Account Recovery

FEBRUARY 6, 2024

Collection Law Firm Facing FDCPA Class Action for Failing to Disclose SOL Had Allegedly Expired Judge Grants MTD in FDCPA Class Action Over Different Account Numbers CFPB Fighting With Employees’ Union Over Pay Super Week on Tap for RMAI’s Annual Conference WORTH NOTING: Celebrate Babe Ruth’s 129th birthday with videos of sports’ first celebrity … […]

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Law Firms Collections 147

UK debt collections

FEBRUARY 6, 2024

The end of 2023 saw an increase in CCJs issued for unpaid debts. Read the full report issued from the Registry Trust here: The total number of commercial and consumer judgments registered in the British Isles in Q4 2023 was 243,448. This total number excludes England and Wales High Court Judgments, Scotland Ordinary Causes and Northern Ireland High Court Judgments.

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Judgment Collections 90

Account Recovery

FEBRUARY 6, 2024

LAS VEGAS — RMAI’s Annual Conference has always had a Super Bowl connection, given its position on the calendar. And, for the first time ever, the conference and the Super Bowl are in the same city, just days apart.

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UK debt collections

FEBRUARY 6, 2024

A solicitor who admitted taking thousands of pounds from clients whilst acting as their power of attorney has been jailed. Alison Haley Griffiths, 55, pleaded guilty to two counts of fraud by abuse of position and was sentenced at Swindon Crown Court to 24 months’ imprisonment. Griffiths, who was practising in Swindon, stole around £49,000 over the course of more than two years from a 94-year-old woman over whom she had power of attorney.

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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

FEBRUARY 6, 2024

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?

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Law Firms Collections 130

Account Recovery

FEBRUARY 6, 2024

For those of you keeping track of what does not constitute standing to sue in federal court, you can add receiving a collection letter that makes it appear you are responsible for a debt owed by your dead husband that includes an account number that is different from the account number that had previously been […]

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Collections 130

Credit Corp

FEBRUARY 6, 2024

It depends on your financial situation and current market conditions – refinancing could get you a loan with better terms, or it could cost you more than you would save. In 2023, the average price of a new vehicle reached nearly $50,000. Most people don’t have $50,000 in cash available, so banks, credit unions, and financing companies originate millions of auto loans each year.

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Loans Lender Credit Unions Credit Unions 52

Account Recovery

FEBRUARY 6, 2024

The Consumer Financial Protection Bureau finds itself embroiled in a complex and strained situation regarding salary negotiations with its lower-level employees. The crux of the issue involves the CFPB’s decision to increase salaries for its top executives while allegedly neglecting the compensation needs of its broader workforce, including employees and middle managers.

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Troutman Sanders

FEBRUARY 6, 2024

A federal district court judge in Nevada recently denied competing motions for summary judgment in a Fair Credit Reporting Act (FCRA) furnisher investigation case, demonstrating the challenges FCRA litigants often face in convincing courts to decide cases on matters of law. In Land v. Allied Collection Services, Inc. (Allied), the defendant argued that since it had conducted an investigation before receiving the plaintiff’s formal dispute it did not need to conduct a duplicative investigation af

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Judgment Collections 52

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Collection Industry News

FEBRUARY 6, 2024

On Black Friday, Jason Apley was shopping with his wife when he checked his bank account and noticed he had about $500 less to spend than last holiday season. Unlike many Americans with crushing student loan debt, the 44-year-old father of three from Knoxville, Tennessee, thought his debt had been canceled. But when the pandemic-era hold on loan payments lifted, the hefty deduction popped up again on his balance.

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Student loans Student Loans Education Government 40

Troutman Sanders

FEBRUARY 6, 2024

Recently, Lead Bank and its loan servicer Hyphen, LLC, an online lending platform operating Helix Financial, filed a motion to dismiss a purported class action alleging violations of the Georgia Installment Loan Act (GILA) and Georgia racketeering law arising out of a consumer installment or “payday loan.” Specifically, the plaintiff alleged that the loan agreement between herself and Lead Bank was “nothing more than a façade, and a temporary one at that” in an attempt to evade Georgia’s restric

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Banks Loans Lender Government 52

NACM

FEBRUARY 6, 2024

As a professional in any career path, change is inevitable and necessary to grow. NACM's Professional Certification Program gives credit professionals the exact tools they need for growth. With six levels of certification including in-house courses, online courses and exams, this program is designed to contribute to a credit professional's wel.

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Troutman Sanders

FEBRUARY 6, 2024

As discussed here , in a recent letter, the Chairman of the National Credit Union Administration (NCUA) outlined the agency’s supervisory priorities for 2024. In this post, we delve deeper into the area of consumer protection oversight. While the agency will continue to assess federal credit unions’ compliance with all applicable federal consumer financial protection laws and regulations, it identified three areas of supervisory focus: overdraft programs; fair lending; and indirect auto lending.

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Credit Unions Credit Unions Lender Loans 52

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?

Banks

Troutman Sanders

FEBRUARY 6, 2024

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On February 3, while delivering remarks before the American Bar Association, Commodity Futures Trading Commission Commissioner Rostin Benham noted that the “cryptoverse is not a closed system” and “[r]egulation is necessary to protect consumers and to

Financial services 52

Financial services Banks Trade Financial Institution 52

Troutman Sanders

FEBRUARY 6, 2024

Join hosts Dave Gettings, Kim Phan, and Chris Willis in this special crossover episode of FCRA Focus and The Consumer Finance Podcast in the first installment of our Year in Review and a Look Ahead series. They are joined by guests Cindy Hanson and Alan Wingfield, partners at Troutman Pepper, who share their insights on the most impactful developments in background screening and credit reporting in 2023.

Financial services 52

Financial services 52

Troutman Sanders

FEBRUARY 6, 2024

Join hosts Dave Gettings, Kim Phan, and Chris Willis in this special crossover episode of FCRA Focus and The Consumer Finance Podcast in the first installment of our Year in Review and a Look Ahead series. They are joined by guests Cindy Hanson and Alan Wingfield, partners at Troutman Pepper, who share their insights on the most impactful developments in background screening and credit reporting in 2023.

Financial services 52

Financial services 52

Troutman Sanders

FEBRUARY 6, 2024

The U.S. Department of Education (ED) recently announced the approval of an additional $4.9 billion in student loan forgiveness for 73,000 individuals. The relief was provided through several modifications to the income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PLSF) programs. To date, the Biden Administration has forgiven $136.6 billion in student loans for more than 3.7 million borrowers.

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Student loans Student Loans Education Loans 52

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