American Profit Recovery
MAY 5, 2023
No matter the size of your business, your organization will always encounter consumers that have challenges meeting their financial obligations. For a whole host of reasons, consumers can either be late in paying you, or stop paying your business altogether. We always advise the organizations we work with to have an internal debt collection strategy prior to issuing accounts to a collection agency.
Enterprise Recovery
MAY 5, 2023
Estimates say that the number of freelancers entering the marketplace is growing at a compound annual growth rate of 15%. Enterprise company layoffs and the demand for more flexibility after the pandemic are two of many reasons that more people are considering freelancing. If you're ready to hang out your shingle, you definitely want to make sure you're on steady ground, so preparation and planning are necessary.
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Account Recovery
MAY 5, 2023
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? Call … The post Bank Accused in FDCPA Class Action of Using Straw Law Firm to Collect on Debt first appeared on AccountsRecovery.net.
Troutman Sanders
MAY 5, 2023
On April 19, the Superior Court of Connecticut issued an opinion affirming the Connecticut Department of Banking’s (DOB) decision to issue a $750,000 fine against a mortgage lender for allowing its unlicensed employees to engage in activities that required a license. In 1st Alliance Lending, LLC (1st Alliance) v Department of Banking , 1st Alliance appealed the DOB’s decision arguing the department overstepped its authority.
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
MAY 5, 2023
A collection law firm fighting a Civil Investigative Demand from the Consumer Financial Protection Bureau is planning on appealing its case to the Supreme Court, and has asked the Court of Appeals for the Second Circuit to hold off issuing its final ruling in the case. A copy of the motion in the case of … The post Collection Law Firm Fighting CFPB CID Plans to Ask Supreme Court to Intervene 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
MAY 5, 2023
The Consumer Financial Protection Bureau yesterday issued a report detailing the use of credit cards specifically for healthcare expenses, noting that the popularity of the cards has increased beyond just being used for elective procedures and that consumers may be biting off more than they can chew, ultimately setting them up to fall behind on … The post CFPB Says Healthcare Organizations Steering Consumers to ‘Costly’ Medical Credit Cards first appeared on AccountsRecovery.net.
TCPA
MAY 5, 2023
The Eastern District of Pennsylvania recently reaffirmed that an objective “four corners” standard governs whether faxes are “advertisements” that must meet the TCPA’s consent requirement.
Account Recovery
MAY 5, 2023
A District Court judge in Arizona has granted a plaintiff’s motion for partial summary judgment in a Fair Debt Collection Practices Act case, while also ruling that the statutory limit of $1,000 for a violation of the statute applies to each of the defendants in FDCPA cases and does not represent the maximum that a … The post Judge Grants Partial Summary Judgment for Plaintiff in FDCPA Case first appeared on AccountsRecovery.net.
FFGN COLLECT NY
MAY 5, 2023
Let’s say you provided a loan to a borrower. The borrower had been paying as scheduled but now comes to you and says they are having a cash flow problem. The borrower asks for a temporary pause on payments and says they will start making payments again after that period ends at a higher interest. The original payment terms accounted for 10% interest.
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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.
Account Recovery
MAY 5, 2023
BANK ACCUSED IN FDCPA CLASS ACTION OF USING STRAW LAW FIRM TO COLLECT ON DEBT A patsy. A scapegoat. A sap. A dupe. A class action lawsuit is accusing a bank of using a law firm as a front to collect on its own debts, allegedly violating the Fair Debt Collection Practices Act by sending … The post Daily Digest – May 5. Bank Accused in FDCPA Class Action of Using Straw Law Firm; Judge Grants Partial Summary Judgment for Plaintiff in FDCPA Case first appeared on AccountsRecovery.net.
Troutman Sanders
MAY 5, 2023
Citing research that found about half of U.S. adults find it difficult to afford the cost of their healthcare, the Consumer Financial Protection Bureau (CFPB or Bureau) published a report focusing on medical credit cards and loans used to cover basic medical treatment and emergency health care. According to the CFPB, the use of medical credit cards and installment loans can increase the financial burden on patients who may pay more than they otherwise would pay.
Price Meese
MAY 5, 2023
On May 2nd Ed Purcell co-moderated an oxford style debate in celebration of Law Day. The debate, which took place in Somerville’s historic courthouse and was hosted by the Somerset County Bar Association, and was meant to foster an interesting discussion on the first amendment. It succeeded. The motion was “Resolved, the Right to Free Speech is More Important than Public Safety.” Alexander Shalom, Esq. and Rebecca Uwakwe, Esq.
NCBA Law Practice Management Blog
MAY 5, 2023
For referral-heavy businesses like law firms, there needs to be a focus on a very narrow version of a web presence. Since most potential referrals will trust but verify the recommendations of their referrers (your referral sources), it’s imperative that when a potential referral Googles you, that they like what they see. What shows up in Google search, when a legal consumer searches your name or your business name, is usually three main things: your website + website pages, your social media pro
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?
Price Meese
MAY 5, 2023
Lithium-ion battery-powered bikes have become increasingly popular among commuters and cyclists. They offer an eco-friendly and efficient way to travel, making them a favorite choice among those who want to reduce their carbon footprint. However, with the rise in the number of e-bike users, many condominium associations have started to consider banning lithium-ion battery bikes.
NACM
MAY 5, 2023
? NACM's Credit Managers' Index (CMI) revealed credit application approvals dropped in April even as applications for new credit increased. The factor of rejections of credit applications fell 2.7 points into contraction territory at 49.7—its lowest level since July 2009 during the Great Recession. The flow of credit is being crunched by fina.
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