Tue.Oct 19, 2021

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FCC Proposes Rule to Block Robotexts

Account Recovery

The Federal Communications Commission has proposed a rule that would explore ways to require wireless carriers to block illegal text messages, similar to what the agency has done to combat illegal robocalls. Robotexts have become more prevalent, especially as regulators and technology providers have taken steps to keep robocalls from being connected to consumers’ phones. … The post FCC Proposes Rule to Block Robotexts appeared first on AccountsRecovery.net.

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How to Invest With Your HSA, and Why

Nerd Wallet

It’s hard enough to motivate yourself to save for retirement, but saving for your future medical costs? How responsible does a person have to be? Thankfully, health savings accounts, or HSAs, are tools that make saving for future health-related expenses less painful. These accounts allow you to save money, but they also allow you to. Alana Benson writes for NerdWallet.

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Guilty Plea For Defendant Accused in $150M Payment Processing Scheme

Account Recovery

A Florida man is facing 20 years in prison after pleading guilty to conspiracy to commit wire fraud in connection to a $150 million payment processing scheme that included facilitating payments for debt collectors. Thomas Wells, 74, was one of four individuals who were charged with conspiracy to commit wire fraud and conspiracy to commit … The post Guilty Plea For Defendant Accused in $150M Payment Processing Scheme appeared first on AccountsRecovery.net.

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CFPB Penalizes JPay for Siphoning Taxpayer-Funded Benefits Intended to Help People Re-enter Society After Incarceration

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today took action against the prison financial services company JPay for violating the Consumer Financial Protection Act by charging consumers fees to access their own money on prepaid debit cards that consumers were forced to use.

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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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Daily Digest – October 19. Judge Grants MTD in FDCPA Hunstein Case; Report Shares Details of Student Loan Restart Proposals

Account Recovery

JUDGE GRANTS MTD IN FDCPA CASE ALLEGING HUNSTEIN DISCLOSURE A District Court judge in Kansas has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling that the plaintiff lacked standing to sue because she was confused about an alleged discrepancy in the balance of her debt after receiving several collection … The post Daily Digest – October 19.

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Crown Asset Management Receives 2021 Best of Duluth Award

Account Recovery

Crown Asset Management, LLC (CAM), a receivables management and specialty finance firm in Duluth, GA, was selected as the winner for 2021 Best of Duluth Awards in the category of Accounts Receivable Management. This award is meant to recognize businesses in the Duluth, GA area for enhancing the community through a positive small business image … The post Crown Asset Management Receives 2021 Best of Duluth Award appeared first on AccountsRecovery.net.

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3 tips to recover normalcy after bankruptcy

Roths Child Law

Bankruptcy is a means to an end. It helps you eliminate debts and get yourself into a better financial situation. You’ll go through credit counseling in most cases, and you’ll learn better ways to manage your money. There will be some negative impacts caused by bankruptcy. You may not be able to take out a loan or to get credit. At the same time, you should have more free income that can help you stay stable while your credit score improves.

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Judge Grants MTD in FDCPA Case Alleging Hunstein Disclosure

Account Recovery

A District Court judge in Kansas has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling that the plaintiff lacked standing to sue because she was confused about an alleged discrepancy in the balance of her debt after receiving several collection letters, but, perhaps more importantly, that the use of … The post Judge Grants MTD in FDCPA Case Alleging Hunstein Disclosure appeared first on AccountsRecovery.net.

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Simulated FICO Score Impacts from Balance Aggregation due to Mortgage Forbearance

Fico Collections

This post presents new results following up our last blog post that described the FICO® Score impacts from simulating up to 12 months of mortgage forbearance accommodation. In the previous analysis, we enacted the simulation on all open mortgage accounts identified on a national sample of millions of U.S. consumers from late 2018. All stats shared in that post were based on the entire consumer population that has at least one open mortgage reported in their credit file.

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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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Report Shares Details of Student Loan Restart Proposals

Account Recovery

The Department of Education is considering proposals that would give borrowers “new flexibility” like initial grace periods when its moratorium on student loan payments ends on January 31, according to a published report. Individuals with federal student loans have not had to make payments since the COVID-19 pandemic hit the United States in the Spring … The post Report Shares Details of Student Loan Restart Proposals appeared first on AccountsRecovery.net.

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6 Things You Should Know About Signing Up for Medicare

Nerd Wallet

It may come as a surprise, but for many people, health care becomes more complicated after age 65 — not less. With Medicare’s fall open enrollment window open through Dec. 7, it’s important to understand all of your coverage options so you can continue to access the medications and care you need. Here are a. Dalia Ramirez writes for NerdWallet. Email: dramirez@nerdwallet.com.

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PDCflow Celebrates 18 Years of Growth, Change, and Serving Customers

PDC Flow

2021 has been a year of growth and change for nearly every business. PDCflow is no different. Our team has worked hard to envision the future we want for our customers, the services we want to provide and the values we hold as a company. Now, in celebration of our 18th anniversary , we look forward to a new year and a period of industry changes to rules, regulations and shifting technologies – and we’re ready to get to work!

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How to Fix an Overdrawn Bank Account

Nerd Wallet

Experiencing an overdrawn bank account can be stressful. Since banks can charge an overdraft fee multiple times a day, fees can add up quickly, piling on to the negative balance and the stress. The consequences of overdrawing can be serious, so it’s essential to fix your account as soon as you can. The bank may. Ruth Sarreal writes for NerdWallet. Email: rsarreal@nerdwallet.com.

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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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Unqualified “Cares” Act Funds Can’t Be Used To Pay Creditors

PBWT

U.S. Bankruptcy Judge Craig A. Gargotta rejected a debtor’s attempt to use “CARES Act” funds, which it did not actually qualify for, to pay creditors in its chapter 11 case. BR Healthcare Solutions (the “Debtor”) operated a nursing home under the name Karnes City Health & Rehabilitation Center near San Antonio. But in January of 2020, the Debtor’s principal “decided to close the nursing home [] due a sustained period of net operating losses.

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Chase Freedom Flex Adds a 5% ‘Top-Spend Category Bonus’ for Q4 2021

Nerd Wallet

The Chase Freedom Flex? is adding to its already impressive arsenal of bonus categories as the holiday spending season is upon us. For Q4 2021, cardholders who activate their normal 5% quarterly bonus categories will also automatically begin earning 5% back (4% back in addition to the card’s unlimited 1% cash back) in the category. Funto Omojola writes for NerdWallet.

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CFPB Joins Other Financial Regulatory Agencies in Issuing Statement on Discontinuation of LIBOR

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies and state bank and credit union regulators today in issuing a statement highlighting the risks posed by the discontinuation of LIBOR (originally an acronym for London Interbank Offered Rate).

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Bankers Life Insurance Review 2021

Nerd Wallet

NerdWallet is a free tool to find you the best credit cards, cd rates, savings, checking accounts, scholarships, healthcare and airlines. Start here to maximize your rewards or minimize your interest rates. Katia Iervasi 2.0 NerdWallet rating BANKERS LIFE INSURANCERated 2 out of 5 stars for overall performance in NerdWallet’s analysis. Sells a variety of.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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“Burr & Forman Grows Hilton Head Office With Atty Pair,” Law360

Burr Forman

Law360 Pulse published an article on October 14, 2021 covering Bret Pruehs and Jennie Cerrati’s arrival to the firm. Pruehs and Cerrati each have rejoined the firm and practice in the Hilton Head, SC office. Pruehs told the publication he chose to return because of the firm’s full-service offering that appealed to his clients, serving them in areas beyond his real estate practice.

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How to Access American Airlines Flagship Lounges

Nerd Wallet

In the years before the COVID-19 pandemic, airlines battled to offer premium passengers a superior product — in the sky as well as on the ground. As part of this effort, American Airlines designed the aptly named Flagship Lounges. Now in late 2021, American is gradually reopening the snazzy lounges as air travel begins a fitful. JT Genter writes for NerdWallet.

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“Unions Push Companies as Workers Stay Scarce,” The Wall Street Journal

Burr Forman

As union leaders push for more membership and improvements for their workforces in light of labor shortages affecting several industries, Marcel Debruge provided perspective on the issue in an October 17, 2021 article in The Wall Street Journal. Debruge, who represents management in all aspects of labor & employment law, said that companies are dealing with heightened frustration among employees.

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Nonqualified Stock Options and the Tax Impact on NSOs

Nerd Wallet

If your employer grants you nonqualified stock options, you’re receiving a form of equity compensation similar to incentive stock options, or ISOs. However, unlike with ISOs, you may be taxed twice with NSOs. Keeping the tax consequences top of mind can help you make the most of your stock options. What are nonqualified stock options? Tiffany Lam-Balfour writes for NerdWallet.

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The Power of Storytelling in Risk Management

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.

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Data is the crucial component to agile financial forecasting

On Guard

The COVID-19 pandemic has had a deep-reaching impact on economies throughout the globe. With businesses falling by the wayside left, right and centre, organisations are understandably cautious of making investments. Many have simply switched to survival mode. With so many unexpected variables, accurate financial forecasting has never been more difficult.

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Southwest Cards Rev Up Bonuses and Ongoing Rewards

Nerd Wallet

Just in time for holiday shopping season, the Chase-issued suite of Southwest credit cards is getting more rewarding for consumers. Through Dec. 7, 2021, the Southwest Rapid Rewards® Priority Credit Card, Southwest Rapid Rewards® Premier Credit Card and Southwest Rapid Rewards® Plus Credit Card will offer new cardholders the opportunity to earn the cards’ highest bonus offers ever.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

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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Capital One Introduces New Quicksilver Secured Card

Nerd Wallet

Capital One has added a new secured card to its lineup of Quicksilver products. The Capital One Quicksilver Secured Cash Rewards Credit Card, which began accepting applicants on Oct. 19, 2021, is a secured card aimed at helping consumers build or establish credit. The $0-annual-fee card comes with many of the same benefits as the. Funto Omojola writes for NerdWallet.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.