Account Recovery

APRIL 13, 2023

The Consumer Financial Protection Bureau has filed a motion in its case against Lexington Law, asking the judge to assess $3.1 billion in penalties — in the form of redress to consumers and fines — arguing that is the amount that the defendants “took” from four million consumers. A copy of the motion in the … The post CFPB Asks Judge in Lexington Law Case to Levy $3.1B in Fines and Redress first appeared on AccountsRecovery.net.

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UK debt collections

APRIL 13, 2023

Scottish Businesses had over 1.2 million overdue invoices on their books this winter. Insolvency and restructuring trade body R3 analysed data from Creditsafe, revealing that 416,856 were due in December, 400,272 in January and 414,575 in February. Scotland saw the biggest month-on-month increase in late payments between January and February in the UK, with numbers rising by 3.6%.

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Account Recovery

APRIL 13, 2023

More money for the U.S. Postal Service means less money for companies in the accounts receivable management industry. The USPS announced this week a 4.8% increase in first-class stamp prices, from 63 cents to 66 cents, effective July 9. This marks the fifth price hike since early 2019 and a nearly one-third increase in stamp … The post USPS Raising Stamp Prices Again first appeared on AccountsRecovery.net.

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Accounts Receivables Management 246

Consumer Finance

APRIL 13, 2023

Today, the Consumer Financial Protection Bureau (CFPB) announced a revised version of its “Methodology for Determining Average Prime Offer Rates.

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Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

Account Recovery

APRIL 13, 2023

Kelsey Peters understands the importance of knowing where you come from. Whether it’s a piece of good advice from her late father, or the uniqueness of the town in which she grew up, or the benefits of working for a legend in the ARM industry, each of those experiences has shaped her and who she … The post Getting to Know Kelsey Peters of Frost-Arnett first appeared on AccountsRecovery.net.

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Account Recovery

APRIL 13, 2023

A pair of individuals have been indicted by a grand jury in Colorado for their role in running an alleged student loan debt settlement scam. The pair — Jalon Torres and Lisa Marie Ritter — earned more than $1 million from hundreds of victims who were defrauded. Torres, 45, was the registered agent for Student … The post Pair Indicted for Running Student Loan Debt Settlement Scheme first appeared on AccountsRecovery.net.

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On Guard

APRIL 13, 2023

The finance professional’s role is dynamic, and the COVID-19 crisis has made it even more crucial in organisations, with an increasing involvement in (digital) strategy. Currently, the profession is once again facing a number of challenges. The turbulent economic situation is making organisations more cautious, resulting in fewer innovations and less investment.

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Account Recovery

APRIL 13, 2023

Companies in the accounts receivable management industry may have someone else to compete with for consumers’ money and attention — the Internal Revenue Service is getting ready to resume normal activities, including collecting on unpaid taxes. The announcement was made in a blog post by the Taxpayer Advocate — which advocates for the fair treatment … The post IRS to Resume Normal Collection Activities in May first appeared on AccountsRecovery.net.

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Accounts Receivables Management Collections 130

TCPA

APRIL 13, 2023

A recent decision from the U.S.

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Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

Account Recovery

APRIL 13, 2023

GETTING TO KNOW KELSEY PETERS OF FROST-ARNETT Kelsey Peters understands the importance of knowing where you come from. Whether it’s a piece of good advice from her late father, or the uniqueness of the town in which she grew up, or the benefits of working for a legend in the ARM industry, each of those … The post Daily Digest – April 13. Getting to Know Kelsey Peters of Frost-Arnett; CPFB Asks Judge for $3.1B in Penalties in Lexington Law Case first appeared on AccountsRecovery.net.

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Troutman Sanders

APRIL 13, 2023

As discussed here , in 2016 the Central District of California granted judgment in favor of the Consumer Financial Protection Bureau (CFPB) in its long-running challenge to CashCall, Inc.’s tribal-lending operation. Specifically, the court found that CashCall engaged in unfair, deceptive, and abusive acts or practices in violation of the Consumer Financial Protection Act (CFPA) when it serviced and collected on loans made by Western Sky Financial, a lending operation owned by an enrolled member

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Loans Judgment Lender Financial services 52

Payment Savvy

APRIL 13, 2023

When it comes to investing, one of the most important things to consider in terms of a company is its financial health. You cannot make a fully conscious decision about whether you should invest your hard-earned money in a business if you don’t know if it will be profitable. That’s when the TIE ratio or Times Interest Earned ratio comes into play.

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Lender 52

Troutman Sanders

APRIL 13, 2023

Please join Troutman Pepper Partner Chris Willis and his colleague Vin Thomas as they discuss what it’s like to be a general counsel of a financial services company, based on Vin’s long experience as a financial services general counsel. During this episode, they examine various types of challenging work a general counsel faces, including managing regulatory and compliance matters; the nuances of working for public and private companies handling deals, such as mergers and acquisitions; initial p

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Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage

There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.

Collection Industry News

APRIL 13, 2023

New YorkCNN — Bed Bath & Beyond, the store for seemingly everything in your home during the 1990s and 2000s, filed for bankruptcy on Sunday. “Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations,” a statement at the top of the company’s website said Sunday morning. The company’s 360 Bed Bath & Beyond locations, along with its 120 buybuy BABY stores, will remain open for now, as will websites.

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Troutman Sanders

APRIL 13, 2023

On April 7, the Washington State legislature passed HB 1051 , also known as the Robocall Scam Protection Act, which expands the scope of existing provisions of Washington’s consumer protection laws regulating robocalls and telephone solicitations to prohibit abusive telephone communication practices. HB 1051 will become law once it is signed by Governor Inslee.

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