Account Recovery
JANUARY 12, 2024
A District Court judge in Ohio has dismissed a Fair Debt Collection Practices Act case because the plaintiff lacked standing to sue, even though he did allege some claims that have been considered sufficient for standing in the past (at least to my non-lawyer eyes).
Enterprise Recovery
JANUARY 12, 2024
While much of your budget planning was likely done in the fourth quarter, it's never too late to set your business up for success in the new year. Financial planning is valuable at any time - whether you're evaluating your business investments or measuring why your cash flow is slow. Read further to discover essential financial planning tips for business owners to ensure long-term success and growth.
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American Profit Recovery
JANUARY 12, 2024
You want to keep your hard-earned customers. We thought so! Sometimes as you well know, customers do not pay. But that does not mean you have to lose that customer. In many cases, something has prevented your customer from paying on time or meeting their financial obligations to your business. While there are obviously disputes that need to be worked out, sometimes a customer just needs a little time and assistance to get caught up with your business.
Account Recovery
JANUARY 12, 2024
The Consumer Financial Protection Bureau yesterday released a pair of advisory opinions related to the Fair Credit Reporting Act — one addressing inaccurate background check reports and the other reminding credit reporting agencies that consumers have a right to their entire credit file any time it is requested.
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.
PDC Flow
JANUARY 12, 2024
Courtney Reynaud , President and CEO of Creditors Bureau USA , has found success in her agency with careful attention to policies, procedures, and work instructions. But, she didn’t always have such a strong compliance management system. Before her office focused on these practices, she noticed blame would often be placed on a single employee or a client.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Credit Corp
JANUARY 12, 2024
A same-day credit card is also referred to as an instant-use credit card. When credit card providers offer this option, they provide tools that make it possible for you to make charges on the card immediately once you’re approved. This is in contrast to the traditional process, which requires you to wait for around two weeks until the actual credit card arrives via mail.
Account Recovery
JANUARY 12, 2024
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?
Jimerson Firm
JANUARY 12, 2024
Over the past few years, I have seen a rising trend in consumer lawsuits alleging violations of the FCCPA relating to the residential landlord-tenant relationship. These lawsuits may also allege a violation of the Florida Residential Landlord Tenant Act (FRLTA). Oftentimes, the alleged violation is based upon a 3-day notice sent by the landlord or the management company.
Account Recovery
JANUARY 12, 2024
In response to a new law enacted last month in New York, one of the three major credit reporting agencies has announced it will no longer include any medical debt for residents of the Empire State on their credit reports. The move affects 2.2% of the total amount of medical debt, according to the company.
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Hudson Weir
JANUARY 12, 2024
If you’re not sure what a company limited by guarantee is or what happens when it is insolvent, you’ve come to the right place. A private company limited by guarantee, also known as a CLG, differs from one limited by shares. For a company limited by shares, shareholder liability is limited to the capital originally invested by creditors. As with companies limited by shares, those limited by guarantee (LBG) are also governed by the Companies Act 2006 in the UK.
Credit Corp
JANUARY 12, 2024
A credit card balance transfer is the practice of moving debt from one credit card account to another. Typically, this is done to obtain better interest rates. Reports show that the average credit card debt is nearly $8,000. This amount may seem impossible to pay off, especially if you have high interest rates or your debt is spread across several cards.
Roths Child Law
JANUARY 12, 2024
Filing for bankruptcy is often treated as a last resort for those overwhelmed by debt, partially because there's a common misconception that it can lead to the loss of all of one’s personal assets. Thankfully, this is not accurate. Bankruptcy laws are designed not just to relieve debtors of their financial burdens, but also to allow them a chance to rebuild their financial future.
Troutman Sanders
JANUARY 12, 2024
On January 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued two “advisory opinions” addressing the CFPB’s views of the obligations of consumer reporting agencies (CRAs) under the Fair Credit Reporting Act (FCRA). The advisory opinions are interpretive rules issued under the Bureau’s authority to interpret the FCRA pursuant to § 1022(b)(1) of the Consumer Financial Protection Act of 2010.
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?
Price Meese
JANUARY 12, 2024
PMSD is proud to announce that Partner, Thomas C. Martin, Esq, will again attend the Transportation Lawyers Association Annual Mid-Winter Meeting and Conference between January 18, 2024 and January 19, 2024 at the Radisson Blu Hotel in Chicago. More information can be found at the Transportation Lawyers Association website: www.translaw.org. The post Thomas Martin to attend Transportation Lawyers Mid Winter Conference appeared first on Price, Meese, Shulman & D’Arminio, PC.
Troutman Sanders
JANUARY 12, 2024
On January 10, HB 254 , entitled the True Lender Act, was introduced before the Maryland House of Delegates. The Act would amend the Maryland Commercial Law to add an article containing both predominant economic interest and totality of the circumstance tests to determine the “true lender” of a loan. A hearing on HB 254 is scheduled on January 23. HB 254 contains an anti-evasion provision providing that a person must not attempt to evade the Act’s requirements by making, offering, assisting, or
NACM
JANUARY 12, 2024
On today's episode of the Extra Credit podcast. All credit management responsibilities stem from one essential skill—the ability to form strong relationships. Business relationships have many layers, all of which credit managers must master. In global trade, credit professionals should try to understand the cultural differences of their cus.
Troutman Sanders
JANUARY 12, 2024
As discussed here , during the summer of 2023, Representative Roger Williams (R-Texas) and Senator John Kennedy (R-La.) introduced identical Congressional Review Act (CRA) resolutions in the U.S. House and Senate ( H.J. Res. 66 and S. J. Res. 32 , respectively) disapproving the Consumer Financial Protection Bureau’s (CFPB or Bureau) implementation of the small business data collection and reporting final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Ru
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Troutman Sanders
JANUARY 12, 2024
In a change of course, the Utah court of appeals has reversed the dismissal of a plaintiffs’ suit against a debt collector based on its alleged failure to register as a collection agency prior to filing collection suits. While the Utah Collection Agency Act (UCAA) was repealed by the Utah legislature last year, discussed here , cases asserting this theory of liability remain pending before state and federal courts in the state.
Troutman Sanders
JANUARY 12, 2024
On January 9, the California Department of Financial Protection and Innovation (CA DFPI) announced a consent order with Credova Financial, LLC, (Credova) to resolve allegations that, in violation of the California Consumer Financial Protection Law, the company failed to disclose potential third-party fees to consumers. Pursuant to the settlement, Credova is required to pay a $50,000 penalty and disclose potential third-party convenience fees to consumers in the future.
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