Sat.Jul 30, 2022 - Fri.Aug 05, 2022

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5 Ways to Feel Richer (Even If You’re Not)

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. In some ways, feeling “rich” is less about how many zeroes you have in your bank account and more. Kimberly Palmer writes for NerdWallet.

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Proposed New Data Security Rules Could Prove Duplicative, Forcing Banks to Turn Over Dangerous Amounts of Secured Data

Troutman Sanders

An amendment to the National Defense Authorization Act passed by the House in July would create a “systemically important entity” designation, applying new regulations and offering priority aid to certain critical infrastructure companies. But the American Bankers Association and Bank Policy Institute say the amendment as applied to financial institutions would duplicate existing regulations under the Dodd-Frank Act, while also requiring the turnover of a substantial amount of cybersecurity-rela

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Goldman Discloses CFPB Looking Into its Credit Card Operation

Account Recovery

Goldman Sachs, which launched a credit card business in partnership with Apple, announced yesterday that it is being investigated by the Consumer Financial Protection Bureau for how it handles customer refunds and billing disputes, and how it furnishes information to the credit bureaus. Goldman, which is making a big push into the credit card lending … The post Goldman Discloses CFPB Looking Into its Credit Card Operation appeared first on AccountsRecovery.net.

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10 of the Best B2B Leadership Quotes

Enterprise Recovery

Being a leader in a tough economy means staying positive, no matter what. Inspiration can be hard to come by, but it's necessary to motivate those around you. Allow these quotes to encourage you to push past the tough times and create a wave of possibility. Here are 10 of the Best B2B Leadership Quotes to keep you motivated.

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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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The Ethereum Merge Is Coming: What It Means for You

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. The Ethereum merge is the moment when the network switches from using a proof-of-work consensus mechanism to proof-of-stake.

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Judge Partially Grants MSJ for Plaintiff in FDCPA Case Over Collecting Incorrect Amount

Account Recovery

A District Court judge in Washington has partially granted a plaintiff’s motion for summary judgment, ruling that the defendant’s attempts to collect an unpaid apartment debt that was inflated because the creditor determined that the plaintiff had forfeited her security deposit violated certain provisions of the Fair Debt Collection Practices Act.

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Anti-Robocall Litigation Task Force Targets Facilitators of Foreign Illegal Robocalls

Troutman Sanders

Escalating efforts to crack down on illegal robocalls, state attorneys general announced on August 2 that they have established a nationwide Anti-Robocall Litigation Task Force. The task force comprises attorneys general from all 50 states and will investigate and prosecute companies suspected of allowing or using illegal robocalls from foreign entities.

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6 Ways to Support Small Businesses Hit With Inflation

Nerd Wallet

Small businesses still adapting to the pandemic and labor shortages face yet another economic hurdle. Inflation is the top concern for 44% of small-business owners, according to a 2022 MetLife and U.S. Chamber of Commerce Small Business Index. It could also be a contributing factor to their decreasing morale. The Small Business Optimism Index, measured.

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Survey shows 1 in 2 Small Businesses struggling with late payments

UK debt collections

The latest survey and research undertaken the the Federation of Small Businesses shows late payment is worse than ever. A survey of 1,300 Small Businesses and sole traders showed that half of SME’s are dealing with late payment for the quarter April to June 2022. Of the businesses surveyed, 1 in 5 said the issue of small business late payment is worsening due to chaotic economic conditions.

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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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AGs Come Together to Create Anti-Robocall Task Force

Account Recovery

It is rare to get all 50 state attorneys general to agree on anything, so the fact that they are all coming together to create a task force aimed at investigating and taking legal action against telecommunication companies responsible for robocalls should be all the context you need to understand just how fed up people … The post AGs Come Together to Create Anti-Robocall Task Force appeared first on AccountsRecovery.net.

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CFPB Prioritizing Enforcement Over Education

Troutman Sanders

On August 4, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra spoke at the Philadelphia Federal Reserve Bank’s Sixth Annual Fintech Conference , arguing that enforcement actions rather than financial literacy efforts were necessary to prevent consumer abuse. Chopra said that while there is value in educating consumers to spot risks and find trustworthy advice, financial products are inherently challenging to understand.

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After a Fall, Crypto Winter Sets In

Nerd Wallet

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. In the first half of 2022, the price of every major cryptocurrency dropped. Now, a handful of crypto-related companies.

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District of Connecticut Rejects ATDS Allegations in Complaint Against Subway

TCPA

The District of Connecticut recently dismissed a TCPA action against the Subway Franchisee Advertising Fund Trust (“Subway”) because plaintiff failed to allege that Subway used an ATDS to send text messages to her cell phone. Soliman v.

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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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Daily Digest – August 4. Getting to Know Mark Reinhard of Concepts2Code; Appeals Court Denies En Banc Request in TCPA Case

Account Recovery

GETTING TO KNOW MARK REINHARD OF CONCEPTS2CODE My kids loved the movie, “Robots.” While the movie is about chasing your dreams, no matter how big or far away they might be, there is a line from that movie that I will always remember — “See a need, fill a need.” In the accounts receivable management … The post Daily Digest – August 4. Getting to Know Mark Reinhard of Concepts2Code; Appeals Court Denies En Banc Request in TCPA Case appeared first on AccountsRecovery.net.

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Rules of the Road: Siting of Small Wireless Facilities in the Public Rights-of-Way by Greg Meese and Ed Purcell

Price Meese

Rules of the Road: Siting of Small Wireless Facilities in the Public Rights-of-Way. Two recently decided cases shed light on FCC regulations and provide a summary of the new rules of the road in this area of law. By Gregory D. Meese and Edward W. Purcell. Ever since the erection of the first cell towers in the 1980s, the public has asked the wireless industry why antennas could not be placed on utility poles, rather than the taller, more obtrusive monopoles.

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What Equifax’s Credit Score Miscalculations Mean for Consumers

Nerd Wallet

Equifax, one of the three major credit bureaus, announced that a computer coding error resulted in the miscalculation of credit scores for consumers in a three-week period between March 17 and April 6. For 300,000 consumers, the error shifted credit scores as much as 25 points. The changes to credit scores did not show up. Amanda Barroso writes for NerdWallet.

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Businesses must act to collect unpaid invoices as UK recession looms

UK debt collections

Businesses are being urged to take action to collect unpaid invoices as a new UK recession in on the horizon. The latest setback fro the UK economy has been touted as the “final straw” for thousands of small businesses across the country. Rises in the late payment of invoices is stirring up a potential t idal wave of Small Business insolvencies.

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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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State AGs Call on Administration to Extend PSLF Forgiveness Waiver

Account Recovery

A group of nearly two dozen state Attorneys General have written a letter to President Biden and Education Secretary Miguel Cardona, asking them to extend the deadline for individuals to file claims under the Public Service Loan Forgiveness (PSLF) program, arguing that too many eligible candidates are still unaware or confused by the waiver. A … The post State AGs Call on Administration to Extend PSLF Forgiveness Waiver appeared first on AccountsRecovery.net.

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According to Banking Industry Groups, CFPB Should Supervise Data Aggregators

Troutman Sanders

Eight national banking trade groups — the American Bankers Association, Consumer Bankers Association, Credit Union National Association, Housing Policy Council, Independent Community Bankers of America, National Association of Federally-Insured Credit Unions, National Bankers Association, and The Clearing House Association — petitioned the Consumer Financial Protection Bureau (CFPB) to extend its supervision to “data aggregators.

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Smart Money Podcast: Answering Kids’ Money Questions

Nerd Wallet

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode we take on money questions from two kids, Ellington and Langston, who want to know where money comes from, where it goes after you spend it and how to decide how much you need to save. Check out this. Andy Rosen writes for NerdWallet. Email: arosen@nerdwallet.com.

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Profit Center: How to Feel More Confident About New Hires

NCBA Law Practice Management Blog

Especially in the current job market, it’s important not to overextend yourself in hiring for new attorneys or staffpersons. But, since lawyers aren’t very good with math or data, hiring often becomes a real ad hoc adventure. Most attorneys hire like they do everything else = they guess about what they can afford, and what they can take on. That, however, can be dangerous, when it comes to hiring, because law firms can overpay (and waste money) or underpay (and risk losing a candidate , or good

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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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Daily Digest – August 3. Judge Dismisses Case Claiming Reg F Violation; AGs Create Anti-Robocall Task Force

Account Recovery

JUDGE DISMISSES CASE CLAIMING REG F VIOLATION FOR LACK OF STANDING In a case involving a claim that a defendant violated one of the provisions of Regulation F, a District Court judge in New York has dismissed a Fair Debt Collection Practices Act case, ruling the plaintiff lacked standing to sue after receiving a letter … The post Daily Digest – August 3.

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Military Lending Act and Servicemembers Civil Relief Act Overview

Troutman Sanders

Please join Consumer Financial Services Partner Chris Willis and his guest and fellow Partner Tony Kaye for this latest podcast episode as they discuss the Military Lending Act and the Servicemembers Civil Relief Act, including the differences between the two, their state analogues, and several key issues in the consumer finance industry surrounding servicemembers.

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$6 Billion in Relief to Defrauded Students Signals Change Ahead

Nerd Wallet

More than 200,000 federal student loan borrowers who were misled by their schools are in line for $6 billion worth of debt relief as a result of a preliminary settlement approved by court order on Aug. 4. It’s a whopper of a settlement and a big win for borrowers. But these discharges are only the. Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com.

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Fraud Ideas from FICO World 2022 – and Excitement for 2023!

Fico Collections

Home. Blog. FICO. Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. FICO. Tue, 07/02/2019 - 02:45. by TJ Horan. expand_less Back To Top. Wed, 08/03/2022 - 12:40. It’s summer, and for most of San Diego, this year that means visiting “Top Gun” film locations or heading to one of our city’s amazing beaches.

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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.