Wed.Sep 20, 2023

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Consumers Drive Increased Adoption of Digital Payment Options

Account Recovery

Consumers in America continue to head toward a cashless — and maybe even checkless — future when it comes to making payments, according to a study released this week by a payment provider for the financial services industry.

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CFPB Kicks Off Rulemaking to Remove Medical Bills from Credit Reports

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today announced it is beginning a rulemaking process to remove medical bills from Americans’ credit reports.

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Daily Digest – September 20. Judge Dismisses FDCPA Class Action for Lack of Standing; Consumers Drive Increased Adoption of Digital Payment Options

Account Recovery

Judge Dismisses FDCPA Class Action for Lack of Standing Consumers Drive Increased Adoption of Digital Payment Options Study Reveals Financial Burden Carried by Older Americans Due to Lack of Insurance 25 Companies Seeking Collection Talent WORTH NOTHING: A look ahead to the most anticipated movies of the Fall … Ways to use morning exercises to […]

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2023 Review: Capital One Quicksilver Student Cash Rewards Credit Card

Credit Corp

Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers. Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Snapshot: This is an entry-level student credit card with great perks, especially for those who travel via Uber or order with Uber Eats regularly.

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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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Judge Dismisses FDCPA Class Action for Lack of Standing

Account Recovery

A District Court judge in Florida has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class action case because the court lacked subject matter jurisdiction after the plaintiff attempted a somewhat novel strategy to prove she had standing to pursue her case in federal court.

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Study Reveals Financial Burden Carried by Older Americans Due to Lack of Insurance

Account Recovery

More than one-quarter of Americans over the age of 65 — an age when most people are in need of increased medical care — don’t have any form of health insurance, according to a study released by Oregon Health & Science University. This leaves many elderly Americans one medical bill away from financial ruin.

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Simple Savings Calculator

Credit Corp

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. One of the best ways to grow your wealth is to take advantage of a high-yield savings account and make money from the interest.

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Avoiding Time-Barred Debt: Six Tips to Make Sure You Stay On Top of Your Collections

Direct Recovery

Once an outstanding debt reaches time-barred status and is no longer collectible, there is little that a creditor can do to recover the amount owed, so the best approach to handling time-barred debt is to avoid getting to that point in the first place. If you want to ensure that your outstanding balance doesn’t fall into time-barred territory, here are six tips to help you stay on top of your collections.

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CFPB Calls for Increased Specificity and Accuracy on Reasons for Credit Denials When Lenders Employ Artificial Intelligence

Troutman Sanders

When using artificial intelligence (AI) or complex credit models, can lenders rely on the checklist of reasons provided in Regulation B sample forms for adverse action notices? According to today’s guidance issued by the Consumer Financial Protection Bureau (CFPB or Bureau), the answer to that question is, in many circumstances, no. As background, the Equal Credit Opportunity Act (ECOA) and Regulation B require that a creditor must provide an applicant with a statement of reasons for any adverse

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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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Member Spotlight: Explore and Evolve with Designations

NACM

The credit industry is nothing short of evolutionary. From automation to change management, credit professionals are in a constant state of learning. NACM's Professional Certification Program is one of the many tools credit professionals can use to expand their knowledge in B2B credit management. Whether that's learning new skills, diving deeper on.

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Can I Keep My Home in a Chapter 7 Bankruptcy?

Sawin & Shea

If you’re in a financial bind, your best option might be to seek a fresh start through Chapter 7 bankruptcy. However, you may be concerned that doing so could cause you to lose your biggest investment – your home. In most cases, you don’t forfeit your home when you file for Chapter 7 bankruptcy. What is Chapter 7 Bankruptcy? Filing for Chapter 7 bankruptcy , also called liquidation bankruptcy, allows you to discharge all or most of your debt.