Enterprise Recovery
DECEMBER 14, 2023
When clients fail to pay their invoices on time, it can negatively impact your cash flow and harm your business in various ways. Maintaining a healthy cash flow is crucial for the success of your business, so it is essential to address any issues with late payments promptly and find effective solutions to ensure a steady and stable financial foundation.
UK debt collections
DECEMBER 14, 2023
Latest Office for National Statistics (ONS) figures show that alarmingly, businesses closing has outpaced openings for the first time since 2010. The ONS Inter-Departmental Business Register shows that there was a 7% year-on-year decline in new businesses in 2022, while business closures were up 5%, meaning it was the first time since 2010 that there is more businesses closing than opening in the UK.
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Troutman Sanders
DECEMBER 14, 2023
On December 13, New York Governor Kathy Hochul signed into law S4907A , which prohibits hospitals, medical providers, or ambulance services from providing negative information about medical debt to consumer reporting agencies (CRAs). The law also requires that these entities include a provision in their contracts with collection agencies prohibiting the reporting of any portion of a medical debt to a CRA.
Account Recovery
DECEMBER 15, 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?
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
DECEMBER 14, 2023
The Consumer Financial Protection Bureau took action against Commonwealth Financial Systems for illegally trying to collect unverified medical debts.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
PDC Flow
DECEMBER 14, 2023
A lot of businesses don’t know how to set up recurring payments that make sense for customers and still bring in revenue. The most effective recurring payments balance the parameters of payment schedules, business needs, and customer preferences. The first step to successful scheduled payments is to know how, why, and when to accept recurring payments.
Account Recovery
DECEMBER 15, 2023
The Consumer Financial Protection Bureau today announced that a medical debt collector — Commonwealth Financial Systems in Pennsylvania — is being shut down for failing to conduct reasonable investigations and failing to inform the credit reporting agencies that debts were being disputed by consumers.
UK debt collections
DECEMBER 13, 2023
Following a review of business payments and cash flow, the government has found that small and medium-sized enterprises (SMEs) were owed on average £22,000 in late payments in 2022. As a result of these findings, the government has called for greater transparency to help tackle the late payment culture. The report also revealed that the average time taken to pay SMEs has reduced from 81 days in 2010 to 36 days in 2021.
Credit Corp
DECEMBER 13, 2023
Secured credit cards are designed to help individuals improve their credit history and score. However, these cards differ from traditional unsecured cards in a few ways, and it’s important to understand all the details before you apply for a secured card. What Is a Secured Credit Card? A secured card is one with a credit limit that’s secured by collateral you put up.
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Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
Jimerson Firm
DECEMBER 13, 2023
by Zachary A. Pestcoe, Esq. & Brandon C. Meadows, Esq. In the modern, digitized world, data breaches are increasingly common. Motivated and sophisticated hacker collectives target everything from financial service providers to healthcare providers trying to find accessible, sensitive information. As cybersecurity advancements race to keep pace with evolving malware and hacking tools, sometimes hackers obtain a competitive edge, and sensitive data is compromised.
Account Recovery
DECEMBER 15, 2023
MRS is pleased to announce that Kelly Feoli has been promoted to Chief Growth Officer, overseeing relations across all MRS clients and their integration into MRS Operations. Feoli has consistently demonstrated attention to quality, compliance, and operation detail advocating for the mutual benefit of clients, customers and MRS.
Collections Law
DECEMBER 15, 2023
The judge declared that the debt owed to you is legitimate and you have a judgment against your debtor. But now what? How do you actually get paid? Anyone who has any experience with debt collection will tell you that getting a court judgment is only the first step. If you have a judgment in Massachusetts and don’t know what to do next, our collections attorneys at Law Offices of Alan M.
Prosperity Now
DECEMBER 14, 2023
“I grew up in a low-income family and my parents didn’t speak fluent English. I did a lot of the paperwork for my parents when applying for benefits.” For Tracy Yeung, leveling the playing field so the economy works for families struggling to make ends meet is not just about advocating for what’s right, it’s deeply personal.
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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.
Jimerson Firm
DECEMBER 11, 2023
By Brandon C. Meadows, Esq. & Ty Robare, Law Clerk Businesses regularly store the data of customers and clients, whether through transactions or regular recordkeeping practices. When businesses hold onto this data, they are obligated to protect it from falling into the hands of unauthorized parties. In the digital age, though, the menace of data breaches looms large, often leaving a trail of individuals grappling with the loss or compromise of their personal information.
Account Recovery
DECEMBER 14, 2023
A bill has been introduced in the House of Representatives by Rep. Suzanne Bonamici [D-Ore.] that seeks to restore the Consumer Financial Protection Bureau’s Office for Students and Young Consumers. Background: The office was closed under former Acting Director Mick Mulvaney in 2018 and folded into the Bureau’s financial education efforts.
UK debt collections
DECEMBER 15, 2023
Bradford Council will issue a Section 114 notice – effectively declaring itself bankrupt – without “exceptional” government help, a report has said. A Section 114 notice would mean it may have to stop all new spending apart from essential services including social care and waste collections. A £73m overspend for the current year is predicted for the local authority.
Sawin & Shea
DECEMBER 14, 2023
In recent years, cryptocurrencies have become incredibly popular, and numerous Indiana residents own different types of digital currencies, such as Bitcoin, Ethereum, Tether, and more. Unlike other investments, these currencies are decentralized, have no association with centralized banks, and have no physical form, existing purely in the digital realm.
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?
Prosperity Now
DECEMBER 13, 2023
Step Up Savannah is a nonprofit organization founded in response to stagnantly high multi-generational poverty in Georgia and the surrounding region. Central to the agency’s work and outreach to the low-wealth community is its economic inclusion programming which includes workforce development, entrepreneurship incubation, public benefits cliff programming, financial literacy, and more.
Account Recovery
DECEMBER 13, 2023
The parent company of Facebook has launched a new voice and sound cloning tool that will not only create a cloned sounds or words, but will also record your voice and have it cloned, too. Called Audiobox, the platform was released by Meta and built by researchers at the Facebook AI Research (FAIR) lab.
UK debt collections
DECEMBER 15, 2023
Bradford Council will issue a Section 114 notice – effectively declaring itself bankrupt – without “exceptional” government help, a report has said. A Section 114 notice would mean it may have to stop all new spending apart from essential services including social care and waste collections. A £73m overspend for the current year is predicted for the local authority.
Troutman Sanders
DECEMBER 14, 2023
In this special crossover episode with Regulatory Oversight podcast, Ashley Taylor is joined by Kim Phan and Kristen Eastman from Troutman Pepper’s Consumer Financial Services practice to discuss the Consumer Financial Protection Bureau’s (CFPB) proposed Rule 1033, also known as the Personal Financial Digital Rights rule. This rule, part of the Dodd-Frank Act, aims to restrict the sale or misuse of consumer data.
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?
Credit Corp
DECEMBER 13, 2023
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers. Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Snapshot: Provided that you’re a student, you can gain access to fantastic cash back rates (anywhere from 1% – 10%, depending on the category), e
Account Recovery
DECEMBER 13, 2023
Appeals Court Affirms Ruling for Defendants in FDCPA Case New AI Tool Clones Voices and Can Create Other Sounds, Too State Court Judge Dismisses Undated MVN Suit 20 Companies Seeking Collection Talent Frost Echols Hires Jesse ‘Jay’ Tillman III WORTH NOTING: The best video games of 2023 … A professional organizer shares a philosophy to […]
Roths Child Law
DECEMBER 13, 2023
Your credit score is the number that financial institutions will use to determine how trustworthy you are as a borrower. Someone with a high credit rating may receive lower interest rates or larger lines of credit. Someone with a low credit rating may be denied for the same lines of credit, mortgage loans, car loans and things of this nature. That’s why people are sometimes concerned about filing for bankruptcy, as it will reduce their credit score.
Troutman Sanders
DECEMBER 13, 2023
On December 12, the Federal Trade Commission (FTC) published the long-awaited regulation specific to motor vehicle dealers to address concerns of consumer deception in the sales process (Final Rule). We covered the proposed rule, introduced in June 2022, in a blog post here and podcast here. In a 3-0 vote, the FTC approved the issuance of the Final Rule, which will be published in the Federal Register in the coming weeks.
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