Tue.Jul 16, 2024

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More Americans Living Paycheck to Paycheck: Survey

Account Recovery

More than 1 in 3 American workers are living paycheck to paycheck, with little-to-no money left for savings after covering monthly expenses, according to a new survey from Bankrate.

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Prepared Remarks of CFPB Director Rohit Chopra on Emerging Paycheck Advance Products

Consumer Finance

Director Chopra delivered remarks on a press call to discuss the CFPB’s proposed interpretive rule on emerging paycheck advance comments.

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A Summary of Comments on Medical Debt Credit Reporting Proposal

Account Recovery

Comments are currently being accepted regarding the Consumer Financial Protection Bureau’s proposed rule that would prohibit creditors from using medical debts when determining whether a consumer is eligible for credit. The comment period is open until August 12.

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Agencies Issue Final Rule to Help Ensure Credibility and Integrity of Automated Valuation Models

Consumer Finance

Six federal regulatory agencies today issued a final rule, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, designed to help ensure the credibility and integrity of models used in valuations for certain mortgages secured by a consumer’s principal dwelling.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Daily Digest – July 16. Bank, Collection Law Firm Facing FDCPA Class Action Over Reviving Dormant Judgments; More Americans Living Paycheck to Paycheck: Survey

Account Recovery

Bank, Collection Law Firm Facing FDCPA Class Action Over Reviving Dormant Judgments Judge Denies MSJ For Defendant in FCRA, FDCPA Case Over Disputed Debt More Americans Living Paycheck to Paycheck: Survey A Summary of Comments on Medical Debt Credit Reporting Proposal WORTH NOTING: The best Prime Day deals available so far … The best video […]

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Bank, Collection Law Firm Facing FDCPA Class Action Over Reviving Dormant Judgments

Account Recovery

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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Rogue Insolvency firm shut down by Courts

UK debt collections

A court has wound up a Manchester firm which offered unlicensed Insolvency Practitioner (IP) services. Save Consultants Ltd claimed to provide insolvency practitioner services when none of its current or former directors were licensed. Its actions risked undermining the insolvency regime and the company’s directors refused to explain its trading practices to investigators The company has been closed down following investigations by the Insolvency Service , with the Official Receiver appointed to

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Judge Denies MSJ For Defendant in FCRA, FDCPA Case Over Disputed Debt

Account Recovery

A District Court judge in Alabama has denied a defendant’s motion for summary judgment in a Fair Credit Reporting Act and Fair Debt Collection Practices Act case, ruling the defendant did not do enough to determine whether the debt in question was validly due and owing after the plaintiff filed a dispute.

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Oracle Agrees to $115 Million Settlement in Consumer Privacy Lawsuit

Collection Industry News

Oracle has agreed to a settlement in a consumer privacy lawsuit that dates back to 2018, offering to pay out $115 million in total for the sale of user data to third parties. The lawsuit alleged that Oracle made $42.5 billion annually by surreptitiously creating “dossiers” on millions of people that it sold off to both private and government parties.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.