Fri.Mar 31, 2023

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Is a Four-Day Workweek Right for Your Business?

Enterprise Recovery

The results are in. After a 6-month trial of over 60 companies in the United Kingdom, nearly every company in the pilot study has chosen to continue a four-day workweek. Company revenue stayed roughly the same during the trial but showed a 35% increase compared to similar periods in previous years. Most importantly, employee turnover was reduced by 57% with reports of improved well-being, better work-life balance, and reduced stress.

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Judge Grants MSJ for Defense in FDCPA Case Over Validation Requests

Account Recovery

A District Court judge in Illinois has granted a defendant’s motion for summary judgment, ruling that the verification information it sent to the plaintiff was sufficient to validate and debt and that it was not a false or misleading act to place the account with another agency while it was being disputed with the original … The post Judge Grants MSJ for Defense in FDCPA Case Over Validation Requests first appeared on AccountsRecovery.net.

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Amendments to Banking Statutes Sent to Connecticut Senate

Troutman Sanders

On March 23, SB 1033 , An Act Concerning Various Revisions to the Banking Statutes, was given a favorable report by the Legislative Commissioners’ Office and sent to the Connecticut Senate. With this bill, Connecticut hopes to join several other states that have set strict rate caps on consumer loans, including Illinois, New Mexico, Colorado and California, and those that expressly provide for a predominant economic interest test for true lender purposes.

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Daily Digest – March 31. Complaint Accuses Collector of Calling at Inconvenient Time; Pa. Appeals Court Affirms Ruling that SOL Disclosure Not Required in Late Letters

Account Recovery

COMPLAINT ACCUSES COLLECTOR OF CALLING AT INCONVENIENT TIME The Fair Debt Collection Practices Act prohibits collectors from communicating with consumers at times and places known by the collector to be inconvenient to the consumer. But what the FDCPA doesn’t necessarily do is draw the line that defines when a collector has been told that he … The post Daily Digest – March 31.

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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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Undisputed Facts in Your Debt Collection Case? Think Summary Judgment.

FFGN COLLECT NY

Whether the defenses raised by the debtor are valid or not, a debtor defending a debt collection case can delay collection. A debtor can buy themselves time just by filing an answer to the summons and complaint. The amount of time afforded depends on the court’s caseload and the timeframe to hear the case at trial. That is unless your case includes undisputed facts.

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Credit Card Debt Is at Record High as Fed Raises Rates Again

Collection Industry News

NEW YORK (AP) — As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month. The Fed’s interest rate increases are meant to fight inflation, but they’ve also led to higher annual percentage rates (APRs) for people with credit card debt, which means they pay more in interest.

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Pa. Appeals Court Affirms Ruling That SOL Disclosure Not Required in Late Letters

Account Recovery

A collector is not obligated to include a notification that the statute of limitations on a debt has expired as long as it does not initiate or threaten legal action on the debt, the Pennsylvania Superior Court ruled yesterday in affirming a lower court’s decision. A copy of the ruling in the case of Matteo … The post Pa. Appeals Court Affirms Ruling That SOL Disclosure Not Required in Late Letters first appeared on AccountsRecovery.net.

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Best of Extra Credit: Special One-Year Episode

NACM

? HAPPY BIRTHDAY EXTRA CREDIT! ?? One year ago today, NACM published its very first episode of the Extra Credit podcast! To celebrate this special occasion, we are bringing you a roundup of the most popular podcast episodes from the last year.? Hear from Shane Inglesby, CCE; Chris Myers; Gweneth Weeks; Natalie Pearson, Susan Rausch, CCE; and A.

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Republicans Invoke CRA to Overturn Student Loan Debt Cancellation Program

Account Recovery

Not content with hoping that the Supreme Court will strike down a program started by the federal government to wipe out as much as $20,000 in student loan debt for individuals, a number of Republicans have started the process of using the Congressional Review Act to keep the program from ever being implemented. Republicans in … The post Republicans Invoke CRA to Overturn Student Loan Debt Cancellation Program first appeared on AccountsRecovery.net.

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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.