Account Recovery

APRIL 25, 2023

The city council of Cleveland, Ohio last night approved legislation that will earmark nearly $2 million to purchase and forgive up to $190 million in unpaid medical debts for city residents, becoming the latest government entity to take measures aimed at lessening the medical debt burdens for its residents. The trend started last year in … The post Cleveland Becomes Latest Government to Tackle Medical Debt Burdens for its Residents first appeared on AccountsRecovery.net.

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Consumer Finance

APRIL 25, 2023

Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations.

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Account Recovery

APRIL 25, 2023

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 Complaint Accuses Collector of Withholding Info About Upcoming Credit Reporting Changes first appeared on AccountsRecovery.net.

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UK debt collections

APRIL 25, 2023

RENEWABLE energy company Daylight Energy has entered liquidation. It has gone bust owing millions and leaving customers thousands of pounds out of pocket. Latest energy company to hit problems Customers of Poole-based Daylight Energy say they have lost large sums of money in deposit payments after the company “disappeared” without any communication.

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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

APRIL 25, 2023

The Court of Appeals for the Tenth Circuit has affirmed the dismissal of a pair of Fair Debt Collection Practices Act cases involving the assignment of claims, ruling that tort claims are not assignable under state law in Oklahoma. A copy of the ruling in the cases of Dotson v. AWA Collections and Dotson v. … The post Appeals Court Affirms Dismissal of Assigned FDCPA Claims first appeared on AccountsRecovery.net.

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Account Recovery

APRIL 25, 2023

Only 7% of executives in the healthcare industry are currently very satisfied with the patient financial experience technology their facilities provide, and only 3% are very satisfied with the patient financial experience process, as a result of using legacy systems, fragmented solutions, and insufficient automation capabilities, according to the results of a recently released report. … The post Where Healthcare Facilities are Falling Short in the Patient Financial Experience first appeare

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Consumer Finance

APRIL 25, 2023

Director Chopra hosted a discussion with local community organizations, advocates, leaders, and members of the public about “zombie” second mortgages and other debt collection issues.

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Account Recovery

APRIL 25, 2023

COMPLAINT ACCUSES COLLECTOR OF WITHHOLDING INFO ABOUT CREDIT REPORTING CHANGES Filed in the “no good deed goes unpunished” category, a collection agency is being sued for violating the Fair Debt Collection Practices Act because a collector informed the plaintiff about a change to credit reporting guidelines, but did not provide details about a new policy … The post Daily Digest – April 25.

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Collections Law

APRIL 25, 2023

Medium-sized and large companies that are having trouble collecting on delinquent debts should act quickly. Time is of the essence – and that means you have no time for collection agencies. Did you know that collection agencies can’t force business debtors to pay? They can only contact the debtor again and again in an effort to persuade them to pay.

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Collections

Troutman Sanders

APRIL 25, 2023

On April 17, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new blog post , highlighting its current efforts in the credit card market. According to the post, interest rates on credit cards have risen substantially, with average rates over 20%. Implying that high interest rates are solely a result of lack of competition, the CFPB has: (i) published a proposed rule that would amend Regulation Z to decrease the safe harbor for credit card late fees; (ii) launched an update of

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Prosperity Now

APRIL 25, 2023

From Lauren Bealore, Associate Director of State & Local Policy at Prosperity Now In the last 4 years, state power

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Consumer Finance

APRIL 25, 2023

Five federal financial institution regulatory agencies in conjunction with the state bank and state credit union regulators (collectively, agencies) are jointly issuing this statement to remind supervised institutions that U.S. dollar (USD) LIBOR panels will end on June 30, 2023.

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Collection Industry News

APRIL 25, 2023

A debt doesn’t generally expire or disappear until its paid, but in many states, there may be a time limit on how long creditors or debt collectors can use legal action to collect a debt. In many states, statues of limitations are in place to prevent creditors and debt collectors from using legal action to collect on an older debt. Some debts, though, such as federal student loans don’t have a statute of limitations.

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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

Consumer Finance

APRIL 25, 2023

Today, the Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies, along with state bank and state credit union regulators, in issuing a statement that the use of United States Dollar LIBOR (USD LIBOR) panels will end on June 30, 2023.

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NACM

APRIL 25, 2023

NACM's Professional Certificate Program creates countless opportunities for credit professionals who seek growth in their careers. For example, if you apply to a managerial or supervisory position, companies want to know if you have the experience to back up the qualities needed to stand out. A candidate who has an NACM designation may be more like.

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