Tue.May 21, 2024

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Daily Digest – May 21. Collector Accused of Mistaking Plaintiff’s Sister for His Wife; Judge Grants MTD in FCRA, FDCPA Case Over Post-Divorce Liability

Account Recovery

Collector Accused of Mistaking Plaintiff’s Sister for His Wife Judge Grants MTD in FCRA, FDCPA Case Over Post-Divorce Liability Student Loan Debt Relief Company to Close, Pay $400k in CFPB Enforcement Action Illinois Legislature Passes Medical Debt Credit Reporting Bill WORTH NOTING: As summer approaches, here is a list of the best coolers to keep […]

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CFPB Takes Action to Ensure Consumers Can Dispute Charges and Obtain Refunds on Buy Now, Pay Later Loans

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.

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Student Loan Debt Relief Company to Close, Pay $400k in CFPB Enforcement Action

Account Recovery

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Western Benefits Group, a nonbank telemarketer based in Pleasanton, Calif., for charging illegal advance fees for student loan debt relief services and misrepresenting their affiliations and services.

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Why could out-of-network medical bills lead to bankruptcy?

Roths Child Law

Bankruptcy and medical debt go hand-in-hand. One of the top reasons that people file for bankruptcy is because their medical bills have become overwhelming. They’re unable to pay what they owe, so they’re looking for a fresh start. One reason why this happens is because people will get out-of-network services. They may not know that this is what they’re doing at the time, but a later analysis of the medical services rendered will show that they were out of the network approved by the health insu

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How Collection Agencies Minimize Effort and Maximize Results with the Right Software

Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.

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Collector Accused of Mistaking Plaintiff’s Sister for His Wife

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?

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Judge Grants MTD in FCRA, FDCPA Case Over Post-Divorce Liability

Account Recovery

A District Court judge in Florida has granted a motion to dismiss filed by defendants in a Fair Credit Reporting Act and Fair Debt Collection Practices Act case, ruling that the plaintiff is liable for her debts even though her divorce decree states that her now ex-husband would be responsible for them.

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Prepared Remarks of CFPB Director Rohit Chopra on the Buy Now, Pay Later Press Call

Consumer Finance

CFPB Director Rohit Chopra delivered prepared remarks on an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers.

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The United States Supreme Court Rejects Challenge to the Consumer Financial Protection Bureau’s Funding Mechanism

Burr Forman

Last Thursday, the Supreme Court upheld the Congressional funding mechanism used to fund the Consumer Financial Protection Bureau (CFPB), overruling a Fifth Circuit decision that found the funding mechanism violated the Constitution’s Appropriations Clause. Cons. Fin. Prot. Bureau et al. v. Cmty. Fin. Servs. Ass. of Am., Ltd., 601 U. S. _ (2024).

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La CFPB Actúa para Asegurarse de que los Consumidores Puedan Disputar Cargos y Recibir Reembolsos en Préstamos Compre Ahora y Pague Luego

Consumer Finance

La CFPB emitió una interpretación de normativa que confirma que los prestamistas Compre Hoy y Pague Luego son emisores de tarjetas de crédito.

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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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Member Spotlight: Learning Never Stops

NACM

NACM's Professional Certification Program provides all credit professionals—whether early staged or seasoned ones, education to explore the role of credit even deeper. As a credit professional who has been in the industry for eight years, Asia Rashid, CICP, supervisor at Al Ghandi Auto (Dubai, United Arab Emirates), said she was looking t.

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Illinois Legislature Passes Medical Debt Credit Reporting Bill

Account Recovery

The Illinois legislature is sending a bill to the desk of Gov. JB Pritzker that would make the state the latest to ban medical debt from appearing on consumers’ credit reports. The Details: SB2933 was introduced in late January by state Sen. Steve Stadelman, a Democrat who has been in the state legislature since 2012.

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