Tue.May 09, 2023

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SOL Disclosures Source of Issue in FDCPA Lawsuit

Account Recovery

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 SOL Disclosures Source of Issue in FDCPA Lawsuit first appeared on AccountsRecovery.net.

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CFPB Issues Guidance to Rein in Creation of Fake Accounts to Harvest Fees

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) issued a new circular affirming that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a consumer has already closed it.

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Judge Denies MTD in TCPA Class Action Even Though Plaintiff Pressed ‘2’

Account Recovery

A District Court judge in Missouri has denied a defendant’s motion to dismiss a Telephone Consumer Protection Act class action that alleged a debt collector used a prerecorded robotic message instructing the plaintiff to “press 2 if you are not this person.” The plaintiff pressed 2, the call ended, and the plaintiff filed this class … The post Judge Denies MTD in TCPA Class Action Even Though Plaintiff Pressed ‘2’ first appeared on AccountsRecovery.net.

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How To Get a Car Loan With Bad Credit [5 Steps + Tips]

Credit Corp

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Are you one of the 16% of Americans with a low credit score? Low scores can stick around from poor financial habits when you were younger or if you’re still working up your credit score.

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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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Appeals Court Vacates Part of Summary Judgment Ruling in FDCPA Case

Account Recovery

The Court of Appeals for the Ninth Circuit has vacated a lower court’s summary judgment ruling in favor of a collector that was accused of violating the Fair Debt Collection Practices Act, ruling the District Court judge made a mistake and should have considered a summary judgment motion filed by the plaintiff as a partial … The post Appeals Court Vacates Part of Summary Judgment Ruling in FDCPA Case first appeared on AccountsRecovery.net.

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Medical Billing Platform Raises $22M

Account Recovery

A platform that aims to help healthcare providers recover more of their accounts receivable on their own — without needing to place the accounts with collection agencies — has raised $22 million in a Series B fundraising, with the plan to accelerate its growth. Inbox Health is currently being used by more than 2,600 healthcare … The post Medical Billing Platform Raises $22M first appeared on AccountsRecovery.net.

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Statute of Limitations on Debt Collection by State

Credit Corp

Do you have bill collectors contacting you about unpaid debt? If so, it’s important to understand your rights. Even if you have debt that’s still unpaid, your creditors only have a certain amount of time to take legal action against you. So, before you think about talking to a bill collector or agreeing to a new payment arrangement, it’s important to know what the statutes of limitations are in your state.

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Daily Digest – May 9. SOL Disclosures Source of Issue in FDCPA Case; Judge Denies MTD in TCPA Class-Action Against Collector

Account Recovery

SOL DISCLOSURES SOURCE OF ISSUE IN FDCPA COMPLAINT Letting a consumer know about the statute of limitations can be a difficult needle to thread. There are often disclosures under state law that need to be made while collectors also look to caselaw and enforcement actions to see what judges and regulators have deemed to be … The post Daily Digest – May 9.

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How Much Is the Down Payment on a House: Debunking the Misconceptions

Credit Corp

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The amount of money you need for a down payment depends on the overall cost of the house as well as the type of loan you’re approved for.

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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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FDCPA Case Over Undated Model Validation Notice Dismissed for Lack of Standing

Troutman Sanders

In Bemero v. Lloyd & McDaniel, PC , the U.S. District Court for the Northern District of Illinois granted a motion to dismiss in a Federal Debt Collection Practices Act (FDCPA) case where the Model Validation Notice (MVN) was undated, finding the plaintiff lacked standing because she did not allege a concrete injury. The defendant collections firm sent the plaintiff an MVN that was undated.

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Asset Sale vs. Equity Sale: Key Considerations When Selling Your Business

Jimerson Firm

Selling a business requires evaluating several factors beyond settling on the right price. The choice between an asset sale and an equity sale is one of the most crucial yet frequently overlooked aspects of selling a business. Both asset and equity sales present distinctive advantages and disadvantages that warrant careful consideration when selling a business and selecting a transaction structure.

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Washington Federal Court Reiterates Distinction Between Furnishers’ and CRAs’ FCRA Investigatory Obligations and the Necessity of Alleging an Inaccuracy in a Consumer Report

Troutman Sanders

A district court in the Western District of Washington held that the Fair Credit Reporting Act (FCRA) does not require a consumer reporting agency (CRA), as part of its investigative duties, to issue an opinion on the legal validity of a consumer’s debt. Through its holding, the court denied the plaintiff’s motion for reconsideration and motion to amend her complaint ruling that its previous decision, granting judgment on the pleadings for the CRA, did not conflict with the Ninth Circuit’s decis

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A quarter of finance professionals see more customers unable to pay their bills

On Guard

17% have had to reorganise in their own organisation due to economically challenging times Amsterdam, 9 May 2023 – As many as 25% of finance professionals have more customers who are unable to pay their bills on time due to the tough economic times. This is according to the FinTech Barometer, Onguard’s survey on the financial status at Dutch companies , which was conducted for the sixth time this year.

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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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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities State Activities Federal Activities: On May 4, the Consumer Financial Protection Bureau (CFPB) published a report on high-cost specialty financial products, such as medical credit cards, sold to patients as a way to alleviate the growing costs of medical care.

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Uncovering Hidden Assets: Strategies for Locating Assets on Individuals and Businesses to Enforce Judgments

Collection Industry News

Introduction: When you’ve obtained a judgment in your favor, the next crucial step is enforcing it and recovering the owed amount. One significant aspect of the enforcement process involves locating assets belonging to the judgment debtor. By identifying these assets, you can explore avenues for garnishment, liens, or other means of debt recovery.

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How Renting Can Impact Your Credit

Credit Corp

Renting a home, apartment or town house can affect your credit in a number of ways. It’s increasingly common for credit reporting agencies to include positive rental history in consumer credit reports. Even in cases where your rent payments won’t get reported, the rent-credit relationship is important to consider. Having good credit can help you rent an apartment, and paying rent on time can help you build good credit.

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Member Spotlight: CBF Designation of Excellence

NACM

NACM's Professional Certification Program provides the necessary tools for credit professionals to build their careers. It takes dedication, patience and persistence to learn and earn those credentials and many credit professionals are able to apply the knowledge they have gained into their daily lives."I love the credit profession," said Yazmin Ye.

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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 a Jumbo Loan?

Credit Corp

A jumbo loan is a type of mortgage that surpasses the Federal Housing Finance Agency (FHFA) limitations and is used to finance expensive properties. If you’re looking to purchase a property or a home in a more expensive area, it’s important to understand how jumbo loans work. Many individuals use jumbo loans to finance properties that exceed conventional loan limits.

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