Mon.May 24, 2021

Remove payment
article thumbnail

Debt Collectors Can’t Garnish Your Stimulus Check

Collection Industry News

Andrew Cuomo (D) signed legislation on Thursday that blocks debt collectors from garnishing residents’ coronavirus stimulus payments. Any federal payment, including direct checks, tax refunds, rebates, and tax credits are now protected. 1, 2021 also qualify to receive a payment. New York Gov.

article thumbnail

CFPB Takes Action Against Auto Lender For Unfair Loss Damage Waiver Practice

Collection Industry News

doing business as California Auto Finance (California Auto) for illegally charging interest for late payment on its Loss Damage Waiver (LDW) product without its customers’ knowledge. WASHINGTON , DC (May 21, 2021) — The Consumer Financial Protection Bureau (CFPB) issued a consent order today against 3rd Generation, Inc.,

Lender 40
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Lenders Can Avoid Losing Their Collateral by Paying Off the Borrower’s Property Tax Obligations

Jimerson Firm

First, the tax collector will provide the property owner with notice, electronically or by postal mail, by April 30 th , if tax payment has not been received. The notice will provide that, if payment is not received, a tax certificate may be sold. 197.343(1). 197.472(1).

article thumbnail

US Regulators Warn that Bitcoin, Other Cryptocurrencies Pose Significant Financial Stability Risk

Collection Industry News

This may include paying more attention to private-industry payments innovators who do not fall under the existing regulatory framework (which is currently applied to banking institutions, investment companies, and various other financial intermediaries), Powell noted. The Fed will be seeking comments/feedback as well.

Banks 40
article thumbnail

10 Ways to Improve Payment Collections with Salesforce

For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.

article thumbnail

Does Paying Personal Expenses From Your Business’ Account Create Liability For Your Company?

FFGN COLLECT NY

A creditor could bring the claim that the owner and the company are not respecting the legal boundaries of corporate formation due to the personal debt payments on the company’s account. An owner or officer’s mortgage payment or child’s tuition paid out of the company account. This is called “piercing the corporate veil.”

article thumbnail

Takeover Agreements on Performance Bond Claims: What Are They and How Do They Work?

Jimerson Firm

waive its rights and make payment to the owner. Usually, owners, without any real construction management capabilities, prefer for the surety to elect to take over and complete the scope of work in the prime contract.

article thumbnail

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

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. Are you finding some snags in your collections process? Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

article thumbnail

Everything You Need to Know About Crypto

Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy

May 18th, 2023 at 9:30 am PDT, 12:30 pm EDT, 5:30 pm BST