Mon.Nov 23, 2020

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Daily Digest – November 23. OCC Issues Propose Rule to End Operation Choke Point; CFPB Files Suit Against Debt Relief Company

Account Recovery

OCC ISSUES PROPOSED RULE TO OFFICIALLY END OPERATION CHOKE POINT Without ever mentioning its name, the Office of the Comptroller of the Currency on Friday issued a proposed rule that would put an end to Operation Choke Point by calling on banks to ensure provide access to services and capital based on the risks of … The post Daily Digest – November 23.

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Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2020

In the Red

Each year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval.

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Compliance Digest – November 23

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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Your Mental Health Can Affect How You Save Money

Nerd Wallet

Tools like spreadsheets and budgeting apps can help you get better at saving money. But you might need to look beyond hard numbers to get a full financial picture. Your mental health, especially during a stressful period such as the current pandemic, can play a role in money decisions. Know that if you’re dealing with. Spencer Tierney 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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OCC Issues Proposed Rule To Officially End Operation Choke Point

Account Recovery

Without ever mentioning its name, the Office of the Comptroller of the Currency on Friday issued a proposed rule that would put an end to Operation Choke Point by calling on banks to ensure provide access to services and capital based on the risks of the particular client and not make broad-based decisions that affect … The post OCC Issues Proposed Rule To Officially End Operation Choke Point appeared first on AccountsRecovery.net.

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More Trending

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FCC Imposes $10M Fine on Robocaller For Spoofing Competitor’s Number

Account Recovery

Spoofing a phone number is bad. Spoofing the phone number of your “bitter” competitor and then making more than 47,000 pre-recorded robocalls is even worse. Which is why the Federal Communications Commission has imposed a fine of nearly $10 million on Kenneth Moser for intentionally trying to harm the business of his competition. A copy … The post FCC Imposes $10M Fine on Robocaller For Spoofing Competitor’s Number appeared first on AccountsRecovery.net.

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Smart Money Podcast: The Holiday Shopping Episode

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 holiday shopping survey, which shows that, on average, people plan to spend a bit more this year but also to do more shopping online. Then we pivot to tips about how to get. Liz Weston is a writer at NerdWallet.

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CFPB Files Suit Against Debt Relief Company and its Owners

Account Recovery

The Consumer Financial Protection Bureau on Friday announce it had filed a lawsuit against a debt settlement company and its owners for allegedly taking money from customers before achieving the results it promised and deceiving individuals about “material aspects” of the services it provided. A copy of the complaint, filed in the District Court for … The post CFPB Files Suit Against Debt Relief Company and its Owners appeared first on AccountsRecovery.net.

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SBA Loans: How to Maximize Recovery by Liquidating Personal Property

Jimerson Firm

When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. Lenders must liquidate all personal property that has a Recoverable Value over $5,000. If the Recoverable Value is over $5,000, the lender must decide which method of liquidation is the most appropriate to maximize the recovery in the shortest amount of time.

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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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4 Benefits You Need From Your Travel Credit Card in 2021

Nerd Wallet

How much value did you get out of your Priority Pass membership this year? Did you ever use Global Entry in 2020? Sure, travel credit cards can offer luxurious benefits like hotel room upgrades, admission to airport lounges, elite status and access to priority lanes at airports. Yet here lies the problem: It’s unlikely you. Sally French is a writer at NerdWallet.

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Three Reasons To Track Your Team’s Performance

Debtor Daddy

Do you know how your finance team is spending their time? Do you know which activities are eating away at their time? Can you identify what your team’s strengths and weaknesses are? Better yet, do you know what strategies are the most successful in collecting cash? How can you tell if an update to your credit control process makes a difference if you don’t have the right metrics in place?

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Best Airline Hubs in the U.S. for Remote Workers

Nerd Wallet

As more companies hire remote workers, you may be able to do your job from nearly anywhere in the world. Though you could become a digital nomad with no permanent home — working from temporary locations for extended periods of time — it’s more likely that you’ll want a home base. Then, you can choose. Josh Garber is a writer at NerdWallet. Email: travel@nerdwallet.com.

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One Million Self Employed pushed into debt due to Covid late payments

UK debt collections

Over a million self employed freelancers have gone into debt since the pandemic began due to late payment. This startling revelation was detailed in a report released by the IPSE (The association of independent professionals and the self employed) along with digital bank starling. Research was undertaken by the parties to assess the major impact covid-19 has had on the UK’s self employed sector.

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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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Celebrity Cruise Line Eliminates Fees for Wi-Fi and Drinks

Nerd Wallet

COVID-19 has had a dramatic impact on nearly every segment of the travel industry, and cruises are no exception. As the situation has worsened, the cruise industry has been challenged to make big changes to its business model. On Nov. 10, Celebrity Cruises, which is owned by Royal Caribbean Cruises, announced an update that will. Michael Friedman is a writer at NerdWallet.

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ACRAnet on My Credit Report

Better Credit Blog

Did the name ACRAnet recently appear on your credit report? If so, it’s probably because you’ve applied for a mortgage, a new apartment, or even a job. While you might expect a credit check when you apply for a loan, many consumers don’t realize that background checks can result in a hard credit check as well. Whether a lender, landlord, or employer requested a screening of your credit report through ACRAnet, read on to learn more about how a hard inquiry from the company may impact your score.

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What Is a Second Mortgage?

Nerd Wallet

Second mortgages, or junior liens, are a way to turn your home equity into readily available funds without selling your house. A second mortgage increases your overall debt and can lead to foreclosure if you’re unable to pay it back. It’s considered “second” or junior because, in the event of bankruptcy or foreclosure, it’s second. Kate Wood is a writer at NerdWallet.

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How To Remove FMS Inc. From Your Credit Report

Better Credit Blog

Is FMS Inc. bombarding you with phone calls and letters? When a missed payment goes into collections, it can make your daily life stressful and wreak havoc on your credit score. Whether it’s for a $50 cable bill or a $5,000 hospital bill, a collections entry will stay on your credit report for seven years. But getting an entry from FMS Collections off your report could be easier than you think.

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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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The Case for Shopping on Black Friday in 2020

Nerd Wallet

Like most things in 2020, Black Friday won’t be the same this year. But at least in the case of holiday shopping, change might not necessarily be a bad thing. If you’re thinking about shopping on the day after Thanksgiving, here’s why you should — and at least one reason you shouldn’t. The day still. Courtney Jespersen is a writer at NerdWallet. Email: courtney@nerdwallet.com.

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A Time for Giving

Prosperity Now

As we begin the holiday season, a time that is usually marked by gift giving and celebration, communities across the

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What Does Car Insurance Cover?

Nerd Wallet

Car insurance is meant to prevent you from having to pay full repair expenses or medical bills after an accident. Most states require a minimum amount of liability insurance, but insurers can offer several other types of auto insurance. To decide which car insurance policy you need, research what is required in your state and. Kayda Norman is a writer at NerdWallet.

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Debt Collection in the Pandemic: Why UK Customers are Dissatisfied

Fico Collections

Knowing Your Customer, or KYC, is just as critical in debt collection as it is in other parts of the business. However, a recent survey by FICO and Censuswide shows just how far lenders are in the UK from doing effective customer communication based on KYC. KYC is a general legal obligation on the part of financial institutions to formally identify their customers.

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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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How to Clean Carpet: Methods, Costs and Tips

Nerd Wallet

Clean carpets make any home more attractive, and it often takes a multifaceted approach to get the job done right. This guide for how to clean carpet will help you find ways to freshen underfoot, whatever your budget. Vacuum Cost: $0 if you already own a vacuum; $50-$700 for a new vacuum; $10-$50 for dry. Roberta Pescow is a writer at NerdWallet. Email: USexpansion@nerdwallet.com.

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Savings Rates Are Staying Low. Here’s Why, and What to Do

Nerd Wallet

If your bank has lowered rates on your savings account, don’t take it personally. It’s not you, it’s them. Interest rates have dropped across the board, and they’re likely to stay low for a while. Yes, your savings may be earning smaller yields, but with a little time and attention, there are still ways to. Margarette Burnette is a writer at NerdWallet.

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