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One of the more frustrating parts of running any type of business is when customers pay late or do not pay at all. We’re confident you would agree with that statement. As a debt collection agency that works with small business and large organizations, we hear the disappointments regularly from people just like you we are consulting with. When we conduct our free consultations for debt collections , it’s one of the first things we hear.
A Pennsylvania collection agency has filed a data breach notification with the Maine Attorney General, indicating that nearly 500,000 consumers were affected by the breach, which occurred last month. A copy of the sample letter that was sent to affected consumers by NCB Management Services can be accessed by clicking here. The breach occurred on … The post Agency Discloses Data Breach, Information on 500k BofA Customers Compromised first appeared on AccountsRecovery.net.
Debt collection is an important aspect of financial management for businesses and individuals. It involves pursuing unpaid debts and overdue payments from customers or clients. While debt collection can be a challenging and complex process, effective techniques can help businesses recover their debts and maintain their cash flow. In Australia, debt collection is regulated by.
Diana M. Eng, Louise Bowes Marencik, and Jonathan K. Moore ● Entities regulated by the Consumer Financial Protection Bureau (“CFPB”), including banks, credit unions, payday lenders, mortgage servicers, debt collectors, and other financial services providers, should take note that the Second Circuit has … Continue reading → The post Second Circuit Holds CFPB’s Funding Structure Is Constitutional appeared first on Consumer Finance Watch.
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.
When you have a commercial debtor who won’t pay but stays in business, they’re using your money to stay afloat. We called this “creditor financing.” Worse, they may be using your money to buy materials from your competitors. This is a battle for control of the money. Your debtor claims they cannot pay (“CANOPS”), but they’re still in operation. It’s more likely they will not pay (“WILLNOPS”).
The results are in. After a 6-month trial of over 60 companies in the United Kingdom, nearly every company in the pilot study has chosen to continue a four-day workweek. Company revenue stayed roughly the same during the trial but showed a 35% increase compared to similar periods in previous years. Most importantly, employee turnover was reduced by 57% with reports of improved well-being, better work-life balance, and reduced stress.
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The results are in. After a 6-month trial of over 60 companies in the United Kingdom, nearly every company in the pilot study has chosen to continue a four-day workweek. Company revenue stayed roughly the same during the trial but showed a 35% increase compared to similar periods in previous years. Most importantly, employee turnover was reduced by 57% with reports of improved well-being, better work-life balance, and reduced stress.
A District Court judge in Illinois has granted a defendant’s motion for summary judgment, ruling that the verification information it sent to the plaintiff was sufficient to validate and debt and that it was not a false or misleading act to place the account with another agency while it was being disputed with the original … The post Judge Grants MSJ for Defense in FDCPA Case Over Validation Requests first appeared on AccountsRecovery.net.
The Federal Reserve issued a press release announcing its plans for a July debut of FedNow , its service “to facilitate nationwide reach of instant payment services by financial institutions.” As previously discussed here , the FedNow service will provide individuals and businesses the ability to send and receive instant payments through the Federal Reserve’s Fedline® network at any time of day seven days a week.
Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article Two More Reports Repeat: AI Will Probably Affect Your Job originally appeared on NerdWallet.
The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination.
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.
COMPLAINT ACCUSES COLLECTOR OF CALLING AT INCONVENIENT TIME The Fair Debt Collection Practices Act prohibits collectors from communicating with consumers at times and places known by the collector to be inconvenient to the consumer. But what the FDCPA doesn’t necessarily do is draw the line that defines when a collector has been told that he … The post Daily Digest – March 31.
Key takeaways: Investing is a way to increase your wealth based on your risk tolerance and time horizon The best investments for low-risk investors looking for moderate returns are index funds, government bonds, and high-yield savings accounts The best investments for high-risk investors that want high returns are individual stocks, real estate, and cryptocurrencies Investing is one of the best ways to grow your wealth and improve your financial future.
On March 23, SB 1033 , An Act Concerning Various Revisions to the Banking Statutes, was given a favorable report by the Legislative Commissioners’ Office and sent to the Connecticut Senate. With this bill, Connecticut hopes to join several other states that have set strict rate caps on consumer loans, including Illinois, New Mexico, Colorado and California, and those that expressly provide for a predominant economic interest test for true lender purposes.
Today, the Consumer Financial Protection Bureau (CFPB) announced it has determined that state disclosure laws covering lending to businesses in California, New York, Utah, and Virginia are not preempted by the federal Truth in Lending Act.
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.
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 Complaint Accuses Collector of Calling at Inconvenient Time first appeared on AccountsRecovery.net.
Quick answer box A money market account is an interest-earning savings account, with some features of a checking account. Saving money is the best way to prepare for unexpected life events and take control of your finances. But where is the best place to save your money? If you’ve been researching different savings accounts, you may have wondered, “What is a money market account?
Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article Is the Remote Work Boom Busting? originally appeared on NerdWallet.
If you’re considering filing Chapter 7 or Chapter 13 bankruptcy, you need to be aware of the different components of the filing process, including the role of the bankruptcy trustee. The court-appointed bankruptcy trustee plays a vital role during bankruptcy because they represent debtors’ estates and will make recommendations to the bankruptcy court.
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!
A collector is not obligated to include a notification that the statute of limitations on a debt has expired as long as it does not initiate or threaten legal action on the debt, the Pennsylvania Superior Court ruled yesterday in affirming a lower court’s decision. A copy of the ruling in the case of Matteo … The post Pa. Appeals Court Affirms Ruling That SOL Disclosure Not Required in Late Letters first appeared on AccountsRecovery.net.
Getting a credit card is like taking a step toward financial adulthood. It brings you into the world of building credit and paying bills, which almost everyone has to deal with at some point, so it can help to get started as soon as possible. But the “firsts” of adulthood aren’t always easy, and that includes getting your first credit card.
Reaching consumers can feel harder than ever these days, so struggling to engage delinquent customers can leave some businesses ready to accept losses as just another “cost of doing business.” With 75% of Americans reporting that they will never answer calls from unknown numbers, even the most targeted scoring model for calling has low chances of recovering funds.
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.
Not content with hoping that the Supreme Court will strike down a program started by the federal government to wipe out as much as $20,000 in student loan debt for individuals, a number of Republicans have started the process of using the Congressional Review Act to keep the program from ever being implemented. Republicans in … The post Republicans Invoke CRA to Overturn Student Loan Debt Cancellation Program first appeared on AccountsRecovery.net.
Background In McLaren Macomb , 372 NLRB No. 58 (2023), the National Labor Relations Board (“Board”) overruled two prior decisions and held that an employer violates the National Labor Relations Act (NLRA) “when it proffers a severance agreement with provisions that would restrict employees’ exercise of their NLRA rights,” including agreements containing reasonably standard confidentiality-of-agreement and non-disparagement provisions.
Anya Kartashova writes for NerdWallet. Email: travel@nerdwallet.com. The article What’s the Best Deck on a Cruise Ship? originally appeared on NerdWallet.
Liquidators have listed 61 creditors owed a combined total of £1.14m after luxury car retailer Autovogue slipped into liquidation this month. Documents filed with Companies House yesterday (March 26) showed that BCA Partner Finance was the main creditor of Staffordshire-based Autovogue, which ceased trading in February – leaving a trail of dissatisfied customers.
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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