Wed.Jun 28, 2023

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20 Companies Seeking Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

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These words help define the future of debt collections

American Profit Recovery

There have been many shifts in the debt collection industry over the past several years. And the trends and updates that many in the collection industry have worked hard on, are moving the industry in a positive way. Everything from enhanced technology, a better understanding of the career opportunities in the collection industry as well as forward progress in the collaboration between industry leaders and government at all levels.

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CFPB Assesses $25M Fine for Software Test Gone Horribly Wrong

Account Recovery

The Consumer Financial Protection Bureau yesterday announced it had assessed a $25 million fine against ACI Worldwide for its role in a “fiasco” that impacted hundreds of thousands of borrowers worldwide. A copy of the consent order can be accessed by clicking here.

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Improve Online Business Reputation

Nexa Collect

Improving your online business reputation is essential in today’s digital age, where customers frequently rely on online reviews and social media presence before making purchasing decisions. Here are steps to help you improve your online business reputation: Monitor Your Online Presence : Regularly monitor what is being said about your business online.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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‘Tidal Wave’ of Collection Lawsuits Coming, Report Predicts

Account Recovery

A “tidal wave” of lawsuits seeking to collect and recover on unpaid debts is “imminent,” according to SoloSuit, a company that helps individuals respond to collection lawsuits. The report also ranked the companies that were plaintiffs in the most collection lawsuits and the law firms that filed the most lawsuits on behalf of creditors.

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What Would You Give Up to Get Out of Debt?

Account Recovery

If you’re of a certain age, you likely remember those “What would you do for a Klondike bar” commercials like the one below. Well, in similar fashion, a poll was conducted and people were asked what would you to be completely debt-free?

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Navigating the Debt Collection Process: Crucial Steps for Businesses

JMA

Effective debt collection is essential for businesses to maintain financial stability and ensure a healthy cash flow. While every business may do things a little differently, if they have a structured debt collection process in place, they can increase their chances of successfully recovering outstanding debts. If you’re not sure where to start with debt.

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Daily Digest – June 28. CFPB Assesses $25M Fine for Test Gone Horribly Wrong; ‘Tidal Wave’ of Collection Lawsuits Coming

Account Recovery

CFPB ASSESSES $25M FINE FOR SOFTWARE TEST GONE HORRIBLY WRONG ‘TIDAL WAVE’ OF COLLECTION LAWSUITS COMING, REPORT PREDICTS WHAT WOULD YOU DO TO GET OUT OF DEBT?

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The Future of Homeownership May Not Include Gen Z

Prosperity Now

Not too long ago, being able to afford a home in your early-to-late twenties was the regular American Dream; however, with an increase in mortgage rates and rent prices along with the influx of higher interest rates, Gen Z may be experiencing a dream deferred.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

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FFIEC Announces Availability of 2022 Data on Mortgage Lending

Consumer Finance

The Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.

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How to Write Effective Payment Request Emails

JMA

Prompt payment is essential for the financial health and stability of Australian small businesses. Asking for payment can sometimes be uncomfortable but mastering the art of requesting payment through email can significantly improve your collection efforts. To help you, we’ve put together a bit of a guide, tailored specifically for Australian small business owners, providing.

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What Not To Do Before Filing Bankruptcy

Sawin & Shea

People file for bankruptcy for any number of reasons, from sky-high medical expenses to loss of income and the inability to make their mortgage payments each month. In some cases, people have spent beyond their means, and now it’s time to repay their debts. But filing for bankruptcy isn’t a shameful or immoral act. In many cases, it’s a responsible, legal solution to address debt that can’t be paid down.

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Member Spotlight: Dedication Through Designations

NACM

Earning a designation is not only a great accomplishment that sets you apart, but it shows how dedicated you are in your career. And depending on the designation you earn, you can become an asset and help advance your company. The NACM Professional Certification Program has a variety of designations that credit professionals can earn in order advan.

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ERM Program Fundamentals for Success in the Banking Industry

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?

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Debt Ceiling Deal Undermines an Equitable Tax System

Prosperity Now

The debt ceiling deal reached by President Biden and Speaker Kevin McCarthy slashed an astonishing $136 billion in nondefense discretionary from the federal budget.

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