Account Recovery
JANUARY 25, 2024
For a lot of companies that work with healthcare providers, collecting bad debt may just be one component of what that company does for its client. Many companies, for example, offer billing services or early-out collections, working accounts before they go into default and are considered to be bad debt.
Troutman Sanders
JANUARY 25, 2024
Last month, New York Governor Kathy Hochul signed into law Assembly Bill 2672 , which both prohibits sellers from charging a credit card surcharge greater than what they are charged by the credit card company and requires sellers to clearly post the price of the credit card surcharge. The law will take effect on February 11, 2024. Specifically, the law provides that any seller in any sales transaction imposing a surcharge on a customer using a credit card shall clearly and conspicuously post the
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Account Recovery
JANUARY 25, 2024
Getting to Know Jessica Fagen of The Moore Law Group Judge Grants MSJ for Defendant in Early Out Billing Lawsuit CFPB Proposes Rule Prohibiting Fees on Instantly Declined Transactions Penn.
Jimerson Firm
JANUARY 25, 2024
Shop drawings play a vital role in construction projects. Comprehensive construction contracts may define shop drawings to include diagrams, illustrations, schedules, and other data or information that are prepared or assembled by or for the contractor to illustrate some portion of a parties’ scope of work. Construction contracts may also include language as to the timing of shop drawing submission, as well as the parties’ rights and obligations for the submission of shop drawings.
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
JANUARY 25, 2024
The Consumer Financial Protection Bureau yesterday issued a Notice of Proposed Rulemaking that would prohibit banks and financial services companies from assessing non-sufficient funds fees on transactions that are declined in real time.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JANUARY 25, 2024
The Attorney General of Pennsylvania has announced the settlement of an enforcement action against a consumer attorney who also provided debt settlement services that took advance fees from consumers and misled them into believing that attorneys were working on their accounts, when in reality they had been transferred to call center representatives.
Sawin & Shea
JANUARY 25, 2024
Bankruptcy filings in the United States are on the rise, with a recent 10% increase. Many people are also struggling to find employment and housing, so they may need to move to another location during bankruptcy. What if you find a job in another state? Can you move out of state while in Chapter 7 bankruptcy ? These are excellent questions, and in this article, we’ll present information to help you understand the impact of a move during bankruptcy.
Troutman Sanders
JANUARY 25, 2024
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule with request for public comment to prohibit covered financial institutions from charging nonsufficient funds fees (NSF) for payment transactions that are instantaneously declined. The proposed rule would treat fees for transactions declined in real time to be unlawful under the Consumer Financial Protection Act.
Collections Law
JANUARY 25, 2024
Anyone involved in any type of business knows that there will inevitably be a client or customer who does not pay their bill. Our experienced collection lawyers at the Law Offices of Alan M. Cohen & Associates LLC know and understand how frustrating it is to have customers who refuse to pay. We also know that letting those customers get away with not paying the money they owe is obviously bad for business.
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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.
Troutman Sanders
JANUARY 25, 2024
On January 9, a group of five bi-partisan South Carolina Senators introduced Bill 910 , which would, among other things, require persons (non-bank lenders) providing “consumer installment loans” or “deferred presentment loans” to conduct ability to repay (ATR) analysis. Insured state and federally chartered banks and credit unions are exempt from the provisions of the proposed law, which is currently before the Committee on Labor, Commerce, and Industry for review.
Collection Industry News
JANUARY 25, 2024
The federal government’s gross national debt has surpassed $34 trillion, a record high that foreshadows the coming political and economic challenges to improve America’s balance sheet in the coming years. The U.S. Treasury Department issued a report Tuesday logging U.S. finances, which have become a source of tension in a politically divided Washington that could possibly see parts of the government shutdown without an annual budget in place.
Troutman Sanders
JANUARY 25, 2024
As the financial landscape continues to evolve, financial institutions and fintech businesses, including payment processors and money transmitters, are facing increased regulatory scrutiny and heightened consumer expectations. Our dedicated Payments team is at the forefront of these changes, actively addressing the full spectrum of legal challenges in this intricate and ever-evolving sector.
ABI
JANUARY 25, 2024
Jae Hwang St. John’s University School of Law American Bankruptcy Institute Law Review Staff Section 363 of title 11 of the United States Code (the “Bankruptcy Code”) allows a debtor to sell its bankruptcy assets free and clear of liens and interests only if certain circumstances are met. [1] In addition, section 363 provides that an entity with an interest in the assets being sold is entitled to “adequate protection.” [2] The United States Bankruptcy Court for the District of Delaware held
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?
Troutman Sanders
JANUARY 25, 2024
On January 18, a court in the Eastern District of Wisconsin denied class certification in a Telephone Consumer Protection Act (TCPA) case concluding that the factual issue of whether the proposed class members had suffered an injury-in-fact sufficient to confer Article III standing based on the receipt of a ringless voicemail was an individualized issue that would predominate over common issues.
Micro Bilt
JANUARY 25, 2024
Borrowers are defaulting on car loans at the highest rate in 27 years There are several reasons for the unprecedented growth in delinquencies. Below, we cover three primary issues causing financial stress on consumers in the current economic environment.
Troutman Sanders
JANUARY 25, 2024
We are pleased to announce that Troutman Pepper attorneys Jason Cover, Mark Furletti, and Caleb Rosenberg will moderate a panel at the Online Lenders Alliance’s (OLA) Legal Issues Conference, taking place February 13-14 in Arlington, Virginia. The panel entitled “Federal Enforcement in 2023: A Year in Review” will be held on February 13 at 12:30 p.m. and will provide an overview of federal regulatory enforcement actions against banks, direct lenders, bank program facilitators and alternative cre
Micro Bilt
JANUARY 25, 2024
In the current high-risk economy, where student loans constitute a significant portion of many individuals' debt, lenders increasingly recognize the need for a more nuanced approach to customer relations and debt management.
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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.
Troutman Sanders
JANUARY 25, 2024
In this episode of The Consumer Finance Podcast , host, Chris Willis, is joined by Partners Kim Phan and Lori Sommerfield, to discuss recent developments related to website accessibility under the Americans with Disabilities Act (ADA). In this episode, they explore the Department of Justice’s proposed rule under Title II of the ADA, which seeks to improve state and local government website and mobile app access for individuals with disabilities, and the potential significance to the private sect
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