Account Recovery
DECEMBER 23, 2020
The Consumer Financial Protection Bureau yesterday announced it had issued a consent order against Santander Consumer USA, accusing it of violating the Fair Credit Reporting Act by furnishing accurate information to credit reporting agencies and fining the nonprime auto lender $4.75 million. A copy of the consent order is available by clicking here.
Nerd Wallet
DECEMBER 23, 2020
If you fly Spirit Airlines frequently — which you might do if you enjoy the no-frills, low-cost carrier and live near one of the cities it services — then consider the Spirit Airlines World Mastercard® credit card. While the value of miles is relatively low compared to other airline cards, it does come with some additional flexibility. Kimberly Palmer writes for NerdWallet.
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Account Recovery
DECEMBER 23, 2020
A class-action lawsuit has been filed against a debt collector, accusing it of making it look like the collector purchased debts from a healthcare provider when it had not done so and for violating a state collection law in Colorado. A copy of the complaint in the case of Zachary Waite and Cathy Wood-Sullivan v. … The post Class-Action Suit Filed Against Collection Agency appeared first on AccountsRecovery.net.
Nerd Wallet
DECEMBER 23, 2020
Marriott Bonvoy has nearly 30 hotel brands, each serving a different type of traveler. Guests looking to earn or redeem Bonvoy points for the ultimate in luxury and service choose Ritz-Carlton or St. Regis. Travelers on longer stays choose Residence Inn by Marriott or TownePlace Suites by Marriott. And now, the guests Marriott calls “fun. Ramsey Qubein writes for NerdWallet.
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
DECEMBER 23, 2020
The Consumer Financial Protection Bureau yesterday issued a consent order against a student loan servicing company for violating a prior consent order in which it was accused of mis-stating minimum amounts due on billing statements and engaging in illegal debt collection practices. In this newest consent order, Discover Bank, the Student Loan Corp., and Discover … The post Student Loan Servicer to Pay $35M in Fines and Redress for Violating Consent Order appeared first on AccountsRecovery.
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Account Recovery
DECEMBER 23, 2020
A class-action lawsuit has been filed against a debt collector in Florida alleging it violated the Telephone Consumer Protection Act and the Fair Debt Collection Practices Act by calling the plaintiff more than 40 times after he allegedly revoked consent to be contacted and for mis-stating the amount that was owed during calls before consent … The post TCPA Class Action Filed Against Collector in Florida appeared first on AccountsRecovery.net.
Nerd Wallet
DECEMBER 23, 2020
Safety-wise, there’s a lot riding on your tires. But many car owners don’t routinely inspect the rubber they are riding on or know what to look for. “Tires are what connects us to the road, and if they are worn, that will reduce your car’s stability and traction,” says David Bennett, AAA’s manager of repair. Philip Reed writes for NerdWallet. Email: articles@nerdwallet.com.
Account Recovery
DECEMBER 23, 2020
CFPB FINES SANTANDER $4.75M FOR FCRA VIOLATIONS The Consumer Financial Protection Bureau yesterday announced it had issued a consent order against Santander Consumer USA, accusing it of violating the Fair Credit Reporting Act by furnishing accurate information to credit reporting agencies and fining the nonprime auto lender $4.75 million. TCPA CLASS ACTION FILED AGAINST COLLECTOR … The post Daily Digest – December 23.
Troutman Sanders
DECEMBER 23, 2020
The Eighth Circuit Court of Appeals held that the actions of a debt collector are not necessarily imputed to a debt buyer. This holding reversed the Western District of Arkansas District Court, which held that the actions of the debt collector are necessarily imputed to the debt buyer. The full opinion of Reygadas v. DNF Associates, LLC can be found by clicking here.
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Burr Forman
DECEMBER 23, 2020
Congress passed the Consolidated Appropriations Act, 2021 (the Act) on December 21, 2020. The Act, which is 5,593 pages, contains a number of stimulus measures designed to address the economic impact of the coronavirus crisis. While the bill has not become law as of the date of this blog, it is expected to be signed by the President quickly and then become law.
TCPA
DECEMBER 23, 2020
On the same day last week, two different judges in the Middle District of Florida issued divergent decisions regarding the effect of the Supreme Court’s holding in Barr v. AAPC, 140 S. Ct. 2335, 2347 (2020).
Troutman Sanders
DECEMBER 23, 2020
In Ramsey v. Receivables Performance Mgmt., LLC , Judge McFarland, of the United States District Court for the Southern District of Ohio, granted partial summary judgment for Phillip Ramsey, Plaintiff – holding that Receivables Performance Management, LLC and Howard George (Chief Executive Officer, RPM), Defendants, violated the Telephone Consumer Protection Act by calling Plaintiff two hundred and forty-five times with an automatic telephone dialing system after Plaintiff revoked consent.
Better Credit Blog
DECEMBER 23, 2020
Have you recently discovered an entry from CitiCards CBNA on your credit report? If so, it’s likely the result of an application for one of Citibank’s credit cards. Applying for loans or credit cards can lead to a hard inquiry on your credit report. While that’s nothing to worry about in most cases, if you don’t recall applying for a card, you could be the target of an identity thief or a reporting error.
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?
Troutman Sanders
DECEMBER 23, 2020
The Federal Trade Commission (FTC) on December 9, 2020, settled with Complete Merchant Solutions, LLC (CMS) and its former CEO, Jack Wilson, requiring them to pay $1.5 million, refrain from processing payments for certain merchants and enact enhanced client screening protocols. The FTC alleged that CMS and Wilson facilitated fraud by processing consumer credit card payments from organizations that they knew or should have known were schemes designed to defraud customers.
Payment Savvy
DECEMBER 23, 2020
A merchant account is crucial for all types of business. Nowadays, consumers are increasingly making purchases using credit and debit cards. Therefore, it becomes crucial for businesses to provide several payment options for customers to attract new clients and further revenue. Merchant accounts act like intermediaries allowing a business to accept credit and debit cards in-person and remotely.
Better Credit Blog
DECEMBER 23, 2020
Coming across a name you don’t recognize on your credit report can be alarming. That’s the case for many consumers when they find an entry from SYNCB/PPC. However, the acronym is actually short for two popular companies, Synchrony Bank and PayPal Credit, formerly PayPal Bill Me Later. If you’ve ever used PayPal’s credit or applied for an account, it can show up on your credit report.
Fico Collections
DECEMBER 23, 2020
The global pandemic has driven a dramatic change in consumer behavior, not least an exponential rise in the use of digital and mobile channels for banking and financial services, increased competition from fintechs, and the rise of open banking. It has also opened new doors for criminals, who have rushed to exploit the uncertainty in a pandemic world and devised new money laundering and terrorist financing schemes by taking advantage of loopholes in the regulations, new ways of working aided by
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Nerd Wallet
DECEMBER 23, 2020
Dumbo Moving and Storage is a company that specializes in full-service local and long-distance moves. Based in New York City, the company offers flat-rate pricing and requires upfront deposits. It serves all 50 states, and services deliveries to Great Britain, India, Austria, the Balkan Peninsula, Italy, Egypt, Israel and China. Here are five things you.
Troutman Sanders
DECEMBER 23, 2020
In the new COVID-19 aid bill passed by both houses of Congress on Sunday, December 21 – the full text of which can be found here – and awaiting presidential approval, the national moratorium on evictions would be extended through January 31, 2021. Additionally, a fund of $25 billion will be established to assist qualifying renters who are struggling to keep up with their payments.
Debt
DECEMBER 23, 2020
A second stimulus check – the financial gift from the U.S. government to help consumers recover from the economic belt coronavirus gave the American economy – needs only a signature from President Trump to become a welcome part of Christmas. For now, Trump’s response is bah, humbug! The president took a withering look at the… The post When Will a Second Stimulus Check be Delivered?
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