Account Recovery

JANUARY 29, 2021

CFPB ACTING DIRECTOR PLEDGES ‘AGGRESSIVE ACTION’ TO ENSURE COMPANIES ‘MEET THEIR OBLIGATIONS’ DURING PANDEMIC In his first public remarks, Dave Uejio, the acting director of the Consumer Financial Protection Bureau yesterday shared a statement he had sent to all the agency’s employees, pledging to take “aggressive action” to ensure companies regulated by the CFPB “follow … The post Daily Digest – January 29.

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Enterprise Recovery

JANUARY 29, 2021

Chasing down an unpaid invoice can take away time and resources that could be better served elsewhere in your business. It's important to understand when and how to follow-up on invoices. Obviously you don't want to appear too needy but you don't want your clients getting away with paying late or not at all, either. And when should you get help from a professional collections service?

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Account Recovery

JANUARY 29, 2021

Just two weeks after it announced it, the Office of the Comptroller of the Currency yesterday said it was hitting the pause button on a rule intended to ensure that banks to provide fair access to services and capital — a response to Operation Choke Point — so that whomever is confirmed to be the … The post OCC Hits Pause Button on New Fair Access Rule appeared first on AccountsRecovery.net.

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Banks 246

Nerd Wallet

JANUARY 29, 2021

This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Amid all the freneticism of the Reddit-hedge fund battle, a simple fact seems to have gone unnoticed: It means very little to the majority. Chris Davis writes for NerdWallet.

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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

JANUARY 29, 2021

The accounts receivable management industry was valued at $13.4 billion at the end of 2020, and grew at a rate five times faster in 2020 than it had in the preceding five years, according to a report issued by Corporate Advisory Solutions. This year could be just as big for the industry, according to the … The post Report Spotlights ‘Robust’ M&A Activity in ARM Industry appeared first on AccountsRecovery.net.

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Accounts Receivables Management 241

Account Recovery

JANUARY 29, 2021

A District Court judge in New Jersey has partially granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class-action case, while allowing claims that a collection letter violated the statute to continue because the letter was addressed to the estate of a deceased individual instead of to the executor of the estate … The post N.J.

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Fair Debt Collection Collections 173

Fico Collections

JANUARY 29, 2021

Today it gives me great pleasure to announce the winners of the 2021 FICO® Decisions Awards. . This year we received a bumper crop of entries from more than 30 different companies across the globe from banking and finance, retail, telecommunications, automotive, FMCG and healthcare. It was clear from the submissions that digital transformation was the name of the game, with more than a few companies declaring they had accelerated their plans due to the global pandemic.

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Account Recovery

JANUARY 29, 2021

In his first public remarks, Dave Uejio, the acting director of the Consumer Financial Protection Bureau yesterday shared a statement he had sent to all the agency’s employees, pledging to take “aggressive action” to ensure companies regulated by the CFPB “follow the law and meet their obligations” to assist consumers during the COVID-19 pandemic.

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Nerd Wallet

JANUARY 29, 2021

You already know about hotel loyalty programs that let you earn points redeemable for stays. But did you know there’s a loyalty program that lets you earn things like a trip to the beach in Portugal, a Mayan cooking lesson in Mexico or the chance to drive a Lamborghini in Hungary? This loyalty program —. Ramsey Qubein writes for NerdWallet. Email: travel@nerdwallet.com.

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Collections

Arbeit Software

JANUARY 29, 2021

People and Profits - what is it and how did it come to be? Alex Villafranca, CEO & Co-Founder of Arbeit shares all the details on our new strategic vision along with steps you can take to transform your own company's culture.

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Nerd Wallet

JANUARY 29, 2021

The World of Hyatt Credit Card is upping the ante for existing cardholders and new applicants with a limited-time promotion and an increased sign-up bonus. The promotion rewards you more generously the more often you use your card on eligible purchases. The tiered sign-up bonus offers rewards in two parts, and the total amount you. Sara Rathner writes for NerdWallet.

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Hudson Weir

JANUARY 29, 2021

Pre pack administration is a formal procedure that enables an insolvent company to sell its assets to the existing directors, a trade buyer or another third party. The transaction is performed by the administrator almost immediately following their appointment. What is a pre pack administration? The key factor that differentiates a pre pack administration from a regular company administration is that in a pre pack, a buyer is chosen and the sale negotiated before the administrator is appointed.

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Nerd Wallet

JANUARY 29, 2021

Three of the four Hilton-branded credit cards are increasing their offers for newcomers. New cardholders will get 20,000 more points for the same amount of spending. For example, with the Hilton Honors American Express Card, instead of getting 80,000 bonus points for spending $1,000 in the first three months, newcomers will now get 100,000 points. New.

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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

Troutman Sanders

JANUARY 29, 2021

In Smith v. GC Servs. Ltd. P’ship, No. 19-3494 (7th Cir. Jan. 21, 2021), the Seventh Circuit affirmed a decision by the Southern District of Indiana finding that the plaintiff had not suffered any concrete injury and therefore, lacked standing to assert a claim under the Fair Debt Collections Practices Act. The plaintiff, Franny Smith, received a debt collection letter that included the following statement: If you dispute this balance or the validity of this debt, please let us know in wri

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Nerd Wallet

JANUARY 29, 2021

The no-annual-fee Capital One VentureOne Rewards Credit Card is a terrific option for thrifty travelers who shy away from annual-fee credit cards. The card offers a hearty welcome bonus and a simple rewards structure for ongoing spending, plus the miles you earn are easy to redeem. This means you don’t have to invest time learning. Keith M. Rosso writes for NerdWallet.

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Price Meese

JANUARY 29, 2021

On January 22, 2021, Rick Steinberg moderated a panel at the Transportation Lawyers Association virtual Chicago Regional Seminar entitled “An Update on Creditors’ Rights in Bankruptcy.” Rick is the Chairman of the Bankruptcy and Creditors’ Rights Committee of the Transportation Lawyers Association, an international organization of attorneys practicing in the fields of surface, air and ocean transportation.

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Troutman Sanders

JANUARY 29, 2021

Last week, Judge Sue Myerscough declined to certify a class of employees whose personal information was disclosed when Driveline Retail Merchandising fell prey to a phishing scam. While nearly 16,000 employees were allegedly affected, “issues of causation and injury” were insufficiently common to satisfy the requirements for class certification. The factual background will resonate with anyone who has ever participated in information security training.

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Collections

Burr Forman

JANUARY 29, 2021

WHAT MATTERS. The industry practice is to set the Payment Rating to a code of 0 if the account was current on the closing date or to a code of 1-6 reflecting that the account was past due when it was paid off. This forms the basis of recent claims under FCRA brought by plaintiffs who claim that this standard method of reporting is inaccurate. Metro 2 is the standard system used by furnishers of credit information for reporting consumers’ account information to credit reporting agencies.

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Troutman Sanders

JANUARY 29, 2021

The Federal Trade Commission (FTC) issued a press release announcing it is holding an Identity Theft Awareness Week between February 1-5, 2021. The week will be comprised of a series of events providing consumers with helpful information to reduce their risk of identity theft and discussing concrete steps consumers can take to recover if identity theft occurs.

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Trade 52

Better Credit Blog

JANUARY 29, 2021

Is a Microbilt credit inquiry lowering your credit score? If you’ve come across a new entry on your credit report from Microbilt, it’s probably the result of a recent application for a loan or credit card. Credit applications result in hard inquiries, which allow lenders to access your credit reports. While a hard inquiry shouldn’t hurt your credit too much, it’s important to get fraudulent entries removed from your report.

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Nerd Wallet

JANUARY 29, 2021

A top perk of many premium credit cards is complimentary Priority Pass Select Membership, which grants fee-free access to over 1,300 airport lounges worldwide. But if you’re traveling through sub-Saharan Africa, don’t rejoice just yet. The Priority Pass lounge network doesn’t have a huge presence in the region — a mere 70-odd lounges across the. Paul Rubio writes for NerdWallet.

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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.

Better Credit Blog

JANUARY 29, 2021

If you have a new entry from NTB/CBNA on your credit report, it’s important to understand how it got there. Representing National Tire & Battery and Citibank, the entry is probably a hard inquiry. An inquiry from NTB/CBNA is typically the result of a credit card application. In the article below, we’ll break down the details of the NTB/CBNA credit card, how a hard inquiry works, and what you can do to get an inaccurate inquiry off your report.

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Collection Industry News

JANUARY 29, 2021

The CFPB recently issued a final rule amending Regulation F, to provide additional requirements regarding: (i) the validation notice and disclosures provided at the outset of debt collection, (ii) identifying actions to be taken before a debt collector may report information to a consumer reporting agency (CRA), and (iii) prohibiting time-barred debt collection.

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Better Credit Blog

JANUARY 29, 2021

Did you apply for a Macy’s credit card in the last two years? If so, you shouldn’t be alarmed when you see a Macys DSNB entry on your credit report. Applying for new credit results in a hard inquiry, and it may have a small effect on your credit score. If you didn’t apply for a retail card from Macy’s, the inquiry could be a mistake, or it may be the work of an identity thief.

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Collection Industry News

JANUARY 29, 2021

The U.S. Court of Appeals for the Seventh Circuit recently vacated judgment in favor of a debt collector against putative class action claims raised by a consumer that its collection letter violated the federal Fair Debt Collection Practices Act (FDCPA) by threatening action that could not legally be taken and amounting to a false representation. In so ruling, the Seventh Circuit concluded that dismissal for lack of subject matter jurisdiction was appropriate because the collection letter did no

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