Account Recovery
OCTOBER 30, 2023
A speech on Thursday from the Enforcement Director at the Consumer Financial Protection Bureau had a “good news, bad news” kind of vibe for the debt collection industry. The bad news is that the Bureau is bolstering its enforcement department by hiring 75 more employees to go after the bad actors.
UK debt collections
OCTOBER 30, 2023
The number of insolvent restaurant companies is increasing week on week it has been reported. In new data, it has been revealed that the number of insolvent restaurant companies has has risen by 46% in the past year. The total increased from 1,517 in 2021/22 to 2,214 in 2022/23, amid rising costs of servicing debt and the squeeze on consumer spending, according to advisory firm Mazars.
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Account Recovery
OCTOBER 30, 2023
Judge Grants MTD in FCRA, FDCPA Case Against Collector, Credit Reporting Agency CFPB Bolstering Enforcement Unit, But Collections Might Be Off Radar FTC Amends Safeguards Rule Compliance Digest – October 30 WORTH NOTING: More towns are weighing in on when kids are too old to trick-or-treat anymore … A debate is raging over whether The […]
Taurus Collect
OCTOBER 30, 2023
Understanding the art of debt collection can be a challenging task for any business, especially when the debtor refuses to pay despite many reminders. In such situations, engaging a collections agency becomes inevitable. What if there was a way to ensure you’re not spending resources without results? Welcome to the world of “ No Collection, No Fee Debt Collection ” – a strategy that puts your business first.
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.
Account Recovery
OCTOBER 30, 2023
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.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
OCTOBER 30, 2023
A District Court judge in New Jersey has granted motions to dismiss filed by the defendants in a Fair Debt Collection Practices Act and Fair Credit Reporting Act lawsuit because the plaintiff, who was representing herself, failed to include enough facts in her complaint to adequately back up her claims.
Taurus Collect
OCTOBER 30, 2023
Navigating the financial maze of unpaid debts can be a daunting task for any business. When customers default on their payments, it can have a significant impact on your cash flow and overall business health. If you find yourself in this predicament, it might be time to consider engaging the services of a third-party collection agency. One popular model attracting businesses is the ‘debt collectors no win no fee’ approach, which ensures that you only pay when the agency successfully
Account Recovery
OCTOBER 30, 2023
The Federal Trade Commission on Friday announced it has amended the Safeguards Rule that will require non-bank financial institutions to report data breaches to the agency.
Troutman Sanders
OCTOBER 30, 2023
The Securities and Exchange Commission’s Division of Examinations has outlined its 2024 Examination Priorities, with a significant focus on cryptocurrency, emerging technology, and Anti-Money Laundering (AML) laws. This has important implications for financial services. Our Regulatory Oversight blog has the details; key highlights are below. Examinations will focus on the offer, sale, recommendation, and trading of crypto assets.
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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.
Troutman Sanders
OCTOBER 30, 2023
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On October 27, the Federal Trade Commission (FTC) announced that it approved an amendment to the Safeguards Rule that would require nonbanking institutions to report certain data breaches and other security events to the agency.
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