Account Recovery
MAY 9, 2024
A quartet of lawmakers, led by Sen. Bernie Sanders [I-Vt.] yesterday announced that they are introducing bills in the Senate and House of Representatives that would wipe out all existing medical debt and remove it from consumers’ credit reports, among other changes.
Enterprise Recovery
MAY 6, 2024
The tech industry is known for its rapid growth and innovation but faces unique challenges regarding debt collection and non-paying clients. Understanding the intricacies of debt collection in this sector is essential for companies to recover payments and maintain financial stability. Learn more about the complexities of debt collection within the tech industry and the strategies for successful payment recovery.
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Consumer Finance
MAY 6, 2024
Today, the Consumer Financial Protection Bureau (CFPB) took action against Chime Financial for failing to give consumers timely refunds when their accounts were closed.
Jimerson Firm
MAY 8, 2024
The ultimate test of a binding settlement agreement is whether the parties to the agreement have a “meeting of the minds,” which is a mutual understanding of the essential terms of the agreement. At least one court in Florida has now ruled emails between attorneys can constitute an enforceable settlement agreement if the parties’ counsel had clear and unequivocal authority from the client to settle the case and correspondence between the parties’ attorneys showed that no essential terms of
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.
Credit Corp
MAY 1, 2024
When getting your first credit card, consider factors such as the card’s annual fees, interest rates, rewards or benefits, and credit limit. Choose a card that aligns with your financial goals and spending habits, and make sure to understand the terms and conditions, including the consequences of late payments or carrying a balance. Additionally, aim to use the card responsibly to build positive credit history while avoiding overspending and accumulating debt.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
MAY 6, 2024
A bill has been introduced in the House of Representatives to amend the Fair Debt Collection Practices Act in order to include additional information when sending the validation notice while also expanding the requirements before filing collection lawsuits. What It Is: H.R.
True Accord
MAY 1, 2024
Telecom Industry Evolves, But Call-and-Collect Can’t Keep Up The telecommunications industry has evolved hand-in-hand with most consumer communication preferences throughout the decades. From the last remaining landlines to mobile and internet services, it’s challenging to find a consumer that doesn’t subscribe to a Telecom service. Yet while Telecoms enable customers to communicate and access products and services via digital channels wherever they go, the industry’s own methodology for communi
Consumer Finance
MAY 5, 2024
The Consumer Financial Protection Bureau (CFPB) today took action against National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency for multi-year servicing failures.
Prosperity Now
MAY 5, 2024
As we look back on April’s Second Chance Month, it is important to remember that every year, more than 600,000 people are released from prison and given a chance to build a new life. Discriminatory hiring practices and other barriers often present obstacles to securing stable employment.
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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.
Consumer Finance Watch
MAY 8, 2024
Financial institutions, credit furnishers, debt collectors, and other businesses reporting consumer information to credit reporting agencies should take note that the Eleventh Circuit Court of Appeals has declined to impose a bright-line rule that only purely factual or transcription errors are actionable under the Fair Credit Reporting Act (“FCRA”).
Direct Recovery
MAY 4, 2024
The best way to maximize your collection efforts is to minimize the number of collections you have in the first place, and reducing the number of accounts in collections starts with formatting your invoices. Invoices are the primary means of asking your customers to pay you for services rendered, but their effectiveness can vary dramatically depending on whether or not they include the following five essential elements.
Account Recovery
MAY 10, 2024
Suit Accuses Collector of Leaving Voicemail That Wasn’t Limited Content Message Judge Grants MTD in FDCPA Case Over Reported Debt Following Cease-and-Desist Profits Up 25% at Encore Capital NJ Appeals Court Affirms Ruling Over Motion to Vacate Default Judgment WORTH NOTING: Workers who left their jobs during the COVID-19 pandemic are starting to regret it […]
Payment Savvy
MAY 10, 2024
Plaid has rapidly become a common platform for seamlessly sharing your financial data with trusted apps and services. Whether you’re using a budgeting app, investing platform, or peer-to-peer payment solution, chances are you’ve encountered Plaid. This powerful technology bridges the gap between your bank accounts and various digital financial tools.
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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.
Consumer Finance
MAY 8, 2024
The CFPB issued a new report finding consumers encounter numerous problems with credit card rewards programs.
Jimerson Firm
MAY 2, 2024
Ipso Facto clauses are provisions in a contract providing that a party to the contract will be in default in the event of insolvency or due to the party’s financial condition. These provisions can cause headaches and heartburn, particularly when a party—or parties—are entering into bankruptcy proceedings. This blog will explain the limits of ipso facto clauses and why Florida courts decline to enforce them.
FFGN COLLECT NY
MAY 8, 2024
In April, following an investigation by Attorney General Leticia James’ office, Pathward (formerly known as MetaBank) was required to refund money to account holders after unlawfully sending frozen deposits to creditors. In addition to refunding the monies, the bank also had to pay penalties for the unlawful freezing of the bank accounts. Between 2016 and 2022, Pathward wrongfully froze 1,400 bank accounts belonging to New Yorkers.
Direct Recovery
MAY 4, 2024
Legend has it that Morgan Housel wrote a large chunk of the first draft of The Psychology of Money in the same format as every other financial advice book, but then he took a hard left turn and chucked that draft into the trash. Housel had spent a large portion of his life breaking down complex financial topics into short blog posts, so why should writing a book be any different?
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?
Account Recovery
MAY 10, 2024
A District Court judge in the District of Columbia has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case filed by a pro se plaintiff, ruling the plaintiff did not provide sufficient evidence in his complaint to state a claim.
Payment Savvy
MAY 10, 2024
Cart abandonment is a major issue faced by ecommerce businesses. With almost 7 out of 10 shoppers abandoning their carts, online businesses face an uphill task to increase sales and profits. While it’s nearly impossible to eliminate cart abandonment, there are steps to reduce it. This guide contains those steps – and much more! Below are 7 best practices on how to reduce cart abandonment, thus increasing sales and profit for your ecommerce business.
On Guard
MAY 7, 2024
Did you know that in 2023 we, at Onguard, sent 6.241 empty cans for recycling? Sustainability is not a sprint, it’s a marathon, and a difference comes with a few small steps every day. This is why we are excited to join Visma’s Sustainability Month this May, as an opportunity to reflect and record our specific actions for a more sustainable future. Running through the whole of May, the idea of Visma Sustainability Month is not only to review our corporate actions but also to spark discussion and
NCBA Law Practice Management Blog
MAY 5, 2024
Lots of small and solo law firms have staggering amounts of accounts receivable; and, even if those numbers are not sky high , for you – smaller amounts are still vexing. Accounts receivable end up counting against your profitability, because these reduce the amount of gross revenue you collect = the top line for your profit margin. So, the more you collect : the more you make.
Speaker: William Hord, Vice President of ERM Services
A well-defined change management process is critical to minimizing the impact that change has on your organization. Leveraging the data that your ERM program already contains is an effective way to help create and manage the overall change management process within your organization. Your ERM program generally assesses and maintains detailed information related to strategy, operations, and the remediation plans needed to mitigate the impact on the organization.
Consumer Finance
MAY 8, 2024
CFPB Director Rohit Chopra provided opening remarks at the Joint Hearing on Airline and Credit Card Rewards Programs.
Direct Recovery
MAY 4, 2024
There is a time in every business story when managing the accounts receivable becomes too big for the core team. Many companies hire a collection agency to handle their problematic or delinquent accounts when that happens. This can be a big help in alleviating some of the workload from your best people, allowing them to focus on what they do best. But if you aren’t careful and hire the wrong agency, it can also be a complete waste of time.
Account Recovery
MAY 9, 2024
Getting to Know Ryan Herber of Preferred Group of Tampa Bills Introduced in Congress to Cancel All Medical Debt Judge Grants MSJ For Defendant in FDCPA Case Over Reporting of Alleged Disputed Debt Fed Proposes Opening Payment Networks on Weekends WORTH NOTING: In honor of Mother’s Day, a bouquet of advice for new moms and […]
Payment Savvy
MAY 10, 2024
In the fast-paced world of e-commerce, where every click counts and every second matters, providing customers with a seamless checkout experience is absolutely necessary. One crucial aspect of achieving this goal is through the implementation of efficient and user-friendly checkout solutions. Enter Shop Pay – a game-changing checkout software developed by Shopify, designed to streamline the purchasing process and elevate the online shopping experience to new heights.
Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP
Did you know that 2021 was a record-breaking year for ransomware? The days of a “once in a while” attack against businesses and organizations are over. Cyberthreats have become a serious issue. With 495.1 million attacks, the threat marked a 148% increase compared to 2020 and was the most expensive year on record! As a result, data protection needs to be a concern for most banks, businesses, and information technology specialists.
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