Mon.Mar 21, 2022

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Calif. Appeals Court Upholds Subpoena of Debt Collector

Account Recovery

A state Appeals Court in California has upheld a ruling from a lower court compelling a debt collector to comply with a subpoena it received from four District Attorney’s offices in the state investigating the collector’s compliance with the Rosenthal Fair Debt Collection Practices Act and the Telephone Consumer Protection Act. A copy of the … The post Calif.

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Use this Template to Remind Clients to Pay

Enterprise Recovery

Getting frustrated or writing off client invoices isn't going to get them paid. An unresolved problem remains unresolved unless you do something about it. When a client agrees to pay for goods or services that your business is offering, it is well within your rights to request that they pay you. If you're unsure what to say, use this sample template to remind clients to pay your business.

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Speech Analytics and Collector Survey Details How Reg F Has Changed Collections

Account Recovery

LAS VEGAS — Speech analytics and call recordings can offer some tremendous opportunities to analyze communications between consumers and debt collectors, especially at the dawn of a new era in debt collection. Looking at the 100 days before the enactment of Regulation F and the 100 days since the rule went into effect on November … The post Speech Analytics and Collector Survey Details How Reg F Has Changed Collections appeared first on AccountsRecovery.net.

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CFPB Issues Policy on Contractual ‘Gag’ Clauses and Fake Review Fraud

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) issued policy guidance regarding potentially illegal practices related to consumer reviews. The CFPB seeks to ensure that customers can write reviews, particularly ones posted online, about financial products and services that accurately reflect their opinions and experiences.

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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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Compliance Digest – March 21

Account Recovery

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.

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Daily Digest – March 21. Calif. Appeals Court Upholds Subpoena for Collector; How Reg F Has Changed Collections

Account Recovery

CALIF. APPEALS COURT UPHOLDS SUBPOENA OF DEBT COLLECTOR A state Appeals Court in California has upheld a ruling from a lower court compelling a debt collector to comply with a subpoena it received from four District Attorney’s offices in the state investigating the collector’s compliance with the Rosenthal Fair Debt Collection Practices Act and the … The post Daily Digest – March 21.

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Home Remodeling in 2022 Calls for Patience and Flexibility

Nerd Wallet

The pandemic wreaked a specific kind of havoc on home remodeling. Swelling demand for construction projects collided with material and labor shortages, creating a home improvement traffic jam that has lasted into 2022. “The pandemic threw a very large wrench into everything, but in particular housing,” says Abbe Will, associate project director of the Remodeling.

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Why Consumers Abandon Online Payment Submissions

Account Recovery

More than 80% of consumers will abandon buying something online if the payment experience is poor, according to the results of a survey released recently by Plaid, a payments platform company. For companies in the accounts receivable management industry, this should underscore the importance of making it easy for consumers to make payments via a … The post Why Consumers Abandon Online Payment Submissions appeared first on AccountsRecovery.net.

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The NerdWallet Guide to Vrbo

Nerd Wallet

Vrbo is short for Vacation Rentals by Owner, and it’s a website that does exactly what it sounds like. Vrbo is an online vacation rental site where property owners can list their homes for rent, travelers can book them and Vrbo handles the transaction. Vrbo properties range from massive cabins in the mountains ideal for. Sally French writes for NerdWallet.

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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.

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Senate Democrats Introduce Digital Asset Sanctions Compliance Enhancement Act of 2022

Troutman Sanders

On March 17, Senators Elizabeth Warren (D-MA), Jack Reed (D-RI), Mark Warner (D-VA), and Jon Tester (D-MT) introduced the Digital Asset Sanctions Compliance Enhancement Act (Act) in an attempt to ensure blacklisted Russian individuals and businesses do not use cryptocurrency to evade economic sanctions. “In order for the sanctions levied by the United States and our allies to have the maximum impact on Vladimir Putin and his oligarch friends, we must close off avenues they might use to evade tho

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Bonus Tax Rate 2022: How Are Bonuses Taxed and Who Pays?

Nerd Wallet

Earning a bonus can feel like a well-deserved reward. After all, who doesn’t want a pat on the back plus some extra cash to put toward a feel-good purchase? But you might be in for a surprise when your paycheck arrives, and you realize, “Wait a minute — this gets taxed, too?” Bonuses are indeed. Sabrina Parys writes for NerdWallet. Email: sparys@nerdwallet.com.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge.

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A Beginner’s Guide to Hilton Credit Cards

Nerd Wallet

Perhaps you already have a travel credit card or two. Maybe your cards, like the Chase Ultimate Rewards® card, earn flexible point currencies. Or maybe you have a card that earns airline miles. Whatever the case, now you’re considering adding a Hilton credit card to the mix. The only problem? You’re not familiar with Hilton. Carissa Rawson writes for NerdWallet.

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ERM Program Fundamentals for Success in the Banking Industry

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?

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Senate Banking Committee Holds Hearing on Digital Assets and Illicit Finance

Troutman Sanders

On March 17, the Senate Committee on Banking, Housing and Urban Affairs conducted a hearing titled, “Understanding the Role of Digital Assets in Illicit Finance,” which focused extensively on whether and how Russia could use digital assets to avoid sanctions, as well as how Ukraine is using cryptocurrency to support their fight against Russia. In his opening statement, Chairman Sherrod Brown (D-OH) expressed concerns about offshore crypto companies not being subject to the U.S. laws, including t

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How to Rebook and Save When American Airlines Prices Drop

Nerd Wallet

In the not-to-distant past, travelers were practically stuck with a flight once they booked it, as airlines would charge hundreds of dollars to change a flight. Then, the COVID-19 pandemic rocked the airline industry. To get travelers to start booking flights again, many airlines — including American Airlines — did the previously unimaginable: eliminated change.

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UK Cards Trends: Good Performance Despite Rising Living Costs

Fico Collections

How are UK cardholders managing their payments? Our analysis of UK card trends for January 2022 suggests that they're managing card spend relatively well, despite well-documented increases in the cost of living. . The new data for January 2022 illustrates the continued mixed picture of consumer financial management. Having seen the percentage of accounts paying their full balance start to drop in December, it was anticipated this pattern – and other signs of financial stress - would be evident

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Best Medicare Advantage Plans in Montana

Nerd Wallet

More than 240,000 people in Montana are signed up for Medicare. Medicare is the government health care program for people age 65 and older. Medicare Advantage is a bundled alternative to Medicare that offers all the same benefits and usually some extras, such as cost savings on dental and vision coverage. Medicare Advantage plans offer. Kate Ashford writes for NerdWallet.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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Remolina paper on the role of financial regulators in the governance of algorithmic credit scoring

Public Citizen

Nydia Remolina of Singapore Management University - Centre for AI & Data Governance  has written  The Role of Financial Regulators in the Governance of Algorithmic Credit Scoring. Here's the abstract: The use of algorithmic credit scoring presents opportunities and challenges for lenders, regulators, and consumers. This paper provides an analysis of the perils of the use of AI in lending, such as the problem of discrimination in lending markets that use algorithmic credit sco

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What Happens If You Overpay Your Credit Card?

Nerd Wallet

One of the most important credit card habits is paying your balance on time and in full every month. But it’s also possible to overpay your balance, in which case your issuer owes you money. When you overpay a credit card, it means you’ve paid more than the full amount due on your account. For. Funto Omojola writes for NerdWallet. Email: fomojola@nerdwallet.com.

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CFPB Ramps Up Hunt For Unfair Discrimination In Consumer Finance

Collection Industry News

Source: site. Already with a heightened interest in vehicle repossessions , the Consumer Financial Protection Bureau (CFPB) announced changes last week to its supervisory operations involving what it deems to be illegal discrimination, including in situations where fair lending laws may not apply. The bureau explained through a news release that during the course of examining banks’ and other companies’ compliance with consumer protection rules, the CFPB will scrutinize discriminatory conduct t

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What Is a Bad Credit Auto Dealer?

Nerd Wallet

Bad-credit car dealerships sell and finance vehicles for people with low credit scores, no credit, past bankruptcies, car repossessions or other credit issues. Some of these dealerships specialize in working with lenders that are more inclined to approve bad-credit borrowers. Their financing sources are more flexible, but their loans can come with a very high.

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The Power of Storytelling in Risk Management

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.

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How Couples Go Through Bankruptcy

Luftman, Heck & Associates.

Many people view the debts you incur in marriage as joint debt. After all, what’s yours is mine, and what’s mine is yours. While we usually think of marital debt as shared, couples today marry later in life and live together without marrying for longer — waiting nearly five years on average to get married, according to Business Insider. Since couples aren’t sharing finances until later in life, it is Read More.

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Smart Money Podcast: Single-Income Couples, and When to Use Your FSA and HSA

Nerd Wallet

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.

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Material Prices Spike for Nonresidential Construction in Recent Analysis

NACM

Prices for new nonresidential construction rose more than 21% from February 2021 to February 2022, according to an Associated General Contractors of America (AGC) analysis of government data. (The association noted that more recent price announcements made after the February data was collected suggest contractors are experiencing even worse cost pr.