Account Recovery

OCTOBER 17, 2022

Usually, when I write about cases being remanded back to state court, it’s not necessarily a good thing for the collector. In fact, it’s often the collector that sought to have the case heard in federal court in the first place. But, this time, a District Court judge granting a collector’s motion to remand a … The post MVN Not a Requirement Under Reg F, FDCPA, Judge Rules appeared first on AccountsRecovery.net.

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Collections 246

Nerd Wallet

OCTOBER 17, 2022

American Airlines just introduced a new way of earning AAdvantage elite status. American is calling its new status challenge program “Instant Status Pass.” As the name implies, targeted members can get AAdvantage elite status immediately just by registering. Then you can keep that elite status by reaching set Loyalty Point earning thresholds over the next.

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Account Recovery

OCTOBER 17, 2022

MVN NOT A REQUIREMENT UNDER REG F, JUDGE RULES In a case where a collection agency has sued its client for allegedly breaching their contract, a federal judge has granted a motion to remand the case back to state court, ruling the Model Validation Notice is not a requirement to be used under Regulation F. … The post Daily Digest – October 17.

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Student loans Student Loans Loans Collection Agencies 246

Fraser

OCTOBER 17, 2022

As we previously addressed in 2021, Congress passed the Corporate Transparency Act (“CTA”), which requires certain business entities to report the “beneficial ownership” of an entity to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCen”). The CTA is intended to deter activity such as money laundering, financing terrorism, and tax fraud, among other things.

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Credit Unions Credit Unions Acquisition Banks 90

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

OCTOBER 17, 2022

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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Account Recovery

OCTOBER 17, 2022

A District Court judge in Illinois has granted a plaintiff’s motion to remand a Fair Debt Collection Practices Act case back to state court, but in doing so made some comments that I found to at least make the ruling more enjoyable to read, if not also being possibly incredibly helpful for the defendants going … The post Judge Remands FDCPA Case Back to State Court, But Closes Door on Damages appeared first on AccountsRecovery.net.

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Fair Debt Collection Collections 245

Nerd Wallet

OCTOBER 17, 2022

Today, Mastercard announced an upcoming pilot program called Crypto Source that will allow traditional banks and other fintech companies to let their customers buy, hold and sell crypto assets. To offer these services, Mastercard is expanding its partnership with Paxos Trus Company, a blockchain infrastructure platform. Most crypto investors currently use crypto exchanges such as.

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Banks 79

Account Recovery

OCTOBER 17, 2022

While the federal government still works out all the kinks related to its plan to forgive student loan debt for individuals, the rest of the country is already moving on to the next type of debt they want to see forgiven — medical debt. More than 90% of respondents to a nationwide poll, including 84% … The post More Americans Favor Medical Debt Forgiveness Than Wiping Away Student Loan Debt appeared first on AccountsRecovery.net.

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Student loans Student Loans Loans Government 245

Consumer Finance

OCTOBER 17, 2022

ACTIVE Network generated more than $300 million in membership fees using digital dark patterns and online trickery.

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Collections

Nerd Wallet

OCTOBER 17, 2022

Travel doesn’t always go according to plan. Whether you’re an infrequent flyer or a top-tier elite, you may need the contact information for American Airlines to deal with a flight change, service failure, lost bag or refund request. And the best place to contact American Airlines differs for each one of these topics. Here’s our. JT Genter writes for NerdWallet.

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Consumer Finance

OCTOBER 17, 2022

The CFPB is suing ACTIVE Network, a payments platform used by families across the country to sign up for community activities, including camps and events sponsored by the YMCA, Girl Scouts, and charity race organizers.

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Nerd Wallet

OCTOBER 17, 2022

You’ve had your fun, enjoyed your stay at your hotel, and now it’s time to leave. But how do you go about checking out of the property? Well, it depends on where you’re staying. Different hotels have different policies regarding checkout, and not all of them have to be complicated. Let’s take a look at. Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com.

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Consumer Finance

OCTOBER 17, 2022

CFPB Director Rohit Chopra’s statement on a notice of proposed rulemaking to reduce bailout risk among a group of systemically important financial institutions and guard against increasing concentration in banking.

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Banks Financial Institution 68

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

Fico Collections

OCTOBER 17, 2022

Home. Blog. FICO. Open Banking in the Philippines and the Opportunities in the Data. How data sharing can improve credit risk decisioning. FICO Admin. Wed, 10/03/2018 - 23:42. by Mark Roberts. Senior Consultant, Analytics. expand_less Back To Top. Mon, 10/17/2022 - 07:00. . Open Banking in the Philippines - the path ahead. The launch of the Open Finance Framework by Bangko Sentral ng Pilipinas (BSP) in 2021 was a big step forward in driving financial inclusion for millions of Filipinos across t

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Banks Financial Institution Financial services Government 52

Collection Industry News

OCTOBER 17, 2022

Buckley LLP, October 16, 2022. On October 10, the North Carolina attorney general announced a consent judgment with the president and CEO of two debt collection companies (collectively, “defendants”). According to the AG, in 2019, the AG sued the defendants for allegedly engaging in illegal debt collection practices. The AG alleged that from 2012 to 2018, the CEO used his debt collection companies to buy unpaid consumer debt from a national corporation that sells rent-to-own household furniture,

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Collections Collection Companies Judgment 40

Consumer Finance

OCTOBER 17, 2022

CFPB Director Rohit Chopra’s statement on a vote finalizing an increase in deposit insurance assessment rates of two basis points.

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Banks 40

Collection Industry News

OCTOBER 17, 2022

BEN LUTHI, October 14, 2022. The Consumer Financial Protection Bureau (CFPB) has released a report detailing the fees and terms of banking products marketed to college students in partnership with their schools. The report not only highlights the lack of transparency in the partnerships between financial institutions and colleges but also suggests that marketing deals may not comply with rules set by the U.S.

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Banks Education Financial Institution Credit Unions 40

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Collections

Troutman Sanders

OCTOBER 17, 2022

On October 4, the White House Office of Science and Technology Policy released a set of five principles, known as the Blueprint for an AI Bill of Rights, designed to protect the rights of Americans in the age of artificial intelligence (AI). Developed over the course of a year, the principles are intended to help guide the design, use, and deployment of automated systems.

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Collections 52

Collection Industry News

OCTOBER 17, 2022

John T. Baxter, October 15, 2022. This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for non-bankruptcy practitioners and professionals. This entry will discuss sales of assets “free and clear” under section 363 of the Bankruptcy Code. Under section 363 of the Bankruptcy Code, a debtor-in-possession in a chapter 11 bankruptcy proceeding can seek court approval to sell some or all of the debtor’s assets, fr

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Debtor Bankruptcy Creditors Government 40

Troutman Sanders

OCTOBER 17, 2022

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 October 14, U.S. Representative and Chairman of the Select Subcommittee on the Coronavirus Crisis James Clyburn sent a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra to request that the agency review the nation’

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Financial services Banks Student loans Student Loans 52

Collection Industry News

OCTOBER 17, 2022

John BIERS, October 14, 2022. Large US banks reported a round of solid quarterly profits Friday, but cautioned of rising recession risks as the economy absorbs higher inflation and a dramatic shift is central bank policy. JPMorgan Chase set aside $808 million in case of bad loans, while Citigroup reserved for $370 million in potential losses and Wells Fargo, $385 million.

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Banks Loans Collections Government 40

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.

Price Meese

OCTOBER 17, 2022

The U.S. Department of Labor Introduces New Definition of Independent Contractors. Ellen O’Connell, Esq. October 17, 2022. With inevitable regularity, when there is a change in the political party of the President of the U.S., then there will be an equal and opposite change to the interpretation of the independent contractor rule by the US Department of Labor.

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Trade Government 52

Collection Industry News

OCTOBER 17, 2022

Kelli Grant, October 15, 2022. During the beta test, borrowers will be able to submit an application for student loan forgiveness. Those will be processed once the site officially launches. A preview of the application earlier this week suggested a full rollout could come as soon as next week, higher education expert Mark Kantrowitz said. The application is available at StudentAid.gov.

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Student loans Student Loans Education Loans 40

Collection Industry News

OCTOBER 17, 2022

ALDEN ABBOTT, October 14, 2022. This week, the Department of Labor (DOL) announced plans that could transform some workers in the internet-enabled gig economy from contractors into employees. The Federal Trade Commission (FTC) seems to believe that this great American success story also needs its help. But this has nothing to do with being “anticompetitive” — the industry is quite the opposite.

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Trade Legal Rights Collections 74