Wed.Oct 25, 2023

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28 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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Enhancing Credit Management with Automation and Real-Time Data

Qualco

Modern organisations harness technology to gain insights and foster stronger relationships throughout the credit lifecycle. For instance, Big Data Analytics allows for more precise risk assessments by analysing vast amounts of data on borrower information. Artificial Intelligence and Machine Learning automate credit scoring, making loan approvals swifter and more accurate.

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Lower-Income Households Falling Further Behind on Debt Payments

Account Recovery

Perhaps not necessarily a surprise to anyone, consumers with lower incomes are falling increasingly behind on their finances while continuing to spend beyond their means and reporting higher debt payments every month, while higher-income earners are concentrating their finances on paying down high-interest debts like credit cards, according to a report released this week by […]

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Can You Get Rid of a Timeshare if You File for Bankruptcy?

Sawin & Shea

Timeshares can be an enjoyable investment for you and your family. But they can be a significant financial burden as well. If you’ve landed in a fiscal jam, you may wonder if you can file bankruptcy on a timeshare. Declaring bankruptcy will discharge most of your debt, including your timeshare ownership Here is all the info you need on timeshare bankruptcies.

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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 MTD in FDCPA Case Over Lack of Claims

Account Recovery

A District Court judge in Ohio has granted a defendant’s motion to dismiss after it was sued for allegedly violating multiple statutes, including the Fair Debt Collection Practices Act, as well as a consent decree with the Consumer Financial Protection Bureau. A copy of the ruling in the case of Crenshaw v.

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Problems With Debt Collection Tactics Cited in CFPB Report on Student Loans

Account Recovery

An annual report released yesterday by the Consumer Financial Protection Bureau’s education loan ombudsman notes that three out of every four complaints filed by consumers about student loans had to do with how those loans are being serviced and collected, and references “coercive debt collection practices” related to the collection of private student loans as […]

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8 Ways to Consolidate Credit Card Debt 

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. Debt consolidation allows you to take multiple debts and combine them into one, and you can do this with your credit card debt.

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A Very Baby Bonds Day in Massachusetts

Prosperity Now

Baby Bonds took center stage in the Massachusetts legislature on October 24, as both the Joint Committee on Financial Services and Joint Committee on State Administration and Regulatory Oversight held hearings on

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Is No Credit Better Than Bad Credit?

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. Having no credit or bad credit both present different challenges. Bad credit can prompt frequent collection calls and take a long time to repair, while no credit can reduce your eligibility for most loans.

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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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A Guide to gaining Level 5 Diploma in Credit & Collections Management, MCICM (Grad.)

CICM

National Graduate Week is a celebration of academic and professional achievements. It is a time when we acknowledge the hard work, dedication, and aspirations of professionals across the UK. In this spirit of recognition and support, the Chartered Institute of Credit Management (CICM) takes pride in helping individuals achieve their career goals. In this blog, we offer insights into how you can achieve this esteemed qualification and the incredible benefits it brings to your professional journey

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How to Get a Loan With No Credit History

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. While it is possible to get a loan with no credit through some lenders, you may face high interest rates and unfavorable terms.

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Chronic Payments: Unraveling the Complexities of Cannabis Banking

Troutman Sanders

In the latest episode of Payments Pros , hosts Keith Barnett and Carlin McCrory are joined by Jean Gonnell and Agustin Rodriguez, co-leaders of Troutman Pepper’s Cannabis practice, to discuss the legal complexities that financial institutions face when dealing with the cannabis industry. Jean and Agustin give a high-level overview of the basics of cannabis, including federal and state regulations, and the specific expectations for financial institutions operating in this space.

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Prepared Remarks of Eric Halperin, CFPB Enforcement Director, at the NCLC Consumer Rights Litigation Conference

Consumer Finance

Eric Halperin, CFPB Enforcement Director, gave prepared remarks at the NCLC Consumer Rights Litigation Conference.

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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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CFPB Launches Rulemaking to “Jumpstart” Open Banking

Troutman Sanders

On October 19, the Consumer Financial Protection Bureau (CFPB) issued its highly anticipated notice of proposed rulemaking under Section 1033 of the Consumer Financial Protection Act of 2010 (CFPA). The proposed Personal Financial Data Rights Rule would require depository and nondepository entities to make available to consumers and authorized third parties certain data relating to consumers’ accounts, establish obligations for third parties accessing a consumer’s data, and provide basic standar

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The Future of Credit Management AI, Technology and Automation

CICM

Enhancing Efficiency Through Automation & AI Integration The credit management landscape looks vastly different compared to ten years ago. High performing teams and individuals are increasingly recognised as trusted business partners and have achieved this by continually leveraging new technologies. This transforms how efficiently the role can be performed and delivers more value to the business.

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Lenders Take Note: Federal Banking Agencies Issue Long-Awaited Community Reinvestment Act Final Rule

Troutman Sanders

On October 24, the Federal Reserve Board (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) finally issued their long-awaited final rule modernizing how they assess lenders’ compliance under the Community Reinvestment Act (CRA). The CRA was enacted in 1977 to address systemic inequities in access to credit and encourages banks to meet the credit needs of the entire community, including low- and moderate-in

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Exclusive CICMQ Best Practice Event with Aggregate Industries: Unveiling Sustainable Building Solutions and the Power of Credit Management

CICM

The latest CICMQ Best Practice Event, meticulously organised and hosted by Aggregate Industries, provided a unique platform for in-depth discussions on two distinct yet equally essential topics. We delved into the fascinating realm of sustainable building solutions, before exploring the powerful landscape of sourcing essential data with in-depth insights.

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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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Mortgage rates just hit 8%—should you still buy a home?

Collection Industry News

With average rates on 30-year fixed-rate mortgages hitting 8% on Wednesday, you might be thinking twice about buying a home, even if you can afford one. But if you’re trying to decide between buying now or waiting, remember that there’s no guarantee that rates or home prices will get cheaper in 2024. The real estate market hasn’t been favorable to buyers recently: Median home prices have shot up 26% since 2020.

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Member Spotlight: Test Your Credit Knowledge with Certifications

NACM

From risk mitigation to financial analysis, credit professionals are constantly learning. And no matter how long they've been in the credit industry, there's always something new to learn. By earning a designation through NACM's Professional Certification Program, credit professionals are not only tested on their credit knowledge, but they are grow.

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Bulk Messages Made Easy: PDCflow’s Flow Technology

PDC Flow

Have you ever used mail merge to send out lots of personalized emails at once? Now you can send bulk messages with Flow from the PDCflow app instead. Send out thousands of secure communications and payment requests at one time. Do you have a list of customers who all need your company’s updated terms? Or does your company policy for 2024 need to be sent out to all your organization’s employees?