Account Recovery

JANUARY 17, 2024

The Attorney General of Colorado yesterday announced a settlement with TrueAccord that will see the company pay $500,000 to settle claims it collected on illegal high-interest debt. The Background: In September 2022, investigators with the Colorado Department of Law notified the company that they would be conducting an examination of the company’s debt collection processes.

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Collections Loans 147

Troutman Sanders

JANUARY 17, 2024

On January 9, SB 1146 , entitled the Earned Wage Access Services Act, was introduced into the Florida Senate. The bill would require earned wage access (EWA) providers to register with the Florida Financial Services Commission. The bill also requires EWA providers to develop procedures for dealing with consumer questions and complaints, requires consumer notifications, and requires providers to offer at least one reasonable option for consumers to get EWA proceeds at no cost.

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Debt collector Collection Agencies Collections Agency Financial services 52

Account Recovery

JANUARY 17, 2024

Colorado AG Fines Collector $500k for Collecting on Illegal Loans Judge Rules Maine FCRA Partially Preempted by Federal Law House Financial Services Committee Forms AI Working Group 20 Companies Seeking Collection Talent WORTH NOTING: It’s so cold in some parts of the country, that Teslas won’t charge … Etiquette experts on what to do when […]

Loans 147

Loans Collections Financial services 147

Troutman Sanders

JANUARY 17, 2024

Late last month, the Revenue Based Finance Coalition (RBFC), a trade group of sales-based financing providers, filed a complaint in the U.S. District Court for the Southern District of Florida challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau) final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule).

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Trade Creditors Debtor Financial services 52

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

JANUARY 17, 2024

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.

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Accounts Receivables Management Collections 130

Account Recovery

JANUARY 17, 2024

A District Court judge in Maine has granted partial declaratory relief to a trade organization representing credit reporting agencies that sued the state for overstepping its authority by enacting its own version of the Fair Credit Reporting Act.

Trade 130

Trade 130

NACM

JANUARY 17, 2024

In the realm of credit management, staying sharp goes beyond mere preference—it's an indispensable asset. It makes for increased efficiency and productivity in the workplace. Through NACM's six-level Professional Certification Program, credit professionals are not only keeping their mind agile, but they're also growing the credit knowledge to navig.

Credit Management 5

Credit Management 5

Troutman Sanders

JANUARY 17, 2024

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 January 16, the Federal Trade Commission (FTC) reported that 2 million new telephone numbers have been added to the National Do Not Call Registry for the 12-month period ending September 30, 2023.

Financial services 52

Financial services Student loans Student Loans Trade 52

PDC Flow

JANUARY 17, 2024

Does your business still take traditional paper checks? Waiting for payments in the mail makes it harder to reconcile accounts, stalls work, and impacts cash flow. Echeck is a faster, more modern way to take payments. If your company wants to speed up payment cycles and make paying easier for customers, accepting eChecks is the way to go. What is an eCheck Payment?

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Banks 67

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Collections

Account Recovery

JANUARY 17, 2024

The top Republican and Democrat on the House Financial Services Committee announced last week the formation of a bipartisan working group on artificial intelligence that will examine how the technology is impacting the industry. What’s Happening: Rep. Patrick McHenry [R-N.C.], the chair of the committee, and Rep. Maxine Waters [D-Calif.

Financial services 130

Financial services 130

Troutman Sanders

JANUARY 17, 2024

Cryptocurrency, with its anonymity and decentralization, has revolutionized financial transactions. However, it has also opened doors for illicit activities, such as terrorist financing. Below we explore the role of cryptocurrency in terrorist financing, focusing on Hamas, a U.S.-designated terrorist organization. Per a November 2023 Congressional Research Service (CRS) Report , Hamas has been soliciting cryptocurrency donations since at least 2019, but the scale and effectiveness of these effor

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Financial Institution Government Banks Financial services 52