Account Recovery

DECEMBER 27, 2022

A District Court judge in Florida has granted preliminary approval of a $2.8 million settlement in a Fair Debt Collection Practices Act class-action case involving convenience fees charged when consumers made payments on their mortgages over the phone or online. A copy of the preliminary approval in the case of Morris v. PHH Mortgage can … The post Judge Approves $2.8M Settlement in FDCPA Convenience Fee Class Action first appeared on AccountsRecovery.net.

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Fair Debt Collection Collections 246

Nerd Wallet

DECEMBER 27, 2022

Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia. The article Southwest Airlines’ Holiday Disaster: Now What? originally appeared on NerdWallet.

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Account Recovery

DECEMBER 27, 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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Nerd Wallet

DECEMBER 27, 2022

Josh Garber writes for NerdWallet. Email: travel@nerdwallet.com. The article Best Long-Term Travel Insurance originally appeared on 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

DECEMBER 27, 2022

APPEALS COURT UPHOLDS DISMISSAL OF FCRA CLASS-ACTION OVER CODE USED TO REPORT DEBT DURING PANDEMIC FORBEARANCE The Court of Appeals for the Ninth Circuit has affirmed a lower court’s ruling in favor of a defendant that was sued in a class action for violating the Fair Credit Reporting Act because of the code it used … The post Daily Digest – December 27.

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Account Recovery

DECEMBER 27, 2022

The Court of Appeals for the Ninth Circuit has affirmed a lower court’s ruling in favor of a defendant that was sued in a class action for violating the Fair Credit Reporting Act because of the code it used when furnishing information about the debt to credit reporting agencies while the account was in a … The post Appeals Court Upholds Dismissal of FCRA Class-Action Over Code Used to Report Debt During Pandemic Forbearance first appeared on AccountsRecovery.net.

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Loans 244

Troutman Sanders

DECEMBER 27, 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 December 23, the Federal Trade Commission (FTC) issued a proposed consent order, requiring Mastercard to end a practice that allegedly forced merchants to route debit card payments through Mastercard’s payment network in violation of the Du

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Financial services Banks Trade Retail 52

Account Recovery

DECEMBER 27, 2022

The Attorney General of Massachusetts has announced an enforcement action against a mortgage servicing company that will pay $975,000 for engaging in unfair debt collection practices by failing to provide compliant debt validation notices and calling individuals more frequently than is allowed by state law, while also failing to make required efforts to help individuals … The post Mortgage Servicer Reaches $975k Settlement with Mass.

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Collections 237

Nerd Wallet

DECEMBER 27, 2022

JT Genter writes for NerdWallet. Email: travel@nerdwallet.com. The article The Guide to Oneworld Lounges originally appeared on NerdWallet.

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Collections

Collection Industry News

DECEMBER 27, 2022

This bestseller by Marketdata examines the $15 billion business of debt collection agencies. Complaints by consumers about harassment by collectors still exists and tops the list of complaints to the FTC. Federal and state regulations have reduced recovery rates, resulting in slow growth. However, the Covid-19 pandemic really didn’t hurt this business, as consumers used stimulus payments and enhanced unemployment benefits to pay down their debts in 2020.

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Collection Agencies Collections Agency Collections Bankruptcy 40

AGA

DECEMBER 27, 2022

From The Virtual Credit Manager. 8 Factors to Consider When Evaluating Customer Creditworthiness & the 5 Primary Data Sources that Inform Credit Decisions. Creditworthiness refers to a business’s ability to repay its debts. A customer that has a history of paying their debts on time and in full has clearly been creditworthy, but will they continue to pay within terms on their next order, or six months from now, or a year from now?

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Creditworthiness Credit Management Collections 40

NACM

DECEMBER 27, 2022

The U.S. economy grew faster than initially thought in Q3 at 3.2% year over year, up from the 2.9% estimate—sparking fears that the Fed could raise interest rates more than expected in 2023. However, "The final GDP report is one of most backward-looking readings the government releases, looking at the state of the economy nearly three months a.

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