Tue.Nov 28, 2023

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Daily Digest – November 28. Collector Facing FDCPA Class Action Over Lack of Interest Accrual Disclosure in MVN; Judge Grants MTD in FDCPA Class Action Over Undated MVN

Account Recovery

Collector Facing FDCPA Class Action Over Lack of Interest Accrual Disclosure in MVN Judge Grants MTD in FDCPA Class Action Over Undated MVN Judge Partially Grants MTD in TCPA Case Over Calls to Wrong Number FCC Taking More Steps to Block Illegal Text Messages WORTH NOTING: You can still get some deals if you missed […]

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Non-Performing Loans: Causes and Management

Qualco

NPL Management: A 5-Step Roadmap to Strategic Success is the latest e-Guide to be published by Qualco UK. You can view it here. In today's regulatory environment, when it comes to collecting overdue accounts, the clear, overarching message is that the customer must be treated fairly and ethically. However, in a small number of credit businesses, the right strategies for systems and people have not been set.

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FCC Taking More Steps to Block Illegal Text Messages

Account Recovery

The Federal Communications Commission will discuss and vote on an order at its December meeting that would give wireless carriers the power to block all text messages from a particular number when notified by the Commission of illegal texts from that number and reinforce that the Do Not Call registry extends to text messages among […]

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£16.3m boost for HMRC Debt Collection Unit

UK debt collections

The Government is to our £16.3 million into HMRC Debt Collection, raising efforts to recover £4.67 billion in unpaid taxes over the next six years. According to Treasury estimates, the injection of cash will help HMRC’s debt management team recoup £515million in taxes in 2024-25. By 2025, over £1billion worth of unpaid taxes will be recovered according to the announcement in last week’s Autumn Statement.

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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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Collector Facing FDCPA Class Action Over Lack of Interest Accrual Disclosure in MVN

Account Recovery

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?

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Judge Grants MTD in FDCPA Class Action Over Undated MVN

Account Recovery

A District Court judge in New York has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class-action, ruling that the lack of a date on a Model Validation Notice is not a violation of the statute and is not confusing to the least sophisticated consumer.

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Opening Statement of Director Rohit Chopra before the House Committee on Financial Services

Consumer Finance

I am pleased to share that the CFPB has reached important milestones on critical priorities.

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Judge Partially Grants MTD in TCPA Case Over Calls to Wrong Number

Account Recovery

A District Court judge in Arizona has partially granted a defendant’s motion to dismiss a Telephone Consumer Protection Act lawsuit in which it was accused of placing 10 calls to the plaintiff’s cell phone in an attempt to reach someone other than the plaintiff.

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Member Spotlight: Refresh Your Credit Strategy

NACM

Credit professionals with several years of experience can sometimes remain stuck in the everyday motion of credit processes, dealing with customers, sales and more. But NACM's Professional Certification Program provides credit professionals with an important tool that can provide a fresh outlook: education. As the world of credit continues to evolv.

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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.