Account Recovery
JANUARY 23, 2023
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
Consumer Finance
JANUARY 23, 2023
The CFPB issued a request for information today seeking public feedback on how the consumer credit market is functioning as part of a biennial review of the industry.
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Account Recovery
JANUARY 23, 2023
The changing of the calendar from December to January signifies more than just the start of a new year. In many states, it signifies the start of a new legislative session. Already, there are reports that bills attempting to regulate actions and behavior in the accounts receivable management industry are being introduced or planned to … The post Proposed Law Would Limit Collections in Florida if Incurred as a Result of Certain Crimes first appeared on AccountsRecovery.net.
Nerd Wallet
JANUARY 23, 2023
Jae Bratton writes for NerdWallet. Email: jbratton@nerdwallet.com. Liz Weston, CFP® writes for NerdWallet. Email: lweston@nerdwallet.com. Twitter: @lizweston. Sean Pyles writes for NerdWallet. Email: spyles@nerdwallet.com. Twitter: @SeanPyles. The article Smart Money: Data Breaches, and Catching Up On Retirement Savings originally appeared on NerdWallet.
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 23, 2023
The Court of Appeals for the Second Circuit has affirmed the dismissal of a case alleging violations of the Fair Credit Reporting Act, Fair Debt Collection Practices Act, and Racketeer and Influenced and Corrupt Organizations (RICO) Act involving a number of collection operations attempting to collect on a debt the appellant suspects was the result … The post Appeals Court Affirms Dismissal of FDCPA, FCRA Case first appeared on AccountsRecovery.net.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JANUARY 23, 2023
JUDGE GRANTS MOTION TO SET ASIDE DEFAULT JUDGMENT IN FDCPA, FCRA CASE OVER COMPLAINT SENT TO EMPTY OFFICE An interesting ruling out of South Dakota in which a District Court judge has agreed to set aside a default judgment that was obtained against a Buy Now, Pay Later service after it was sued for allegedly … The post Daily Digest – January 23.
Nerd Wallet
JANUARY 23, 2023
Ramsey Qubein writes for NerdWallet. Email: travel@nerdwallet.com. The article Qatar Airways vs. Turkish Airlines: Which Is Best? originally appeared on NerdWallet.
Account Recovery
JANUARY 23, 2023
An interesting ruling out of South Dakota in which a District Court judge has agreed to set aside a default judgment that was obtained against a Buy Now, Pay Later service after it was sued for allegedly violating the Fair Debt Collection Practices Act and the Fair Credit Reporting Act because the company never received … The post Judge Grants Motion to Set Aside Default Judgment in FDCPA, FCRA Case Over Complaint Sent to Empty Office first appeared on AccountsRecovery.net.
Nerd Wallet
JANUARY 23, 2023
Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com. The article 6 Tips for Traveling with a Service Dog originally appeared on NerdWallet.
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Troutman Sanders
JANUARY 23, 2023
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities State Activities Federal Activities: On January 19, the Consumer Financial Protection Bureau (CFPB) issued a new circular, affirming that companies offering “negative option” subscription services must comply with federal consumer financial protection law.
Roths Child Law
JANUARY 23, 2023
Getting your financial health back on track by filing for bankruptcy is possible. However, when you do this, you may be limited financially for the short term. For example, it may be harder for you to be approved for loans or credit after filing. If you need a personal loan after filing for bankruptcy , it may be approved. The amount of time it will take to get the loan depends on the type of bankruptcy you choose and how long it has been since you filed.
Jimerson Firm
JANUARY 23, 2023
Imagine making a loan to a business for its use as start-up capital. Loan documents are drafted, and to secure payment, you retain an option to purchase equity in the company. If the company doesn’t pay on time, you may have the option to take control of the company. The interest rate on the money lent is above market rate, but it doesn’t rise to the level of loan sharking.
Troutman Sanders
JANUARY 23, 2023
Do “negative option” subscription services constitute unfair or deceptive practices under the Consumer Financial Protection Act (CFPA)? According to the Consumer Financial Protection Bureau (CFPB) in its recent circular , these subscription services may violate the CFPA when a seller: 1) misrepresents or fails to clearly disclose the material terms of the program; (2) fails to obtain consumers’ informed consent; or (3) misleads consumers who want to cancel, erects unreasonable barriers to cancel
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?
Jimerson Firm
JANUARY 23, 2023
A recent opinion by a Florida appellate court, Construction Consulting, Inc. v. District Board of Trustees of Broward College , is a cautionary tale for contractors. It highlights that construction contractors need to be vigilant regarding the terms of their contract related to final payment and any conditions put on the final payment by the owner that might make acceptance of final payment constitute an accord and satisfaction that could bar any further claims for payment.
Troutman Sanders
JANUARY 23, 2023
As previously reported here , the Federal Communications Commission (FCC) issued a proposed rule in December 2020 that would place new call-frequency limitations and opt-out requirements on certain prerecorded non-telemarketing calls to residential numbers that can be called without prior consent under the Telephone Consumer Protection Act (TCPA). The TCPA has long allowed unlimited prerecorded calls to residential lines made (a) for non-commercial purposes, (b) for non-telemarketing commercial
Jimerson Firm
JANUARY 23, 2023
Material suppliers in the construction industry will often need to extend credit to their contractor and subcontractor customers due to the payment cycle on construction projects that can often run 30 days, 60 days or even longer. Due to this, suppliers of construction materials will often need to enter into a credit agreement with their customers to govern the terms on which credit is extend, including when payment is due and other important aspects of the credit relationship.
Taurus Collect
JANUARY 23, 2023
Tax season can be incredibly stressful for business owners, with many wondering how the financial decisions they make today could affect their future debt collection. With the right strategies in place, implementing sensible tax policies during this period can be beneficial in reducing outstanding debts and helping businesses remain on top of their finances.
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Troutman Sanders
JANUARY 23, 2023
On January 1, 2023, House Bill 132 went into effect enacting a 36% annual percentage rate (APR) cap on loans up to $10,000 made under the New Mexico Bank Installment Loan Act of 1959 and the New Mexico Small Loan Act (SLA). The bill also expanded the SLA anti-evasion provision to closely track those provisions in Illinois and Maine that went into effect in 2021.
Collection Industry News
JANUARY 23, 2023
The US has hit its debt limit, with the Treasury Department now taking measures to prevent a potentially devastating default. Reaching the debt ceiling means the government is not allowed to borrow any more money – unless Congress agrees to suspend or change the cap, which currently stands at almost $31.4tn (£25.4tn). Typically that is what happens.
Troutman Sanders
JANUARY 23, 2023
The U.S. Department of Justice (DOJ) has released guidance to its attorneys regarding requests to discharge student loans in bankruptcy cases. The 16-page memorandum developed in coordination with the Department of Education (DOE) advises DOJ attorneys to “recommend to the court that a debtor’s student loan be discharged if three conditions are satisfied: (1) the debtor presently lacks an ability to repay the loan; (2) the debtor’s inability to pay the loan is likely to persist in the future; an
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