Thu.Feb 22, 2024

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Getting to Know Robert J. Reilly of RTR Financial Services

Account Recovery

I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support.

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Football Club facing liquidation unless buyer found

UK debt collections

Well known Northern English Football club Rochdale FC are facing the very real prospect of liquidation as things stand. Rochdale currently sit mid-table in the National League and its not just on the field that they have being having problems. They need new investment by the end of March otherwise the National League club could face the prospect of liquidation, chairman Simon Gauge has warned.

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State Raises Nearly $23,000 for Special Olympics

Account Recovery

(MADISON, Wis., February 21, 2024) – On a recent Saturday morning, 10 State team members jumped into the freezing waters of Madison, Wis., to raise money for Special Olympics!

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Recent Trends and Common Allegations in FCCPA Litigation

Jimerson Firm

The Florida Consumer Collection Practices Act (FCCPA) is a pro-consumer statute. Unlike the FDCPA, which only applies to debt collectors, the FCCPA applies to all persons or businesses collecting consumer debts. As such, all businesses need to be aware of the statute and the risk and potential liability associated with the statute. Over the past few years, there have been new trends relating to the FCCPA and consumer litigation in general.

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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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State Appeals Court Overturns Ruling in Favor of Debt Buyer on Grounds it Did Not Have Enough Proof it Bought Account in Question

Account Recovery

In a ruling that could cause ripples throughout the debt buying and collection industry, a state Appeals Court in Virginia has overturned a lower court’s decision in favor of a debt buyer, ruling that the debt buyer had “scanty and incomplete” evidence to prove it owned the debt and thus had a right to collect […]

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Collector to pay $1M Fine Under Settlement with Washington AG

Account Recovery

On the eve of a start of a trial against two debt collection companies, the Attorney General of Washington yesterday announced that one of those companies had reached a settlement that will see it pay $1 million after it was accused of violating state law by failing to provide disclosures related to charity care and […]

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February 2024 – An Ounce of Prevention is Worth a Pound of Cure

Jimerson Firm

Featured in the February 2024 Issue: Partner’s Perspective: An Ounce of Prevention is Worth a Pound of Cure “An ounce of prevention is worth a pound of cure.” That is the advice Benjamin Franklin gave to the city of Philadelphia in hopes of protecting the city from disastrous fires. Mr. Franklin sagely posited that time and money spent preventing fires is a more efficient and effective use of resources than spending time and money fighting fires.

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New Wave of AI Tech Making it Easier for Consumers to Complete Tasks, Talk to Live Representatives

Account Recovery

The next wave of devices and services powered by artificial intelligence is here and they aim to make it easier for consumers to take care of errands and tasks easier than ever before.

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Status of the DOJ’s Combatting Redlining Initiative

Troutman Sanders

In this episode of The Consumer Finance Podcast, host Chris Willis and guest Lori Sommerfield discuss the status of the Department of Justice’s (DOJ) Combatting Redlining Initiative. The initiative, which has been underway for over two years, involves all federal financial institution regulators, including the OCC, FDIC, Federal Reserve Board, CFPB and HUD, and has resulted in a significant number of redlining cases brought by the DOJ.

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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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Daily Digest – February 22. Getting to Know Robert J. Reilly of RTR Financial Services; State Appeals Court Overturns Ruling in Favor of Debt Buyer

Account Recovery

Getting to Know Robert J.

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Biden cancels $1.2bn in student loan debt for 153,000 people

Collection Industry News

Move will forgive debts of people who borrowed $12,000 or less and have been repaying the money for at least 10 years. US President Joe Biden has said that his administration was cancelling $1.2bn worth of student loans for almost 153,000 people. Biden, who is undertaking a three-day campaign swing through California, made the announcement on Wednesday as part of a new repayment plan that offers a faster path to forgiveness.

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Republican Representatives Urge CFPB to Revisit Proposed Payment App Rule

Troutman Sanders

Recently, three Republican members of the U.S. House of Representatives’ Financial Services Committee, Patrick McHenry, Mike Flood, and French Hill, sent a joint letter to the Consumer Financial Protection Bureau (CFPB or Bureau) urging the agency to reopen the comment period and reconsider its November 2023 proposed rule regarding digital consumer payment applications.