Account Recovery

AUGUST 12, 2022

The Consumer Financial Protection Bureau unequivocally announced yesterday that companies with “insufficient data protection or information security” are violating federal law while providing examples of “widely implemented data security practices” that companies can use as a guide to avoid such an accusation. Consumers have no control over how companies in the financial services industry safeguard … The post CFPB Warns Companies About ‘Shoddy’ Data Secu

Financial services 246

Financial services 246

Enterprise Recovery

AUGUST 12, 2022

If you're asking the question, you're likely dealing with a scenario of non-payment from a client and would like to avoid litigation. Simply put, a demand letter (or more than one!) is sent to your clients to inform them of your intention to collect what is owed to you. The letters are typically sent in conjunction with other first-party collection efforts before escalating the account.

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Collections 200

Account Recovery

AUGUST 12, 2022

A skiptracer that worked as part of a ring that obtained place-of-employment information about individuals with unpaid debts by pretending to be the debtors and created thousands of unemployment insurance applications to learn their last know place of employment has been sentenced to 45 months in prison following a five-day trial. Guy Cuomo, also known … The post Skiptracer Sentenced to Prison for Using Unemployment Insurance Applications to Obtain POE appeared first on AccountsRecovery.ne

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Debtor 246

Nerd Wallet

AUGUST 12, 2022

Major changes to prescription drug affordability for more than 50 million beneficiaries enrolled in Medicare Part D are likely on the way because of a bill headed to the president’s desk. The Inflation Reduction Act “finally delivers on a promise that Washington has made for decades to the American people … We’re giving Medicare the. Alex Rosenberg writes for NerdWallet.

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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

AUGUST 12, 2022

The only good thing that happens when an individual defaults on his or her student loan is that debt collectors make money, according to an Undersecretary at the Department of Education who was speaking during a virtual panel discussion earlier this week. Defaults do nothing more than “drive borrowers who are already facing financial hardships … The post Student Loan Debt Collection System Driving People Into ‘Deeper Hole’, Says Ed.

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Student loans Student Loans Loans Debt collector 246

Account Recovery

AUGUST 12, 2022

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 Collecting on Settled Debt appeared first on AccountsRecovery.net.

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Collections 246

Nerd Wallet

AUGUST 12, 2022

If you bought $100 worth of Bitcoin in early 2010, today you’d have more than $20 million. With those kinds of returns, it’s hard not to think, “Can I get in on that?” Bitcoin, the largest cryptocurrency by market cap, is a good investment if you have a high risk tolerance, are in a strong. Kurt Woock writes for NerdWallet. Email: kwoock@nerdwallet.com.

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Account Recovery

AUGUST 12, 2022

STAMFORD, Conn., Aug. 10, 2022 — Having already eliminated paid medical collection accounts with the introduction of VantageScore 3.0. in 2013, VantageScore has been the leader in recognizing that medical debts and collections that have been paid off are not predictive of a consumer’s creditworthiness. Today, VantageScore is announcing further steps in supporting consumers affected by medical … The post VantageScore Takes Steps to Further Support Consumers Affected By Medical D

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Creditworthiness Collections 245

Nerd Wallet

AUGUST 12, 2022

Speculation about a looming recession is putting pressure on many small-business owners to protect themselves against a downturn, and experts say it’s not too early to start preparing. A June 2022 Goldman Sachs survey of over 1,500 small businesses found that 93% are worried about a recession happening in the next 12 months, which could. Tina Orem writes for NerdWallet.

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Collections

Account Recovery

AUGUST 12, 2022

COMPLAINT ACCUSES COLLECTOR OF COLLECTING ON SETTLED DEBT A lawsuit has been filed in federal court in New Jersey accusing a collector of violating the Fair Debt Collection Practices Act for leaving a voicemail and then not subsequently sending a written validation notice even though the message appears to have been a limited-content message and … The post Daily Digest – August 12.

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Fair Debt Collection Collections 188

Nerd Wallet

AUGUST 12, 2022

No analyst or economist (or journalist) can know the future for certain. But if the past several months are any indication, it looks like we’ll continue to see a healthy increase in interest rates throughout the rest of 2022. There are quite a few macroeconomy mechanisms that can affect interest rates. Let’s break down how. Chanelle Bessette writes for NerdWallet.

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Banks 86

Troutman Sanders

AUGUST 12, 2022

This week, the Department of Justice (DOJ) resolved Servicemembers Civil Relief Act (SCRA) claims against two affiliated Virginia landlords for allegedly obtaining unlawful court judgments against military tenants. To settle the claims, the landlords agreed to pay restitution to affected servicemembers, a civil penalty to the United States, and various injunctive relief.

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Judgment Lender Financial services Collections 52

Nerd Wallet

AUGUST 12, 2022

Many U.S.-based airlines, including Alaska Airlines, Delta Air Lines and United Airlines, have relaxed airfare change and cancellation rules across the board and have made it easy to make changes to an already-issued ticket. You can update your travel dates and even a destination, but how flexible are the new rules? Is there a limit. Anya Kartashova writes for NerdWallet.

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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

Fraser

AUGUST 12, 2022

Court Ruling to Raise Minimum Wage, Paid Sick Leave Stayed Until February 2023. The recent Michigan Court of Claims ruling that the legislature’s “adopt and amend” strategy used in 2018 to limit the impact of ballot initiatives was unconstitutional has been stayed until February 2023. Why it Matters: Had it not been stayed, the ruling would have required Michigan businesses to, within 21 days, significantly increase minimum wages and paid sick leave for employees.

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Manufacturing Collections 40

Nerd Wallet

AUGUST 12, 2022

Comparison shopping is crucial if you want to save money on car insurance. Here’s why: Insurers look at similar factors, but they have their own “secret sauce” when it comes to setting rates. So two companies can charge wildly different rates for the same driver. How to compare car insurance quotes First of all, every. Kayda Norman writes for NerdWallet.

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Auto Insurance 74

NACM

AUGUST 12, 2022

?? This week's episode of the Extra Credit #podcast is all about the construction industry! Listen here. ?? As severe weather events become more common, the construction industry will play a pivotal role in disaster preparedness and recovery. But with more opportunity comes more risk.? Be sure to share with all your construction credit fri.

Construction 5

Construction 5

Nerd Wallet

AUGUST 12, 2022

Comparison shopping is crucial if you want to save money on car insurance. Here’s why: Insurers look at similar factors, but they have their own “secret sauce” when it comes to setting rates. So two companies can charge wildly different rates for the same driver. How to compare car insurance quotes First of all, every. Kayda Norman writes for NerdWallet.

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Auto Insurance 73

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Collections

Nerd Wallet

AUGUST 12, 2022

It’s important to sign up for a Medicare Part D prescription drug plan when you enroll in Original Medicare or Medicare Advantage. If you wait too long and sign up later, you’ll face a late enrollment penalty that permanently increases your Part D premiums. The penalty also applies if you drop your Medicare Part D. Alex Rosenberg writes for NerdWallet.

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Nerd Wallet

AUGUST 12, 2022

JetBlue Airways, based primarily out of the northeast United States, offers flights to over 100 cities in 25 countries. Founded in 2000, it’s now the country’s sixth largest airline and it consistently receives high praise for its customer service and Mint and Mint Studio business class seats. JetBlue’s loyalty program, TrueBlue, allows members to earn.

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Nerd Wallet

AUGUST 12, 2022

Buying an electric vehicle just got more complicated — but cheaper, if you can find the right model. The Inflation Reduction Act — a centerpiece of President Joe Biden’s plan to tackle climate change and reduce inflation — renews the existing $7,500 tax credit for new EVs and introduces a $4,000 credit for used EV. Benjamin Din writes for NerdWallet.

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Loans 68

Nerd Wallet

AUGUST 12, 2022

There are a few ways to dispute an issue on your credit report, including mailing a letter to the credit bureaus. Your credit dispute letter should detail the error (or errors) you found on your credit report. Your letter should also include copies of important documents to help the bureaus conduct an investigation. See a. Amanda Barroso writes for NerdWallet.

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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.