FFGN COLLECT NY
JUNE 4, 2023
Are you using artificial intelligence to support your debt collection efforts? If not, you may want to employ the powers of AI to assist and boost your recovery rates on accounts receivable. Despite fears that AI will replace all human functions, AI won’t replace your collections department. However, your collections department can work together with AI to achieve improved results.
CICM
JUNE 6, 2023
With all the advantages modern collections technologies bring, it might be easy to assume we can sit back and watch the cash roll in because all routine tasks have been automated. But could we overlook something by taking the human touch out of the process? In this blog, we’ll explain why retaining empathy and a human touch in our collections process is essential.
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Nexa Collect
JUNE 3, 2023
Whether or not to implement late fees in your business depends on various factors, including the nature of your business, your target audience, industry standards, and your overall business goals. Here are some points to consider when making this decision: Cash flow management: Late fees can act as an incentive for customers to make timely payments, improving your cash flow.
Account Recovery
JUNE 7, 2023
The Consumer Financial Protection Bureau yesterday painted a target on artificial intelligence, issuing an advisory about banks and companies in the financial services industry using the technology in chatbots, saying it can lead to violations of consumer finance laws and harm consumers by providing inaccurate information and diminished customer service.
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.
CICM
JUNE 7, 2023
Ensuring your invoices are paid promptly and within terms is an essential item on the ‘to-do’ list for any business that wants to maintain a healthy cash flow position. However, managing Accounts Receivable can be time-consuming, complicated and yield uncertain results, particularly for smaller and mid-size organisations. In this blog, you will find tips that help ease the process, secure some ‘wins’ and streamline your business operations.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
JUNE 5, 2023
The Consumer Financial Protection Bureau (CFPB) today released a new issue spotlight on the expansive adoption and use of chatbots by financial institutions.
Account Recovery
JUNE 7, 2023
The parent company of Lexington Law, which filed for bankruptcy protection earlier this week, is planning to auction off its assets and has laid off more than 75% of its employees, according to published reports.
Credit Corp
JUNE 8, 2023
In July 2016, the Consumer Federation of America (CFA) and VantageScore Solutions reported that most consumers—more than 80%—knew basic facts about their credit scores, including that credit scores are used by lenders to approve or deny mortgages and by credit card issuers to approve or deny credit cards. While it’s good that most people know the importance of credit scores, the same survey found that many consumers don’t understand credit score details.
Payment Savvy
JUNE 7, 2023
When looking for a new payment method for business, Venmo may not be the first option to spring to mind. After all, what does a peer-to-peer payment app have to do with business-related payments? As it turns out, everything. Although its primary customer base is teens and millennials sending each other money, splitting bills, etc., Venmo can also be used by companies to provide their customers with yet another convenient payment option.
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.
Consumer Finance
JUNE 7, 2023
The Consumer Financial Protection Bureau (CFPB) took action against medical debt collector Phoenix Financial Services (Phoenix) for numerous debt collection and credit reporting violations.
Account Recovery
JUNE 6, 2023
The California Department of Financial Protection and Innovation yesterday announced three enforcement actions against different debt collection operations, for attempting to collect in the state without having or applying for a license and also making false or misleading representations when attempting to collect on a debt i n violation of the Fair Debt Collection Practices …
True Accord
JUNE 6, 2023
Protecting personal and financial information is critical in today’s digital age. Where data has its own intrinsic value and where data breaches and cyberattacks are a risk for every business, the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA) provides financial institutions, including those in the accounts receivable management industry, with guidance on how to safeguard customer information.
Payment Savvy
JUNE 9, 2023
Starting an online business can be done in one of two ways. Either you can use a third-party platform to host and manage the store for you, or you can own a self-hosted platform over which you have complete control. Of course, using a third-party platform is simpler. The setup and maintenance of the store are taken care of for you. Additionally, there is no need for you to go through the trouble of learning how to create an e-commerce website from scratch.
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.
Consumer Finance
JUNE 7, 2023
Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.
Account Recovery
JUNE 5, 2023
Facing the possibility of a $3 billion claim from the Consumer Financial Protection Bureau, the parent company of Lexington Law and CreditRepair.com filed for Chapter 11 bankruptcy protection yesterday. A copy of the filing, filed in the Bankruptcy Court for the District of Delaware, can be accessed by clicking here.
Roths Child Law
JUNE 9, 2023
Being prepared for the unexpected is crucial, and most people do this. However, it's rare for someone to plan for bankruptcy, as it's associated with negative aspects, and some people believe they can't experience it - they save and make the right financial moves. As a result, they may not take time to learn about bankruptcy. So, who needs to be informed about bankruptcy?
CICM
JUNE 9, 2023
What is a Credit Policy? A credit policy is a set of rules that businesses and organisations use to manage the extension of credit to customers and clients. A credit policy is put in place to minimise financial risks and ensure a healthy and stable cash flow for your business or organisation. They are an essential piece of documentation to help you with the effectiveness of your Credit Management.
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!
Troutman Sanders
JUNE 8, 2023
As discussed here , in April 2023, Colorado introduced HB 1229 that proposed to limit certain charges on consumer loans and simultaneously opt Colorado out of sections 521-523 of the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). Sections 521-523 of DIDMCA empower state banks, insured state and federal savings associations and state credit unions to charge the interest allowed by the state where they are located, regardless of where the borrower is located and regardless
Account Recovery
JUNE 9, 2023
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?
Optio Solutions
JUNE 8, 2023
Unlike hard goods like cars, furniture, etc., utilities like electricity, water and gas are intangible services. While a car can be repossessed in the case of non-payment, utilities can’t be reclaimed. That makes utilities debt collection difficult as the only real incentive for paying is disruption of service. And, since many utilities are considered essential… The post Successful Utilities Debt Collection appeared first on Optio.
Fico Collections
JUNE 8, 2023
Home Blog Feed test EV and the Future of Hyper-Personalized Automotive Experiences Steve Greenfield, CEO and Founder of Automotive Ventures, discusses how electric vehicles will drive hyper-personalization in this Q&A from FICO Mastermind Wed, 04/12/2023 - 22:39 JenniferPiccinino@fico.com by FICO expand_less Back to top Thu, 06/08/2023 - 16:20 The FICO Mastermind event is an event for executives, influencers and decision-makers in the vehicle finance industry.
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.
Troutman Sanders
JUNE 8, 2023
Please join Troutman Pepper Partners Chris Willis and Jason Cover as they discuss the Consumer Financial Protection Bureau’s (CFPB) recent special edition Supervisory Highlights focused on “junk fees.” Chris and Jason dive into the report and talk about how this fits into the CFPB’s broader initiative on junk fees, what exactly constitutes a junk fee, the types of fees the CFPB identifies as problematic, if this means that creditors can’t charge any of these fees, and steps to take to mitigate
Account Recovery
JUNE 9, 2023
The Consumer Financial Protection Bureau yesterday announced its first enforcement action in the area of medical collections, fining a medical debt collector $1.675 million for continuing to attempt to collect on debts that were not substantiated after the consumers filed disputes and for furnishing information abut the debts to the credit reporting agencies.
On Guard
JUNE 8, 2023
How finance professionals can embrace and utilise the latest technologies Artificial intelligence (AI) and machine learning (ML) have become increasingly prominent in the financial world in recent years, with innovations such as chatbot assistants, fraud detection and automated processes. The pace of these digital developments is unprecedented, with technologies like Web3 enabling organisations to work in a decentralised, distributed and democratic manner.
Sawin & Shea
JUNE 7, 2023
Co-signers are beneficial for those seeking to obtain loans and credit cards. The primary advantage of having a responsible co-signer is that it will increase your chances of receiving credit approval. Additionally, having a co-signer may enable you to secure more favorable interest rates. If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy.
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
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