Thu.Apr 06, 2023

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Daily Digest – April 6. Getting to Know Brian McLellan of Credit Solutions; Judge Denies Defendant’s Motion for Sanctions in FDCPA Case

Account Recovery

GETTING TO KNOW BRIAN MCLELLAN OF CREDIT SOLUTIONS Brian McLellan hits the nail on the head when he calls where he works the “smallest multi-billion dollar industry in America.” But that statement is true only because people like him are so willing to come together, share ideas, and help each other out. Read on to … The post Daily Digest – April 6.

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DOJ Seizes Over $112 Million in Funds Linked to Cryptocurrency Investment Schemes

Troutman Sanders

On April 3, the U.S. Department of Justice (DOJ) announced that it has seized virtual currency worth an estimated $112 million linked to cryptocurrency investment scams. Seizure warrants for six virtual currency accounts were authorized by judges in the District of Arizona, the Central District of California, and the District of Idaho. The virtual currency seized is expected to be returned to the victims.

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Getting to Know Brian McLellan of Credit Solutions

Account Recovery

Brian McLellan hits the nail on the head when he calls where he works the “smallest multi-billion dollar industry in America.” But that statement is true only because people like him are so willing to come together, share ideas, and help each other out. Read on to learn more about Brian, why he is embracing … The post Getting to Know Brian McLellan of Credit Solutions first appeared on AccountsRecovery.net.

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Recent Florida Case Makes Clear That Settlement Agreements Reached in Connection with Mediation Must be Signed by All Parties to be Enforceable

Jimerson Firm

Many disputes that result in litigation are resolved through the mediation process prior to trial. In fact, Florida’s Homeowners’ Association Act, Chapter 720, Florida Statutes, requires mandatory mediation for certain types of disputes between homeowners and the association before any lawsuit can be filed. See Fla. Stat. § 720.311(2). Florida circuit courts also typically require that the litigants attempt to mediate their civil dispute prior to the trial occurring.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Judge Denies Defendant’s Motion for Sanctions in FDCPA Case

Account Recovery

A Magistrate judge in New York has denied a defendant’s motion for sanctions in a Fair Debt Collection Practices Act case after the plaintiff and her attorneys — from Credit Repair Lawyers of America — were accused of engaging in a frivolous action after filing a lawsuit alleging the defendant failed to remove a dispute … The post Judge Denies Defendant’s Motion for Sanctions in FDCPA Case first appeared on AccountsRecovery.net.

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CFPB Sues Owners of Payday Lending Company For Hiding Millions to Avoid Paying Fines

Account Recovery

Having made this mistake once before, did you know that there are two FDCPAs? Everyone reading this should be familiar with the Fair Debt Collection Practices Act. But there is another law, called the Federal Debt Collection Procedures Act, and the two statutes are markedly different? It is the second FDCPA that the Consumer Financial … The post CFPB Sues Owners of Payday Lending Company For Hiding Millions to Avoid Paying Fines first appeared on AccountsRecovery.net.

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Lots of Developments in Small Business Finance

Troutman Sanders

Please join Troutman Pepper Partner Chris Willis and his colleagues Caleb Rosenberg and Josh McBeain as they discuss a string of recent developments in small business financing at both the state and federal level, including the CFPB’s small business data collection rule and the regulations under state disclosure laws. Caleb Rosenberg focuses his practice on helping small business finance companies, banks, fintech companies, and licensed lenders navigate regulatory risks posed by state and federa

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Agency to Pay $10k Fine for Operating in CT Without License

Account Recovery

The Connecticut Department of Banking has assessed of fine of $10,000 to a collection operation for collecting from consumers in the state without first obtaining the proper license to do so. The company has also agreed to pay $800 in back licensing fees. A copy of the order, entered against Main Line Recovery Solutions, which … The post Agency to Pay $10k Fine for Operating in CT Without License first appeared on AccountsRecovery.net.

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Utah’s H.B. 20 Signed into Law, Reducing Red Tape for Debt Collection Agencies

Troutman Sanders

In a significant boost to the financial services industry, Utah has taken major steps to streamline its debt collection bureaucracy — including the removal of criminal penalties for failure to comply with technical requirements. Utah House Bill 20 , titled “Collection Agency Amendments,” was signed into law last month and goes into effect May 3, 2023.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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When is filing for Chapter 13 bankruptcy a good idea?

Roths Child Law

If you earn a decent, steady paycheck but you’re still struggling to pay your debts on time, it may be worth considering filing for bankruptcy. While your income level may render you ineligible to apply for Chapter 7 bankruptcy relief, it is likely that as a steady wage earner, you can have a debt reorganization plan approved under Chapter 13 of the U.S.

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Treble Trouble in Paradise: Court Refuses to Treble Jury’s $8,500 TCPA Award to Plaintiff

Troutman Sanders

On April 4, the U.S. District Court for the Northern District of Texas declined to increase or treble the plaintiff’s $8,500 jury trial damages awarded under the Telephone Consumer Protection Act (TCPA) after failing to find that the defendant acted willfully or knowingly under TCPA § 227(c)(5)(B). Indeed, the judge cut the award to $6,500. Since the TCPA does not have a fee-shifting remedy, that $6,500 win for the plaintiff is the total outcome of this federal court jury trial.

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Artelys Uses FICO Optimization To Manage European Power Grid

Fico Collections

Home Blog FICO Artelys Uses FICO Optimization To Manage European Power Grid Ground-breaking TERRE market platform for energy exchange wins ESG Champion in FICO ® Decisions Awards Saxon Shirley Wed, 03/15/2023 - 05:44 by Nikhil Behl Chief Marketing Officer expand_less Back To Top Thu, 04/06/2023 - 08:15 Managing the World’s Largest Synchronous Electrical Grid Artelys , an independent company specializing in optimization, modeling and decision-support based in France, has created the TERRE market

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Supreme Court Won’t Block Student Loan Class-Action Settlement

Collection Industry News

Three schools challenged the settlement, which would forgive $6 billion, saying the Biden administration had colluded with plaintiffs and exceeded its authority. WASHINGTON — The Supreme Court on Thursday refused to block a class-action settlement that forgave $6 billion in federal loans for students at for-profit schools or vocational programs. The court’s brief order gave no reasons, which is typical when the justices act on emergency applications.

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Agent Tooling: Connecting AI to Your Tools, Systems & Data

Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage

There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.