Tue.Oct 27, 2020

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CFPB Stands Behind Collector for Itemizing Debt in Letter

Account Recovery

Thanks to the team at Ballard Spahr for noticing that the Consumer Financial Protection Bureau filed an amicus brief in support of a debt collector’s position that it did not violate the Fair Debt Collection Practices Act when it included line items indicating that an individual owed $0.00 in interest and collection fees in a … The post CFPB Stands Behind Collector for Itemizing Debt in Letter appeared first on AccountsRecovery.net.

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5 Credit Mistakes That Can Haunt You

Nerd Wallet

Some credit mistakes are a lot worse than others. Little ones, like paying a credit card bill a day late, may cost you a penalty fee, but that’s a relatively minor irritation — it’s not going to stand between you and a mortgage. Other seemingly small slip-ups can lead to full-fledged disasters. What makes a. Bev O'Shea is a writer at NerdWallet. Email: boshea@nerdwallet.com.

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Daily Digest – October 27. What Barrett’s Confirmation to Supreme Court Means for ARM Industry; CFPB Stands Behind Collector

Account Recovery

BARRETT CONFIRMED TO SUPREME COURT, AND WHAT IT COULD MEAN FOR THE ARM INDUSTRY The Senate yesterday confirmed the nomination of Amy Coney Barrett to be the next Associate Justice on the Supreme Court, replacing Justice Ruth Bader Ginsburg who passed away last month. The addition of Justice Barrett tilts the balance of the Court … The post Daily Digest – October 27.

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7 Times You Might Want to Product-Change a Credit Card

Nerd Wallet

As new credit cards update offers and your spending habits change over time, the card you’ve relied on for years may no longer fit. If that’s the case, you can apply for a new credit card and close your old one — but that could mean forfeiting your remaining rewards and dealing with dings to. Sara Rathner is a writer at NerdWallet. Email: srathner@nerdwallet.com.

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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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Barrett Confirmed to Supreme Court, and What it Could Mean for the ARM Industry

Account Recovery

The Senate yesterday confirmed the nomination of Amy Coney Barrett to be the next Associate Justice on the Supreme Court, replacing Justice Ruth Bader Ginsburg who passed away last month. The addition of Justice Barrett tilts the balance of the Court to the right, and politics aside, could have a significant impact for the credit … The post Barrett Confirmed to Supreme Court, and What it Could Mean for the ARM Industry appeared first on AccountsRecovery.net.

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Judge Denies MTD in FDCPA Case Over Collection Lawsuit

Account Recovery

For the second time in a month, a District Court judge in Minnesota has denied a defendant’s motion to dismiss as well as a motion to stay a lawsuit filed by a plaintiff alleging the defendant violated the Fair Debt Collection Practices Act during the course of filing its own lawsuit against the plaintiff in … The post Judge Denies MTD in FDCPA Case Over Collection Lawsuit appeared first on AccountsRecovery.net.

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Year-End Charitable Giving: 3 Things to Know About Donating Points and Miles

Nerd Wallet

Charitable donations tend to be popular around the holidays, and this year the needs of many nonprofits have shot through the roof amid the COVID-19 pandemic, the recession and natural disasters. More than 90% of nonprofits said they have been negatively impacted by COVID-19, according to a survey conducted from May 28 to June 3. Erin Hurd is a writer at NerdWallet.

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Outlet Publishes List of Candidates for CFPB Director if Biden Wins White House

Account Recovery

Election day is a week from today and who knows what is going to happen and how long it might take for a winner to be declared, but at least one media outlet has started speculating what might happen at the top of the Consumer Financial Protection Bureau if Joe Biden wins the presidency, and … The post Outlet Publishes List of Candidates for CFPB Director if Biden Wins White House appeared first on AccountsRecovery.net.

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Senators, State AGs, and Consumer-Protection Groups File Amicus Briefs Advocating Broad Interpretation of ATDS Definition

TCPA

Last Friday, various elected officials and consumer-protection groups filed amicus briefs urging the Supreme Court to adopt the expansive interpretation of the ATDS definition for which Plaintiff Noah Duguid had advocated in a brief he filed the week before.

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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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Chase Sapphire Preferred, Reserve Add Peloton Statement Credits (Limited Time)

Nerd Wallet

If you have a Chase Sapphire Preferred® Card or a Chase Sapphire Reserve® card, you’ll now be able to get fit and ward off holiday pounds with limited-time statement credits toward eligible Peloton memberships. Here’s what the cards will offer: Chase Sapphire Preferred® Card: Earn up to $60 in statement credits on Peloton Digital and All-Access memberships through Dec.

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Choosing a Payment Gateway for Your Accounts Receivable Business

PDC Flow

Running your accounts receivable business takes planning, organization, and the right tools. Along with the AR software needed to manage accounts, you need the right payment gateway, suited to meet the unique needs of the industry. What is a payment gateway and how do you choose the right one for accounts receivable ? What is a Payment Gateway? What is a payment gateway and how does it work ?

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‘Work From Hyatt’ Package Sweet Spot Redemptions

Nerd Wallet

Working from home has its challenges: Kids swirling around, an ever-growing list of chores and other interruptions can make concentrating difficult. With children doing virtual learning, the kitchen-table study-hall can become a site of extreme frustration, too. Hyatt Hotels has a solution: Work from Hyatt packages, which offer a much-needed change of scenery for remote workers, Ramsey Qubein is a writer at NerdWallet.

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Debt Collection Settlements: Can Parties Include Terms for Future Deals

FFGN COLLECT NY

An issue that comes up time and time again in debt collection settlements is whether parties can continue doing business together even though the creditor has placed the account for collection. If so, can a settlement agreement anticipate and include future deals? It happens more often than you would think. There are parties who enjoy a mutually profitable relationship before the non-payment of a receivable.

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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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Popular Southeast National Parks on Points

Nerd Wallet

As the weather cools down, you may start dreaming about a getaway to someplace warmer. Luckily, the Southeast United States has a plethora of places for you to enjoy the outdoors while working on your tan in the winter months. No matter which hotel loyalty program you use, you’re likely to find participating properties wherever. Ben Nickel-D’Andrea is a writer at NerdWallet.

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Construction Industry Webinar: You’ve stopped getting paid, now what?

Jimerson Firm

“You’ve stopped getting paid, now what?” aired on Thursday, October 22, 2020. The webinar covered options subcontractors and suppliers can take upon nonpayment on a construction project. The presentation reviewed non-payment issues, and provided ideas for planning, due diligence, and best practices that subcontractors and suppliers can employ when their receivables go unpaid.

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Jasper Mastercard Adding Rewards Program: 1% Back on All Purchases

Nerd Wallet

The Jasper Mastercard® — an alternative credit card for those with no credit — will soon offer 1% cash back on all purchases for all cardholders. Starting Oct. 28, 2020, the card, issued by WebBank, will earn rewards that redeem automatically every month as a statement credit to cardholders’ accounts. There will be no minimum. Melissa Lambarena is a writer at NerdWallet.

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The 4-1-1 on Payment Tokenization

Payment Savvy

Every merchant needs to provide customers with a simple and convenient way of making payments to their business. Just as important is to ensure a consumer’s credit card data is safe from hackers. This is where payment tokenization comes in – it’s simply an added security measure safeguarding payment details. What is Payment Tokenization?

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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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Rewards-Based Crowdfunding: What It Is, When It Works

Nerd Wallet

Crowdfunding is an alternative to traditional small-business financing that provides the means to transform a promising idea into profitable reality — without having to pay back a penny. Rewards-based crowdfunding is the most popular type of crowdfunding. What is rewards-based crowdfunding? Rewards-based, or seed, crowdfunding is a type of small-business financing in which entrepreneurs solicit financial donations.

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It’s More Important than Ever to Verify Borrower Income – Here’s Why

Micro Bilt

There are actually several reasons it is important for businesses to be additionally cautious when it comes to verifying income in a COVID-19 economy.

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Does American Express Offer Student Loans?

Nerd Wallet

American Express does not offer student loans. If you need to borrow for college, exhaust federal financial aid first, then compare private student loans to get the best rate possible. American Express student loan alternatives If you wanted an American Express student loan, consider these alternatives instead: A different credit card issuer. If you were.

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CFPB Private Education Loan Ombudsman Issues 2020 Annual Report

Consumer Finance

On October 28, 2020, the Consumer Financial Protection Bureau Private Education Loan Ombudsman issued the 2020 Annual Report, which shows that that from September 1, 2019, through August 31, 2020, the Bureau handled approximately 7,000 complaints related to private or federal student loans.

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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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Ugg Black Friday 2020 Deals: Are They Worth It?

Nerd Wallet

NerdWallet is here to help you win Black Friday while leaving your budget intact. We spend the time, you save the money. Visit regularly for holiday shopping tips and announcements about your favorite retailers. Black Friday is Nov. 27. Ugg’s product line features diverse footwear styles, apparel, accessories and home items. Yet, the brand’s comfy, Lauren Schwahn is a writer at NerdWallet.

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CFPB settles lawsuit filed against debt collectors and debt buyers for alleged violations of CFPA, FDCPA, and 2015 consent order

Collection Industry News

The CFPB announced last week that it has entered into a settlement of the lawsuit it filed in September 2020 against Encore Capital Group, Inc., Midland Funding, LLC, Midland Credit Management, Inc., and Asset Acceptance Capital Corp. alleging that the defendants engaged in various unlawful practices in violation of the FDCPA, the CFPA, and a 2015 administrative consent order between the defendants and the CFPB.

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Equity Crowdfunding: How It Can Help Your Startup

Nerd Wallet

Pitching your business to venture capitalists may not be in the cards for first-time entrepreneurs or small shops, but crowdfunding can help you find both accredited investors and everyday consumers willing to back your company. Equity crowdfunding means investors provide financing in return for a stake in your business. It differs from rewards-based crowdfunding, which.

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District Court Holds Letter Notifying Debtor of Change in Debt Ownership Can Fall Under FDCPA

Collection Industry News

On October 5, 2020, the U.S. District Court for the Middle District of Florida denied a debt collector’s motion for summary judgment, holding that a letter which provides notice of a change in debt ownership and requests payments be remitted to the new owner qualifies as a communication related to a debt under the Fair Debt Collection Practices Act (“FDCPA”), which restricts how debt collectors can collect from debtors.

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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.