Mon.May 23, 2022

article thumbnail

Appeals Court Overturns Dismissal of FDCPA Suit Based on Description of Debt in Letter

Account Recovery

The Court of Appeals for the Seventh Circuit has overturned a lower court’s dismissal of a Fair Debt Collection Practices Act case for lack of standing, ruling that the plaintiff had standing because he alleged a concrete injury — that interest was continuing to accrue on an unpaid judgment — by not acting on a … The post Appeals Court Overturns Dismissal of FDCPA Suit Based on Description of Debt in Letter appeared first on AccountsRecovery.net.

article thumbnail

Pay in Installments or Full: Which is Better?

Nexa Collect

A debt collection agency will almost always allow you to make payments in installments. Should a borrower/debtor go for it or not? Benefits of Paying in Full (in one lump sum payment). You will likely strike a deal to settle the debt for a lower amount (keep insisting). Installments result in more work for collection agencies. They would rather accept a lower amount ( like a 10% or a 20% lower settlement) than linger a debt for months.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FCC Adopts New Rules to Battle Robocalls

Account Recovery

The Federal Communications Commission has adopted a new rule that requires gateway providers — companies that connect calls between networks — to comply with STIR/SHAKEN caller ID protocols and take additional measures to verify the identity of providers whose traffic they are routing or face having their calls blocked from being connected.

246
246
article thumbnail

CFPB Launches New Effort to Promote Competition and Innovation in Consumer Finance

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) is opening a new office, the Office of Competition and Innovation, as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants. The office will replace the Office of Innovation that focused on an application-based process to confer special regulatory treatment on individual companies.

article thumbnail

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.

article thumbnail

Compliance Digest – May 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.

246
246

More Trending

article thumbnail

Higher Valuations and More Efficient Time-to-Close with New CAS Service Offering

Account Recovery

May 18, 2022: Philadelphia, PA — Having participated in more than 130 mergers and acquisitions over the last 20 years — representing more than $1.5 billion in total deal value — the team members of Corporate Advisory Solutions (CAS) are pleased to announce their new Exit Strategy service line, focused on helping business owners and … The post Higher Valuations and More Efficient Time-to-Close with New CAS Service Offering appeared first on AccountsRecovery.net.

article thumbnail

What Are Typical Small-Business Loan Terms?

Nerd Wallet

Small-business loan terms determine how long a small-business owner has to pay back their borrowed money, plus interest. Typical loan terms, also referred to as repayment terms, can vary from a few months to 25 years — it depends on your lender and the type of business loan. You and your lender will establish a. Hillary Crawford writes for NerdWallet.

Loans 95
article thumbnail

Daily Digest – May 23. Appeals Court Overturns Dismissal of FDCPA Suit; FCC Adopts New Rules to Battle Robocalls

Account Recovery

APPEALS COURT OVERTURNS DISMISSAL OF FDCPA SUIT BASED ON DESCRIPTION OF DEBT IN LETTER The Court of Appeals for the Seventh Circuit has overturned a lower court’s dismissal of a Fair Debt Collection Practices Act case for lack of standing, ruling that the plaintiff had standing because he alleged a concrete injury — that interest … The post Daily Digest – May 23.

article thumbnail

Council hit with huge writ for Unpaid Care home fees

UK debt collections

A Council in Wales has been hit with a high court writ to recover unpaid care home fees it owes. Gwynedd Council is reported to owe a large sum to a private care home service provider. Meddyg Care Dementia Homes is taking Debt Collection action against the council after it ignored a judgement made by Northampton Small Claims Court. The council failed to act on a County County Court Judgment issued in April ordering it to repay £44,529.46.

article thumbnail

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.

article thumbnail

‘Boomerang’ Employees Offer New Hiring Pipeline

Account Recovery

Some people are learning the hard way that the grass isn’t always greener somewhere else. While the term that I’m going to discuss in this article is not necessarily new, it is one that is happening more and more, which means it’s likely happening to companies in the accounts receivable management industry, too. The number … The post ‘Boomerang’ Employees Offer New Hiring Pipeline appeared first on AccountsRecovery.net.

article thumbnail

A Guide to TSA PreCheck for Military Members

Nerd Wallet

Are you in the military — or do you know someone who is? Do them a favor and tell them to sign up for TSA PreCheck, the trusted-traveler program that helps you move quickly through the airport. Popular with many travelers, TSA PreCheck gives military members additional benefits. Let’s take a look at what they. Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com.

86
article thumbnail

Supporting Entrepreneurship in 2022 and Beyond

Prosperity Now

The first week of May marked National Small Business Week , a time to recognize the importance of entrepreneurship to

98
article thumbnail

Interest Rates on New Federal Student Loans Going Up for 2022-23

Nerd Wallet

Two years ago, federal student loan borrowers enjoyed the lowest interest rates ever on their loans. This fall, rates for undergraduate borrowers will be nearly double what they were in 2020-21. The interest rates for new undergraduate direct federal student loans are set to increase to 4.99% for the 2022-23 academic year, up from 3.73%. Colin Beresford writes for NerdWallet.

article thumbnail

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?

article thumbnail

Business insolvencies predicted to skyrocket

UK debt collections

Trade Credit insurers Allianz Trade have predicted that Business insolvencies will skyrocket. They predict company insolvencies will rise by a huge 37% this year. This would see the UK become the first big European economy to reach pre-pandemic levels of corporate insolvencies. Research suggests the dramatic rise in Business insolvencies will be driven by various factors.

Trade 59
article thumbnail

How to Save Money on Hotels

Nerd Wallet

Frequent travelers have their routines set. They know how to maximize their elite status perks and how to save money on hotels in the process. Still, there are some tricks of the trade that may not be so familiar to everyone. Here are eight ideas to save money on hotels, whether you’re staying for one. Ramsey Qubein writes for NerdWallet. Email: travel@nerdwallet.com.

Trade 73
article thumbnail

Department of Commerce Requests Public Comments on Digital Assets

Troutman Sanders

On May 19, the Department of Commerce’s International Trade Administration issued a Request for Comment (RFC), seeking public input on the development of a framework for driving economic competitiveness and leadership in, and leveraging of, digital asset technologies as part of reinforcing U.S. leadership in the global financial system. This RFC is in response to President Biden’s March 9 Executive Order , “ Ensuring Responsible Development of Digital Assets ,” which outlines the first U.S. comp

Trade 52
article thumbnail

The Pros and Cons of Booking Flights on Kayak

Nerd Wallet

When looking for the lowest airfare and best routes, searching individually for each airline is time-consuming and tedious. Likewise, quickly comparing multiple results across several websites can be a significant challenge. That’s why online travel agencies, like Kayak, are so popular: OTAs provide booking options for numerous airlines in one spot, saving you time and.

71
article thumbnail

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.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative and regulatory events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities.

article thumbnail

The Delta Seat Selection Guide

Nerd Wallet

Booking a Delta Air Lines flight and wondering about Delta’s seat selection? It’s no wonder — with differing benefits for elite members and strict restrictions on basic economy tickets, figuring out how and when to choose your Delta seat can quickly become overwhelming. Here’s a look at Delta seat assignments, how Delta Air Lines’ seating. Carissa Rawson writes for NerdWallet.

69
article thumbnail

Price Meese prevails in federal court telecom suit

Price Meese

Click on attached opinion where Price Meese attorneys represented the prevailing party in a suit filed in the Federal District Court of New Jersey. Click here: Opinion. The post Price Meese prevails in federal court telecom suit appeared first on Price, Meese, Shulman & D’Arminio, PC.

52
article thumbnail

Advantages and Disadvantages of a Business Bank Loan

Nerd Wallet

According to the Federal Reserve’s 2021 Small Business Credit Survey, banks remain the most common source of credit for small businesses — compared with options such as online lenders, community development financial institutions or credit unions. You can use a business bank loan for a variety of purposes: working capital, real estate acquisition, equipment purchase.

Banks 67
article thumbnail

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.

article thumbnail

FTC Calls for Research Presentations for PrivacyCon 2022

Public Citizen

The Federal Trade Commission has issued a call for research presentations on a wide range of privacy and data security topics such as commercial surveillance and automated decision making for its annual PrivacyCon event, which will take place virtually on November 1, 2022. PrivacyCon 2022 will bring together a diverse group of stakeholders to discuss the latest research and trends related to consumer privacy and data security.

Trade 45
article thumbnail

Smart Money Podcast: Fruitful Yard Sale, and When Not 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 conversation about how to have a successful — and moneymaking — yard sale. Then we pivot to this week’s money question from a listener’s voicemail. Here it is: “Hi, this is Kate. And my question is. Liz Weston, CFP® writes for NerdWallet.

67
article thumbnail

Arbitration win for consumer plaintiff in the Supreme Court

Public Citizen

A consumer plaintiff notched a rare Supreme Court win in a Federal Arbitration Act decision this morning, Morgan v. Sundance Inc. The first three paragraphs of Justice Kagan's unanimous opinion sum things up nicely: When a party who has agreed to arbitrate a dispute instead brings a lawsuit, the Federal Arbitration Act (FAA) entitles the defendant to file an application to stay the litigation.

Lawyers 45
article thumbnail

Equipment Leasing: What It Is, How It Works and Tax Implications

Nerd Wallet

Equipment leasing is a type of financing that lets you use a piece of heavy equipment for a set period of time. It can be a good choice if your business only needs a piece of equipment temporarily or if the tool will become less useful as it ages. But if you’re going to need. Rosalie Murphy writes for NerdWallet. Email: rmurphy@nerdwallet.com. The article Equipment Leasing: What It Is, How It Works and Tax Implications originally appeared on NerdWallet.

Loans 67
article thumbnail

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.