Sat.Dec 19, 2020 - Fri.Dec 25, 2020

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What the New COVID Relief Package Means For Your Money

Nerd Wallet

A second wave of federal coronavirus relief totaling $900 billion could begin flowing to millions of Americans as soon as the year’s end, nearly nine months after Congress passed the original pandemic relief package known as the CARES Act. Here’s what the COVID relief package — part of a $2.3 trillion spending bill passed by Congress. NerdWallet writes for NerdWallet.

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Should You Refinance Part of Your Student Loans?

Nerd Wallet

If she could do it over, Vy Chuong says she would. Chuong, 26, from Seattle, refinanced roughly $55,000 in federal student loans with a private lender in February. A month later, the government suspended most federal loan payments interest-free until September. That break has since been extended through January 2021. Chuong’s new loan doesn’t qualify.

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How to Get Started on a Post-Pandemic Budget Recovery Plan

Nerd Wallet

Many Americans are hoping to get their finances back on track in 2021 after a rough year. Increasing savings, paying off debt and improving credit scores were the most popular goals cited by Americans in a recent NerdWallet survey. At the same time, many Americans also said they want to keep some of the good. Kimberly Palmer writes for NerdWallet. Email: kpalmer@nerdwallet.com.

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CBE To Open Call Center in Tennessee, Will Hire 500 Employees

Account Recovery

The CBE Group is taking over a call center that used to be used by Convergys is Clarksville, Tenn., and plans to create 500 new jobs in the area, according to published reports. About half of the jobs are expected to be created in 2021 and the company is expected to start recruiting new hires … The post CBE To Open Call Center in Tennessee, Will Hire 500 Employees appeared first on AccountsRecovery.net.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

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9 Apps That Will Help You Manage Your Debt

Credit Corp

Debt can feel like a terrible thing, but paying off your debts is how you demonstrate that you can successfully manage your finances. Whether you make your debt payments on time makes up 35% of your credit score. Making on-time payments is one of the smartest ways to use your debt to your advantage. If you need a little help, debt management apps can help you organize and manage all of your debts in one place.

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How the COVID Era Has Inspired Travel for 2021

Nerd Wallet

When Gianna De Salvo took her 4-year-old daughter Arabella to see Santa Claus this year, it was far from the merry experience she anticipated. “She took one look at him and froze,” De Salvo says. Santa was wearing a mask. That’s not what Arabella was expecting, and there was certainly no lap-sitting; Arabella stood behind. Sally French writes for NerdWallet.

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Sixth Circuit Reverses Ruling in FDCPA Envelope Case

Account Recovery

The Sixth Circuit Court of Appeals has reversed a lower court’s ruling in favor of a defendant that was sued for violating the Fair Debt Collection Practices Act, ruling that all the information that can be viewed through the glassine window portion of an envelope containing a collection letter matters under Section 1692f(8) of the … The post Sixth Circuit Reverses Ruling in FDCPA Envelope Case appeared first on AccountsRecovery.net.

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What Is a Soft Credit Check?

Credit Corp

Whenever you apply for anything—a loan, credit card, etc.—the lender will need to look into your credit report. Called a credit check, there are two kinds of credit checks—hard and soft. Each is used for different reasons and has a different impact on your credit score. Below, find out more about soft credit checks, when and how they’re used and why they’re beneficial.

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PDCflow 2020 Year in Review

PDC Flow

PDCflow Product Enhancements. Our team has worked hard this year to build exciting features for our customers. These improvements will help us deliver even better care to our customers and partners. Organizational Hierarchy. Many organizations have some degree of complexity that must be addressed. For PDCflow clients with multiple locations and departments (anywhere from two - hundreds), we have expanded our software’s capabilities to address your needs.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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.

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Scam Alert: Second Relief Bill, Vaccine Rollout Attract Fraudsters

Nerd Wallet

One side effect of the coronavirus pandemic is an abundance of criminals trying to take advantage of people. The arrival of vaccines and legislation that would send out a second round of relief payments bring new opportunities for fraud. Knowing the latest schemes and keeping a healthy skepticism can help you avoid being victimized. Check out these.

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CFPB Fines Santander $4.75M for FCRA Violations

Account Recovery

The Consumer Financial Protection Bureau yesterday announced it had issued a consent order against Santander Consumer USA, accusing it of violating the Fair Credit Reporting Act by furnishing accurate information to credit reporting agencies and fining the nonprime auto lender $4.75 million. A copy of the consent order is available by clicking here.

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COVID-19 Is Leading to More Chargeback Issuances

Credit Corp

The following is a guest post by Monica Eaton-Cardone, cofounder and COO of Chargebacks911 ®. Millions of consumers have been trapped at home for months due to COVID-19. It’s no surprise, then, that digital shopping channels have seen a surge of activity since the beginning of the outbreak. E-commerce sales were up 55% year-over-year in July according to Adobe Analytics.

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Consumer Financial Protection Bureau Settles with Santander Consumer USA Inc. for Credit Reporting Violations in Connection with Its Auto Loans

Consumer Finance

On December 22, 2020, the Consumer Financial Protection Bureau issued a consent order against Santander Consumer USA Inc. to address the Bureau’s finding that it violated the Fair Credit Reporting Act.

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10 Ways to Improve Payment Collections with Salesforce

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.

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Airbnb vs. Vrbo: Which Is Better for Travelers?

Nerd Wallet

Vacation rentals offer many potential benefits compared with hotel rooms, including lower prices, more amenities and a more personal touch. Yet knowing which vacation rental platform provides the best overall experience for travelers is another question. Here we compare two popular vacation rental platforms — Airbnb and Vrbo — across several criteria.

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Class-Action Suit Filed Against Collection Agency

Account Recovery

A class-action lawsuit has been filed against a debt collector, accusing it of making it look like the collector purchased debts from a healthcare provider when it had not done so and for violating a state collection law in Colorado. A copy of the complaint in the case of Zachary Waite and Cathy Wood-Sullivan v. … The post Class-Action Suit Filed Against Collection Agency appeared first on AccountsRecovery.net.

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8th Circuit Determines That Evidence Is Required To Prove Vicarious Liability For FDCPA Claims

Troutman Sanders

The Eighth Circuit Court of Appeals held that the actions of a debt collector are not necessarily imputed to a debt buyer. This holding reversed the Western District of Arkansas District Court, which held that the actions of the debt collector are necessarily imputed to the debt buyer. The full opinion of Reygadas v. DNF Associates, LLC can be found by clicking here.

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Consumer Financial Protection Bureau Settles with Remittance Transfer Provider for Remittance Transfer Rule Violations

Consumer Finance

On December 21, 2020, the Consumer Financial Protection Bureau announced a settlement with Envios de Valores La Nacional based on the finding that La Nacional violated the Electronic Fund Transfer Act and the Remittance Transfer Rule.

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Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

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?

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Mortgage Outlook: January Rates Remain in the Deep Freeze

Nerd Wallet

January mortgage rates forecast The year begins with mortgage rates near historically low levels, with the 30-year fixed-rate mortgage averaging under 3%. Rates will remain low in January. Today’s mortgage rates sprouted from the pandemic and the resulting recession, in which millions of jobs withered. Some lost jobs will return in 2021, but the economy.

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Daily Digest – December 24. Advocates Share Feelings about Part II of Debt Collection Rule; Long on Problems, Short on Solutions

Account Recovery

ADVOCATES SHARE FEELINGS ABOUT PROVISIONS OF PART II OF CFPB DEBT COLLECTION RULE Now that Part II of the Consumer Financial Protection Bureau’s debt collection rule has been released, consumer advocates can finally get a fuller sense of what protections are being put in place for consumers, and they are having no problem sharing how … The post Daily Digest – December 24.

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Key Tax Provisions of COVID Relief Bill

Burr Forman

Congress passed the Consolidated Appropriations Act, 2021 (the Act) on December 21, 2020. The Act, which is 5,593 pages, contains a number of stimulus measures designed to address the economic impact of the coronavirus crisis. While the bill has not become law as of the date of this blog, it is expected to be signed by the President quickly and then become law.

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Is Florida Queasy About Creasy?

TCPA

On the same day last week, two different judges in the Middle District of Florida issued divergent decisions regarding the effect of the Supreme Court’s holding in Barr v. AAPC, 140 S. Ct. 2335, 2347 (2020).

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ERM Program Fundamentals for Success in the Banking Industry

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?

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First-Time RV-Buying Mistakes to Avoid

Nerd Wallet

Recreational vehicle sales are soaring, and the RV industry expects 2021 to be a record-breaking year. Dealerships say much of the demand is coming from first-time buyers and others anxious to find a safer way to vacation during the pandemic. As any RV owner will tell you, though, buying a motorhome, camper or trailer is. Liz Weston writes for NerdWallet.

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Long on Problems, Short on Solutions

Account Recovery

As I have gotten older and lazier, I have come to adopt a saying that I think is very wise, especially for someone like me — don’t bring me a problem, bring me a solution. I was reminded of that clever saying as I read yet another article spotlighting another hospital for having to sue … The post Long on Problems, Short on Solutions appeared first on AccountsRecovery.net.

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“Revoked Consent: Plaintiff Awarded $122,500 in Statutory Damages in Partial Summary Judgment Against Debt Collector and CEO in TCPA Case”

Troutman Sanders

In Ramsey v. Receivables Performance Mgmt., LLC , Judge McFarland, of the United States District Court for the Southern District of Ohio, granted partial summary judgment for Phillip Ramsey, Plaintiff – holding that Receivables Performance Management, LLC and Howard George (Chief Executive Officer, RPM), Defendants, violated the Telephone Consumer Protection Act by calling Plaintiff two hundred and forty-five times with an automatic telephone dialing system after Plaintiff revoked consent.

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What is CitiCards CBNA On My Credit Report

Better Credit Blog

Have you recently discovered an entry from CitiCards CBNA on your credit report? If so, it’s likely the result of an application for one of Citibank’s credit cards. Applying for loans or credit cards can lead to a hard inquiry on your credit report. While that’s nothing to worry about in most cases, if you don’t recall applying for a card, you could be the target of an identity thief or a reporting error.

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.