Sun.Sep 19, 2021

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CFPB Sues Software Company That Helps Credit-Repair Businesses Charge Illegal Fees

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing a California-based software company and its owner of providing assistance to illegal credit-repair businesses.

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Financial Forensic Report 7.26.2021

Financial Forensic Services

FINANCIAL FORENSIC SERVICES HAS MOVED TO TEXAS! FFS is happy to inform you that we are moving our headquarter office to Texas. Our business, including website, email and telephones will remain the same after the moving process is completed and you will not experience any changes or delays in our services. Please temporarily use Joe and Barb’s cell phone numbers for primary contact: Joe’s cell phone: 303.875.4165 Barb’s Cell Phone: 512.426.4460.

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General Insurance Code of Practice and Hardship Continued 

Debt Recoveries

Reading Time: < 1 minute By James McGuire and Gabriella Mirabito . Our last article dealt with the recent changes to the general insurance code of practice, relating to the handling of vulnerable parties and matters of financial hardship. Our Recoveries Team Leader, Gabriella Mirabito and Client Relationship Manager, James McGuire have shared some additional points of emphasis and findings from the recent code changes. .

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Financial forensic report 8.2.2021

Financial Forensic Services

VEHICLE LOCATION AND TRAFFICKING INFORMATION AVAILABLE FOR NEARLY ANYWHERE IN THE WORLD. A former government contractor claims it can locate the real time locations of specific cars in nearly any country on Earth. It says data can be obtained and sent by the car and it’s components. It claims it can provide clients with the ability to locate vehicles in nearly every country on a near real time basis.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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Finance Professor McNulty paper on consumer protection settlements

Public Citizen

James E. McNulty a finance professor at Florida Atlantic University has written  Consumer Protection Settlements: Theory and Policy. Here's the abstract: Lawsuits have a deterrent effect, but this is mitigated if settlements are routine. Regulators and judges should consider that a firm contemplating predatory activity directed at financially unsophisticated individuals might have built an estimate of settlement costs into their analysis of the net present value of the “project.

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financial forensic report 8.30.2021

Financial Forensic Services

THE FRAUDULENT FLOW OF. FOREIGN WEALTH. The United States is known as the land of the free, and this is hardly more apparent than in the freedom with which vast sums of money flow into the country. Foreign wealth has found a comfortable home in the elite real estate of America’s biggest financial center: New York City. . That doesn’t sound so bad until you find out that many of the owners of these luxury Manhattan condos are actually shell corporations.

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financial forensic report 9.7.2021

Financial Forensic Services

THE AMAZING POWER OF PRICE ELASTICITY. Profits need protection. There is always a great deal of anxiety about prices. “Should I raise my prices?” “Are my prices too high?” “What should I price my services at?” Many businesses surrender to their own fears, pressures from competition, conversation with peers, and other influences and begin slashing prices, trumpeting discounts, and sacrificing their profits.

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financial forensic report 9.13.2021

Financial Forensic Services

HOW QUICKLY THE USE OF ARTIFICIAL INTELLIGENCE IS CHANGING. Our lead article: Vehicle Location and Tracking Information Available for Nearly Anywhere in the World, Sent August 2nd, 2021, covered the use of Artificial Intelligence to track vehicles nearly anywhere in the world. The following article shows how quickly current concerns are being raised about that application of technology.

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Financial forensic report 8.9.2021

Financial Forensic Services

ROW YOUR OWN CANOE. TO GET YOUR JUDGMENT ENFORCED EFFICIENTLY. By: Joe H. Dickerson, CFE, CFI. ou’ve won a significant civil case and have been awarded a significant amount of money by the court and it’s been months, or perhaps years, you have paid your attorneys a lot of money and you have never recovered a single dollar, you look in the mirror every day and ask yourself, “What am I doing wrong?”.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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.

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financial forensic report 8.24.2021

Financial Forensic Services

THINKING ABOUT BITCOIN? Bitcoin is the world’s first decentralized cryptocurrency – a type of digital asset that uses public-key cryptography to record, sign and send transactions over the Bitcoin blockchain. Launched on Jan 3, 2009, by an anonymous computer programmer (or group of programmers) under the pseudonym “Satoshi Nakamoto,” the Bitcoin network is a peer-to-peer electronic payment system that uses a native cryptocurrency called bitcoin to transfer value over the

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