Thu.Dec 15, 2022

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Judge Denies MTD in FDCPA Case Over Attempt to Collect Unrelated Court Costs

Account Recovery

A District Court judge in Alaska — yes, Alaska — has denied a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act because it accidentally included costs in an unrelated case when filing a motion to recover its litigation costs after successfully suing the plaintiff for the unpaid … The post Judge Denies MTD in FDCPA Case Over Attempt to Collect Unrelated Court Costs first appeared on AccountsRecovery.net.

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For Home Buyers, 2022 Was Brutal. Why ’23 Could Be a Bit Better.

Nerd Wallet

Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL. The article For Home Buyers, 2022 Was Brutal. Why ’23 Could Be a Bit Better. originally appeared on NerdWallet.

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Survey Details Medical Debt Issues for Americans

Account Recovery

More than one-third of respondents to a survey conducted by the education arm of a financial institution are carrying medical debt, and 82% of those people are having problems paying it off, according to a report highlighting the survey’s findings. For those who have medical debt, 70% said that the debt is either overdue or … The post Survey Details Medical Debt Issues for Americans first appeared on AccountsRecovery.net.

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Is a Hybrid-Remote Workplace Right for Your Small Business?

Nerd Wallet

Lisa Anthony writes for NerdWallet. Email: lanthony@nerdwallet.com. The article Is a Hybrid-Remote Workplace Right for Your Small Business? originally appeared on NerdWallet.

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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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Getting to Know Nathan Copeland of Dreher Tomkies

Account Recovery

The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. … The post Getting to Know Nathan Copeland

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Daily Digest – December 15. Getting to Know Nathan Copeland of Dreher Tomkies; Judge Denies MTD in FDCPA Case

Account Recovery

GETTING TO KNOW NATHAN COPELAND OF DREHER TOMKIES Heads up, ARM industry — fresh meat is in the building, although he kind of married into the business. Nathan Copeland has only been in the industry for a year, and he chose debt collection and consumer finance because his mother-in-law and father-in-law have been in the … The post Daily Digest – December 15.

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2022: The Year of Stunning Interest Rate Increases

Nerd Wallet

Margarette Burnette writes for NerdWallet. Email: mburnette@nerdwallet.com. Twitter: @Margarette. The article 2022: The Year of Stunning Interest Rate Increases originally appeared on NerdWallet.

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MP made bankrupt due to £1.7m of Personal debt

UK debt collections

Conservative MP Adam Afriyie has been made bankrupt after a judge heard he owed around £1m to HMRC and £700,000 to Barclays bank. A bankruptcy order was made against the MP at a hearing in the Insolvency and Companies Court on Tuesday. The Windsor MP had already announced he would be standing down at the next election, saying with Brexit “concluded” it was the “right time” Responding to the court order, Mr Afriyie said it was “a stressful time” “This has

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Fed Caps 2022 With 7th Rate Hike. What’s Next?

Nerd Wallet

Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article Fed Caps 2022 With 7th Rate Hike. What’s Next? originally appeared on 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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Our Scams Model Just Won an Award for Machine Learning

Fico Collections

Home. Blog. FICO. Our Scams Model Just Won an Award for Machine Learning. Credit & Collections Technology Awards recognize our scams model with the award for Machine Learning - here's why. Saxon Shirley. Wed, 05/25/2022 - 03:43. by Scott Zoldi. Chief Analytics Officer. expand_less Back To Top. Mon, 12/19/2022 - 11:30. As scams grow worldwide – scams grew by 30% in two years in the UK and by 18% from 2020 to 2021 in the US – financial services institutions are looking for new tools to detect and

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Can I Refinance an Auto Loan With Bad Credit?

Nerd Wallet

Shannon Bradley writes for NerdWallet. Email: sbradley@nerdwallet.com. The article Can I Refinance an Auto Loan With Bad Credit? originally appeared on NerdWallet.

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Get That Bag: How to Build a Collection Process for Your Law Firm

NCBA Law Practice Management Blog

Law firm account s receivable can be gnarly, sometimes extending into the six figures. Now, there are a couple of responses to that. The preferred option is to eliminate accounts receivable altogether, which can be done using epayment options, and potentially evergreen retainers combined with stop work order s. Of course, you may not ever get to 100% collection rates – that’s a tall order – and, you may have some accounts receivable to deal with already.

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How Life Changes With Student Debt Finish Line in Sight

Nerd Wallet

Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article How Life Changes With Student Debt Finish Line in Sight originally appeared on 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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What Financial Institutions Should Know about a Tax Levy on a Customers Bank Account

Jimerson Firm

By Austin Calhoun, Esq. and Joseph Luna, Esq. Financial institutions are often required to make tough decisions when they receive the daunting Form 668–A, “Notice of Levy” from the IRS concerning a delinquent taxpayer’s bank account. If the IRS levies a bank account, financial institutions are required to immediately freeze all funds in the account upon receiving the Notice of Levy and must remit the balance to the IRS after 21 days (up to the amount of the unpaid tax liability).

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How to Financially Coexist With Boomerang Kids

Nerd Wallet

AP. Kimberly Palmer writes for NerdWallet. Email: kpalmer@nerdwallet.com. Twitter: @kimberlypalmer. The article How to Financially Coexist With Boomerang Kids originally appeared on NerdWallet.

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Planning for the Inevitable: the Basic Estate Planning Documents That Everyone Needs

Jimerson Firm

Far too many of us fail to take the time and effort to set up a basic estate plan in the event of an untimely passing. It’s easy to understand why. No one wants to think about how their estate is handed down after they pass away. In spite of that, taking the initial steps of having a few basic estate planning documents prepared will go along way in assisting your heirs with the devising of your assets.

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Best Capsule Hotels Around the World

Nerd Wallet

Capsule hotels have long been popular in Japan, providing a cheap and convenient place to rest for both travelers and local businessmen. However, in recent years, newer concepts have popped up, giving travelers unique ways to try out the Japanese-inspired lodging experience. Here’s an overview of what you can expect from a capsule hotel plus. JT Genter 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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Dual Representation in Derivative Litigation: Who Can Represent the Company?

Jimerson Firm

Derivative litigation occurs when a shareholder sues another shareholder, officer, or director of the company for misconduct that harms the company. In many derivative lawsuits, the facts are similar: the majority in control of the company commits some wrongdoing (i.e. stealing corporate funds or misdirecting corporate opportunities), and the minority shareholders, with little power to stop it, must act on behalf of the company to sue the wrongdoers and protect the company from harm.

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Chase’s 5% Bonus Categories for Q1 2023: Target, Grocery Stores, Fitness Club/Gym Memberships

Nerd Wallet

Jaime Hanson writes for NerdWallet. Email: jhanson@nerdwallet.com. The article Chase’s 5% Bonus Categories for Q1 2023: Target, Grocery Stores, Fitness Club/Gym Memberships originally appeared on NerdWallet.

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What to Do When a Phishing Attack Happens to You

Troutman Sanders

Please join Consumer Financial Services Partner Chris Willis and his colleagues Privacy + Cyber Associate Sadia Mirza and Privacy + Cyber Partner Kamran Salour as they discuss phishing. Kamran and Sadia break down what phishing is, the major security risk it poses for companies, and how to handle a phishing attack. Sadia Mirza has extensive experience in data security and privacy matters.

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Best Credit Cards for Wellness

Nerd Wallet

Paul Soucy writes for NerdWallet. Email: paul@nerdwallet.com. Twitter: @paulsoucy. The article Best Credit Cards for Wellness originally appeared on NerdWallet.

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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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Fed raises interest rates half a point to highest level in 15 years

Collection Industry News

The Federal Reserve on Wednesday raised its benchmark interest rate to the highest level in 15 years, indicating the fight against inflation is not over despite some promising signs lately. Keeping with expectations, the rate-setting Federal Open Market Committee voted to boost the overnight borrowing rate half a percentage point, taking it to a targeted range between 4.25% and 4.5%.

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Is It Time to Refinance to a Variable-Rate Student Loan?

Nerd Wallet

Trea Branch writes for NerdWallet. Email: tbranch@nerdwallet.com. The article Is It Time to Refinance to a Variable-Rate Student Loan? originally appeared on NerdWallet.

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Statement of CFPB Director Rohit Chopra on the 2022 Annual Report of the Financial Stability Oversight Council

Consumer Finance

CFPB Director Chopra’s statement on FSOC’s 2022 Annual Report.

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Republicans Warn Chopra that More Oversight of CFPB is on the Horizon

Account Recovery

Rohit Chopra, the Director of the Consumer Financial Protection Bureau, got a taste yesterday of what it’s going to be like for at least the next two years every time he heads up to Capitol Hill to visit the House Financial Services Committee, with Republicans calling on the CFPB to rescind a number of actions … The post Republicans Warn Chopra that More Oversight of CFPB is on the Horizon first appeared on AccountsRecovery.net.

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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.