Account Recovery

SEPTEMBER 8, 2020

As first noted by Eric Troutman at TCPAWorld.com, the federal government, in a brief filed Friday with the Supreme Court, thinks that the definition of an automated telephone dialing system starts and ends with technology that has the capacity to use a random or sequential number generator to store or produce telephone numbers. The government’s … The post Gov’t Adopts Narrow ATDS Definition in Supreme Court Brief appeared first on AccountsRecovery.net.

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Public Citizen

SEPTEMBER 8, 2020

Over the past several months, I have posted a number of articles about the campaign of intimidating copyright demand letters from Mathew Higbee, who tries to extract money from individuals, nonprofits and small businesses by threatening to file frivolous copyright lawsuits. This is the first in what I expect will be series of articles about a different sort of campaign of frivolous threats: companies that try to clean up their reputations by hiring lawyers to send frivolous threats of libel liti

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Account Recovery

SEPTEMBER 8, 2020

The Consumer Financial Protection Bureau today filed a lawsuit against Encore Capital Group, Inc. and its subsidiaries, Midland Funding, LLC, Midland Credit Management, Inc., and Asset Acceptance Capital Corp., accusing the companies of violating the terms of a 2015 consent order by suing consumers without possessing required documentation, using law firms and an internal legal … The post CFPB Sues Encore, Subsidiaries, for Violating Terms of 2015 Consent Order appeared first on AccountsRe

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Consumer Finance

SEPTEMBER 8, 2020

The Consumer Financial Protection Bureau today released the first episodes of a two-part podcast series for students, parents, and practitioners on managing finances before, during, and after college.

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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.

Account Recovery

SEPTEMBER 8, 2020

A payday lender is appealing an administrative law judge’s ruling that it should repay $132 million in restitution to individuals who were misled regarding the terms of the loans they originated, were wrongfully required to provide access to their bank accounts, and had money taken from those accounts without their approval. The Consumer Financial Protection … The post Payday Lender Appeals $132M Restitution Award appeared first on AccountsRecovery.net.

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Account Recovery

SEPTEMBER 8, 2020

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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Nerd Wallet

SEPTEMBER 8, 2020

Private equity is a form of investment that takes place outside the public stock market through which investors gain an ownership stake in private companies. Known as an alternative asset, private equity lets accredited investors and institutional investment firms diversify their portfolios and take on more risk in exchange for the potential to earn higher.

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Account Recovery

SEPTEMBER 8, 2020

The Second Circuit Court of Appeals has overturned a summary judgment ruling in favor of a defendant that was sued for violating the Fair Debt Collection Practices Act because it allegedly sent numerous debt collection notices and subpoenas to the wrong individual, determining that the collector should not have been entitled to invoke the bona … The post Appeals Court Overturns BFE in FDCPA Case Because Defense Lacked Proper Procedures appeared first on AccountsRecovery.net.

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Nerd Wallet

SEPTEMBER 8, 2020

Hotel lounges vary depending on brand, property and location. One thing they have in common is cutting your dining expenses, typically providing free breakfast and snacks throughout the day. Hyatt lounges are no different — quiet spaces with food, drinks, Wi-Fi and work areas for when you need a change of hotel scenery. We’ve compiled. Amanda Johnson is a writer at NerdWallet.

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Collections

Account Recovery

SEPTEMBER 8, 2020

APPEALS COURT OVERTURNS BFE IN FDCPA CASE BECAUSE DEFENDANT LACKED PROPER PROCEDURES The Second Circuit Court of Appeals has overturned a summary judgment ruling in favor of a defendant that was sued for violating the Fair Debt Collection Practices Act because it allegedly sent numerous debt collection notices and subpoenas to the wrong individual, determining … The post Daily Digest – Sept. 8.

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UK debt collections

SEPTEMBER 8, 2020

The UK’s Childcare Industry is facing real issues post pandemic. The loss of income from parent-paid fees since March is meaning that many childcare providers are facing major financial challenges. A total loss of income from childcare fees has put an estimated 25% of private-sector nurseries at risk of running a significant deficit during lockdown, with less than £4 of income for every £5 of costs.

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Burr Forman

SEPTEMBER 8, 2020

PPP loans under the CARES Act are being audited by the SBA. All PPP loans over $2 million will be audited, and many more under $2 million will be audited as well. Applying for forgiveness of a PPP loan increases the likelihood of an audit. An audit or “review” by SBA of a borrower and its PPP loan can result in an SBA determination that the borrower (1) was ineligible for a PPP loan; (2) was ineligible for the PPP loan amount received or used the PPP loan proceeds for unauthorized uses; (3) is

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PDC Flow

SEPTEMBER 8, 2020

This summer, Joann Needleman , financial services attorney at Clark Hill Law, launched the podcast “Credit Ecosystem To Go: Curbside Thought Leadership for Financial Services.” . The podcast, centered around consumer finance issues, provides “bite-sized” discussions with industry leaders. Each episode, she interviews a different expert, covering current hot topics impacting professionals and consumers. .

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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?

Banks

Nerd Wallet

SEPTEMBER 8, 2020

InterContinental Hotels Group, or IHG, is one of the largest hotel loyalty programs in the world. As a member of the IHG Rewards program, you can use your points to stay at nearly 5,900 hotels and resorts worldwide. While IHG no longer publishes an official award category chart, points may be used for stays at. Christie Olsen is a writer at NerdWallet.

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Troutman Sanders

SEPTEMBER 8, 2020

The Second Circuit Court of Appeals recently issued an opinion affirming the dismissal of a lawsuit because a debt collector’s failure to use the FDCPA’s precise language in its validation notice is not a violation of the FDCPA. In Chaperon v. Sontag & Hyman, P.C. , Chaperon alleged violations of 15 U.S.C. § 1692g and § 1692e related to a notice she received regarding past-due rent.

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Nerd Wallet

SEPTEMBER 8, 2020

If you’re a Chase Ultimate Rewards® collector then the Chase Freedom Unlimited® is nearly a must-have card for you. While the Chase Freedom Unlimited® has always been a well-designed card, recent changes to its bonus categories have vastly increased its earning potential and enabled savvy users to get even greater value out of their points. Alex Cramer is a writer at NerdWallet.

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On Guard

SEPTEMBER 8, 2020

Customers are more likely to default on invoices now due to pandemic-related cash flow problems. Only 17% of finance professionals are leveraging a personal touch to ensure invoices are paid on time. London, 8 September 2020 – The Covid-19 pandemic has caused an increase in finance professionals dealing with outstanding invoices from customers, according to nearly half (48%) of respondents surveyed by fintech company, Onguard.

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Collections

Better Credit Blog

SEPTEMBER 8, 2020

If you begin to hear from a debt collection agency called Pioneer Credit Recovery, it is likely because you have defaulted on a loan or forgotten to pay a bill. In addition to showing up on your call logs, they will also appear on your credit report as a collection agency. This can cause problems for your credit score and future financial goals. Collection accounts will continue to damage your credit score unless they are removed from your credit report.

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Payment Savvy

SEPTEMBER 8, 2020

Small businesses must adopt practices that keep revenue flowing to ensure future success. A widely used feature to accomplish this is the recurring payment. By allowing your customers to authorize automatic and continual payments to your business, your aging receivables are drastically slashed, and cash flow quickly predicted. Are you interested in learning how to set up a successful recurring payment program?

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Better Credit Blog

SEPTEMBER 8, 2020

If you owe an old landlord money on your rent, you may begin to hear from a debt collector called National Credit Systems. National Credit Systems is a third-party debt collector that has been hired on behalf of the original creditor to collect the debt from you. While National Credit Systems’ incessant phone calls are annoying, their presence on your credit report is even worse.

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On Guard

SEPTEMBER 8, 2020

Onguard CreditManager shortlisted for the 2020 Credit Connect Technology Awards. We are delighted to announce that we have been shortlisted for the 2020 Credit Connect Technology Awards , with our intelligent cloud-based CreditManager solution joining the shortlist for the Innovation in Credit category. Credit Connect’s Credit & Collections Technology Awards were launched in 2017 with the aim to reward technological innovation within the industry.

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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.

Better Credit Blog

SEPTEMBER 8, 2020

It could only take one missed payment on your car loan, credit card, or phone bill to harm your credit score and wind up on a debt collector like Northland Group’s list. Since your payment history constitutes 35% of your credit profile, and the longer a debt goes unpaid the more damage it does, a collections account can be devastating to your score.

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Collection Industry News

SEPTEMBER 8, 2020

Article 6 Investment Law 2020 stipulates that “Debt Collection Service” is one of the businesses that are prohibited from investment. This regulation will come into force on 1 January 2021, whereby service contracts for debt collection concluded before that will be invalidated.

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Burr Forman

SEPTEMBER 8, 2020

In episode 2 of the Women’s Podcast Series, Burr partner Callie Whatley discusses managing stress and anxiety during the current pandemic. She is joined by Carissa Dore, a licensed psychotherapist and owner of “Every Girl Living”, a company focused on helping women heal, grow, and conquer the challenges they face. Callie is a partner in the firm’s Birmingham office and serves as the firm’s Corporate and Tax Group Vice-Chair.

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Collection Industry News

SEPTEMBER 8, 2020

The Covid-19 pandemic has brought widespread uncertainty, confusion and hardship for many industries. Shelter-in-place orders and fear of contracting the virus have shifted both corporate and consumer behaviors, and business closures and job losses have generated significant financial insecurity. As the uncertainty continues into the second half of the year, businesses and consumers are bracing for an economic recession.

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