Taurus Collect
DECEMBER 18, 2023
In the dynamic world of business, maintaining a steady cash flow can be a challenge, particularly when clients fail to settle their debts on time. This is where a commercial debt collection agency comes into play. One of the key trends in this industry is the ‘no collection no fee debt collection’ approach, a cost-effective solution for businesses grappling with unpaid debts.
Account Recovery
DECEMBER 20, 2023
Normally, companies in the accounts receivable management industry are like a school of fish — they all move in the same direction at the same time. When things are good, they are good for everyone. When things are bad, everyone suffers.
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FFGN COLLECT NY
DECEMBER 19, 2023
Having not been paid by your client, you filed a mechanics’ lien, liening underlying property to protect your right to payment. However, the mechanics’ lien you filed was bonded. What does that mean for you as far as collecting a debt in New York goes? What next steps should you take? To remove the lien from the underlying property, the general contractor, owner or another purchased a surety bond to “bond off the lien.
Troutman Sanders
DECEMBER 20, 2023
On December 19th, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a report highlighting consumers’ experiences with overdraft and nonsufficient funds (NSF) fees. The report found that roughly a quarter of consumers are still being charged these fees despite the CFPB’s hostility towards so called “junk fees,” which has led many banks and credit unions to eliminate such fees.
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.
Jimerson Firm
DECEMBER 19, 2023
Recently, a federal jury in the Middle District of Missouri found the National Association of Realtors (“NAR”) and two major real estate brokerages—Keller Willams and HomeServices of America—liable under United States antitrust laws for conspiring to fix prices in the class action lawsuit, Burnett v. NAR, et al. Specifically, the jury found that the Defendants were artificially inflating home prices by requiring a commission to be paid to the buyer’s real estate agent by the seller at closing.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
DECEMBER 18, 2023
The Consumer Financial Protection Bureau ordered U.S. Bank to pay nearly $21 million for keeping consumers from accessing unemployment benefits during the COVID-19 pandemic.
Credit Corp
DECEMBER 22, 2023
Has a friend or family member asked you for a loan? This can be a difficult situation. On one hand, you likely want to help them out. On the other hand, you don’t want to be out the money or put a strain on the relationship. The trick is to know how to loan money the right way. Before you agree to loan any money to a friend or family member, think about how reliable they are.
Troutman Sanders
DECEMBER 20, 2023
A group of non-profit consumer advocacy organizations, the Conference of State Bank Supervisors, and the American Association of Residential Mortgage Regulators filed two separate briefs asking the U.S. Supreme Court to overturn a Second Circuit decision holding that New York’s escrow interest law is preempted by the National Bank Act (NBA) under the “ordinary legal principles of pre-emption.
Account Recovery
DECEMBER 22, 2023
A healthcare provider in California has announced it is going to forgive the unpaid medical debts for all of its patients that was incurred during the first three years COVID-19 pandemic. By the Numbers: About 29,000 patients will have their medical debts wiped clean, according to the report. Those patients owed a combined $40.
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Consumer Finance
DECEMBER 18, 2023
The Consumer Financial Protection Bureau (CFPB) today issued a new report finding that many consumers are still being hit with unexpected overdraft and nonsufficient fund (NSF) fees, despite recent changes implemented by banks and credit unions that have eliminated billions of dollars in fees charged each year.
NCBA Law Practice Management Blog
DECEMBER 17, 2023
I was talking to a business owner the other day, and he was reluctant to design a website. He doesn’t want the focus to be o n him. He wants everything to be about the client s he serves. Now, this person was not a lawyer; but, I also hear this sentiment from lawyers regularly, as well. They believe that their websites have to focus on them, in order to be compelling to legal consumers.
Sawin & Shea
DECEMBER 21, 2023
When an individual or business files for bankruptcy, an automatic stay immediately goes into effect. This stay halts most collection activities and legal actions against the filer. For debtors, the automatic stay provides critical breathing room to address financial issues under bankruptcy court protection. What is an Automatic Stay? An automatic stay refers to the legal injunction put into place upon filing for bankruptcy.
Account Recovery
DECEMBER 21, 2023
The Consumer Financial Protection Bureau yesterday announced it had filed suit against a developer and lender for operating an illegal land sale scheme and targeting Hispanic borrowers with loans they couldn’t afford, many of which ended up in foreclosure and allowed the company to repeat the process.
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Consumer Finance
DECEMBER 18, 2023
The Consumer Financial Protection Bureau found that many college-sponsored financial products have higher fees and worse terms and conditions compared to typical market products.
Troutman Sanders
DECEMBER 21, 2023
On December 20, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) filed a complaint in a Texas federal court against Colony Ridge Development, LLC (Colony Ridge), its affiliates, and Loan Originator Services, a Texas mortgage company, for allegedly operating an illegal land sales scheme and targeting tens of thousands of Hispanic borrowers with false statements and predatory loans.
TCPA
DECEMBER 21, 2023
The United States District Court for the District of Oregon recently issued a significant opinion regarding the legal framework for certifying Do-Not-Call claims. See Mattson v. New Penn Financial LLC, 2023 WL 8452659 (D. Or. 2023).
Account Recovery
DECEMBER 20, 2023
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.
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
DECEMBER 19, 2023
The Consumer Financial Protection Bureau and the Justice Department sued Colony Ridge for operating an illegal land sales scheme and targeting Hispanic borrowers.
Troutman Sanders
DECEMBER 21, 2023
Washington now joins the list of states that have enacted or proposed legislation adopting so-called anti-evasion provisions, including legislation passed in Minnesota, discussed here , Connecticut, discussed here , Nebraska, discussed here , and proposed in Florida, discussed here. On December 5, HB 1874 was filed, which would amend the Washington Consumer Loan Act (CLA) to adopt both predominant economic interest and totality of the circumstance tests to determine the “true lender” of a loan u
JMA
DECEMBER 21, 2023
Choosing the right debt collection agency is a critical decision for any business in Sydney. The ability to effectively recover outstanding debts can significantly impact your financial health and business operations. However, it’s not just about recovering funds; it’s also about maintaining valuable customer relationships and upholding your business’s reputation in the process.
Account Recovery
DECEMBER 19, 2023
We don’t normally write about automotive repossessions here, but it is a Fair Debt Collection Practices Act case and it is the Court of Appeals for the Second Circuit, so it’s probably got something worthwhile for companies in the accounts receivable management industry to know, right?
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?
Consumer Finance
DECEMBER 17, 2023
The FDIC Board of Directors is voting on a final rule to update the framework governing official FDIC signs and advertising requirements, as well as misrepresentations related to federal deposit insurance.
Troutman Sanders
DECEMBER 21, 2023
In this episode of The Consumer Finance Podcast , Chris Willis is joined by Kim Phan, a partner in our firm’s Privacy + Cyber practice, to discuss the Securities and Exchange Commission’s new cyber risk management and incident disclosure rules for publicly traded companies. The rules, already in effect, detail the information a public company must report following a cybersecurity incident and the timeline for reporting.
JMA
DECEMBER 21, 2023
In the bustling economic landscape of Sydney, maintaining robust cash flow is the lifeline of any business. Cash flow, essentially the net amount of cash moving in and out of a business, dictates its capacity to thrive and expand. However, in the face of delayed payments and accumulating debts, preserving a healthy cash flow can. Read more » The post How Our Sydney Debt Collectors Improve Cash Flow and Help Your Business appeared first on JMA Credit Control.
Account Recovery
DECEMBER 19, 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?
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