Account Recovery
NOVEMBER 23, 2021
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. By providing the option for consumers to dispute the validity of a debt on the tear-off portion of the Model … The post Bedard Breaks Down Reg F’s Section on Disputes appeared first on AccountsRecovery.net.
Credit Corp
NOVEMBER 23, 2021
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. That doesn’t mean Black Friday and other major sales days are on hold this season, though.
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Account Recovery
NOVEMBER 23, 2021
The battle lines have been drawn. When it hears arguments in Hunstein v. Preferred Management & Collections — during the week of February 21, 2022 — the Eleventh Circuit Court of Appeals wants to hear from both sides on whether the plaintiff actually has standing to bring his lawsuit in the first place. The Eleventh … The post Eleventh Circuit Announces Date, Topic for Hunstein Rehearing appeared first on AccountsRecovery.net.
UK debt collections
NOVEMBER 23, 2021
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. Overall, the research by Intuit QuickBooks shows that small and medium-sized businesses with at least one overdue invoice were owed £21,356 in late payments on average in September – almost two thirds of the average SMEs typical monthly turnover.
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
NOVEMBER 23, 2021
There is nobody who will disagree that there are problems with medical debt across America. From massively underestimating how much medical debt actually exists to hospitals and healthcare facilities across the country being called out for being too aggressive in trying to collect on unpaid debts — especially when the amounts collected are not significantly … The post The Racial Divide of Healthcare Debt appeared first on AccountsRecovery.net.
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Account Recovery
NOVEMBER 23, 2021
Is a debt verification letter, sent in response to a dispute from an individual, an attempt to collect on a debt? A District Court judge in Georgia has ruled it is, denying a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case A copy of the ruling in the case of … The post Judge Denies MSJ in FDCPA Case Over Status of Verification Letter appeared first on AccountsRecovery.net.
Nerd Wallet
NOVEMBER 23, 2021
The cost of small-business insurance can vary widely. Taking the following steps can help you find cheap business insurance that still provides the protection you need. Here’s how to start your search for cheap small-business insurance. » MORE: Business insurance: What’s the best coverage for you? 1. Bundle the policies you need Different types of. Rosalie Murphy writes for NerdWallet.
Account Recovery
NOVEMBER 23, 2021
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? A District Court judge in Georgia has ruled it is, denying a defendant’s motion for summary judgment in a Fair Debt Collection Practices … The post Daily Digest – November 23.
Nerd Wallet
NOVEMBER 23, 2021
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. As the hospitality company grows, so does its portfolio, which now includes a number of all-inclusive properties where. Ramsey Qubein writes for NerdWallet.
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Account Recovery
NOVEMBER 23, 2021
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. The California Department of Financial Protection & Innovation has issued another set of proposed modifications to its licensing application and procedures for applying for a license, and is seeking comments … The post [UPDATED] California DFPI Proposes Changes to Definitions Under New Licensing Law appeared first on AccountsRecove
Nerd Wallet
NOVEMBER 23, 2021
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. Two banks allow you to uniquely earn AAdvantage miles — by keeping money in your savings or checking account. Josh Garber writes for NerdWallet.
Fico Collections
NOVEMBER 23, 2021
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. By concentrating on effective customer engagement, lenders will also ensure that they are better aligned with regulatory requirements.
Taurus Collect
NOVEMBER 23, 2021
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. Understandably, organizations want to hang on to cash reserves for as long as possible, which sometimes means you’ve got your work cut out for you. The most common reasons stated for late payment of invoices include: Waiting for payment from their customers.
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?
Fico Collections
NOVEMBER 23, 2021
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. The bench of eight global industry experts brings a variety of views and knowledge to the table along with significant business experience.
Collection Industry News
NOVEMBER 23, 2021
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. Andy Walden , Economist and Director of Market Research at Black Knight, examined the company’s McDash Flash daily forbearance data, and found that the number of active forbearance plans increased by 2,000 (0.2%) this week.
PDC Flow
NOVEMBER 23, 2021
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? Some business owners are nervous about implementing new software tools that require extensive training to launch. Others are still operating on manual or paper reminders that may not reach customers before their payment due date or come in a format consumers dislike or ignore.
Collection Industry News
NOVEMBER 23, 2021
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.
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Troutman Sanders
NOVEMBER 23, 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.
Collection Industry News
NOVEMBER 23, 2021
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. In a statement accompanying the press release announcing the orders, Director Chopra described the CFPB’s action as an “inquiry into big tech payment platforms” and stated that he had ordered “six technology
Collection Industry News
NOVEMBER 23, 2021
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.
Collection Industry News
NOVEMBER 23, 2021
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. The existing NYCRA is a state statute—modeled after the federal Community Reinvestment Act—which requires the New York Department of Financial Services (NYDFS) to consider a bank’s record of meeting the credit needs of its entire community, including low and moderate income neighborhoods, when determining whether to grant ce
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.
Collection Industry News
NOVEMBER 23, 2021
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.
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