Fri.Feb 24, 2023

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Advice for Busy Business Owners

Enterprise Recovery

When you own your own business, something always demands your attention. Whether it's troubleshooting office issues like internet outages, customer service challenges, or trying to get paid, entrepreneurship is a busy vocation. To grow your business, you may need to adjust your focus from putting out fires to looking at your business differently. Adjust your perspective with this helpful advice for busy business owners.

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FCC Issues Proposed Rule to Block Illegal Text Messages

Account Recovery

The chair of the Federal Communications Commission yesterday proposed a rule that would require mobile service providers to automatically block text messages that are “highly likely” of being illegal. Along with extending Do-Not-Call registry protections to text messages, the proposed rule require providers to block texts from upstream providers that are known to be transmitting … The post FCC Issues Proposed Rule to Block Illegal Text Messages first appeared on AccountsRecover

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The Most Common Car Repairs You Have to Make

Credit Corp

Owning a car comes with costs that go beyond getting an auto loan or needing to insure your vehicle. Maintenance and repair costs can add up, and it’s essential to be prepared for those financially. In 2021, for example, individuals in the United States spent more than $194 billion on vehicle maintenance and repair. Find out about some of the most common car repairs below, including what they cost. 10 Common Car Repairs and What They Cost This list of car repairs isn’t comprehensive

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Judge Recommends Dismissing FCRA, FDCPA Claims Against Creditors

Account Recovery

A Magistrate judge in Texas has recommended granting motions to dismiss filed by two creditors who were sued, along with a pair of collection agencies, for violations of the Fair Debt Collection Practices Act and the Fair Credit Reporting Act, among other claims, by an attorney who blamed the losses of separate lawsuits on poor … The post Judge Recommends Dismissing FCRA, FDCPA Claims Against Creditors first appeared on AccountsRecovery.net.

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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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What Are Real-Time Payments? Everything You Need to Know

Payment Savvy

Real-time payments have revolutionized how we make financial transactions, providing unparalleled speed, convenience, and security. With real-time payments, money can be transferred almost instantly from one person to another, anywhere in the world. This makes it possible for people and businesses to send and receive money at a moment’s notice, without having to wait for traditional payment methods such as bank transfers or cheques to clear.

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Guide to Phone Service for Low-Income Households

Nerd Wallet

Lauren Schwahn writes for NerdWallet. Email: lschwahn@nerdwallet.com. Twitter: @lauren_schwahn. The article Guide to Phone Service for Low-Income Households originally appeared on NerdWallet.

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Complaint Accuses Firm of Pursuing Collection Suit After Claim of ID Theft

Account Recovery

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call … The post Complaint Accuses Firm of Pursuing Collection Suit After Claim of ID Theft first appeared on AccountsRecovery.net.

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Are You a Points and Miles Hoarder? Here’s How to Get Over It

Nerd Wallet

Sam Kemmis writes for NerdWallet. Email: skemmis@nerdwallet.com. Twitter: @samsambutdif. The article Are You a Points and Miles Hoarder? Here’s How to Get Over It originally appeared on NerdWallet.

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Title Lender to Pay $15M in Penalties for Overcharging Military Families

Account Recovery

An auto finance company will pay $15 million in fines and redress to consumers as a result of an enforcement action with the Consumer Financial Protection Bureau, the regulator announced yesterday. The lender was accused of making illegal loans to military families, altering documents so that the borrowers would not be identified as servicemembers, and … The post Title Lender to Pay $15M in Penalties for Overcharging Military Families 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.

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Best CRM Software for Small Businesses

Nerd Wallet

Lisa Anthony writes for NerdWallet. Email: lanthony@nerdwallet.com. The article Best CRM Software for Small Businesses originally appeared on NerdWallet.

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How to Find a Debt Collection Lawyer

FFGN COLLECT NY

Looking for a debt collection attorney but not sure where to begin? There are a lot of debt collection law firms and debt collection agencies available to choose from. What’s best for your individual case, however, isn’t always easily ascertainable from a simple online search. When it comes to search results, first doesn’t always mean best.

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What to Know About the CFPB’s Plan to Slash Credit Card Late Fees

Nerd Wallet

Sara Rathner writes for NerdWallet. Email: srathner@nerdwallet.com. Twitter: @sarakrathner. The article What to Know About the CFPB’s Plan to Slash Credit Card Late Fees originally appeared on NerdWallet.

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CFPB Issues Data Requests to Major Auto Lenders

Troutman Sanders

On February 23, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it has issued orders to nine of the largest auto lenders requesting information about their auto lending portfolios. According to the CFPB, the nine targeted lenders represent a cross-section of the auto finance market and the data collected in response to these orders will help the CFPB build a data set that provides them with insight into lending channels and loan performance.

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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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What Is Homeowners Insurance?

Nerd Wallet

Sarah Schlichter writes for NerdWallet. Email: sschlichter@nerdwallet.com. The article What Is Homeowners Insurance? originally appeared on NerdWallet.

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Tenth Circuit Holds Arbitration Provision in ERISA Plan Document Unenforceable

Troutman Sanders

Recently, the Tenth Circuit Court of Appeals held an arbitration provision impermissibly blocked rights afforded to a retirement plan participant under the Employee Retirement Income Security Act (ERISA) and was therefore unenforceable. As background, in Harrison v. Envision Management Holding, Inc. (Envision), the plaintiff, a former employee of Envision and participant in Envision’s defined contribution retirement plan, filed suit under various provisions of ERISA against the fiduciaries of th

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What Should I Do With My Savings if There’s a Recession?

Nerd Wallet

Chanelle Bessette writes for NerdWallet. Email: cbessette@nerdwallet.com. The article What Should I Do With My Savings if There’s a Recession? originally appeared on NerdWallet.

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Fourth Circuit Finds No Article III Standing in Privacy Case

Troutman Sanders

A new Fourth Circuit decision has thrown out of federal court a state-law privacy claim where the plaintiff alleged only a bare statutory violation without alleging “a nonspeculative, increased risk of identity theft,” holding that the plaintiff alleged no Article III injury. As background to the February 21, 2023 decision in O’Leary v. TrustedID, Inc. , the plaintiff alleged that when a consumer reporting agency was subject to a data breach it engaged TrustedID to inform consumers whether they

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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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Dollar Store Demand + the Wild Card that Could Sink Wealth

Nerd Wallet

Hal M. Bundrick, CFP® writes for NerdWallet. Email: hal@nerdwallet.com. Twitter: @halmbundrick. The article Dollar Store Demand + the Wild Card that Could Sink Wealth originally appeared on NerdWallet.

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Federal Regulators Issue Statement Highlighting Liquidity Risks of Crypto-Asset Related Entities

Troutman Sanders

On February 23, The Board of Governors of the Federal Reserve System (the Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the Agencies) issued a statement on the liquidity risks presented by funding provided to banks related to certain crypto activities and offering some effective practices to manage such risks when engaging with deposits associated with crypto entities.

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Is Now the Right Time to Invest in Travel Stocks?

Nerd Wallet

Steven Porrello writes for NerdWallet. Email: wpguestuser+sporrello@nerdwallet.com. The article Is Now the Right Time to Invest in Travel Stocks? originally appeared on NerdWallet.

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Hunstein Dismissed

Troutman Sanders

As discussed here , on September 8, 2022, an en banc panel of the Eleventh Circuit Court of Appeals reversed the district court’s decision that a debt collector’s outsourcing of its letter process to a third-party mail vendor violated the Fair Debt Collection Practices Act’s prohibition on third-party disclosure. The Eleventh Circuit remanded the case to the district court with instructions to dismiss for lack of standing.

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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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Do You Need a Passport for a Bahamas Cruise?

Nerd Wallet

Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com. The article Do You Need a Passport for a Bahamas Cruise? originally appeared on NerdWallet.

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Court Rejects Debt Collector’s Statutory Interpretation of FDCPA Debt Validation Provision

Troutman Sanders

According to the district court for the District of Massachusetts, debt collectors may be found in violation of § 1692g(a)(3) of the Fair Debt Collection Practices Act (FDCPA) when sending debt collection letters requiring the consumer to dispute the debt in writing. As background, in Sherwyn Rocke v. Monarch Recovery Management, Inc. (Monarch), the plaintiff alleged that Monarch violated the FDCPA in its initial collection letter because it required the plaintiff to notify them in writing if he

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Collecting Business Debt: Six Best Practices When Working With A Collections Agency

Taurus Collect

If your business is struggling to collect payment on outstanding debt, you may be considering working with a collections agency. Before taking this step, it’s important to understand the best practices for working with a collections agency , in order to ensure that you protect your business interests and get the best results. Here are six tips to follow when working with a collections agency: Do Your Research When searching for a debt collection agency in Liverpool, it’s essential to

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Chapter 11 Bankruptcies Are Up 70% Annually

NACM

? Chapter 11 bankruptcy filings increased 70% year-over-year and Subchapter V filings are up 49%. With post-pandemic era financial aid no longer available, its time to leverage every possible risk mitigation tool both before and after a bankruptcy filing.?We've brought in some of the best experts for this week's episode of NACM's #ExtraCredit podca.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.