Account Recovery

AUGUST 23, 2022

Perhaps not surprising to anyone, the older that people get, the more medical debt they tend to incur, according to a published report. Individuals who are 75 years old and older have, on average, $17,510 or medical debt, nearly double the amount that people who are under the age of 35 are carrying, according to … The post Report Breaks Down Medical Debt Burden by Demographics, Geography appeared first on AccountsRecovery.net.

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Healthcare 246

Nerd Wallet

AUGUST 23, 2022

Personal finance often puts a strain on mental health. Debt, bills, job security and similar matters are major sources of stress and anxiety for many people. Problems can flow in the opposite direction, too: Mental health struggles can make it harder to manage personal finances. Credit cards present a unique challenge. They offer convenience, rewards, Jae Bratton writes for NerdWallet.

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Account Recovery

AUGUST 23, 2022

The Colorado Attorney General’s Consumer Credit Unit last week published new guidance related to the enactment of a law governing remote work for licensed lenders while also noting that the guidance originally enacted at the start of the pandemic in 2020 remains in effect for entities not covered by the new law, including collection agencies, … The post Colorado AG Issues Guidance Related to Collection Agencies Working Remotely appeared first on AccountsRecovery.net.

Collection Agencies 246

Collection Agencies Collections Agency Collections Consumer Credit 246

Nerd Wallet

AUGUST 23, 2022

Are you tired of waiting in lines at the airport? Whether it’s the line for security or the lengthy queue for immigration, no one likes to waste their time standing around. One way travelers can help remedy this problem is with Global Entry. This program provides an expedited immigration process when returning to the U.S. Carissa Rawson 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

AUGUST 23, 2022

A District Court judge has granted a plaintiff’s request to remand a Fair Debt Collection Practices Act case back to the state court in which it was originally filed, but declined to award attorneys’ fees, ruling that “jurisprudence in this District and the Second Circuit” on the topic of standing “is still evolving.” A copy … The post Judge Remands FDCPA Case Over Duplicate Notices, Hunstein Claims Back to State Court appeared first on AccountsRecovery.

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Fair Debt Collection Collections 245

Account Recovery

AUGUST 23, 2022

AGENCY SUED FOR FAILING TO PROVIDE OPT-OUT NOTICE IN TEXTS A collection agency is facing a lawsuit in Georgia for allegedly not including an opt-out disclosure in texts it sent to an individual. While we have seen this claim related to emails, this might be one of the first such cases involving text messages. JUDGE … The post Daily Digest – August 23.

Collection Agencies 245

Collection Agencies Collections Agency Collections 245

Nerd Wallet

AUGUST 23, 2022

Good money doesn’t always come easy, but there are legitimate ways to find fast cash. Want the money right away? Chances are you’ll need to part with something nice or provide a service. Other methods may take a little longer. Bottom line: Don’t quit your day job, but do try these realistic ideas to make. Tommy Tindall writes for NerdWallet. Email: ttindall@nerdwallet.com.

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Account Recovery

AUGUST 23, 2022

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 Agency Sued for Failing to Provide Opt-Out Notice in Texts appeared first on AccountsRecovery.net.

Collections 245

Collections 245

Nerd Wallet

AUGUST 23, 2022

State Farm is probably best known for auto insurance, but the company also offers medical insurance products including Medicare Supplement Insurance, or Medigap. State Farm sells Medigap policies in most states and members have few complaints about them. However, the prices could be lower, and competitors offer more opportunities for discounts or added perks with.

Auto Insurance 73

Auto Insurance 73

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Collections

Troutman Sanders

AUGUST 23, 2022

As we previously posted on June 23, the Federal Trade Commission (FTC or Commission) released a proposed Motor Vehicle Dealers Trade Regulation Rule. This new rule could allow the FTC to regulate dealers exempt from the Consumer Financial Protection Bureau’s (CFPB) jurisdiction under Section 1029(a) of the Dodd-Frank Act and would impose significant limits on how dealers advertise, impose up-front price disclosure requirements, require new paperwork for any optional “add-on” products, and prohib

Trade 52

Trade 52

Nerd Wallet

AUGUST 23, 2022

If you’re looking to achieve elite status on your favorite airline this year, it’s important to know that all status structures are not created equal. It can take a lot of miles (and dollars) to reach elite status, so you should find out if you’re getting your money’s worth before getting started. If you frequently. Alisha McDarris writes for NerdWallet.

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FFGN COLLECT NY

AUGUST 23, 2022

Are you a subcontractor or vendor with an invoice that is more than 30 days past due? Perhaps you have reason to believe that the general contractor was paid for the services or goods you provided, but has not paid you. New York lien law offers a number of options to subcontractors and vendors including the option to lien real property. And you do not need to file a mechanics lien to avail yourself of some of the options afforded by Article 3 of the New York lien law.

Banks 52

Banks Creditors Collections 52

Nerd Wallet

AUGUST 23, 2022

While every traveler hopes for the best when going on a trip, it’s possible for unexpected outcomes to ruin some or all of your vacation. Travel insurance helps in those unfortunate situations by covering the necessary expenses to get you back on the right track. But how does travel insurance work, how do you buy. Lee Huffman writes for NerdWallet. Email: travel@nerdwallet.com.

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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

AGA

AUGUST 23, 2022

Don’t Overlook the Strategic Opportunity Provided by Outsourcing Collections. Small businesses have to deal with many of the same challenges as larger ones. A key difference (besides volume of transactions) is the lack of labor specialization. The employees of small companies tend to handle multiple responsibilities – the time devoted to each task can vary greatly as does the proficiency of the person handling those tasks.

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Credit Management Collections 40

Collection Industry News

AUGUST 23, 2022

Erik Sherman, August 22, 2022. According to Trepp, CMBS delinquencies, which had been on a decline until a June uptick, are back on their way down again. “After a rare uptick in June 2022, the Trepp CMBS Delinquency Rate resumed its two-year-long decline in July 2022,” the firm writes. “The Trepp CMBS Delinquency Rate in July was 3.06%, a decrease of 14 basis points from June.

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Collections Bankruptcy 40

Collect More

AUGUST 23, 2022

First up today we have our gold medal winner, undefeated and the best by far- ladies and gentleman give it up for: The Telephone! The phone is your best friend folks. The single best way to get paid is by picking it up, calling your customer and asking for your money. Seems so simple I know but you would be shocked at how many people are scared of the phone.

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Collection Industry News

AUGUST 23, 2022

James E. Dionne , 22 August 2022. On August 11, 2022, the Consumer Financial Protection Bureau published a Consumer Financial Protection Circular taking the position that providing “[i]nadequate security for the sensitive consumer information collected, processed, maintained, or stored by … [a] company can constitute an unfair practice” under the Consumer Financial Protection Act (CFPA). 1 Because insufficient data security is likely to cause substantial injury to consumers th

Financial Institution 40

Financial Institution Trade Collections Financial services 40

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Collections

Troutman Sanders

AUGUST 23, 2022

In this episode of The Crypto Exchange , Troutman Pepper Consumer Financial Services Partner Kalama Lui-Kwan welcomes back Keith Barnett and Carlin McCrory to discuss consumer protection under Regulation E and a recent letter from democratic senators, urging the CFPB to hold banks liable for consumer losses when the consumers provide alleged fraudsters with access to their own accounts through payment apps.

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Financial Institution Financial services Banks 52

Collection Industry News

AUGUST 23, 2022

Matt Egan, August 22, 2022. The Federal Reserve is unlikely to tame inflation without pushing the American economy into a recession, according to a survey of economists released Monday. Seventy-two percent of economists polled by the National Association of Business Economics expect the next US recession will begin by the middle of next year – if it hasn’t already started.

Healthcare 40

Healthcare Collections 40

Collection Industry News

AUGUST 23, 2022

Brad Dress, August 21, 2022. Education Secretary Miguel Cardona on Sunday said the Biden administration is due to announce a decision on whether to extend a pause on federal student loan debt in the next week, butting up to an Aug. 31 deadline when the current moratorium on loan payments expires. Cardona told NBC’s “Meet the Press” moderator Chuck Todd the announcement was forthcoming but declined to share any other details.

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Student loans Student Loans Loans Education 40

Collection Industry News

AUGUST 23, 2022

Annie Nova, August 19 2022. The U.S. Department of Education is giving federal student loan borrowers who’ve fallen behind on their debt a chance to get into current standing. As part of its “Fresh Start” initiative, the 7.5 million student loan borrowers who are in default will be able to return to repayment without a past-due balance. The agency announced the program in April, and on Wednesday released more information on how borrowers may benefit.

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Student loans Student Loans Education Loans 40

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.

Collection Industry News

AUGUST 23, 2022

Zack Friedman, Aug 22, 2022. Here’s what to expect with the student loan payment pause. Here’s what you need to know — and what it means for your student loans. Student Loans. This week could be the most significant period in student loan history. President Joe Biden is considering two major proposals that could impact more than 40 million student loan borrowers.

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Student loans Student Loans Loans Education 40