Sat.Oct 15, 2022 - Fri.Oct 21, 2022

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3 Inflation-Savvy Moves to Make Now

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Inflation is proving to be a stubborn, unwanted houseguest. No one particularly likes paying more for food, fuel and.

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Tips for placing accounts in collections during the holidays

American Profit Recovery

As the end of the year approaches, a question that many creditors grapple with is, “ Should I assign slow-pay/delinquent customers to collections around the holidays ?” The answer to that question should be a resounding “ Yes.”. There are many reasons why it benefits a business, as well as its customers, to have past-due accounts placed in collections during the holiday season.

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Is Congress Going to Kill Credit Card Rewards?

Nerd Wallet

Credit card rewards are so common these days — so expected, even — that they can seem untouchable. But that could change. Legislation that’s winding its way through Congress is intended by its sponsors to encourage “competition in electronic credit transactions.” But if lawmakers end up passing the measure, known as the Credit Card Competition. Kenley Young writes for NerdWallet.

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House Subcommittee Chair Accuses CRAs of Failing to Fully Investigate Disputes

Account Recovery

The chair of the House Select Subcommittee on the Coronavirus Crisis has sent a letter to the Consumer Financial Protection Bureau, asking it to investigate the three major credit reporting agencies for possible violations of the Fair Credit Reporting Act, including potentially failing to investigate disputes filed by consumers. The 12-page letter, from Rep.

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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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CFPB Takes Action to Address Junk Data in Credit Reports

Consumer Finance

Effort seeks to address false information on the credit reports of children in foster care and the general public.

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Property Damage Liability: What It Is and How It Works

Nerd Wallet

Property damage liability insurance pays for the damage you cause to someone else’s property in a car accident. The insurance covers damage to other cars, buildings and structures, like fences and telephone poles. It can also cover legal fees if you’re sued for the same types of damage. However, property damage liability won’t cover injuries. Ben Moore writes for NerdWallet.

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Daily Digest – October 20. Getting to Know Kristen Rowles of CBE Companies; Appeals Court Rules CFPB’s Funding Structure Unconstitutional

Account Recovery

GETTING TO KNOW KRISTEN ROWLES OF CBE COMPANIES It’s no wonder that Kristen Rowles, who thrives in chaos and never shies away from difficult conversations, grew to become a leader and someone who helps make everyone around her better. Perhaps even more importantly, she taught her father about the benefits of working in the ARM … The post Daily Digest – October 20.

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CFPB Sues Payment Platform Used by YMCA Camps and Charity Race Organizers for Illegally Cramming Consumers With Junk Membership Fees

Consumer Finance

ACTIVE Network generated more than $300 million in membership fees using digital dark patterns and online trickery.

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Can I Buy a Car After Bankruptcy?

Sawin & Shea

Difficult financial situations are never in our plans, so those who file for bankruptcy are often left with a lot of questions about what they can and can’t do once proceedings are completed. One of the confusing subjects surrounding bankruptcy is car buying. Individuals who file for bankruptcy and initially think they cannot buy a car will be glad to know that it is indeed possible.

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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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4 Ways Investors Can Make the Most of Inflation

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Housing costs are up, groceries are up, and the stock market is down. Inflation has some grim side effects, Elizabeth Ayoola writes for NerdWallet.

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23 Companies Seeking Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant … The post 23 Companies Seeking Collection Talent appeared first on AccountsRecovery.net.

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Final Rule Issued for Corporate Transparency Act: What Businesses Need to Know

Fraser

As we previously addressed in 2021, Congress passed the Corporate Transparency Act (“CTA”), which requires certain business entities to report the “beneficial ownership” of an entity to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCen”). The CTA is intended to deter activity such as money laundering, financing terrorism, and tax fraud, among other things.

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Bailiff attacked with knife whilst trying to collect £10,000 debt

UK debt collections

A bailiff who was trying to collect a £10,000 debt at a Hull restaurant was viciously stabbed with a knife in violent scenes that had chilling echoes of the TV programme Can’t Pay, We’ll Take It Away ! He could easily have suffered very serious life-threatening injuries if one of the knife wounds had been just 2mm to one side, Hull Crown Court heard.

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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.

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How to Change Medicare Plans — and Why You Might Want to

Nerd Wallet

Medicare open enrollment starts today, but 7 in 10 Medicare beneficiaries say they don’t compare Medicare plans during this period, according to a 2021 analysis by KFF, a health policy nonprofit. That’s not great, since Medicare Advantage plans — which operate much like the private insurance you may have had through an employer — change. Kate Ashford, CSA® writes for NerdWallet.

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CFPB Seeks $43M in Fines, Restitution From Debt Relief Co. Owner

Account Recovery

The Consumer Financial Protection Bureau has filed a motion for summary judgment, seeking to recover $43 million in restitution and penalties from the owner of a debt relief firm that was sued back in 2020 for taking money from individuals before achieving any of the results it promised and before it was legally able to … The post CFPB Seeks $43M in Fines, Restitution From Debt Relief Co.

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Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Proposals to Prevent Bailout Risk and Guard Against Increased Concentration in Banking

Consumer Finance

CFPB Director Rohit Chopra’s statement on a notice of proposed rulemaking to reduce bailout risk among a group of systemically important financial institutions and guard against increasing concentration in banking.

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Five Stories that Matter in Michigan This Week – October 21, 2022

Fraser

IRS Establishes New Income Tax Brackets for 2023. The IRS this week announced higher federal income tax brackets and standard deductions for 2023, which will apply to tax year 2023 for returns filed in 2024. The standard deduction for 2023 will rise to $27,700 for married couples filing jointly, up from $25,900 in 2022, and $13,850 for single filers, an increase from $12,950.

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Future-Proof Your Firm: Smarter Tech for Stronger Returns & Simpler Workflows

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

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Southwest Makes Companion Pass Tougher to Earn Among Other Changes

Nerd Wallet

Southwest announced some major changes to its Rapid Rewards loyalty program, most notably making it more difficult to earn a Southwest Companion Pass. Beginning Jan. 1, 2023, you’ll need to earn 135,000 qualifying points in a calendar year in order to get your hands on a Companion Pass. Previously, you would’ve needed 125,000 points to. Sally French writes for NerdWallet.

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MVN Not a Requirement Under Reg F, FDCPA, Judge Rules

Account Recovery

Usually, when I write about cases being remanded back to state court, it’s not necessarily a good thing for the collector. In fact, it’s often the collector that sought to have the case heard in federal court in the first place. But, this time, a District Court judge granting a collector’s motion to remand a … The post MVN Not a Requirement Under Reg F, FDCPA, Judge Rules appeared first on AccountsRecovery.net.

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Statement of CFPB Director Rohit Chopra on Complaint Against ACTIVE Network

Consumer Finance

The CFPB is suing ACTIVE Network, a payments platform used by families across the country to sign up for community activities, including camps and events sponsored by the YMCA, Girl Scouts, and charity race organizers.

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Late payments costing Small Businesses £684m

UK debt collections

New research shows that half of invoices issued by small businesses are paid late. Could stricter penalties and more transparency in regulation and reporting make a difference? Small businesses have long suffered from suppliers paying them late , but mounting economic challenges including rising inflation and the falling value of the pound are only serving to aggravate the problem.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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How High-Priced Homes Changed the Mortgage Game in 2021

Nerd Wallet

The housing market in 2021 was one for the record books. With prices at historic highs and the number of listings in a deep hole, open houses looked like Black Friday sales and many would-be buyers were elbowed out of the melee. In 2021, the share of buyers paying all cash for home purchases trended. Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com.

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Daily Digest – October 17. MVN Not a Requirement, Judge Rules; More Americans Favor Medical Debt Forgiveness Over Wiping Out Student Loans

Account Recovery

MVN NOT A REQUIREMENT UNDER REG F, JUDGE RULES In a case where a collection agency has sued its client for allegedly breaching their contract, a federal judge has granted a motion to remand the case back to state court, ruling the Model Validation Notice is not a requirement to be used under Regulation F. … The post Daily Digest – October 17.

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FTC Seeks Public Comment on So-Called “Junk Fees”

Troutman Sanders

On October 20, the Federal Trade Commission (FTC) issued an Advanced Notice of Proposed Rulemaking, seeking public comment on the harms stemming from what it characterizes as “junk fees,” i.e., fees that are allegedly unnecessary, unavoidable, or unexpected, and that inflate costs while adding little value. The term also encompasses “hidden fees,” which are fees for goods or services that are deceptive or unfair, including because they are only disclosed at the latter stage in the consumer’s pur

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What Goes into a Tax Season Debt Collection Strategy?

Taurus Collect

Tax season is known as winter holidays in collections. It is considered the busiest time of the year to pay off debts. However, it is also a great time to recover debts from overdue accounts. People become more aware of spending their money wisely with increased cash flow due to their tax returns. Customers with past-due accounts use income tax refund amounts to settle late bills, resulting in higher collection rates.

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Operational Strength Starts with People: The New Rules of Finance Leadership

Speaker: Melissa Hurrington

What’s holding finance teams back isn’t just process inefficiency. It’s culture gaps, reactive mindsets, and missed opportunities to lead real change. In an era of disruption, finance leaders can no longer afford to operate on autopilot and the most resilient teams aren’t just efficient—they’re connected, talent driven, and culture-focused. Join Melissa Hurrington for an exploration into how finance leaders can evolve beyond process and numbers to create adaptive, people-powered teams that thriv