Account Recovery

SEPTEMBER 7, 2021

There is a new category of debt that emerging, digital-first collection agencies are seeing more of, and it appears this type of debt is going to become even more prevalent in the years to come, according to a recently published report. Known as “Buy Now, Pay Later,” this type of credit is being made available … The post More Consumers Taking on New Type of Debt, Calls for Regulation Get Louder appeared first on AccountsRecovery.net.

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Collection Agencies Collections Agency Collections 246

Nerd Wallet

SEPTEMBER 7, 2021

You may think you need a Fairy Godmother to afford a trip to Walt Disney World. However, with the help of points and miles, I spent less than $1,600 cash for two people (including cross-country airfare) on a recent trip with my boyfriend, who shares my penchant for both Disney and frugality. Had we paid. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com.

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Account Recovery

SEPTEMBER 7, 2021

The influx of media reports aimed at spotlighting “aggressive” collection efforts by hospitals and healthcare networks has led to a “substantial” decline in the number of lawsuits filed against individuals with unpaid healthcare debts, according to a new study. Looking at the number of collection lawsuits filed in Virginia before and after a series of … The post Bad PR Leads to ‘Substantial’ Decrease in Medical Collection Suits: Study appeared first on A

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Healthcare Collections 242

Nerd Wallet

SEPTEMBER 7, 2021

Many small-business owners structure their companies as limited liability companies, often abbreviated as LLCs. True to its name, the LLC business structure limits the extent to which business owners are personally liable for company debts or losses. But while an LLC structure offers some protection for your personal assets, it doesn’t protect your company from.

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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

SEPTEMBER 7, 2021

September 1 started a ticking clock for collectors working in California or collecting from individuals living in California, giving those companies four months to submit their application for a license from the state’s Department of Financial Protection and Innovation. Collectors must submit their applications prior to Jan. 1, 2022 in order to continue operating in … The post Resources to Help Companies Apply for California Collection License appeared first on AccountsRecovery.net.

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Collections 241

Account Recovery

SEPTEMBER 7, 2021

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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Nerd Wallet

SEPTEMBER 7, 2021

If you’re facing big bills from COVID-19 or other medical issues and you’re worried about your credit, keep this in mind: Your credit score can recover if it is badly damaged, but there are no such guarantees about your health. “To some extent you’ll have to balance your health versus your credit quality,” says credit. Bev O'Shea writes for NerdWallet.

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Account Recovery

SEPTEMBER 7, 2021

NDIL JUDGE GRANTS MSJ FOR DEFENDANT IN FDCPA CLASS ACTION OVER DUPLICATE DISPUTE NOTICES A District Court judge in Illinois has used a recent series of rulings from the Seventh Circuit Court of Appeals on standing to sue under the Fair Debt Collection Practices Act to grant a defendant’s motion for summary judgment, after the … The post Daily Digest – September 7.

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Fair Debt Collection Judgment Collections 238

Credit Corp

SEPTEMBER 7, 2021

A good credit score will make your life a lot easier; it will help you qualify for loans, apartments and even jobs. But you’re not born with a credit history. Much like you have to spend money to make money, you need to borrow money to prove you’re good at borrowing (and paying back your debts). In fact, according to Nationwide , credit scores help insurance companies predict future losses.

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Lender Creditworthiness Loans Banks 98

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Collections

Account Recovery

SEPTEMBER 7, 2021

A District Court judge in Illinois has used a recent series of rulings from the Seventh Circuit Court of Appeals on standing to sue under the Fair Debt Collection Practices Act to grant a defendant’s motion for summary judgment, after the judge had already certified a class in the case, ruling that even going as … The post NDIL Judge Grants MSJ For Defendant in FDCPA Class-Action Over Duplicate Dispute Notices appeared first on AccountsRecovery.net.

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Fair Debt Collection Judgment Collections 221

Nerd Wallet

SEPTEMBER 7, 2021

To protect your handyman business from third-party claims of bodily injury, property damage or advertising injury, you’ll need general liability insurance. General liability coverage may be sufficient for some handyman businesses, but others may benefit from additional policies, such as tools and equipment insurance or commercial auto insurance. You can shop for handyman business insurance.

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Auto Insurance 68

Consumer Finance

SEPTEMBER 7, 2021

The Consumer Financial Protection Bureau (CFPB) took action today against an income share agreement (ISA) provider for mispresenting its product and failing to comply with federal consumer financial law that governs private student loans.

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Student loans Student Loans Lender Government 74

Nerd Wallet

SEPTEMBER 7, 2021

The sticker shock on some medicines can be staggering, especially without insurance. But Amazon and Walmart are engaging in a price war for prescriptions. And the drug discount card networks they are leveraging may be well worth your consideration. Amazon Pharmacy offers six-month supplies of select prescription meds for as low as $6 to Prime. Hal M.

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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?

Banks

Burr Forman

SEPTEMBER 7, 2021

The “Legal Elite” are voted on by other attorneys in the area who choose the top lawyers in 26 different practice group categories. Winners are nominated and selected by their peers. Those nominated are viewed as the best and most well-respected attorneys in their fields. The attorneys selected to the list are featured in the August issue of Columbia Business Monthly, Greenville Business Magazine, and Charleston Business Magazine.

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Acquisition Creditor's Rights Lawyers Bankruptcy 59

Nerd Wallet

SEPTEMBER 7, 2021

If you’re a sole proprietor or are self-employed, business insurance may be the only thing that stands between your assets — including your personal assets — and havoc from lawsuits, property damage and other losses. Sole proprietors and people who are self-employed can purchase business insurance online or over the phone, either right from an. Tina Orem writes for NerdWallet.

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Micro Bilt

SEPTEMBER 7, 2021

Loss prevention is only one part of risk management and risk control that financial companies need to practice. No, financial products are not stolen off warehouse pallets or from retail shops. They are taken advantage of mainly through various forms of fraud. How can you develop a loss prevention strategy? Are there any true loss prevention solutions for managing loss?

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Retail 64

Nerd Wallet

SEPTEMBER 7, 2021

Ever tried to plan a trip to Walt Disney World? The sticker shock is real. Theme park tickets, meals, hotels and transportation all add up to a vacation cost that may take you years to save up for. But it doesn’t have to. Here’s how to go to Disney World for cheap. Flights to Disney. Carissa Rawson writes for NerdWallet. Email: wpguestuser+carissarawson@nerdwallet.com.

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Collections

Financial Forensic Services

SEPTEMBER 7, 2021

NICE QUIET TALK ABOUT SECRECY. Archived Interview of Joe Barber of the Gazette Telegraph. The other two men in the room lean back in their seats, studying me with lidded stares. By using a certain device, says the bigger fellow, “I can sit right here and dial up your phone. You don’t even have to answer it. It makes your phone into an open microphone.

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Trade Judgment Enforcement Judgment 52

Troutman Sanders

SEPTEMBER 7, 2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge.

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Financial services Student loans Student Loans Foreclosure 52

Burr Forman

SEPTEMBER 7, 2021

The Form I-94, Arrival/Departure Record is a document U.S. Customs and Border Protection (CBP) issues to all persons entering the United States except U.S. citizens, returning Legal Permanent Residents, and immigrant visa holders. It is important that nonimmigrants keep track of their I-94 record because it controls how long they can remain in the United States.

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Troutman Sanders

SEPTEMBER 7, 2021

We are pleased to announce that Troutman Pepper attorney, David Gettings, will be presenting during the Mortgage Bankers Association Regulatory Compliance Conference 2021 in Washington, D.C. Mortgage compliance professionals will have the perfect opportunity to hear first-hand from the regulators and policy makers that make the rules as well as get practical advice to meet today’s compliance challenges.

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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.

On Guard

SEPTEMBER 7, 2021

More than a quarter of finance professionals currently lack expertise in data processes and analysis. London, UK, 7 September 2021 – Forty-two percent of financial professionals believe having analytical skills will be a key requirement to fulfil their roles in the future, according to findings from the latest FinTech Barometer survey of finance professionals, carried out by Visma | Onguard, the fintech company that focuses on the order-to-cash process.

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Troutman Sanders

SEPTEMBER 7, 2021

On August 16, the Consumer Financial Protection Bureau (CFPB) filed a proposed settlement to resolve a lawsuit against a debt collection firm, Fair Collections & Outsourcing (FCO), and its owner, Michael Sobota, stemming from FCO’s alleged failure to implement proper policies and procedures, in addition to related Fair Credit Reporting Act (FCRA) and Fair Debt Collections Practices Act (FDCPA) violations.

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Fair Debt Collection Collections Collection Companies Consumer Credit 52

Collection Industry News

SEPTEMBER 7, 2021

Source: site. Yesterday, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited Notice of Proposed Rulemaking (NPRM) related to Dodd-Frank 1071. As we have discussed in this space , Section 1071 amends the Equal Credit Opportunity Act to mandate certain reporting requirements for financial services companies making business loans.

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Financial services Lender Creditors Loans 52

Collection Industry News

SEPTEMBER 7, 2021

Source: site. Nearly four years after the Consumer Financial Protection Bureau (“CFPB”) first promulgated its rule regulating payday loans, a federal district court in Texas upheld the payment provisions of the rule against various constitutional and other challenges. The court, which had previously stayed the rule’s original compliance date, also provided that the provisions would become effective in 286 days—on June 13, 2022.

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Trade Lender Loans Collections 40

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