Account Recovery

OCTOBER 9, 2020

A District Court judge in Kansas has granted a motion for summary judgment in favor of a defendant that was accused of firing a collector because she was African-American, which underscores the importance of having documented policies and procedures and following them at all times.

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Judgment 246

Account Recovery

DECEMBER 1, 2020

The Consumer Financial Protection Bureau yesterday announced that it has finalized a program where it will offer advisory opinions — guidance, essentially — to help companies in the financial services industry receive clarity where there may be some uncertainty about how to comply with a certain rule.

Financial services 162

Financial services 162

Troutman Sanders

OCTOBER 12, 2023

Join Troutman Pepper Partners Chris Willis and Sheri Adler as they dive into the new requirement for publicly traded companies (including financial services companies) to adopt a clawback policy requiring the recoupment of erroneously awarded incentive compensation by December 1, 2023. Who must the policy cover?

Trade 52

Trade Financial services 52

Nerd Wallet

SEPTEMBER 5, 2022

When it comes to federal rules requiring U.S. However, each airline can outline its policies for handling these situations. The article 7 Things to Know About Delta’s Flight Delay Compensation Policy originally appeared on NerdWallet. Flight delays are common and they may happen when you least expect them.

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PDC Flow

FEBRUARY 29, 2024

Update Your Compliance Management System Most companies have some type of compliance management system that addresses the policies, procedures, and work instructions that must be followed. It is usually suggested that policies, procedures, and work instructions be updated as issues arise. Take this time to refresh current agents too.

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Collections Debt settlement Collection Agencies Collections Agency 96

Troutman Sanders

OCTOBER 24, 2023

New York City’s Department of Consumer and Worker Protection (NYC DCWP) recently released a notice of proposed amendments to its debt collection rules. Required policies must be maintained for six years “after the date the record was created.”

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Collections Debt collector Collection Agencies Collections Agency 52

PDC Flow

JANUARY 12, 2024

Courtney Reynaud , President and CEO of Creditors Bureau USA , has found success in her agency with careful attention to policies, procedures, and work instructions. A root cause analysis might find a rule so outdated it no longer applies. A root cause analysis might find a rule so outdated it no longer applies. Collect data 3.

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Collection Agencies Collections Agency Collections Education 70

True Accord

SEPTEMBER 8, 2022

Best Practices: When law and/or regulation is unclear, a “best practice” policy may be implemented to safeguard a business’s compliance. Compliance: The state of adhering to established guidelines or specifications such as a policy, standard, specification, or law. federal, state, local/municipal), and prevent consumer harm.

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Collections Fair Debt Collection Debt collector Government 91

Troutman Sanders

FEBRUARY 16, 2024

On February 13, the Federal Trade Commission (FTC) released a blog post warning companies that it could be deemed an unfair or deceptive practice for a company to adopt more permissive data practices and to only inform consumers of such changes through retroactive amendments to its terms of service or privacy policy.

Trade 52

Trade Collections 52

Burr Forman

NOVEMBER 4, 2021

The ETS becomes effective immediately and requires employers to establish, implement, and enforce an acceptable vaccination policy by December 5, 2021. Under the new rule, all employers with 100 or more employees at any time the ETS is in effect have two options: Implement and enforce a mandatory COVID-19 vaccination policy, or.

Healthcare 97

Healthcare 97

Jimerson Firm

JULY 1, 2020

When lenders take life insurance policies as collateral for loans, they need to be aware of what needs to occur to place a claim in the event their borrower dies. Florida courts have adopted the so-called “English” rule, which gives priority to the assignee who first notifies the obligor of the assignment.

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Collateral Loans Lender Secured Creditor 98

Jimerson Firm

AUGUST 4, 2021

How Does Florida’s New Summary Judgment Standard Benefit Insurers Who Seek to Enforce Policy Exclusions and Conditions Precedent? Insurance companies often draft policies with broad exclusions, limitations on coverage, and conditions precedent to litigation that are presented to insureds in contracts of adhesion. See Leben v.

Judgment 98

Judgment 98

Nexa Collect

AUGUST 29, 2020

However, these challenges can be met with strong, enforceable policies and consistent collection procedures. A good rule of thumb for dental offices is to keep AR from exceeding the practice’s average monthly income. Have a Written Payment Policy and Payment Plans in Place. The longer AR sits, the less recoverable it becomes.

Healthcare 130

Healthcare Collections Collection Agencies Collections Agency 130

Fraser

AUGUST 19, 2022

Insurance Agents Who Make a Material Error on Policy Application Now May be Liable after Michigan Court of Appeals Ruling. On August 4, 2022, the Michigan Court of Appeals ruled in Holman v. 357473, that an insurance agent who makes a material error on a policy application may be liable. Farm Bureau Gen. of Michigan, No.

Manufacturing 77

Manufacturing 77

Collection Industry News

OCTOBER 19, 2023

The plaintiffs are fighting taxes on earnings that weren’t distributed to them by arguing about the definition of income, which could have broader implications, according to policy experts. There’s also the potential for a “substantial impact” on federal revenue, which could influence future tax policy, Bunn said.

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Collections Government 40

Troutman Sanders

JANUARY 12, 2024

32 , respectively) disapproving the Consumer Financial Protection Bureau’s (CFPB or Bureau) implementation of the small business data collection and reporting final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule). The future of the Final Rule now lies with the courts.

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Lender Financial services Banks Collections 52

Nerd Wallet

JULY 6, 2022

Although you use your Medigap policy with Original Medicare, Medigap has its own rules for when and how you can sign up. Medicare Supplement Insurance, or Medigap, is health insurance that covers “gaps” in Medicare Part A and Part B coverage. The Medigap open enrollment period is the easiest and least expensive opportunity to enroll.

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Fraser

JULY 12, 2021

The NCAA recently announced an interim policy that allows student-athletes from all three divisions to monetize their name, image and likeness (often referred to as “NIL”). The new policy went into effect on July 1, 2021. What is Allowed Under the NCAA Interim Policy. What is Not Allowed Under the NCAA Interim Policy.

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Education 67

Fraser

MAY 4, 2021

Court of Appeals for the Sixth Circuit held that a university professor plausibly pled claims that his employer’s enforcement of its policy requiring employees to refer to students by their preferred pronouns violated his constitutional rights under the free speech and free exercise clauses of the First Amendment.

Education 75

Education 75

Nerd Wallet

AUGUST 20, 2021

When that happens, you’ll need to know the flight-change rules so you can take the next best step. Here are the carrier’s policies and how to change a United. It can happen to anyone: You book a United flight, then days or weeks or months later, something comes up and you need to change it. Natasha Gabrielle writes for NerdWallet.

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True Accord

JUNE 6, 2023

Where data has its own intrinsic value and where data breaches and cyberattacks are a risk for every business, the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA) provides financial institutions, including those in the accounts receivable management industry, with guidance on how to safeguard customer information.

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Financial Institution Credit Unions Credit Unions Accounts Receivables Management 71

Troutman Sanders

JANUARY 29, 2024

In its review, FINRA found various violations of its Rule 2210, which requires fair and balanced communications from broker-dealers to the public, including “potential substantive violations” in about 70% of the communications. Securities and Exchange Commission rules around custody and settlement.

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Retail Trade 52

Nerd Wallet

MAY 7, 2021

Before booking any travel ticket, it’s important to understand the refund rules and change and cancellation policies that are in place. This way, if your plans change or something unexpected happens, you’ll know if you’re able to get a full refund or get credit for a future trip. This helps avoid the awful feeling when.

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Nerd Wallet

DECEMBER 3, 2021

Medicare beneficiaries used 63 times more telehealth services in 2020 than in 2019 after the federal government loosened Medicare’s strict telehealth rules due to the COVID-19 pandemic, according to a report released Friday by the Department of Health and Human Services. Alex Rosenberg writes for NerdWallet.

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Government 84

Nerd Wallet

APRIL 29, 2022

With so many airline loyalty programs, it’s hard to keep track of all the rules and benefits. Rewards expiration policies vary from program to program, and it’s impossible to remember each one. Do your miles expire? If so, when? And how do you keep them from vanishing from your account? As a Delta Air Lines.

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Troutman Sanders

FEBRUARY 27, 2023

Department of Education (ED) released an announcement about updates that postsecondary institutions must make to their cybersecurity and data protection policies in order to comply with the Federal Trade Commission’s amended Standards for Safeguarding Customer Information (Safeguards Rule), a component of the Gramm-Leach-Bliley Act (GLBA).

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Education Financial Institution Financial services Trade 52

CICM

JUNE 9, 2023

What is a Credit Policy? A credit policy is a set of rules that businesses and organisations use to manage the extension of credit to customers and clients. A credit policy is put in place to minimise financial risks and ensure a healthy and stable cash flow for your business or organisation.

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Credit Management Collections Government 52

Troutman Sanders

NOVEMBER 21, 2023

On November 15, the CFPB’s Fair Credit Reporting Act (FCRA) Disclosures rule was published in the Federal Register. The CFPB’s rule amends an appendix for Regulation V, which implements the FCRA. Furthermore, the guidance mandates licensees to develop and submit a coin-delisting policy to DFS for approval.

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Financial services Retail Banks Collections 52

Payment Savvy

MAY 11, 2023

Visa has a set of rules and regulations that govern the use of its payment network, and these rules and regulations are subject to change from time to time. In this article, we will discuss the recent visa rule changes and how they impact you. Merchants who accept Visa payments must comply with the Visa merchant rules.

Financial Institution 52

Financial Institution Banks Government 52

Troutman Sanders

JULY 1, 2022

The Chamber’s campaign specifically objects to several alleged unlawful actions, including: CFPB Policy Fellowship. Revisions to CFPB Rules of Practice for Adjudication Proceedings. The CFPB Interpretative Rule Regarding State Attorneys General and the Consumer Financial Protection Act. Chamber of Commerce.

Financial services 52

Financial services Collections 52

Jimerson Firm

NOVEMBER 2, 2023

One of the primary distinctions is the forfeiture of certain rights in arbitration which is typically enjoyed during litigation, such as the right to a trial by jury and formal adherence to the rules of evidence. This trade-off is essential to consider when deciding between arbitration and traditional litigation.

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Trade Judgment 52

PBWT

AUGUST 29, 2022

A bankruptcy court ruled that a creditor didn’t need to seek derivative standing to sue a liquidating trustee. Rather the allegations are focused upon [the liquidating trustee’s] conduct in not preserving the insurance policy for the benefit of creditors.” In re Foods , Inc. 14-02689, Adv. ” Id. ” Id.

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Creditors Debtor Bankruptcy 65

Fraser

OCTOBER 28, 2022

——— Department of Labor Issues New Proposed Rule on Independent Contractors . ——— Michigan Court of Claims Rules in Prevailing Wage Policy Case. ——— State Court Administrative Office Proposes New Landlord-Tenant Rules. Learn more on the subject.

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Troutman Sanders

JULY 25, 2023

The Consumer Financial Protection Bureau (CFPB or Bureau) issued its proposed rule in 2021, and after considering the over 2,500 comments it received, on March 30, 2023, the CFPB issued the massive, highly technical, and complicated Final Rule. There was no comparable provision in the proposed rule.

Financial Institution 52

Financial Institution Lender Loans Collections 52

Troutman Sanders

OCTOBER 25, 2023

The proposed Personal Financial Data Rights Rule would require depository and nondepository entities to make available to consumers and authorized third parties certain data relating to consumers’ accounts, establish obligations for third parties accessing a consumer’s data, and provide basic standards for data access.

Banks 52

Banks Financial Institution Credit Unions Credit Unions 52

Troutman Sanders

MARCH 30, 2023

As promised (and discussed here ), the Consumer Financial Protection Bureau (CFPB) issued its final rule under Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule). The Final Rule requires lenders that originate at least 2,500 small business loans annually to collect data starting October 1, 2024.

Lender 52

Lender Loans Financial services Creditors 52

Jimerson Firm

APRIL 2, 2024

The settlement addresses concerns that NAR’s rules limited competition and hindered innovation in the real estate market. As part of the agreement, NAR will make significant changes to its rules and policies, including modifications to how property listings are displayed online and greater transparency in the homebuying process.

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Government 59