Mon.Oct 12, 2020

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Compliance Digest – October 12

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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12 Biggest Personal Financial Mistakes That Doctors Make

Nexa Collect

Doctors are smart people. But even smart people make dumb mistakes sometimes. Going to medical school doesn’t guarantee that you how to handle your finances. Newly minted physicians earn high incomes but have large amounts of student debt, and generally require specialized insurance. This can get people into trouble if they aren’t aware of best practices for building and holding onto wealth.

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Maine Credit Reporting Amendments Pre-Empted by FCRA, Judge Rules

Account Recovery

A District Court judge in Maine has granted a trade association’s motion for judgment after it sued the state for enacting laws that governed how, among other things, medical debts are reported to credit reporting agencies by collection agencies. A copy of the ruling in the case of Consumer Data Industry Association v. Aaron M. … The post Maine Credit Reporting Amendments Pre-Empted by FCRA, Judge Rules appeared first on AccountsRecovery.net.

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How to Handle College Loan Debt as an Unemployed Recent Grad

Nerd Wallet

Entry-level jobs are scarce for recent college graduates, which leaves the Class of 2020 in a precarious position as their student loan debt comes due. Taylor Cabrera has been job-hunting for months since graduating from the University of Mississippi last spring with dual bachelor’s degrees in biology and physics, and has moved in with family. Anna Helhoski is a writer at NerdWallet.

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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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Crown Asset Management Continues Its Commitment to Atlanta’s Frontline Workers

Account Recovery

Through October 28, Crown Asset Management (“CAM”) is matching each dollar donated to Feed the Frontlines, a program offered by Gourmet Innovations Catering & More. With this program, Gourmet Innovations is continuing their commitment to feeding Atlanta’s frontline workers during the COVID-19 pandemic. October 28th is National First Responder’s Day.

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Wash. State Collection Board Extends Emergency Remote Work Rule, Moving Forward With Permanent Proposal

Account Recovery

The Washington Collection Agency Board, under the state’s Department of Licensing, has extended an emergency rule allowing collection agency workers to continue working from home while also starting work on a permanent rule to allow working remotely to continue unimpeded. The board held a virtual meeting last week. It agreed to extend the emergency rule, … The post Wash.

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How to Invest in CDs: 3 Strategies

Nerd Wallet

When choosing a certificate of deposit, you might ask yourself — or the internet — whether you’re getting the best rate. After all, once you have a CD, you lock in that rate for months or years. You can’t predict exactly what CD rates will look like in the future, but you can use strategies. Spencer Tierney is a writer at NerdWallet. Email: spencer.tierney@nerdwallet.com.

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Judge Denies MTD in FDCPA Case Over Intangible Injuries

Account Recovery

A District Court judge in Florida has denied a defendant’s motion to dismiss a complaint for lack of subject matter jurisdiction after the judge had already granted summary judgment in favor of the plaintiff, choosing to take a second look following a ruling in an Appeals Court case. A copy of the ruling in the … The post Judge Denies MTD in FDCPA Case Over Intangible Injuries appeared first on AccountsRecovery.net.

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Is the Blue Delta SkyMiles Card From AmEx Worth It?

Nerd Wallet

Finding a no-annual-fee credit card is simple enough, but finding a no-annual-fee card that offers competitive rewards and benefits is harder. The Delta SkyMiles® Blue American Express Card is a valuable option if you prefer flying on Delta and want to avoid the high annual fees of other premium travel cards. Deciding whether the Delta. Jennifer Calonia is a writer at NerdWallet.

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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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Daily Digest – October 12. Judge Denies MTD in FDCPA Case Over Intangible Injuries; Maine Credit Reporting Amendments Pre-Empted by FCRA, Judge Rules

Account Recovery

JUDGE DENIES MTD IN FDCPA CASE OVER INTANGIBLE INJURIES A District Court judge in Florida has denied a defendant’s motion to dismiss a complaint for lack of subject matter jurisdiction after the judge had already granted summary judgment in favor of the plaintiff, choosing to take a second look following a ruling in an Appeals … The post Daily Digest – October 12.

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SkyTeam Alliance Award Sweet Spots and Transfer Partners

Nerd Wallet

Airline alliances offer benefits, diverse destinations and plenty of confusion for even the most veteran travelers. The SkyTeam Alliance includes 19 separate airlines, each with its own award chart, routing rules and transfer partners, so wading through all the options is nearly impossible. Here we’ve identified some of the best ways to use miles and.

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Alternative Consumer Credit Data Plays an Important Role in Financing

Micro Bilt

The year 2020 is one that will live on in infamy long after the chaos of global pandemic and the financial fallout of a nation shutting down for several months have passed. We’ve learned a lot during that time, including the importance of alternative consumer credit data for painting a clearer picture of someone’s “creditworthiness.”.

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Is Sallie Mae a Federal or Private Loan?

Nerd Wallet

Key takeaways All Sallie Mae loans taken out since 2014 are private. The best way to determine if you have federal or private student loans is to check studentaid.gov. If you need to borrow money for college, exhaust federal student loans before taking out a private student loan. All new Sallie Mae loans are private. Cecilia Clark 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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5 Tips for Negotiating Salary (yes, even now)

The Kaplan Group

Negotiating salary intimidates a lot of job hunters, especially in today’s economy. In addition to the health crisis, Covid-19 has caused an economic and employment crisis. The official unemployment rate hit a high of 14.7 percent in April, and continues to hover around 7 to 8 percent. But, that doesn’t mean that if you do find a new job you should simply accept what you are offered.

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10 Countertop Materials to Make Your Kitchen Pop

Nerd Wallet

Replacing kitchen countertops is one of the most transformative aspects of any kitchen remodel. But with countless options, the decision can feel overwhelming. That’s why we’ve done some of the homework for you. Here’s our quick guide to 10 of the most popular kitchen countertop materials. Note that costs per square foot can range from. Roberta Pescow is a writer at NerdWallet.

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Power up your ERP for flexible credit management

On Guard

An Enterprise Resource Planning (ERP) system is a powerful tool for credit management and most companies, of all sizes, are now implementing ERP, according to a recent report. However, whilst an ERP system has many benefits , the majority of these systems are less innovative and flexible than specialist software. They also don’t offer the same level of personalisation and functionality.

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Class of 2019 Borrowed Less, Report Finds

Nerd Wallet

The average debt among undergraduate students with loans in the class of 2019 is $28,950, according to a new report from The Institute of College Access and Success, a nonprofit focused on higher education research and advocacy. That debt marks a slight decrease from $29,200 for the class of 2018. The percentage of students in. 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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New Data Shows 3x Jump in Medical Equipment Fraud

Fico Collections

Nothing presents more opportunities to fraudsters than change, and 2020 has served up plenty. As the COVID-19 pandemic has unfolded, we’ve seen rapid change in a wide range of consumer behaviors. This has yielded a rise in medical equipment fraud and put banks’ fraud detection systems into overdrive. Luckily, the FICO® Falcon® Platform incorporates advanced AI and machine learning capabilities to detect fraud patterns as they emerge, with an understanding of customer purchase patterns — includin

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Looking to Transfer Credit Card Points? Target These Partners

Nerd Wallet

Travel credit cards with flexible points can offer excellent value. They can also seem dizzyingly complicated. Should you use the points to book travel directly? Transfer to partners? If so, which partners offer the best value? It’s easy to sign up for one of these cards and then balk when it comes to actually using. Sam Kemmis is a writer at NerdWallet.

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Oct 12, Medical Bills Sent to Collections While Making Payments

Debt Collection Answers

Can medical bills be sent to collections while making payments? Learn what to do now!

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Smart Money Podcast: Reducing Taxes, and Picking the Best Investing Platform

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 the few remaining ways people can reduce their tax bills, including contributing more to retirement and health care funds. Then we pivot to this week’s question from Marco in New York, who says, “I’ve. Liz Weston 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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CFPB, FTC, Federal and State Law Enforcement Crackdown on Corrupt Debt Collectors

Collection Industry News

On September 29, 2020, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC), along with more than 50 federal and state law enforcement partners, announced a nationwide law enforcement and outreach initiative designed to protect consumers from phantom debt collection, and abusive and threatening debt collection practices.

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Construction Industry Concerned Over Pandemic’s Long-Term Impacts

NACM

Eight months into the pandemic, construction professionals are raising concerns over potential long-term impacts leading into the coming year. Associated Builders and Contractors' Construction Executive magazine recently conducted a survey highlighting the top concerns, including "supply chain disruptions, prolonged municipal permitting processes a.

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Eleventh Circuit Affirms Dismissal of FDCPA Suit Over SOL

Collection Industry News

The Court of Appeals for the Eleventh Circuit affirmed the dismissal of a Fair Debt Collection Practices Act (“FDCPA”) lawsuit finding Georgia’s six-month statute of limitations renewal statute did not apply to the FDCPA. In Edwards v. Solomon & Solomon , Edwards filed a Complaint against Solomon and Solomon (“Solomon”), a third-party collection agency in Georgia State Court, alleging violations of the FDCPA.

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Yes, Debt Collectors Can Still Call Numbers Supplied to Creditors as Part of Underlying Transaction

Collection Industry News

Really quick one for you. TCPAWorld is so topsy-turvey that it is good to level set and remind ourselves of some basics once in a while. Here’s some bedrock—debt collectors can call numbers supplied by the consumer to an original creditor as part of a credit transaction. The consent flows “downhill” in that instance, automatically. That’s been the case since 2009, but here’s a ruling from yesterday that says it again: Amadasun v.

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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.