Troutman Sanders
JANUARY 18, 2024
Please join Troutman Pepper Partner Chris Willis, along with colleagues Lori Sommerfield and Mary Zinsner, as they discuss the impact of a consent order issued by the Consumer Financial Protection Bureau (CFPB) in May 2022 relating to cross-border garnishment practices and the implications on the financial services industry over the last year and a half.
Account Recovery
JANUARY 19, 2024
A District Court judge in Washington has given the defendants in a Fair Debt Collection Practices Act and Gramm-Leach Bliley Act case 14 days to demonstrate why the case should remain in federal court or it will be sent back to state court where it was originally filed.
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Consumer Finance
JANUARY 18, 2024
The CFPB and state attorneys general sued Strategic Financial Solutions and its web of shell companies for running an illegal debt-relief enterprise.
FFGN COLLECT NY
JANUARY 15, 2024
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.
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.
UK debt collections
JANUARY 15, 2024
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.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
JANUARY 16, 2024
The CFPB today proposed a rule to rein in excessive overdraft fees charged by the nation’s biggest financial institutions.
PDC Flow
JANUARY 19, 2024
“Privacy works flexibly. It’s scalable. And it’s unique to every situation we’re in.” This is a quote from Leslie Bender , Senior Attorney of Health Privacy and Consumer Financial Privacy during her presentation at Collector Live , a yearly event hosted by Mike Gibb of AccountsRecovery.net. The virtual conference for frontline and upper management debt collectors hosted several experts including debt collection industry professional Harry Strausser III.
Jimerson Firm
JANUARY 18, 2024
By Brandon C. Meadows and Zachary A. Pestcoe Modern healthcare providers who utilize cutting-edge technology to obtain, store, analyze, and access patient data can operate with unprecedented efficiency to obtain a competitive edge in the healthcare marketplace. These benefits do not come without a cost – the cost of protecting your business and data from cybercriminals.
Account Recovery
JANUARY 18, 2024
A District Court judge in Pennsylvania has dismissed a Fair Debt Collection Practices Act and Fair Credit Reporting Act case against a collector that was accused of violating both statutes by reporting information to the credit reporting agencies, without the plaintiff’s permission.
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UK debt collections
JANUARY 16, 2024
Unpaid Rent with the cost of living crisis are continuing to impact nearly every area of our daily lives. New research has revealed that landlords are growing increasingly concerned about their tenant’s ability to pay their rent , with 44% admitting this is a big stressor for them as we head into the new year. Landlords owed an average of £725 in unpaid rent According to the survey, landlords in the UK are experiencing an average of 2.9 late payments per year, though this does differ slig
Consumer Finance
JANUARY 18, 2024
CFPB y Siete Fiscales Generales Estatales demandan a la Empresa Strategic Financial Solutions por Estafar por más de $100 Millones a Familias en Dificultades Financieras | CFPB
Troutman Sanders
JANUARY 19, 2024
Recently the U.S. Supreme Court granted the petition for certiorari in Smith v. Spizzirri, which presents the question of whether § 3 of the Federal Arbitration Act (FAA) requires district courts to issue a stay pending arbitration or allows courts the discretion to dismiss the suit when all claims are subject to arbitration. Section 3 of the FAA provides: “If any suit or proceeding be brought in any of the courts of the United States upon any issue referable to arbitration under an agreement in
Account Recovery
JANUARY 17, 2024
The Attorney General of Colorado yesterday announced a settlement with TrueAccord that will see the company pay $500,000 to settle claims it collected on illegal high-interest debt. The Background: In September 2022, investigators with the Colorado Department of Law notified the company that they would be conducting an examination of the company’s debt collection processes.
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Sawin & Shea
JANUARY 18, 2024
Financial challenges can be overwhelming, and seeking relief through Chapter 13 bankruptcy is a viable option for many. As you think about filing bankruptcy, it’s crucial to understand the interaction between Chapter 13 and car loans. Bankruptcy can impact various aspects of your financial life, including existing car loans. What is Chapter 13 Bankruptcy?
Roths Child Law
JANUARY 15, 2024
The discharge of debts at the end of bankruptcy proceedings is often the primary purpose of the process for filers. Those with insurmountable levels of debt can eliminate some of their financial obligations as a result of a filing. A discharge reduces what debts someone must pay, making it easier for them to balance their budget and meet their other financial obligations.
Troutman Sanders
JANUARY 18, 2024
On January 17, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule with request for public comment to amend exemptions to Regulation Z so the Truth in Lending Act (TILA)/Regulation Z would apply to certain overdraft “credit” provided by insured financial institutions with more than $10 billion in assets, in furtherance of the Bureau’s crusade on “junk fees.
Account Recovery
JANUARY 17, 2024
Colorado AG Fines Collector $500k for Collecting on Illegal Loans Judge Rules Maine FCRA Partially Preempted by Federal Law House Financial Services Committee Forms AI Working Group 20 Companies Seeking Collection Talent WORTH NOTING: It’s so cold in some parts of the country, that Teslas won’t charge … Etiquette experts on what to do when […]
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?
Consumer Finance
JANUARY 16, 2024
CFPB propone normativa para regir las excesivas penalidades por sobregiros, cobrados por las instituciones financieras más grandes de la nación.
ABI
JANUARY 19, 2024
Daniella Sesto St. John’s University School of Law American Bankruptcy Institute Law Review Staff Section 1112(b) of title 11 of the United States Code (the “Bankruptcy Code”) provides that a chapter 11 case may only be dismissed for cause. [1] Though courts have held that failure to file in good faith permits dismissal for cause, there is no universally accepted definition for “good faith.
Troutman Sanders
JANUARY 18, 2024
In this episode of Payments Pros, Keith Barnett and Carlin McCrory are joined by Jordan Wright, CEO of Atomic Financial, to discuss the Consumer Financial Protection Bureau’s (CFPB) proposed 1033 rule. This rule aims to limit the misuse or sale of consumer data, and is expected to be finalized by summer 2024. Transcript: Redefining Banking: A Conversation on the CFPB’s Proposed 1033 Rule (PDF) Jordan highlights the importance of data portability in banking, comparing it the telecommunications in
Account Recovery
JANUARY 16, 2024
The Attorney General of Massachusetts has announced that one of the nation’s largest servicers of student loans will pay a fine of $1.8 million after it was accused of failing to communicate with borrowers about renewing income driven repayment programs.
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?
Collection Industry News
JANUARY 19, 2024
Jan 22 (Reuters) – The month is poised to be the busiest January on record for new U.S. corporate bond sales, with two regional banks on Monday adding to what has been a rush of post-earnings debt issuance by banks. Truist Financial Corp (TFC.N), opens new tab, the financing arm of Truist Bank, on Monday announced a two-part senior unsecured bond offering.
ABI
JANUARY 19, 2024
Zhiqian Ke St. John’s University School of Law American Bankruptcy Institute Law Review Staff Under section 503(b) of Title 11 of the United States Code (“Bankruptcy Code”), allowed administrative expenses have priority status in receiving distributions from the bankruptcy estate. [1] Section 503(b)(9) states that after notice and a hearing, administrative expenses should be allowed for “the value of any good[s] received by the debtor within 20 days before the date of commencement of a case
Troutman Sanders
JANUARY 17, 2024
On January 9, SB 1146 , entitled the Earned Wage Access Services Act, was introduced into the Florida Senate. The bill would require earned wage access (EWA) providers to register with the Florida Financial Services Commission. The bill also requires EWA providers to develop procedures for dealing with consumer questions and complaints, requires consumer notifications, and requires providers to offer at least one reasonable option for consumers to get EWA proceeds at no cost.
Account Recovery
JANUARY 16, 2024
Collector Facing Class-Action For Sending Email to Plaintiff, 26 Others Judge Denies Competing Summary Judgment Motions in FCRA Case Over Dispute Investigation Student Loan Servicer Fined $1.
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