Mon.Jan 15, 2024

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Daily Digest – January 15. Judge Signs Off on Settlement, $11M in Attorney’s Fees in Student Loan Collection Case; More Consumers Falling Behind on Loan Payments

Account Recovery

Judge Signs Off on Settlement, $11M in Attorney’s Fees in Student Loan Collection Case More Consumers Falling Behind on Loan Payments Consumers Getting Comfortable with Filing Disputes, Chargeback Requests: Report Compliance Digest – January 15 WORTH NOTING: How to wake up early, even if you’re not a morning person … Just how much you need […]

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New Law Protects Consumers Who Use Subscription Auto-Renewals

FFGN COLLECT NY

As millions of people stayed home during the pandemic, they turned to digital entertainment services, meal delivery services, clothing subscriptions, and online diet and exercise programs. This gave businesses the incentive to shift to a digital subscription model. At the same time, many businesses adopted deceptive subscription marketing policies that make services easy to sign up for but difficult to cancel.

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More Consumers Falling Behind on Loan Payments

Account Recovery

Nearly 30% of consumers living in the 100 largest metropolitan areas of the United States were behind on at least one debt payment between July and September of last year, according to data released last week by LendingTree. Those debts include credit cards, auto loans, personal loans, mortgages, and student loans.

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Bogus Debt Collectors sentenced after £410k Debt Collection scam

UK debt collections

A bogus debt collection scam gang have been brought to justice after defrauding a pensioner businessman out of around £410,000. The group, that fraudulently ripped the business owner, from Northallerton North Yorkshire, off over three years have now faced sentences in court. Wayne Mark McCreery, 50, of St Andrews Road, Stretford, Trafford, Manchester, targeted the victim, who is aged in his 70s, between 2015 and 2018.

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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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Judge Signs Off on Settlement, $11M in Attorney’s Fees in Student Loan Collection Case

Account Recovery

A District Court judge in Nebraska has given final approval to a class-action settlement against a student loan servicer and awarded more than $11 million in attorney’s fees.

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Consumers Getting Comfortable with Filing Disputes, Chargeback Requests: Report

Account Recovery

Consumers across the United States disputed $83 billion of credit card charges in 2023, with each cardholder averaging nearly six chargebacks, each of them valued at $76, according to a report issued last week by Chargebacks911.

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Onguard announces changes to Management Team

On Guard

New structure underlines a customer-centric approach for 2024 Credit management software specialist Onguard announces changes to its Management Team from 1 January 2024. As such, Onguard is adding a Finance Director and a People & Culture Director, and a redistribution of portfolios is taking place to become even more of a customer-centric organisation.

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Compliance Digest – January 15

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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Prepared Remarks of CFPB Director Rohit Chopra on Overdraft Lending Press Call

Consumer Finance

Director Chopra delivered remarks on the CFPB’s proposed overdraft lending rule.

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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.