibit certain entities from paying a ransom in the event of an attack. On July 27, Bryan Vordran, assistant director of the Federal Bureau of Investigation’s (FBI) cyber division, told federal lawmakers that if the legislature bans ransom payments, it wil

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How Do Travel Insurance Claims Work?

Nerd Wallet

Whether your flight has been canceled, your luggage is lost or you get sick or injured during your trip, travel insurance can protect you. But to get your benefits, you need to submit one or more travelers insurance claims, depending on your situation. Here’s how travel insurance claims work and what to watch out for. Lee Huffman writes for NerdWallet.

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Much Ado About … Not Very Much: FDCPA Plaintiff Wins $500 Judgment After Nearly Two Years of Litigation

Troutman Sanders

On July 22, U.S. District Judge Allyne Ross awarded summary judgment to a plaintiff who brought suit under the Fair Debt Collections Practices Act (FDCPA). The victory, however, could be Pyrrhic. Over the course of 20 months of litigation, what began as a five-count purported class action was whittled down to one individual claim that yielded a $500 statutory damages award.

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Auto Lease Buyout Calculator: How Much to Buy Your Leased Vehicle?

Nerd Wallet

If you’re thinking about keeping your leased vehicle, or maybe buying it to resell, a lease buyout calculator can help with your decision. You can input information about your current lease to see these estimates: Total amount you will pay to buy out your car lease (whether you use cash or take a loan). The. Shannon Bradley writes for NerdWallet. Email: sbradley@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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New Debt Collection Rule to Take Effect November 30, 2021

Troutman Sanders

On October 30, 2020, the Consumer Financial Protection Bureau (CFPB or the Bureau) released its long-awaited final debt collection rule — also known as Regulation F. The Bureau supplemented the rule on December 18, 2020 and both parts were adopted pursuant to the Bureau’s authority under the Fair Debt Collection Practices Act (FDCPA). On April 7, the CFPB issued a Notice of Proposed Rule Making (NPRM), which proposed delaying the effective date of the rule for 60 days.

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Jimdo Review for 2021: Features, Pricing, Top Alternatives

Nerd Wallet

If you’re looking for a simple, low-cost way to launch your website, there’s no doubt that you’ll be able to do that using Jimdo. With 12 distinct plans (10 paid and two free), Jimdo lets you choose the options best suited for your unique business needs — whether you’re creating a solely promotional website, or planning. Randa Kriss writes for NerdWallet.

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Back Tracking: Now is Not the Time to Abandon the Efficiencies You Were Forced to Adopt During the Pandemic

NCBA Law Practice Management Blog

As the COVID-19 pandemic begins to wane across the United States (maybe) , lots of folks are breathing cautious sighs of relief. It’s been a pretty crazy 16 months. Everybody is looking for a return to normalcy. But, your law firm shouldn’t be going back to normal. All those painful adjustments you made during the pandemic to get more digital, and to become more consumer friendly – make sure those stick around.

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The Pros and Cons of the Hilton Loyalty Program

Nerd Wallet

The Hilton loyalty program, Hilton Honors, is one of the big names when it comes to hotel rewards programs. With more than 6,500 properties in 119 countries and territories, members have a lot of options for earning and redeeming points. There are plenty of reasons to like Hilton Honors, including its 18 hotel brands, which span. Ramsey Qubein 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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PFAS: What’s Happening In Your State?

Burr Forman

Per- and polyfluoroalkyl substances, or “PFAS” as they are commonly known, are a group of thousands of man-made chemicals that have been manufactured in the United States and around the globe for several decades. These days, PFAS are a frequent topic of discussion for many environmental professionals, as affected clients make efforts to prepare themselves for seemingly inevitable regulation.

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Low-Orbit Satellites May Improve Banking for Developing World

Fico Collections

Will residents of the developing world thank their lucky stars as low Earth orbit (LEO) satellites start to usher in the next era of global digital transformation? Satellite internet service is just one of several off-world infrastructures currently in development. The most high-profile is probably SpaceX’s Starlink, closely followed by a competitive pack comprising Iridium, Boeing, Orbcomm, GlobalStar Amazon, OneWeb and Telesat, among others.

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New Study Warns of Global Merchant Sailor Shortage

NACM

The commercial shipping industry is on track to face a serious shortage of merchant sailors in five years if urgent action is not taken, according to the recent Seafarer Workforce Report from BIMCO and the International Chamber of Shipping (ICS).A merchant sailor shortage would further strain the already overwhelmed global supply chain. Commercial.

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New Guidance Confirms that Title IX Protections Apply to the LGBTQ+ Community

Fraser

The U.S. Department of Education’s Office of Civil Rights (“OCR”) recently issued a “ Notice of Interpetation ” confirming that Title IX protects students from harassment and discrimination based on their sexual orientation and/or gender identity. This guidance is consistent with the 2020 Supreme Court decision in Bostock v. Clayton County in which the Court ruled that sex discrimination against gay and transgender employees was prohibited under Title VII of the Civil Rights Act.

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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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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.