Wed.May 17, 2023

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23 Companies Seeking Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

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Case Update: Tenth Circuit Affirms District Court Decision Requiring Substantial Changes to Health Plan Denial Letters

Troutman Sanders

As discussed here , D.K. et al. v. United Behavioral Health et al. is a case that has been carefully watched in the health benefits space for its potential to change what health plan administrators must include in adverse benefit determination letters. On May 15, 2023, the Tenth Circuit issued its opinion affirming the district court and significantly heightening the notification requirements for adverse benefit determinations on medical necessity grounds.

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Trending Sources

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RCM Provider to Pay $350k to Settle HIPAA Investigation After Data Breach

Account Recovery

The Department of Health and Human Services’s Office for Civil Rights yesterday announced a $350,000 settlement with a revenue cycle management company that suffered a data breach back in 2018 and was accused of potentially violating the Health Insurance Portability and Accountability Act (HIPAA).

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FICO World 23: Unleashing the Power of FICO Platform

Fico Collections

Home Blog Feed test FICO World 23: Unleashing the Power of FICO Platform Creating next-generation customer experiences Tue, 05/16/2023 - 17:07 Saxon Shirley by Stephanie Covert EVP, Software expand_less Back to top Wed, 05/17/2023 - 16:25 An Engine for Next-generation Customer Experiences FICO World 2023, is an embodiment of the collective vision and dedication of leaders, change agents, and revolutionaries like our clients, who are shaping the future of customer experiences.

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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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Penn. AG Reaches $11M Settlement With RTO Company Over Lending, Collection Tactics

Account Recovery

The Attorney General of Pennsylvania has announced an $11 million settlement with a rent-to-own lender accused of engaging in predatory practices against low-income borrowers and engaging in deceptive collection practices. A copy of the settlement with Snap Finance can be accessed by clicking here.

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Daily Digest – May 17. Plaintiffs Voluntarily Dismiss FDCPA Suits Over Disputes; RCM Provider to Pay $340k to Settle HIPAA Investigation After Breach

Account Recovery

PLAINTIFFS VOLUNTARILY DISMISS FDCPA SUITS OVER FAILURE TO REMOVE DISPUTE FLAGS Is there a light at the end of the tunnel for companies facing claims that they did not remove a dispute notification from an account after a consumer rescinded a dispute?

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Documents Required to File a Consumer Credit Debt Collection Case

FFGN COLLECT NY

Legislative changes affecting consumer collections for consumer credit transactions recovery went into effect in 2022 largely as a result of the Consumer Credit Fairness Act (CCFA). The reforms were then codified into law through updates to the Civil Practice Law and Rules of New York. As a result, the law specifies documents required to file a consumer debt collection case in New York.

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Plaintiffs Voluntarily Dismiss FDCPA Suits Over Failure to Remove Dispute Flags

Account Recovery

Is there a light at the end of the tunnel for companies facing claims that they did not remove a dispute notification from an account after a consumer rescinded a dispute?

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AI: Impact and Use in the Financial Services Industry – Crossover Episode with Regulatory Oversight Podcast

Troutman Sanders

Financial services companies are using AI to assist with many business processes, including underwriting decisions, consumer credit approval, servicing and collections, loss mitigation programs, customer interaction on websites and mobile apps via chatbots, and in detecting fraud. In this fourth episode, Stephen Piepgrass and colleagues Chris Willis and Michael Yaghi examine the use and impact of AI in the financial services industry.

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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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Documents Required to File a Consumer Debt Collection Case

FFGN COLLECT NY

Legislative changes affecting consumer collections for tuition recovery went into effect in 2022 largely as a result of the Consumer Credit Fairness Act (CCFA). The reforms were then codified into law through updates to the Civil Practice Law and Rules of New York. As a result, the law specifies documents required to file a consumer debt collection case in New York.

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High-Risk Business with Stripe, PayPal, Square, Venmo

Payment Savvy

Certain activities, or the industry you work in, may cause payment processors to characterize your merchant account as high risk. It isn’t uncommon for some businesses to process online payments and get higher-than-average returns, but your reputation and industry play an important role. Having your merchant account suspended will undoubtedly lead to revenue loss and customer satisfaction, so knowing how to avoid the ban is pivotal.

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Mortgage rates rise as debt ceiling standoff drags on

Collection Industry News

Mortgage rates are beginning to feel the impact of the debt-ceiling standoff, jumping higher for the second week in a row amid the uncertainty. The 30-year fixed-rate mortgage averaged 6.57% in the week ending May 25, up from 6.39% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 5.10%. “The U.S. economy is showing continued resilience which, combined with debt ceiling concerns, led to higher mortgage rates this week,” said Sam Khater,

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Member Spotlight: Credit Executive of Distinction

NACM

What makes a credit professional stand out amongst the crowd? One great example is late leader and visionary O. D. Glaus, who embodied vision, energy, commitment and love for the credit profession. He blazed such a trail that NACM honored him by creating the NACM Credit Executive of Distinction, awarded to those who embodied that same spirit as exe.

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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?