Credit Management Company
OCTOBER 27, 2022
In November 2021, the new Consumer Finance Protection Bureau (CFPB) Debt Collection Rule went into effect. This rule limits how often a collector can contact a debtor while also establishing rules around social media and what information must be included in a voicemail. The act protects patients and makes it illegal for debt collectors to threaten consumers when trying to collect on medical accounts.
Nerd Wallet
OCTOBER 24, 2022
Welcome to NerdWallet’s Smart Money podcast. This week’s episode starts with a discussion about why Black Friday is dead. Then we host a roundtable discussion with Travel Nerds about how you can find the best holiday travel deals this year. Check out this episode on any of these platforms: Apple Podcasts Spotify Our take on. Anna Helhoski writes for NerdWallet.
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Account Recovery
OCTOBER 27, 2022
The ruling from the Fifth Circuit Court of Appeals doesn’t “make sense” and is “without support in law,” the Consumer Financial Protection Bureau argues in a response to a motion for supplemental authority that was filed by TransUnion as it seeks to use the ruling to get a lawsuit filed by the CFPB against the … The post CFPB Responds to TransUnion Motion by Blasting Fifth Circuit Ruling appeared first on AccountsRecovery.net.
Enterprise Recovery
OCTOBER 25, 2022
In a recent Forbes article, the contributor suggests that older entrepreneurs outperform younger startup founders and lists numerous examples. GoDaddy was founded by Bob Parsons at age 47. E-Trade started with Bill Porter at age 54. Leo Goodwin, the founder of Geico, was 50. The article goes on to state that as individuals age, they're more likely to build a successful company.
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.
Sawin & Shea
OCTOBER 26, 2022
When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. A variety of factors determine whether or not you’ll be able to discharge all of certain personal loans, including whether the loan is secured or unsecured and whether you file via Chapter 7 or Chapter 13 bankruptcy.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
OCTOBER 26, 2022
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.
Fico Collections
OCTOBER 24, 2022
Home. Blog. FICO. Fannie Mae and Freddie Mac Will Require the Use of FICO Score 10 T. FICO?Score 10 T gives mortgage lenders the flexibility and predictive power to make more precise lending decisions. FICO Admin. Tue, 11/12/2019 - 19:52. by James Wehmann. expand_less Back To Top. Mon, 10/24/2022 - 21:05. The Federal Housing Finance Agency (FHFA) has announced that FICO® Score 10 T has been validated and approved for use by Fannie Mae and Freddie Mac (the Enterprises).
Fraser
OCTOBER 27, 2022
The US Department of Labor recently issued a Notice of Proposed Rulemaking that, if adopted, would change the standard for analyzing a worker’s classification as either an employee or independent contractor. The new rules are a reversion to prior tests, which consider certain “economic reality factors;” factors that were originally set out in a pair of cases before the Supreme Court of the United States in 1947 (See United States v.
Nerd Wallet
OCTOBER 26, 2022
In this digital age, identity theft is a growing problem. In 2021, the Federal Trade Commission received almost 400,000 reports for credit card fraud, a type of identity theft that is divided into two distinct categories: new accounts and existing accounts. The first type, also known as application fraud, is when someone steals your credentials. Jae Bratton writes for NerdWallet.
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Account Recovery
OCTOBER 27, 2022
In a joint appearance yesterday, President Joe Biden and Rohit Chopra, the Director of the Consumer Financial Protection Bureau announced new guidance that deems a pair of fees charged by financial institutions to “likely” be unfair and unlawful under existing law. The announcement is part of a crackdown on what the federal government is labeling … The post Biden, CFPB Take Next Step in Junk Fee Crackdown appeared first on AccountsRecovery.net.
Consumer Finance
OCTOBER 25, 2022
Agency highlights surprise overdraft and surprise depositor fees.
PBWT
OCTOBER 24, 2022
A U.S. bankruptcy court recently denied chapter 15 recognition to a case in the Isle of Man (IOM). The court ruled that the foreign case was neither a foreign main proceeding nor a foreign non-main proceeding. Although the court found that the IOM proceeding was a “foreign proceeding,” it also held that the debtor’s center of main interests wasn’t in the IOM and the debtor didn't have an establishment there.
Nerd Wallet
OCTOBER 26, 2022
When holiday sales start in October, who cares about actual Black Friday? Lots of people do, according to Brian Field, global leader of retail consulting and analytics for Sensormatic Solutions. The retail insights company predicts Black Friday (Nov. 25 this year) will be the busiest shopping day of the year for in-store traffic. Tradition keeps. Tommy Tindall writes for NerdWallet.
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Account Recovery
OCTOBER 27, 2022
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. … The post Getting to Know Mark Nielsen of
UK debt collections
OCTOBER 27, 2022
A rogue construction firm has been shut down due to an elaborate and deliberate business credit scam. Nobleread Ltd was wound up by the High Court and the Official Receiver has been appointed Liquidator of the company. The company operated two businesses, NB Construction and NB Wholesale. Between February and April 2021, it ordered various construction goods on business credit under each name following approaches to suppliers.
Prosperity Now
OCTOBER 23, 2022
As election day approaches, and as an Asian American woman and Latina, we remember that our communities weren’t always included
Nerd Wallet
OCTOBER 26, 2022
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. If you thought stocks and bonds usually move independently, you’re not wrong. It’s one of the reasons they complement.
Speaker: Lynnette Khalfani-Cox, The Money Coach®
Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?
Account Recovery
OCTOBER 25, 2022
A District Court judge in California has denied a plaintiff’s request to remand a Fair Debt Collection Practices Act case to state court, ruling the plaintiffs have standing to sue because an FDCPA cause of action was “undeniably” alleged in the complaint. A copy of the ruling in the case of Ramirez et al. v. … The post Judge Denies Motion to Remand FDCPA Case Back to State Court appeared first on AccountsRecovery.net.
UK debt collections
OCTOBER 27, 2022
The boss of Santander UK says the bank is putting aside more money for potential unpaid mortgage debt defaults linked to the cost of living crisis. This follows a sharp rise in customers falling behind on mortgage and loan payments. Mike Regnier told the Guardian that he was keeping a close eye on the “strain and pressure” facing customers as a result of the cost of living crisis, which has made it harder for some households to keep up with rising food and energy bills and financial commitments
Fraser
OCTOBER 28, 2022
Governor Whitmer Signs Bipartisan Election Bills. Governor Whitmer recently signed a package of election law bills which impact how clerks process ballots, including those coming from members of the military overseas. Michigan Public Act 195 permits clerks to pre-process absentee ballots two days prior to Election Day, changes requirements for ballot drop boxes to increase security, and requires clerks to more frequently review and update qualified voter files to remove dead voters.
Nerd Wallet
OCTOBER 25, 2022
The financial services company Figure is no longer offering new personal loans. Instead, the company is focusing on home lending options like home loans and refinancing and home equity lines of credit. Figure used to offer online personal loans to good-credit borrowers, with loan sizes from $5,000 to $50,000. While the loans came with origination. Ronita Choudhuri-Wade writes for NerdWallet.
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?
Account Recovery
OCTOBER 26, 2022
In his first public comments following last week’s ruling from the Fifth Circuit Court of Appeals, Rohit Chopra, the director of the Consumer Financial Protection Bureau, not only chose not to mention the ruling in any way, shape, or form, but announced that the Bureau is planning to move forward this week with a rule … The post Chopra Sidesteps Appeals Court Ruling in Speech, Announces Plan for Open Banking Rule appeared first on AccountsRecovery.net.
UK debt collections
OCTOBER 26, 2022
The majority of UK firms have experienced suppliers refusing to do business with them because of late payments, according to a survey. The survey by Ivalua found six in 10 (59%) UK businesses said suppliers had terminated their relationships with them due to repeated late payments , and 62% said paying suppliers late had significantly damaged relationships.
Troutman Sanders
OCTOBER 28, 2022
Pursuant to its authority under Section 1022(b)(1) of the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to consumer reporting agencies (CRAs), highlighting their obligation to screen for and eliminate obviously false data from consumers’ credit reports. Specifically, CRAs were instructed to implement policies, procedures, and systems to screen for and remove “logically inconsistent” information.
Nerd Wallet
OCTOBER 26, 2022
San Diego-based mom of two Audrey Patterson frequently vacations in an RV with her family. But she’s actually only driven an RV once — a brief stretch near Burbank, California — en route to Yosemite National Park for their 2021 summer vacation. The area northwest of downtown Los Angeles is a tangled web of freeways, Sally French writes for NerdWallet.
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