Account Recovery

DECEMBER 10, 2024

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Performant Recovery, Inc., a debt collection agency accused of delaying student loan rehabilitations to increase fees. Performants practices, which cost individual borrowers thousands of dollars, have resulted in a $700,000 penalty and a ban on the company from servicing or collecting any student loan debt.

Student loans 130

Student loans Student Loans Loans Collections Agency 130

Consumer Finance

DECEMBER 8, 2024

The CFPB launched a rulemaking to address the harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse.

120

120

True Accord

DECEMBER 11, 2024

Its that time of year againthe season of giving, which has landed nearly half (47%) of consumers in debt thanks to holiday spending in the past. And the struggle continues to be real for consumers with 68% reporting that inflation is stretching their holiday budgets thin and 89% of consumers reporting they feel tempted to spend more than they should.

Collections 52

Collections Credit Card Debt 52

Hudson Weir

DECEMBER 10, 2024

Cash flow is key to the running of business operations, so unpaid customer invoices can create significant challenges There are several ways to recover the debt and with that in mind, you may be wondering what is a charging order and can it help? According to a survey from Capital on Tap reported by On The Tools , businesses in the UK are due 7.4bn in overdue invoices.

Creditors 52

Creditors Debtor Debt Recovery Legal Rights 52

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Account Recovery

DECEMBER 10, 2024

A District Court judge in Washington has given final approval to a $5.6 million settlement in a data breach lawsuit against Receivables Performance Management, a Washington-based collection agency, which compromised the personal information of over 3.7 million individuals. The breach, which occurred in April 2021, involved a ransomware attack on the companys servers.

Collections Agency 130

Collections Agency Collection Agencies Collections 130

American Profit Recovery

DECEMBER 11, 2024

We see it all too often. Businesses have a pile of outstanding invoices. They are not getting paid, and the business waits far too long to get serious about getting those customers to keep up with their payments. Maybe they dont have the systems in place to get late customers to pay or they may not want to upset their customers by implementing collection activity.

130

130

Account Recovery

DECEMBER 11, 2024

The Consumer Financial Protection Bureau has initiated a rulemaking process related to the Fair Credit Reporting Act aimed at protecting survivors of domestic violence, elder abuse, and financial coercion from the long-lasting financial harm of coerced debt. Driving the news: Earlier this week, the CFPB announced an advance notice of proposed rulemaking (ANPR) to amend the FCRA.

130

130

Account Recovery

DECEMBER 10, 2024

EDITORS 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? Call (855) WEB-RECON or email admin@webrecon.net today!

Fair Debt Collection 130

Fair Debt Collection Collections 130

Account Recovery

DECEMBER 11, 2024

A District Court Judge in Ohio has granted a defendant’s motion for judgment on the pleadings — albeit on a technicality — in a Fair Debt Collection Practices Act (FDCPA) case that accused the defendant of sending a text message attempting to collect on a debt after the plaintiff had responded to an earlier text message declining to pay the debt.

Fair Debt Collection 130

Fair Debt Collection Judgment Collection Companies Collections 130

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

Banks

Account Recovery

DECEMBER 9, 2024

The Consumer Financial Protection Bureau on Friday announced it had filed a lawsuit against Comerica Bank, accusing it of systematically harming three million Direct Express cardholders, many of whom rely on Social Security and other federal benefits. Comerica is alleged to have deliberately disconnected more than 24 million customer service calls, charged illegal ATM fees to more than one million cardholders, and mishandled fraud claims.

Banks 130

Banks 130

Account Recovery

DECEMBER 9, 2024

The Court of Appeals for the Second Circuit has affirmed a ruling in favor of the defendant in a Fair Credit Reporting Act case, ruling that the plaintiff failed to demonstrate a concrete injury as required to establish standing in federal court. The background: The case stemmed from the plaintiffs long-standing dispute with the defendant, a credit reporting agency.

130

130

Account Recovery

DECEMBER 10, 2024

InDebted, the global partner in collections solutions for future-thinking organizations, today announced the acquisition of Receeve, a leading collections decisioning software provider. As financial institutions seek modern alternatives to outdated collection methods, this strategic acquisition enables InDebted to service the entire collections lifecycle from pre-delinquency through to resolution, with Receeve optimizng internal debt collection strategies through data analytics and machine lear

Acquisition 130

Acquisition Financial Institution Collections Collections Agency 130

Account Recovery

DECEMBER 11, 2024

The Federal Communications Commission yesterday announced it was putting 2,411 voice service providers on notice for failing to comply with the agency’s Robocall Mitigation Database (RMD) requirements. These providers now face removal from the database, effectively barring them from transmitting calls through U.S. phone networks. This is the largest such action taken by the FCC.

130

130

Advertisement

Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.

Collection Agencies

Account Recovery

DECEMBER 11, 2024

Judge Grants MJOP in FDCPA Case Over Text Message Sent After Cease Request FCC Threatens to Block 2,400 Voice Providers for Failure to Comply CFPB Targets Coerced Debt in FCRA Overhaul 25 Companies Seeking Collection Talent State Donates $32,000 to Family Promise of Beloit Shelter WORTH NOTING: Another list of the best movies and TV shows of 2024 … Experts weigh in on the OMAD fad of eating only once per day … The cities and metropolitan areas that will be the hottest housing markets

Collections 130

Collections 130

Account Recovery

DECEMBER 11, 2024

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. This is merely meant to be a service to aggregate industry job opportunities into one convenient location.

Accounts Receivables Management 130

Accounts Receivables Management Collections 130

Account Recovery

DECEMBER 11, 2024

State recently presented a check for $32,000 to Family Promise of Greater Beloit, a homeless shelter serving families. The funds were raised by State’s leadership team and vendors at State’s Annual Charity Golf Outing. “As a local employer located in the former Eclipse Center, we want to help the entire Beloit community thrive,” said Tim Haag, State’s president and chief executive officer. “We value the important work by Family Promise in preventing and resolv

Healthcare 130

Healthcare Collections 130

Account Recovery

DECEMBER 10, 2024

Even with near-universal Medicare coverage, older adults in the U.S. face substantial financial barriers to accessing necessary medical care. A new Commonwealth Fund survey highlights the growing strain of medical debt on this demographic, with implications for health outcomes and debt collection trends. By the numbers: The big picture: While Medicare Advantage plans offer some cost caps and expanded coverage for services like vision and dental, affordability gaps persist.

Healthcare 130

Healthcare Debt collector Collections 130

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.

Account Recovery

DECEMBER 10, 2024

Plaintiff Seeks $30k in FDCPA Suit Collector Settles Data Breach Lawsuit for $5.6 Million Performant Recovery Penalized $700,000 for Delayed Loan Relief Scheme Older Americans Struggle with Medical Debt Amid High Out-of-Pocket Costs InDebted Announces Acquisition of Receeve to Transform Enterprise Collections Market WORTH NOTING: The best Lego sets for kids … Vehicles with taller front ends are, perhaps not surprisingly, more dangerous for pedestrians … What those mysterious sounds m

Acquisition 130

Acquisition Loans Collections 130

Account Recovery

DECEMBER 9, 2024

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management Turnkey Speech Analytics. And Our New BLG360 Program Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

Foreclosure 130

Foreclosure Collateral Fair Debt Collection Law Firms 130

Account Recovery

DECEMBER 9, 2024

Chopra Makes First Public Comments Since Calls to Delete CFPB Appeals Court Affirms Ruling for Defendant in FCRA Case CFPB Sues Bank, Alleges it Disconnected 24 Million Calls Compliance Digest December 9 WORTH NOTING: The best classical albums of 2024 … Advice from the TSA if you are flying with Christmas gifts during the holiday season … A lot of people feel pressured to spend money on gifts during the holidays and the most common culprit is family … How to avoid pickpockets

Banks 130

Banks 130

Account Recovery

DECEMBER 9, 2024

Rohit Chopra made his first public comments about Elon Musk’s call to “delete” the Consumer Financial Protection Bureau this weekend, while a published report in The New York Times said that the Bureau is “likely here to stay. Chopra also addressed his future at the CFPB, which is likely to end when President Trump takes office in January. “I don’t even know what it means,” Chopra said during a televised interview on MSNBC. “When you say you’

Financial Institution 130

Financial Institution Financial services Government 130

Speaker: Genevieve Hancock, CPA

Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?

Financial services