NACM
MARCH 15, 2023
I'm still in the process of finishing module 8 of FCIB's International & Credit Risk Management (ICRM) course. As I mentioned in my last post, this module covers letters of credit, guarantees and bonds. I just answered one of the discussion post questions, "Your customer in Ethiopia has just placed a large order and has offered payment through.
Fico Collections
MARCH 15, 2023
Home Blog FICO Top 5 2023 Trends Redefining Banking Today FICO’s 2023 Trends Report reveals what’s impacting the financial services industry Saxon Shirley Wed, 05/25/2022 - 03:43 by Darryl Knopp expand_less Back To Top Wed, 03/15/2023 - 18:00 We are currently at an apex where several profound transformations are converging on the banking landscape – machine intelligence is positioned to complement (and even exceed) human intelligence, there are significant advancements in analytics and AI, and t
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Account Recovery
MARCH 16, 2023
A bipartisan bill has been introduced in the House of Representatives that seeks to amend the Fair Credit Reporting Act so that more servicemembers would have access to credit monitoring services. Information about the proposed legislation, H.R. 1521, can be accessed by clicking here. The bill was introduced by Rep. Elise Stefanik [R-N.Y.] and Rep. … The post Bill Introduced to Amend FCRA and Expand Credit Monitoring to All Servicemembers first appeared on AccountsRecovery.net.
Nexa Collect
MARCH 13, 2023
Large clients often assign hundreds ( even thousands) of accounts to a collection agency in one go. This large batch is usually their past-due inventory accumulated over the years. Suppose a client submits a batch of 1000 accounts to the collection agency. These accounts are assigned to multiple debt collectors who will start sending collection demands or making phone calls to all these 1000 accounts in a matter of days.
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.
Consumer Finance
MARCH 14, 2023
The Consumer Financial Protection Bureau (CFPB) has launched an inquiry into companies that track and collect information on people’s personal lives.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
MARCH 13, 2023
A District Court judge in Illinois has denied a defendant’s motion for summary judgment in a Fair Credit Reporting Act case, determining that the defendant did not conduct a reasonable investigation into the plaintiff’s dispute because it did not actually read the dispute and look into what the plaintiff submitted. A copy of the ruling … The post Judge Denies Defendant’s MSJ in FCRA Case Over Duplicate Reporting first appeared on AccountsRecovery.net.
Credit Corp
MARCH 13, 2023
Buying a used car can lower the cost of your purchase, letting you move into car ownership with a much smaller loan. This might also be beneficial if you don’t have the credit or income to qualify for a loan amount that would cover a new car price. You might get an even better deal if you buy a used car through a private seller. However, it’s important to ensure you’re protected from scams and engaging in a safe transaction.
Consumer Finance
MARCH 15, 2023
Today, the Consumer Financial Protection Bureau (CFPB) released a bulletin warning servicers of their obligation to halt unlawful conduct with respect to private student loans that have been discharged by bankruptcy courts.
Fico Collections
MARCH 14, 2023
Home Blog FICO Claims Automation for Health Plans: Transformation with a Small “t” By focusing on transformation with a small “t” that addresses measurable performance gaps, health plans and administrators can use claims automation to control costs and risk FICO Admin Tue, 07/02/2019 - 02:45 by Paul Crowder expand_less Back To Top Tue, 03/14/2023 - 14:15 Some time ago, I witnessed a plea for help in a global healthcare summit from a Director of Claims Management for assistance in automating thei
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Account Recovery
MARCH 17, 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? Call … The post FDCPA Class Action Filed Over Whether Attorney was Acting as Collection Agency first appeared on AccountsRecovery.net.
Nerd Wallet
MARCH 15, 2023
Steven Porrello writes for NerdWallet. Email: wpguestuser+sporrello@nerdwallet.com. The article 10K Laid Off and Weak Results — Why Is Meta Stock Up 54% YTD? originally appeared on NerdWallet.
Roths Child Law
MARCH 15, 2023
Most people are rather flippant about the prospect of losing a job. They assume that they can just find another position elsewhere and will bounce back quickly. Unfortunately, job loss is often a more serious issue than people realize. Those who do their jobs well may only lose their job during the mass termination or layoff, which could mean that there is a glut of workers out looking for employment alongside highly qualified fellow applicants.
Credit Corp
MARCH 16, 2023
Do you think it’s possible someone stole your tax refund check? You wouldn’t be alone. In 2020, just under 1.4 million people reported cases of identity theft, and around 400,000 of those involved the theft of government benefits or documents —including tax refunds. The issue was concerning enough that the IRS started what it calls Identity Theft Central to provide information about identity theft.
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Account Recovery
MARCH 17, 2023
The Consumer Financial Protection Bureau yesterday released a bulletin warning companies to go back and look at money it collected from individuals with student loans to make sure they were not collecting money for loans that had been properly discharged during bankruptcy proceedings, and if it had collected on those loans, to return that money … The post Companies Illegally Collecting on Student Loans Discharged in Bankruptcy: CFPB first appeared on AccountsRecovery.net.
Nerd Wallet
MARCH 16, 2023
Lee Huffman writes for NerdWallet. Email: travel@nerdwallet.com. The article Can You Get Social Security Retirement and Disability at the Same Time? originally appeared on NerdWallet.
PBWT
MARCH 12, 2023
Last Friday, state regulators closed the Silicon Valley Bank (SVB), a federally insured institution with 17 branches throughout California and Massachusetts. It’s the first bank insured by the Federal Deposit Insurance Corporation (FDIC) to close since 2020. In December, SVB reported roughly $209 billion in total assets and $175.4 billion in total deposits, making this the biggest bank closure since the 2008 financial crisis.
Credit Corp
MARCH 16, 2023
Taxes don’t directly impact your credit. However, how you manage your tax debt and pay your taxes can have an impact on your credit history and score indirectly. Find out more about taxes and credit below, including whether filing a tax extension can hurt you. In This Piece How Is Your Credit Affected When You Don’t Pay Your Taxes? How Paying Your Taxes Can Affect Your Credit How to File a Tax Extension and if It Is Right for You How Is Your Credit Affected When You Don’t Pay Your Taxes?
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
MARCH 17, 2023
Too little, too late, a District Court judge in New York has ruled, granting a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, determining that claims raised by the plaintiff in opposing the motion to dismiss to prove she had standing do not reach the threshold necessary to allow the case to … The post Judge Grants MTD in FDCPA Case for Lack of Standing first appeared on AccountsRecovery.net.
Nerd Wallet
MARCH 17, 2023
Randa Kriss writes for NerdWallet. Email: rkriss@nerdwallet.com. The article Using the SBA 7(a) Loan as a Business Acquisition Loan originally appeared on NerdWallet.
Sawin & Shea
MARCH 14, 2023
Indiana allows debtors to exempt assets when filing for bankruptcy up to a certain monetary amount, and that amount recently increased. When filing, you are allowed to exempt a portion of your home’s equity, tangible personal property, and intangible personal property. In this blog, we’ll share the details regarding this exemption increase, the different exemption categories, and how these exemptions impact Chapter 7 and Chapter 13 bankruptcy.
UK debt collections
MARCH 13, 2023
Time is Money: Late payments ‘stifle’ small businesses across UK report shows The Federation of Small Businesses (FSB) has released a report that uncovers the true scale of damage caused by the late payments crisis as entrepreneurs say: ‘ enough is enough.’ Time is Money: The Case for Late Payment Reform , exposes the insufficient measures in place to hold big businesses to account and calls for a level playing field for smaller firms.
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
MARCH 17, 2023
The U.S. Chamber of Commerce’s Institute for Legal Reform has published a report calling out plaintiff’s attorneys for filing hundreds or thousands of similar demands against a defendant in arbitration proceedings that force defendants to settle claims in a form of “blackmail.” A copy of the report can be accessed by clicking here.
Nerd Wallet
MARCH 15, 2023
Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia. The article Should Remote Workers Take Hush Trips? Experts Weigh In originally appeared on NerdWallet.
Prosperity Now
MARCH 12, 2023
This year marks the 30th Anniversary of the Family and Medical Leave Act (FMLA).
FFGN COLLECT NY
MARCH 17, 2023
In order to allow creditors time to file actions that might have gone past the statute of limitations due to the shutdown of the New York courts during the COVID-19 pandemic, the governor issued a series of executive orders that have had long-term effects on New York debt collection litigation. At the onset of the pandemic, Governor Cuomo issued Executive Order 202.8 , which stopped the clock on the statute of limitations on civil cases including debt collection matters until April 19, 2020.
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