Mon.Sep 28, 2020

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Compliance Digest – September 28

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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SWOT Analysis: Effective Business Decision-Making Process

Nexa Collect

Theodore Roosevelt once said: “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing”. Making decisions is essential in everyday life and the business world, and we can learn from those who have done it better. Good strategic thinkers tend to be not only good analysts but to be able to maintain a critical and fair attitude about their goals and the elements or factors needed to achieve them.

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Trending Sources

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Calif. Gov. Signs Licensing Bill, State CFPB Bill Into Law

Account Recovery

The Governor of California has signed into law a pair of bills that will impact the future of collections in The Golden State — one bill will require collectors to obtain licenses in order to operate and the other will create a state equivalent of the Consumer Financial Protection Bureau. The licensing bill — SB 908 — will … The post Calif.

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How Much Does One Late Payment Affect Credit Scores?

Credit Corp

If you’re serious about your credit score, you need to pay your bills on time. One late payment can have a devastating effect on your credit score. Here’s what you need to know about late payments and your credit score, and what you can do to protect yourself. How Late Payments Affect Credit Scores. Your payment history is the biggest factor in determining your credit score, so it’s imperative that you pay your bills on time whenever possible.

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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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Judge Grants MTD in FDCPA Letter Overshadowing Case

Account Recovery

In a case that was first spotlighted by Manny Newburger and Nabil Foster of Barron & Newburger, a District Court judge in New York has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act by allegedly overshadowing the validation notice in a collection letter and by … The post Judge Grants MTD in FDCPA Letter Overshadowing Case appeared first on AccountsRecovery.net.

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Judge Grants TRO in Case Against Alleged Collection Scammers

Account Recovery

The Attorney General of New York has filed a lawsuit and obtained a temporary restraining order shutting down a collection operation that allegedly used a call spoofing service to impersonate government officials and made fraudulent threats to the individuals and their friends and family members. The suit named a number of defendants, including Kenneth Thomas, … The post Judge Grants TRO in Case Against Alleged Collection Scammers appeared first on AccountsRecovery.net.

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Kikoff Credit-Builder Loan Review 2020

Nerd Wallet

The hardest part about building a credit history is getting access to credit in the first place. If becoming an authorized user on someone else’s credit card is not an option for you or you cannot afford the deposit on a secured card, Kikoff offers a cheap and simple way to build credit. The San. Amrita Jayakumar is a writer at NerdWallet. Email: ajayakumar@nerdwallet.com.

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Serving a Defendant in a Residential Foreclosure Action by Publication

Jimerson Firm

A residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court. All named defendants will need to be notified of the lawsuit by being served process with a copy of the complaint and a summons. The defendants may be served by personal service or substituted service. If a defendant cannot be located, then service may be effected by constructive service, i.e., service by publication, which is governed by Chapter 49, Florida Statutes.

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Smart Money Podcast: The Psychology of Debt, and When to Refinance

Nerd Wallet

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion of NerdWallet’s new credit and debt survey, which shows people have complicated feelings about their plastic. Then we pivot to this week’s question from Amy in Pennsylvania. She writes, “I’m seeing a lot of offers for.

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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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AC Transit Counsel Goes from Bad to Worse

Public Citizen

by Paul  Alan Levy. Last week I explained the many fallacies in a contention by Jill Sprague, General Counsel of the Alameda-Contra Costa County Transit District, that Victoria Fierce, a candidate for election to the ACT Transit Board of Directors, has unlawfully posted photographs to her campaign web site that included busses and a route sign that included AC Transit’s official logo.

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Can’t Concentrate in a Home Office? Try a Hotel Office

Nerd Wallet

Have you tried working from home but not had great success? Interruptions from family, friends and even pets can squash productivity and creativity. If you work remotely, hotels in your area may have the perfect solution — as well as plenty of loyalty points — waiting for you. Whether you want to spend the day. Ramsey Qubein is a writer at NerdWallet.

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Join Me at CBA Live for Fraud Prevention and Customer Experience

Fico Collections

Having become a pro at Zoom meetings during the pandemic, I’m excited to up my game a notch this Wednesday, September 30. I’ll be participating in an excellent panel, “ Balancing Fraud Prevention & the Customer Experience ,” at the first virtual edition of CBA LIVE , the must-attend annual event for the retail banking industry. What’s great about virtual conferences is that you can register , today, to attend.

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What to Expect While Traveling in the COVID-19 Era

Nerd Wallet

Cities, states and even some countries are opening to tourists again. But the old “normal” is still a long way away. From the hotel check-in counter and airport boarding gate to city bus tours and the restaurant on the corner, the way that we travel has changed dramatically. Beyond well-known changes like mask-wearing and hand. Jon Nickel-D'Andrea is a writer at NerdWallet.

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ERM Program Fundamentals for Success in the Banking Industry

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?

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Simulated FICO Score Impacts due to Mortgage Forbearance

Fico Collections

Here at FICO, we’ve fielded numerous questions about the impact to FICO® Scores due to credit reporting during the pandemic. Most of the questions we have received center on the impact from accounts being newly reported in some form of mortgage payment accommodation (e.g., forbearance or deferment). But in recent weeks, there is increasing focus on how FICO® Scores might shift as a result of consumers exiting mortgage payment accommodation programs.

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If Credit Card Relief’s a No-Go, Check Out Debt Management

Nerd Wallet

As cardholders experience financial difficulties due to COVID-19, some credit card issuers are promoting their hardship programs. Once a well-kept secret, these programs are now more prominently advertised, offering things like deferred payments and lower interest rates. But not all cardholders will qualify or receive favorable terms. If you’ve been denied COVID-19 relief, if it’s.

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Eleventh Circuit Weighs in on FCRA “Legitimate Business Purpose,” Affirms Dismissal in Favor of Defendant Who Accessed Credit Report to Verify Identity and Eligibility

Troutman Sanders

In 2011 and 2013, Peri Domante’s personal information was stolen and fraudulently used to open two accounts with Dish Networks, LLC (“Dish”), a provider of television services. After being alerted to the fraud, Domante sued Dish for violation of the Fair Credit Reporting Act (“FCRA”). The parties settled the lawsuit. A part of the agreement, Dish promised to flag Domante’s Social Security number to preclude further unauthorized attempts to obtain Dish services.

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CommonBond vs. SoFi: Which Is Better for Refinancing Student Loans?

Nerd Wallet

If you’re shopping for a student loan refinance lender, CommonBond and SoFi are strong options. NerdWallet gives both five stars and rates their refinancing loans among the best overall. The right choice is the one that saves you the most money. But if you’re debating CommonBond vs. SoFi because their interest rates are similar, compare. Ryan Lane is a writer at NerdWallet.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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Filing a Proof of Claim in Bankruptcy: What You Need to Know

Fraser

When a company files for bankruptcy and it owes you money, it means you have a “claim” in the debtor’s bankruptcy proceedings. A claim, in short, is a right to payment. A creditor with a claim must often take affirmative action by filing a “proof of claim” form in order to preserve and protect its rights to payment. Filing a proof of claim can be a relatively simple process involving the submission of a short form.

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Best Banks and Credit Unions of 2020

Nerd Wallet

The best bank or credit union for you depends on what you’re in the market for: a savings account, a checking account, or both. NerdWallet spent more than 200 hours comparing and rating dozens of financial institutions to identify those with the best deposit accounts. Top Overall Banks: Seven financial institutions earned excellent marks in both our.

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Improving Customer Experience For Business Growth

Payment Savvy

If you have been in the business world for a while, then you can testify how loyal clients can be when treated right. Customer support is an integral part of every company, whether big or small. As days go by, more and more executives realize the importance of improving customer experience, especially because of how it can significantly grow your business.

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When Do Your Hotel Points Expire?

Nerd Wallet

You’d be hard-pressed to find a financial expert who would advise against saving money, but when it comes to the currency of hotel points, many travel experts agree it would behoove you to spend them, not save them. For starters, points can undergo devaluations, meaning the same amount of points that booked you five nights. Sally French is a writer at NerdWallet.

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The Power of Storytelling in Risk Management

Speaker: Dr. Karen Hardy, CEO and Chief Risk Officer of Strategic Leadership Advisors LLC

Communication is a core component of a resilient organization's risk management framework. However, risk communication involves more than just reporting information and populating dashboards, and we may be limiting our skillset. Storytelling is the ability to express ideas and convey messages to others, including stakeholders. When done effectively, it can help interpret complex risk environments for leaders and inform their decision-making.

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The Matrix: Does Your Law Have a Way to Move Cases Forward?

NCBA Law Practice Management Blog

Sure, you might say: because we eventually close every case we work on. Of course, that’s not exactly the question. What I’m really asking is: D o you have efficient processes in place for moving cases forward? The simple fact is that you probably aren’t as efficient as you need to be. One thing that law firms often neglect is creating methods for driving t he right cases ahead, at speed.

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Starter Credit Cards Are Still a Thing but Harder to Get

Nerd Wallet

Starter credit cards, aimed at those who are new to credit, have been around since at least the 1970s — and they used to be much easier to qualify for. Card issuers once were able to lure young adults, particularly students, with a variety of incentives that federal regulations now prohibit under the Credit Card. Melissa Lambarena is a writer at NerdWallet.

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CFPB, FTC, State, and Federal Law Enforcement Partners Announce Nationwide Crackdown on Phantom and Abusive Debt Collection

Consumer Finance

‘Operation Corrupt Collector’ targets debt collectors trying to collect on non-existent debts, using illegal scare tactics.

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Birmingham Partner Angie Smith Selected to Serve on Alabama State Bar’s Pro Bono Committee

Burr Forman

Burr’s Angie Smith has been selected to serve on the Alabama State Bar’s Pro Bono and Public Service Committee. The Committee promotes access to justice through the governance and management of the Volunteer Lawyers Program, primarily by promoting the growth of the program throughout all areas of the state, including recruiting and recognizing volunteers.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.