Sun.Apr 06, 2025

article thumbnail

Illinois Appeals Court Rules Consumer Not Required to Pay Arbitration Fees in Collection Lawsuit

Account Recovery

An Illinois state Appeals Court has sided with the consumer in a collection lawsuit, ruling that the consumer should not be required to initiate arbitration by filing the proper paperwork and paying the initiation fees if he wants to arbitrate the collection lawsuit filed against him. The background: The case began when the defendant allegedly defaulted on a credit card debt that was purchased by the plaintiff.

article thumbnail

Appeals Court Partially Reverses Dismissal of FDCPA Case Over Consumer Status and Debt Definition

Account Recovery

The Court of Appeals for the Fourth Circuit on Friday partially reversed the dismissal of a Fair Debt Collection Practices Act case over whether the plaintiff meets the statute’s definition of “consumer” and whether the debt is still a debt. The background: The lawsuit was filed after the defendant, a servicing corporation, sent two letters to the plaintiff concerning his residential mortgage loan.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Compliance Digest – April 7

Account Recovery

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.

article thumbnail

CFPB to Revisit Controversial Section 1071 Rule Under New Leadership

Account Recovery

The Consumer Financial Protection Bureau has officially signaled it plans to rewrite its small business lending data collection rule, known as Section 1071, following major leadership changes earlier this year. Why it matters: The Section 1071 rule, which expanded the data financial institutions must collect and report on small business lending, has faced strong legal and political opposition.

article thumbnail

Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.