Account Recovery

OCTOBER 11, 2021

A District Court judge in Ohio has awarded a plaintiff more than $70,000 in damages and attorney fees after a default judgment was entered against a defendant in a Fair Debt Collection Practices Act case that accused the defendant of not properly identifying itself as a debt collector in conversations between the two and for … The post Judge Awards Plaintiff $70k in Damages, Attorney’s Fees in FDCPA Case appeared first on AccountsRecovery.net.

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Credit Corp

OCTOBER 11, 2021

According to a study from Tessian , the vast majority of people who share things online put their identities at risk. People know not to share information such as their Social Security number on social media, but did you know you could be giving up sensitive information without realizing it? For example, the Tessian study noted that 72% of people mention birthday celebrations, giving hackers insight into when their date of birth is.

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Account Recovery

OCTOBER 11, 2021

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

OCTOBER 11, 2021

Hilton’s loyalty program, Hilton Honors, boasts an impressive 118 million members worldwide — and for good reason. The program allows members to redeem points for award stays at over 5,900 properties across 119 countries in the greater portfolio of more than a dozen brands, from Waldorf Astoria to Hampton by Hilton. With so many options, Paul Rubio 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

OCTOBER 11, 2021

The Department of Education on Friday announced the creation of a new enforcement office that will watch over postsecondary institutions to “vigorously” ensure that rules are being followed and named an individual that should be familiar to many in the accounts receivable management industry to run the office. The Office of Enforcement within Federal Student … The post Ed.

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Account Recovery

OCTOBER 11, 2021

A lot of money is flowing into the medical billing and revenue cycle management side of the healthcare industry, according to a published media report, to help hospitals and medical practices maximize “every dollar they can collect from patients and insurers.” The report highlights activity from revenue cycle management companies that have filed to go … The post Interest in RCM Space Heating Up appeared first on AccountsRecovery.net.

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Troutman Sanders

OCTOBER 11, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge.

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Account Recovery

OCTOBER 11, 2021

JUDGE AWARDS PLAINTIFF $70K IN DAMAGES, ATTORNEY’S FEES IN FDCPA CASE A District Court judge in Ohio has awarded a plaintiff more than $70,000 in damages and attorney fees after a default judgment was entered against a defendant in a Fair Debt Collection Practices Act case that accused the defendant of not properly identifying itself … The post Daily Digest – October 11.

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On Guard

OCTOBER 11, 2021

Fintech Barometer: insights and trends in order-to-cash in the United Kingdom and the Netherlands between 2018 and 2021. In recent years, the Visma | Onguard Fintech Barometer has grown into an indicator of the credit management and order-to-cash landscape. For those who are not yet familiar with it: the Fintech Barometer is an extensive annual survey of financial professionals, which we have now conducted in the Netherlands and the United Kingdom for four consecutive years.

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Credit Management Collections 52

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Collections

Account Recovery

OCTOBER 11, 2021

Ogden, Utah – PDCflow, in partnership with a leading Merchant Service Provider (MSP), now supports the ability to reduce costs while collecting online credit card payments with Zero Cost Processing. Through this feature, merchants can charge consumers a Technology Fee for the hardware, software and security for online transactions, replacing the traditional MSP billing structure. … The post PDCflow Releases Support for Zero Cost Processing to Merchants appeared first on AccountsRecovery.ne

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Collections 237

Fraser

OCTOBER 11, 2021

In August, Senator Brian Schatz introduced the Beyond the Box for Higher Education Act (Senate Bill 2634) in the U.S. Senate. If enacted, the legislation would encourage (not require) colleges and universities to remove criminal and juvenile justice questions from their admissions applications by providing guidance and training schools to change their policies.

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Price Meese

OCTOBER 11, 2021

Partner Thomas C. Martin is proud to announce his most recent article for the Community Associations Institute’s magazine Community Trends. Entitled, Wish You Were Here: Pending Legislation Regarding Participation In Meetings Via Remote Means,” his article explores the current state of the law on remote video meetings and legislative efforts to make remote video meetings more convenient and accepted for general corporate purposes.

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Collection Industry News

OCTOBER 11, 2021

Source: site. Debt recovery agency Everyday collected €15.6 million on behalf of its clients last year, almost double the amount recorded a year earlier. The increased collections helped the company achieve a significant rise in revenues, which increased to nearly €5 million from €3.03 million in 2019. Pre-tax profits also rose, increasingly to €1.9 million from €638,478 in the prior year.

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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

Fico Collections

OCTOBER 11, 2021

Does FICO’s minimum scoring criteria limit consumers’ access to credit? . Simply put, the answer is no. Over the last 30 years, FICO has continued to analyze the minimum amount of credit bureau data that is necessary to deliver a reliable, predictive FICO® Score to the market - which benefits both consumers and lenders alike. As a reminder, we have found that at least 6 months of credit history, as well as data reported within the past 6 months, is required in order to best ensure that the consu

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Collection Industry News

OCTOBER 11, 2021

Source: site. The CFPB issued the updated Filing Instructions Guide (FIG) for the data collected in 2022 that firms will report in 2023. The 2022 FIG is a compendium of resources to help annual filers of HMDA data that they collect in 2022 and submit to the CFPB in 2023. The FIG breaks down the expectations for files, data, and edits to the data.

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Nerd Wallet

OCTOBER 11, 2021

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion about how to get what you want out of a new job. Then we pivot to this week’s money question from Charlie in San Diego, who sent us an email: “I’m a 28-year-old single male. Liz Weston writes for NerdWallet. Email: lweston@nerdwallet.com.

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Collection Industry News

OCTOBER 11, 2021

Source: site. After the United States Senate recently voted to temporarily raise the nation’s debt limit, a sigh of relief was likely emitted by many. However, it’s now right back to the Federal Reserve as one of the primary players to watch in the current state of the U.S. and global economic system. While behemoths like Apple (NASDAQ: AAPL ), CocaCola (NYSE: KO ), and Western Union (NYSE: WU ) may be focused on a recent increase in international corporate taxes, for many it seems wai

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Collections

Price Meese

OCTOBER 11, 2021

The Fair Chance in Housing Law-What Landlords and Realtors Should Know. Edward W. Purcell, Esq. On June 18, 2021 Governor Murphy signed P.L. 2021, c. 110 (“Chapter 110”), also known as the “Fair Chance in Housing Law.” Chapter 110 gives rights to certain persons with criminal backgrounds with respect to their housing opportunities. Put simply, the law was enacted to help secure better housing for New Jersey residents with criminal backgrounds that may otherwise not be able to obtain adequate hou

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Manufacturing 10

Collection Industry News

OCTOBER 11, 2021

Source: site. Data privacy legislation continues to gain momentum across the U.S., with two more states passing laws that give consumers more control over how businesses use their personal information. Virginia and Colorado both enacted laws this year that take effect in 2023, joining California, whose first-in-the-nation comprehensive statute is poised to become more stringent in 2023, experts say, when provisions from a ballot initiative approved last November go into effect.

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Collection Industry News

OCTOBER 11, 2021

Source: site. The Consumer Financial Protection Bureau (CFPB) today settled a lawsuit against the nation’s largest reverse mortgage lender for allegedly sending consumers inflated home valuations. In a lawsuit filed today in the U.S. District Court of California’s Central District, the CFPB alleged that Irvine, California-based American Advisors Group (AAG) sent borrowers deceptive and inflated home estimates in direct mailers to convince consumers to take out a reverse mortgage.

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Collection Industry News

OCTOBER 11, 2021

Source: site. President Joe Biden’s $3.5 trillion budget reconciliation plan includes a laundry list of wishes touching everything from Medicare to child care to electric vehicles. One of the more controversial proposals that might be included would give the Internal Revenue Service more scrutiny over bank accounts. The proposal would require banks, credit unions and other financial companies to monitor deposits and withdrawals in accounts that have balances above $600 at any time during the ye

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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.