Tue.Nov 23, 2021

Judge Denies MSJ in FDCPA Case Over Status of Verification Letter

Account Recovery

Is a debt verification letter, sent in response to a dispute from an individual, an attempt to collect on a debt?

Micro Businesses hit by 60% hike in Late Payments

UK debt collections

New research has revealed late payments are continuing to have a significant impact on UK small businesses – with the smallest businesses being some of the worst hit.

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Bedard Breaks Down Reg F’s Section on Disputes

Account Recovery

If there is one certainty about what is going to happen once Regulation F goes into effect on November 30, it’s that individuals who receive notices from debt collectors are going to dispute more debts.

10 Ways Payment Reminders Accelerate Your Billing Cycle

PDC Flow

Payment reminders are perhaps the simplest, most flexible solution to reduce routine late (or delinquent) payments. So why aren’t businesses taking full advantage of this simple, easy, effective tactic?

Mandatory COVID Vaccination Policy Template

The federal government is developing a rule requiring employers with more than 100 employees ensure their workers are vaccinated or produce a negative COVID test weekly before entering the workplace. So, what can your organization do to prepare? Get Paycor’s COVID Vaccination Policy Template to help communicate important details to your employees.

Daily Digest – November 23. Judge Denies MSJ in FDCPA Case; Bedard Breaks Down Reg F Dispute Requirements

Account Recovery

JUDGE DENIES MSJ IN FDCPA CASE OVER STATUS OF VERIFICATION LETTER Is a debt verification letter, sent in response to a dispute from an individual, an attempt to collect on a debt?

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Eleventh Circuit Announces Date, Topic for Hunstein Rehearing

Account Recovery

The battle lines have been drawn. When it hears arguments in Hunstein v.

How to Be a Savvy Shopper Amid Cyber Monday Hype

Nerd Wallet

Last Cyber Monday, I rushed to put a very-much-on-sale grill into my virtual shopping cart. I texted my daughter to make sure my son-in-law really wanted it, because this limited-quantity deal would not be returnable. I entered my credit card number as soon as she responded.

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The Racial Divide of Healthcare Debt

Account Recovery

There is nobody who will disagree that there are problems with medical debt across America.

A Guide to Marriott All-Inclusives

Nerd Wallet

Marriott Bonvoy’s extensive family of brands has a property for every type of traveler. Whether you are looking for a business hotel, boutique property or something with keen millennial appeal, Marriott Bonvoy has a lot to offer.

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[UPDATED] California DFPI Proposes Changes to Definitions Under New Licensing Law

Account Recovery

EDITOR’S NOTE: The DFPI has extended the deadline for comments to be submitted to December 2. This article has been updated to reflect that extension.

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How to Earn American Airlines Miles with Your Savings Account

Nerd Wallet

Earning miles is usually based on spending, whether buying plane tickets or making purchases with an airline credit card. But American Airlines has a few opportunities for you to earn AAdvantage miles while you save money.

Banks 69

Digital-First Collections Means Thinking Like a Marketer

Fico Collections

As households continuing to grapple with finances, lenders that offer the right combinations of digital-first customer support will experience the benefits, including improved repayments, debt resolution, longer-term customer loyalty and greater market share.

Black Friday Shopping During Coronavirus: Tips for Success

Credit Corp

The 2021 holiday shopping season started early, with many people shopping well ahead of traditional deal days like Black Friday. That’s due in part to fears that supply chain and other logistics issues may mean the right gifts won’t be on the shelves later this year.

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.

Meet Our 2022 FICO Decisions Awards Judges

Fico Collections

FICO has announced its panel of independent judges for the 2022 FICO® Decisions Awards , which honor businesses achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs.

5 Fast Fixit Solutions for Late Payment of Invoices

Taurus Collect

Overdue or late payment of invoices puts unnecessary strain on business finances. The struggle is even more real during periods of economic uncertainty like Brexit or the pandemic.

Nearly 2% of All Mortgages Remain in Forbearance Plans

Collection Industry News

Source: site. An examination of the latest forbearance data from Black Knight Inc. has found the number of active U.S. forbearances remained on a relatively steady and predictable pattern entering the final month of 2022.

Loans 52

CFPB issues request for information regarding assessment of HMDA rule

Collection Industry News

Source: site. Earlier this week, the CFPB issued a Request for Information (RFI) regarding an assessment of the significant amendments to the Home Mortgage Disclosure Act rules, known as Regulation C, adopted in October 2015 and subsequently revised in several additional rulemakings (the “HMDA Rule”). Responses to the RFI will be due 60 days after it is published in the Federal Register.

Loans 40

Did the CFPB Follow PRA Requirements in Issuing its Big Tech Orders?

Collection Industry News

Source: site. On October 21, the CFPB issued a series of orders to “collect information on the business practices of large technology companies operating payments systems in the United States.”. The CFPB sent the orders to six companies: Amazon, Apple, Facebook, Google, PayPal, and Square.

CFPB Issues Advisory Opinion On Matching And FCRA Accuracy Requirements

Collection Industry News

Source: site. The CFPB recently issued an advisory opinion asserting that a consumer reporting agency (CRA) that uses “name-only matching,” among other inadequate matching procedures, in preparing consumer reports does not satisfy FCRA’s requirement that a CRA use reasonable procedures to assure maximum possible accuracy and that multiple additional elements beyond names often may be required to meet this standard.

NY Extends State CRA to Non-Depository Mortgage Lenders

Collection Industry News

Source: site. New York has passed a law which will extend its state-level Community Reinvestment Act (NYCRA) to non-depository mortgage lenders, effective November 1, 2022.

TCPA Theories Emerging in 2022: Predictions

Collection Industry News

Source: site. Well, here’s another one of those articles with a bunch of stuff you’ll only hear about from the Czar. You’re welcome. So I’m starting to prepare materials for the Summit, and I am definitely going to spend an hour or so discussing emerging TCPA litigation trends and what I expect to see next year. These last few weeks have brought a handful of stories that I think are really going to set the tone for TCPA litigation in 2022.