Tue.Jan 21, 2025

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AI, Automation, and Innovation: The Future of Collection in 2025

Account Recovery

The credit and collection industry is facing a rapidly evolving landscape shaped by digital transformation, economic shifts, and regulatory changes. As 2025 progresses, understanding these trends can help industry professionals optimize their strategies and stay ahead of the curve. 1. The Rise of the Orchestration Economy The big picture: The debt collection industry is witnessing a shift from fragmented, app-based ecosystems to integrated orchestration platforms.

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Q4 Industry Insights: Looking Good on Paper, Feeling Bad in Wallets, Everyone’s Uncertain on Financial Outlook

True Accord

Looking at key economic indicatorsGDP growth, consumer spending, softening inflation and a healthy job marketit would be easy to deduce that consumers in America are faring well. But digging deeper reveals unwieldy debt, expected rises in charge-offs and uncertainty around future economic conditions, painting a less rosy picture of the financial situation.

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Collector Facing FDCPA Lawsuit After Sending Letter to Collect on Fraudulent Debt

Account Recovery

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!

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Surgeon General’s Final Push: Alcohol Labels and Navigating Legal and Political Challenges

Jimerson Firm

As the Surgeon General concludes his tenure, Vivek Murthys advisory on the relationship between alcohol and cancer has sparked a national conversation. Released on January 3, 2025, the advisory emphasizes the scientific link between alcohol consumption and increased cancer risk for several types of cancer, including breast, liver, and throat cancers.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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CFPB Orders Honda Finance to Pay $12.8M for Credit Reporting Violations

Account Recovery

In the run-up to the end of the Biden Administration last week, the Consumer Financial Protection Bureau announced an enforcement action with American Honda Finance Corp. that will see the auto finance giant pay $12.8 million in penalties and consumer redress for inaccurately reporting information to credit reporting agencies, impacting 300,000 consumers.

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Trump Institutes Regulatory Freeze on Day One in Office

Account Recovery

On his first day in office, President Trump hit the pause button on a number of fronts, including issuing executive orders implementing a hiring freeze within the federal government and a freeze on issuing new regulations, among others. The freeze on new regulations is designed to put a stop to any orders that were issued while President Biden was in office, including rules that were sent to the Federal Register but have not yet been published and any released rules that have been issued but are