Account Recovery

APRIL 6, 2023

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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Troutman Sanders

APRIL 6, 2023

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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Trade 98

Account Recovery

APRIL 6, 2023

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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Jimerson Firm

APRIL 6, 2023

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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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

APRIL 6, 2023

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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Account Recovery

APRIL 6, 2023

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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Fair Debt Collection Collections 130

Troutman Sanders

APRIL 6, 2023

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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Account Recovery

APRIL 6, 2023

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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Troutman Sanders

APRIL 6, 2023

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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Collections

Roths Child Law

APRIL 6, 2023

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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Troutman Sanders

APRIL 6, 2023

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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Judgment 52

Fico Collections

APRIL 6, 2023

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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Collection Industry News

APRIL 6, 2023

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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Student loans Student Loans Loans Education 40

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