Tue.Jan 26, 2021

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Daily Digest – January 26. Judge Uses New Standing Rulings to Grant MTD; How Agencies Can Invoke BFE When Texting, Emailing

Account Recovery

NDIL JUDGE USES NEW STANDING RULINGS TO GRANT MTD IN FDCPA LETTER CASE In one of the first cases to reference a series of rulings from the Seventh Circuit Court of Appeals on the issue of plaintiffs’ standing to sue, a District Court judge in Illinois has granted a defendant’s motion to dismiss a Fair … The post Daily Digest – January 26.

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What Hopeful Home Buyers Will Need to Succeed in 2021

Nerd Wallet

Buying a home is a major endeavor, no matter when you do it. For those hoping to buy in 2021, an ongoing recession and global pandemic only add to the headwinds. More than 1 in 10 Americans (11%) say they plan on buying a house in the next 12 months, according to NerdWallet’s 2021 Home. Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.

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Bedard: How Agencies Can Invoke BFE Defense When Communicating Via Email, Text Message

Account Recovery

“Why did you think it was ok to not wear a mask when you went outside to play with your friends?” “Because nobody else was wearing one.” “If everyone else jumped off the Brooklyn Bridge, would you do it, too?” How many times have we said or heard that line? Doing something we probably should … The post Bedard: How Agencies Can Invoke BFE Defense When Communicating Via Email, Text Message appeared first on AccountsRecovery.net.

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Will There Be Relief for Private Student Loan Borrowers?

Nerd Wallet

Over the past year, more than 20 million federal student loan borrowers have been able to pause their payments to cope with pandemic-induced financial stress — a postponement that President Joe Biden recently extended through September 2021. But those who have private student loans? Not so much. Private student loans represent about 8% of total. Anna Helhoski 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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NDIL Judge Uses New Standing Rulings to Grant MTD in FDCPA Letter Case

Account Recovery

In one of the first cases to reference a series of rulings from the Seventh Circuit Court of Appeals on the issue of plaintiffs’ standing to sue, a District Court judge in Illinois has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case because the “stress, anxiety, and worry” felt by … The post NDIL Judge Uses New Standing Rulings to Grant MTD in FDCPA Letter Case appeared first on AccountsRecovery.net.

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Calls to Cancel Student Loan Debt Strengthen

Account Recovery

There is growing sentiment within Congress, the Biden administration, and the general public for some or all of existing student loan debt to be wiped out, according to a published report and the results of a recently released poll. Nearly two-thirds of respondents to a poll indicated they were in favor of forgiving a flat … The post Calls to Cancel Student Loan Debt Strengthen appeared first on AccountsRecovery.net.

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Top Financial Services Podcasts for AR and Consumer Finances

PDC Flow

Managing your business while staying informed about current industry events can be difficult to balance. Luckily, with podcasts becoming more popular than ever, you can access knowledge from industry experts at any time. . However, wading through all of the content available can be intimidating. Here are just some of the many financial services podcasts available centering on accounts receivable , consumer finance and other aspects of business that can strengthen your skills and keep your compan

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What Is the Student Aid Index?

Nerd Wallet

The Student Aid Index is a rebranding of Expected Family Contribution, or EFC. The new name is meant to clear up confusion about what EFC actually is: A number that colleges use to determine how much financial aid you can receive. It’s not, as the name suggests, the amount your family is expected to pay. Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com.

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Federal Preemption Does Not Always Constitute Grounds For Removal: Court Rejects Removal Based On FCRA And FDCPA Preemption Claims

Troutman Sanders

On January 20, 2021, the Southern District of New York granted Emmanuel Torres’ (“Torres”) motion to remand to state court, holding that Wakefield & Associates’ (“Wakefield”) and Rural Metro Ambulance Corporation’s (“Rural Metro”) argument for removal did not constitute “complete preemption.”. In Torres v. Wakefield & Assocs. , Torres filed a complaint in the New York Supreme Court against Wakefield and Rural Metro stating solely state law causes of action.

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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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GoDaddy Bookkeeping: Guide to Cost, Features and More

Nerd Wallet

GoDaddy Bookkeeping software from GoDaddy (best known as a web domain registrar) is designed for users who are selling online and want a secure and fast way to manage their books — no accounting experience needed. The product is primarily used by small businesses selling on Amazon, eBay, Etsy, and GoDaddy’s online store platform. The. Bob Violino writes for NerdWallet.

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Service Fee Language in Debt Collection Letters: District Court for the Eastern District of California Grants Defendants’ Motion to Dismiss FDCPA Claims

Troutman Sanders

In Martinez v. Integrated Capital Recovery, LLC, Judge Ishii of the District Court for the Eastern District of California granted the Defendants’ motion to dismiss two Fair Debt Collection Protection Act claims brought by Brandon Martinez, Plaintiff, on behalf of a class of similarly situated individuals. In its ruling, the Court reiterated that a debt collector does not violate the FDCPA by taking collection actions permitted by the underlying contracts.

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When You’re Ready to Travel, Should You Still Fly Delta Air Lines?

Nerd Wallet

Although many travelers still aren’t ready to set foot on a plane, others have begun taking to the skies. At one point, perhaps when the COVID-19 vaccine is more accessible, more and more passengers will consider air travel again. Unless you’re a loyal customer to one airline, you might be switching your preference to carriers. Anya Kartashova writes for NerdWallet.

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Photo Storage App Agrees to Erase Biometric Data to Resolve FTC Claims

Troutman Sanders

On January 11, the Federal Trade Commission (FTC) announced it has settled with a California-based photo app developer involving allegations that it was building and using its users’ photos and videos to create facial recognition technology without their express consent. Facial recognition software is typically comprised of three steps: detection, mapping, and identification.

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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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5 Reasons a Hotel Beats a Vacation Rental in the Pandemic

Nerd Wallet

If you must travel during the coronavirus pandemic, is it better to stay in a hotel or a vacation rental, like an Airbnb? “A lot of people feel — wrongly and rightly — that rentals are safer than hotels,” said Pauline Frommer, daughter of travel guidebook author Arthur Frommer, in a speech to a virtual. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com.

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Are You Ready for Your PPP Loan Audit?

Burr Forman

PPP loans received by individuals and businesses under the CARES Act will be audited (“reviewed”) by the SBA. The new Economic Aid Act also requires the SBA to submit a forgiveness audit plan within 45 days after enactment and report updates every 30 days thereafter. Additionally, the Economic Aid Act now allocates $50 million for PPP audits and fraud mitigation efforts.

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5 Things to Know About the Hotels.com Rewards Visa Credit Card

Nerd Wallet

The Hotels.com Rewards Visa from Wells Fargo offers decent rewards value for your spending, coupled with an annual fee of $0 and the flexibility of not being tied to one hotel chain. But what about aspirations of using rewards to book a free plush room in an exotic location? Not so much. Let’s just say. Gregory Karp writes for NerdWallet. Email: gkarp@nerdwallet.com.

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Factually v. Legally Inaccurate Information, The Difference Matters: Court Rejects FCRA Claims Based on Disputed Legal Issue

Troutman Sanders

On January 21, 2021, the United States District Court for the Northern District of Illinois granted TransUnion Data Solutions LLC’s (Trans Union) motion for judgment on the pleadings, denying Blue Sobenes’ (Sobenes) claims against Trans Union under sections 1681i(a) and 1681e(b) of the Fair Credit Reporting Act (FCRA). In Sobenes v. Transunion Data Sols. , Sobenes charged goods and services on a credit card issued to her by Comenity Bank, which subsequently charged off and then sold the account.

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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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Hyatt Will Offer Free COVID Tests at Some International Resorts Due to New Requirements

Nerd Wallet

As the travel industry grapples with new requirements that passengers must present a negative coronavirus test before boarding U.S.-bound flights, one big hotel chain has a plan to encourage Americans to keep traveling abroad. Hyatt announced today that it will now offer free, on-site COVID-19 testing options for guests traveling to the U.S. from all.

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How To Collect A Debt From A Customer

Taurus Collect

There’s Never Been A More Important Time Know How To Collect A Debt From A Customer. If you are wondering how to collect a debt from a customer (and let’s face it all business owners should sit up and take note of this as we start getting into 2021), we have put together a simple step-by-step guide on the most effective strategy to maximising your collection efforts, and thus increasing cashflow for your business.

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First in the Family to Invest: How I Saved Almost $700K

Nerd Wallet

This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Growing up in rural Missouri, money was tight for Anthony Hammond. “I joke, I come from the type of family where they don’t read. Kevin Voigt writes for NerdWallet.

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Northern District of Florida Picks Side in Creasy Split

TCPA

In the aftermath of Barr v. American Association of Political Consultants, Inc.

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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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Lufthansa Miles & More Rewards for Beginners

Nerd Wallet

As a member of the Star Alliance, Lufthansa Airlines’ Miles & More program works with partner airlines that allow you to redeem miles to fly almost anywhere in the world. Plus, Lufthansa’s first class cabin, which you can book with miles, is one of the most luxurious ways to fly from the U.S. to Europe. Rand Shoaf writes for NerdWallet. Email: travel@nerdwallet.com.

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How to create a business case for software implementation

On Guard

How to create a business case for software implementation – Carl Lancaster, Peninsula. Often in business, we come up against challenges or problems which require investment in a solution. However, to justify the expense and ensure the solution delivers true value, it’s important to create a business case. This helps organisations understand what it is they want and need from new software and its overall impact on the business.

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How to Maximize the AmEx Business Platinum Card

Nerd Wallet

The Business Platinum Card® from American Express offers an excellent combination of rewards, benefits and premium travel perks in exchange for a $595 annual fee. It regularly ranks among the top luxury travel credit cards for business owners thanks to benefits like airport lounge access, hundreds of dollars in annual credits for travel and other. Eric Rosenberg writes for NerdWallet.

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Out With the Old, In With the Old? Dave Uejio as Acting CFPB Director Until Rohit Chopra is Confirmed and Sworn In

Troutman Sanders

On January 20, the White House announced the acting agency leadership in the next phase of the transition of government. As part of that transition, President Joe Biden appointed Dave Uejio to serve as the acting director of the Consumer Financial Protection Bureau (CFPB). This news followed on the same day Director Kraninger, appointed by former President Donald Trump, resigned to adhere to the wishes of the new administration.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.