Account Recovery
DECEMBER 21, 2023
The Consumer Financial Protection Bureau yesterday announced it had filed suit against a developer and lender for operating an illegal land sale scheme and targeting Hispanic borrowers with loans they couldn’t afford, many of which ended up in foreclosure and allowed the company to repeat the process.
Sawin & Shea
DECEMBER 21, 2023
When an individual or business files for bankruptcy, an automatic stay immediately goes into effect. This stay halts most collection activities and legal actions against the filer. For debtors, the automatic stay provides critical breathing room to address financial issues under bankruptcy court protection. What is an Automatic Stay? An automatic stay refers to the legal injunction put into place upon filing for bankruptcy.
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Account Recovery
DECEMBER 21, 2023
A class has been certified in a case involving a data breach at a debt collection operation that compromised the personal information of 640,000 individuals, but the judge denied a motion to settle the case because the proposed settlement — $2.
Troutman Sanders
DECEMBER 21, 2023
On December 20, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) filed a complaint in a Texas federal court against Colony Ridge Development, LLC (Colony Ridge), its affiliates, and Loan Originator Services, a Texas mortgage company, for allegedly operating an illegal land sales scheme and targeting tens of thousands of Hispanic borrowers with false statements and predatory loans.
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
DECEMBER 21, 2023
Judges don’t take kindly to parties failing to disclose details, especially involving other legal activities, one plaintiff has learned. A District Court judge in Ohio has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case because the plaintiff failed to disclose this suit when she filed for bankruptcy protection.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
DECEMBER 21, 2023
Reading Ken Piatt’s answers, is there any doubt that he epitomizes the best advice he’s ever received — be authentic?
Troutman Sanders
DECEMBER 21, 2023
Washington now joins the list of states that have enacted or proposed legislation adopting so-called anti-evasion provisions, including legislation passed in Minnesota, discussed here , Connecticut, discussed here , Nebraska, discussed here , and proposed in Florida, discussed here. On December 5, HB 1874 was filed, which would amend the Washington Consumer Loan Act (CLA) to adopt both predominant economic interest and totality of the circumstance tests to determine the “true lender” of a loan u
Account Recovery
DECEMBER 21, 2023
Getting to Know Ken Piatt of Arcon Credit Solutions Judge Grants MSJ for Defense in FDCPA Case Because Plaintiff Didn’t Disclose Suit in BK Filing Judge Certifies Class but Denies Preliminary Settlement in Data Breach Case Against Collection Operation CFPB, DOJ Sue Developer for Predatory Lending WORTH NOTING: A lot of states are trying to […]
Troutman Sanders
DECEMBER 21, 2023
In this episode of The Consumer Finance Podcast , Chris Willis is joined by Kim Phan, a partner in our firm’s Privacy + Cyber practice, to discuss the Securities and Exchange Commission’s new cyber risk management and incident disclosure rules for publicly traded companies. The rules, already in effect, detail the information a public company must report following a cybersecurity incident and the timeline for reporting.
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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.
JMA
DECEMBER 21, 2023
Choosing the right debt collection agency is a critical decision for any business in Sydney. The ability to effectively recover outstanding debts can significantly impact your financial health and business operations. However, it’s not just about recovering funds; it’s also about maintaining valuable customer relationships and upholding your business’s reputation in the process.
Jimerson Firm
DECEMBER 21, 2023
Featured in the December 2023 Issue: Partner’s Perspective: An Open Letter to the Partners of Jimerson Birr Writing this newsletter entry on a rainy Sunday got me thinking about how grateful I am for the ability to have this newsletter to write about reflections in life and business, and an outlet to practice the art of thankfulness that continuously teaches me that there is always more to be thankful for.
JMA
DECEMBER 21, 2023
In the bustling economic landscape of Sydney, maintaining robust cash flow is the lifeline of any business. Cash flow, essentially the net amount of cash moving in and out of a business, dictates its capacity to thrive and expand. However, in the face of delayed payments and accumulating debts, preserving a healthy cash flow can. Read more » The post How Our Sydney Debt Collectors Improve Cash Flow and Help Your Business appeared first on JMA Credit Control.
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