Account Recovery
SEPTEMBER 12, 2022
Nearly three-quarters of Millennials are carrying non-mortgage debt, with the average member of that generation owing $117,000, according to the results of a recently released survey. Driving the News: Two-thirds of Millennials are carrying credit card debt, following by student loans (48%), personal loans (42%), medical debt (42%), and auto loans (40%).
American Profit Recovery
SEPTEMBER 12, 2022
Your accounts receivables never sleep and it’s always a great time to review your procedures and make any adjustments necessary. After all, the health of your business depends on it. And as we approach the last quarter of 2022, it’s a smart idea to take a pause and conduct a thorough review of all your accounts receivable procedures including how you handle late and non-paying customers.
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Account Recovery
SEPTEMBER 12, 2022
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.
Nexa Collect
SEPTEMBER 12, 2022
The most successful business owners tend to have a plan for everything. If you ask them where they see the company in one year, five years, or a decade- chances are, they have a plan for that. However, one very important thing that many savvy business owners may forget or procrastinate in planning is how their business will continue after they die. Yes, mortality is not something many of us are prepared to face, causing the idea of planning for your business after you have passed on to seem like
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 12, 2022
The Court of Appeals for the Eleventh Circuit has overturned a lower court’s dismissal of a Fair Debt Collection Practices Act case, ruling that the plaintiff’s claim of having suffered emotional distress and wasting time were sufficient for the plaintiff to have standing to sue, and have remanded the case back to the District Court … The post Appeals Court Rules Emotional Distress, Wasting Time Enough for Plaintiff to Have Standing in FDCPA Suit appeared first on AccountsRecov
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
SEPTEMBER 12, 2022
A District Court judge in California has denied a defendant’s motion to dismiss, ruling that a plaintiff’s third amended complaint which accused the defendant of failing to notify the credit reporting agencies that he was no longer disputing his debt constitutes a communication “in connection with the collection of any debt.” Backstory: The plaintiff sent … The post Judge Denies MTD in FDCPA Case Over Not Removing Dispute Notation appeared first on AccountsRecovery.
Nerd Wallet
SEPTEMBER 12, 2022
Many banks offer enticing small-business credit cards. However, some of the best small-business cards limit lucrative earning rates. If your small business has significant spending, you’ll want to opt for a small-business card with unlimited earning rates. For example, The Blue Business® Plus Credit Card from American Express earns two Membership Rewards points per dollar.
UK debt collections
SEPTEMBER 12, 2022
Southern Water is threatening to use debt collection agencies against customers involved in a payment boycott in protest against continuing raw sewage discharges. The water company, which was given the lowest one star rating for performance by the Environment Agency, has informed boycotters that it will be using bailiffs if they continue to hold back bill payments.
Nerd Wallet
SEPTEMBER 12, 2022
Who wants to hang out in an airport terminal? Whether you fly once a year or every other week, the crowds, overpriced nachos and general hurriedness of the airport are easy to hate. In response, airlines and card issuers have begun to offer airport lounge access, helping ease the path for loyal customers. But not. Carissa Rawson writes for NerdWallet.
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Troutman Sanders
SEPTEMBER 12, 2022
On September 8, Second Circuit ruled that lenders must return $500 million to Citibank, which had mistakenly wired the funds to them. The decision vacates a 2021 Southern District of New York ruling, which held that the lenders were not on constructive notice of the mistake and could rely on the discharge-for-value doctrine to retain the funds. Citibank administered a $1.8 billion loan to Revlon, Inc., funded by a group of lenders.
Nerd Wallet
SEPTEMBER 12, 2022
Leasing a car often means you’ll have lower upfront costs compared to buying a vehicle. However, you’ll need to pay for car insurance whether you lease or buy your next set of wheels. Car leasing insurance requirements When you lease a car, you’ll need to satisfy both your: State’s minimum car insurance requirements. Leasing company’s. Kayda Norman writes for NerdWallet.
Troutman Sanders
SEPTEMBER 12, 2022
On August 30, the California Department of Financial Protection and Innovation (CA DFPI) published a notice of rulemaking action, proposing amendments to the Student Loan Servicing Act. According to the CA DFPI, when the Student Loan Servicing Act first became effective in 2017, student loans contained traditional student loans, defined in the proposed rules as federal student loans, and private student loans offered by traditional lenders, such as banks and credit unions.
Nerd Wallet
SEPTEMBER 12, 2022
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a.
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?
Account Recovery
SEPTEMBER 12, 2022
APPEALS COURT RULES EMOTIONAL DISTRESS, WASTING TIME ENOUGH FOR PLAINTIFF TO HAVE STANDING IN FDCPA SUIT Bucking a recent trend seen in courtrooms across the country, the Eleventh Circuit Court of Appeals has overturned a lower court’s dismissal of an FDCPA suit, ruling the plaintiff did have standing to sue. For the Appeals Court, the … The post Daily Digest – September 12.
Nerd Wallet
SEPTEMBER 12, 2022
Medicare isn’t just for people age 65 and older. According to the Centers for Medicare & Medicaid Services, nearly 8 million people with disabilities also have Medicare benefits as of April 2022 — that’s just shy of 1 in every 8 Medicare beneficiaries. Most people with disabilities need to qualify for Social Security Disability Insurance, Alex Rosenberg writes for NerdWallet.
Dear Debt
SEPTEMBER 12, 2022
Hey debt fighters! It’s September and Suicide Prevention Awareness Month. For OG followers, you might remember that for many years I organized a Suicide Prevention Blog Tour to shed light… Related Posts: Debt, Depression, and Suicide: There's Help Out There. Free Debt Workshop Tomorrow. Blog. Join me for these money events. Resources for Taking Care of Your Mental Health and Wealth.
Nerd Wallet
SEPTEMBER 12, 2022
The Ulta credit card, issued by Comenity, may not be the look for everyone. It suffers from some of the same drawbacks as a lot of other store cards, including a lack of reward flexibility and a high ongoing APR. But if you’re a frequent Ulta shopper — and especially if you use the Ulta. Jaime Hanson writes for NerdWallet. Email: jhanson@nerdwallet.com.
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Collection Industry News
SEPTEMBER 12, 2022
Hudson Cook, LLP, September 8, 2022. The first half of 2022 has seen a flurry of state and federal activity attempting to reign in “convenience fees”—fees charged by a creditor, debt collector, or third party to a consumer for making a payment via some means other than a check or cash, such as over the phone, online, or in some other expedited manner.
Collection Industry News
SEPTEMBER 12, 2022
World Economy News, September 09, 2022. U.S. banks reported $64.4 billion in profits in the second quarter of 2022, as higher net interest income offset growing reserves to guard against loan losses, the Federal Deposit Insurance Corporation said Thursday. However, bank profits were down 8.5% from a year ago, driven primarily by larger banks boosting their provision expenses for potential losses in the face of growing economic uncertainty.
Collection Industry News
SEPTEMBER 12, 2022
University Credit Union, September 08, 2022. LOS ANGELES, Sept. 8, 2022 /PRNewswire/ — University Credit Union (UCU) is excited to announce its newest partnership with UC San Diego. The partnership will seek further success within the California higher education sector by directly supporting students, employees, alumni and retirees of UC San Diego through community-oriented financial services and access to the full-range of benefits provided to all members of UCU.
Collection Industry News
SEPTEMBER 12, 2022
DANIAL CLARK, September 09, 2022. U.S. bank profits climbed 7.8% in the second quarter of 2022 from the previous quarter, according to the Federal Deposit Insurance Corporation (FDIC). The agency said banks reported $64.4 billion in profits as higher net interest income offset growing reserves to guard against loan losses. Profits were down $6.0 billion or 8.5% from a year ago.
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.
Collection Industry News
SEPTEMBER 12, 2022
ATTOM Data Solutions, September 08, 2022. Illinois, Delaware and South Carolina had the Highest Foreclosure Rates; Completed Foreclosures Increase 28 Percent from Last Month. IRVINE, Calif., Sept. 8, 2022 /PRNewswire/ — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its August 2022 U.S. Foreclosure Market Report, which shows there were a total of 34,501 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repos
Collection Industry News
SEPTEMBER 12, 2022
Mallory Cheng, September 9, 2022. The Biden Administration recently announced a plan to forgive student loan debt for millions of borrowers. Student debt in Wisconsin totals $24 billion, according to a 2017 report from the Consumer Financial Protection Bureau. This announcement is a big deal for many Wisconsinites, but others are looking for more relief.
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