Fri.Jan 28, 2022

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Judge Grants Motion for Reconsideration and Remands FDCPA Case Back to State Court

Account Recovery

A defendant in a Fair Debt Collection Practices Act case may have won the battle in having its motion for summary judgment granted for lack of standing, but could end up losing the war after a Magistrate Court judge granted a plaintiffs’ motion for Reconsideration, Correction, and Remand, sending the case back to state court. … The post Judge Grants Motion for Reconsideration and Remands FDCPA Case Back to State Court appeared first on AccountsRecovery.net.

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The Influence of Black Entrepreneurs on America's Economy

Enterprise Recovery

To inspire entrepreneurship in a community that is least likely to receive startup funding, we've shared inspiring quotes from Black entrepreneurs who've had to overcome hardships to achieve success. Some key findings in the research for that article included a diversity report that found that only one percent of venture-backed founders were Black. The U.S. economy benefits from Black entrepreneurs and investing in more Black-owned businesses will reap rewards for all Americans.

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New Investments, Innovations in the World of Credit Scores

Account Recovery

More money and innovation continue to pour into credit reporting, with companies raising money to more deeply analyze credit score trends while other innovations are allowing consumers to create their own credit scores. SavvyMoney, for example, announced this week that it has raised $45 million as part of a new round of funding. The company … The post New Investments, Innovations in the World of Credit Scores appeared first on AccountsRecovery.net.

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Why Banks Are Eliminating Overdraft Fees

Nerd Wallet

The average overdraft fee costs consumers $35 per infraction, which makes it an inconvenient and frustrating part of day-to-day banking for many people. But some major banks — Capital One, Bank of America, Truist, U.S. Bank and Wells Fargo — have made recent moves to reduce or eliminate overdraft fees for their customers. In 2019, Chanelle Bessette writes for 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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FTC Returns More Than $3.7 Million To Consumers Harmed by Online Lender Avant

Account Recovery

The Federal Trade Commission is returning more than $3.7 million to consumers who lost money because of unfair and deceptive loan servicing practices by online lender Avant, LLC. The FTC sued Avant in April 2019, alleging that the company falsely advertised that it would accept payments by credit or debit cards, when in fact it did … The post FTC Returns More Than $3.7 Million To Consumers Harmed by Online Lender Avant appeared first on AccountsRecovery.net.

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Report Calls Out N.C. Hospitals to Fix Medical Debt and Charity Care Options

Account Recovery

Almost one-third of the total amount of bad debt incurred at hospitals in North Carolina is attributable to individuals who would have otherwise qualified for charity care — three times higher than the national average, according to a report that has been released by the state’s Office of the Treasurer. The report was quickly criticized … The post Report Calls Out N.C.

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Auto Loan Amortization Calculator

Nerd Wallet

While auto loan calculators show you a payment that remains the same throughout the life of the loan, the amount you pay toward interest typically changes each month. The amount of interest you pay is based on the loan balance on your payment due date. If you pay more than the interest — and your. NerdWallet writes for NerdWallet. Email: articles@nerdwallet.com.

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Daily Digest – January 28. Judge Grants Reconsideration Motion to Remand Case Back to State Court; New Investments, Innovations in Credit Scoring

Account Recovery

JUDGE GRANTS MOTION FOR RECONSIDERATION AND REMANDS FDCPA CASE BACK TO STATE COURT A defendant in a Fair Debt Collection Practices Act case may have won the battle in having its motion for summary judgment granted for lack of standing, but could end up losing the war after a Magistrate Court judge granted a plaintiffs’ … The post Daily Digest – January 28.

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The Guide to Anytime Fares on Southwest Airlines

Nerd Wallet

If you’ve ever flown Southwest Airlines, you’ve seen that the carrier doesn’t differentiate its seats between first class, premium economy or economy. With the exception of bulkhead rows and emergency-exit rows that offer extra legroom, all seats look the same. However, when you go online to book a Southwest ticket, you might notice three different.

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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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10 Pros and Cons of Mortgages

Credit Corp

This article originally appeared on The Financially Independent Millennial and was republished here with permission. If you’ve been paying attention to the housing market recently, you will have noticed it’s on fire. From Seattle, WA, to St. Petersburg, FL, there isn’t a market that hasn’t been affected by the low mortgage rates and high millennial demand for housing.

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Credit Card Fraud: What Small Businesses Can Do

Nerd Wallet

Credit card fraud is the unauthorized use of a credit card. While cardholders can often avoid the financial liability for unauthorized transactions, it can come at a high cost for businesses, especially those accepting in-person payments on older card readers. The liability for fraud depends on which safeguards are in place. In general: The card. Lisa Anthony writes for NerdWallet.

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2021 Consumer Financial Services Year in Review & A Look Ahead

Troutman Sanders

2021 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions and stay ahead of the curve. In this report , we share developments on auto finance, background screening, bankruptcy, consumer class actions, consumer credit reporting, cybersecurity and privacy, debt collection, fair lending, key trends and legislation in health care, mortg

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A Guide to Best Western Elite Status

Nerd Wallet

With 18 brands located in over 100 countries, the Best Western Hotels & Resorts group is a worldwide name. Even if you’re an infrequent traveler, you’ve likely seen one or two of these around your town. Like many other hotel chains, Best Western offers a loyalty program designed to reward frequent customers. How Best Western. Carissa Rawson writes for 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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Meet The 2022 FICO Decisions Awards Winners!

Fico Collections

2022 FICO Decisions Award Winners - Decisions That Matter. I am thrilled to announce the winners of the 2022 FICO® Decisions Awards. . This year we have 11 winners across 8 award categories representing companies from every corner of the globe. Many entries this year demonstrated innovative use of technology and creative thinking to respond to the challenges of the pandemic.

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How Your Business Can Accept ACH Payments

Nerd Wallet

An ACH transfer uses the “automated clearing house” network to process payments directly to and from bank accounts. You might never have heard of ACH, but you’ve probably used it for direct deposit, utility payments, Social Security benefits or tax refunds. The ACH network handles more than 26 billion payments totaling over $61 trillion per. Alex Rosenberg writes for NerdWallet.

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Ward off 2022 Tax Season Flu – File Early and Electronically

Fraser

My grandfather was very understated, if he said he was “concerned” it meant he was worried sick about it. If he said he was “worried,” he meant, “all hands on-deck, 5 alarm fire, women and children to the life boats.” So, it is with that the Internal Revenue Service kicked off the 2022 tax filing season this week with an urgent reminder to taxpayers to take extra precautions this year to file an accurate tax return electronically to help speed refunds.

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Common causes of bankruptcy that may surprise you

Roths Child Law

Bankruptcy is often thought of as something that only happens to people when they have been careless with money. While overspending and exceeding your means can contribute to bankruptcy, this is not always the case. In fact, the main causes of bankruptcy seem to be applicable to regular, hard-working citizens. Millions of people in the U.S. are struggling just to keep the lights on or heat their homes.

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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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FICO Services: Smooth and Steady Over Holiday Crunch

Fico Collections

Just as Black Friday and Cyber Monday drive peak volumes in retail sales, both in stores and online, they also drive peak volumes for FICO. Businesses around the world depend on our hosted services for everything from new account onboarding to transaction monitoring and fraud protection, and transaction volumes soar during the busy holiday period. This is when the stability of the FICO network shines.

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"Buy now, pay later schemes are catching the eye of consumers, and of federal regulators"

Public Citizen

The Guardian reports that "Industry says no-interest BNPL loans are more equitable than credit cards but consumers say they can be a spending trap." The article is here.

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Recent news on student loan debt and debt forgiveness

Public Citizen

ABC reports that "Over 70,000 student borrowers have qualified for debt forgiveness since the Education Department overhauled the program last fall. But another deadline is looming." While CNBC reports that "Majority of borrowers say taking on federal student loan debt is not worth it." Also from a CNBC survey , "Most Americans want Biden to prioritize student loan forgiveness.