Account Recovery

OCTOBER 11, 2024

The credit and collection sector could be next. Why it matters: As collection agencies, debt buyers, fintechs, banks, and credit unions seek to improve consumer engagement, LLMs offer a potential solution for more natural and effective communication. What’s next: Just as LLMs in AVs operate within certain parameters (e.g.,

Credit Unions 130

Credit Unions Credit Unions Collections Fair Debt Collection 130

Account Recovery

OCTOBER 10, 2024

A District Court judge in Virginia has dismissed the majority of claims against several defendants in a Fair Debt Collection Practices Act class-action lawsuit, but allowed one key claim against a collection agency to proceed. Bank National Association. Learn more.

Student loans 246

Student loans Student Loans Fair Debt Collection Collection Agencies 246

Account Recovery

NOVEMBER 16, 2021

Judge Denies Plaintiff’s Motion to Remand FDCPA Case; Bank Settles Collection Call Lawsuit For $3.5M appeared first on AccountsRecovery.net.

Banks 240

Banks Fair Debt Collection Debt collector Collections 240

Account Recovery

DECEMBER 19, 2022

The Office of the Comptroller of the Currency, in conjunction with the Federal Financial Institutions Examination Council, on Thursday released revised procedures for how its examiners will examine financial institutions for their compliance with the Fair Debt Collection Practices Act, incorporating the changes from Regulation F into their review.

Banks 244

Banks Financial Institution Fair Debt Collection Collections 244

Account Recovery

FEBRUARY 24, 2022

… The post Banking Groups File Brief in Appeals Court Case over FDCPA Convenience Fees appeared first on AccountsRecovery.net. … The post Banking Groups File Brief in Appeals Court Case over FDCPA Convenience Fees appeared first on AccountsRecovery.net.

Banks 245

Banks Fair Debt Collection Debt collector Trade 245

Account Recovery

MAY 13, 2022

A collection agency’s involvement in a federal pay-to-play scandal has cost it an additional $25,000 after entering into a consent order with the Massachusetts Division of Banks. Division of Banks Fines Collector $25k for Role in Pay-to-Play Scandal appeared first on AccountsRecovery.net.

Banks 246

Banks Collection Agencies Collections Agency Collections 246

Account Recovery

DECEMBER 12, 2022

The Connecticut Department of Banking has fined a collection law firm $100,000 — the maximum amount allowed by law — and ordered it to cease and desist from collecting in the state without a valid license. A copy of the enforcement order against the Law Offices of David M.

Law Firms 240

Law Firms Collections Banks 240

Account Recovery

DECEMBER 8, 2021

Receeve, a German collection and recovery platform that is currently focusing on the European and South American markets, announced that it has secured ABN Amro — the third-largest bank in the Netherlands not only as a client, but also an investor, part of a $16 million investment round.

Collections 244

Collections Banks 244

Account Recovery

AUGUST 6, 2021

A District Court judge in Wisconsin has granted a defendant’s motion for partial summary judgment in a Fair Debt Collection Practices Act and Wisconsin Consumer Act case that accused the defendant of misrepresenting the level of attorney involvement and accelerating the debt and filing suit against the plaintiff without first giving him a right (..)

Banks 246

Banks Fair Debt Collection Judgment Collections 246

Account Recovery

OCTOBER 26, 2021

The Connecticut Department of Banking has reached a settlement with a creditor that was using a different name under which to collect unpaid debts for not having a collection license that will see the company pay a fine of $10,000 and stop collecting debts in the state unless it is using the “true name of … The post Creditor Fined $10k (..)

Creditors 246

Creditors Collections Banks 246

Account Recovery

FEBRUARY 6, 2025

Getting to Know Bridget Thede of Simplicated Debt Buyer Files Motion for Sanctions in FCRA Case, Accuses Plaintiff of Doctoring Bank Statements Indiana Senate Committee Considers Bill to Reform Medical Debt Collection FCC Proposes $4.5M

Banks 130

Banks Financial Institution Collections 130

Account Recovery

SEPTEMBER 14, 2020

A Danish bank is finding itself in hot water today after admitting it had known “for years” that technology problems with its systems were causing it to collect outdated or excessive amounts from its customers and never did anything to address the problem.

Banks 147

Banks Collections 147

Account Recovery

JULY 27, 2021

A collection agency has agreed to pay a $10,000 fine as well as nearly $3,000 in back licensing fees in a consent order entered into with the Connecticut Department of Banking after the agency was alleged to have operated in the state for seven years without the proper license. A copy of the consent order … The post Conn.

Collections 246

Collections Collection Agencies Collections Agency Banks 246

Account Recovery

SEPTEMBER 1, 2021

The Connecticut Department of Banking has fined a debt collector for collecting interest in violation of state law on one account during a 15-year period, in the latest in a series of enforcement actions taken against companies in the accounts receivable management industry.

Accounts Receivables Management 246

Accounts Receivables Management Collections Debt collector Banks 246

Account Recovery

MARCH 16, 2021

The Federal Trade Commission yesterday announced settlements in a pair of cases it brought under Operation Corrupt Collector, where each of the defendants have agreed to lifetime bans from working in the collection industry and will turn over all the money in their bank accounts to satisfy more than $27 million in judgments that were … The post (..)

Collections 242

Collections Trade Judgment Banks 242

Account Recovery

FEBRUARY 8, 2022

A group of six Democrats on the Senate Banking Committee, including Chairman Sen. Sherrod Brown [D-Ohio] and Sen. Elizabeth Warren [D-Mass.] Elizabeth Warren [D-Mass.]

Credit Card Collections 246

Credit Card Collections Collections Banks 246

Account Recovery

SEPTEMBER 22, 2020

An individual has filed a Telephone Consumer Protection Act lawsuit, claiming she received more than 130 debt collection calls from a defendant allegedly using an automated telephone dialing system after revoking consent to be contacted. A copy of the complaint in the case of Hammond v.

Collections 246

Collections Banks 246

Account Recovery

AUGUST 27, 2021

The individuals … The post Alleged $150M Payment Processing Scheme Included Debt Collection Transactions: Prosecutors appeared first on AccountsRecovery.net.

Collections 246

Collections Debt collector Banks 246

Account Recovery

FEBRUARY 20, 2025

New York Attorney General Letitia James last week released a comprehensive guide to help residents protect their bank accounts from garnishments and seizures. The EIPA law, enacted in 2008, automatically exempts a certain amount of money in a consumer’s bank account from being frozen or seized.

Debt collector 130

Debt collector Garnishment Banks Financial services 130

Account Recovery

DECEMBER 16, 2022

The post Judge Grants Judgment for Defendant in FDCPA Case Over Garnishment from Joint Bank Account appeared first on AccountsRecovery.net. The post Judge Grants Judgment for Defendant in FDCPA Case Over Garnishment from Joint Bank Account appeared first on AccountsRecovery.net.

Garnishment 189

Garnishment Judgment Banks Fair Debt Collection 189

Account Recovery

JANUARY 9, 2025

A District Court judge in Illinois has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling the plaintiff lacked standing after alleging violations related to a disputed debt originating from identity theft.

Fair Debt Collection 130

Fair Debt Collection Retail Banks Collections 130

American Profit Recovery

SEPTEMBER 8, 2022

By Delaney: One thing I did not consider when applying as a Collections Specialist is just how many ‘hats’ I’d come to wear in this role. We work with a variety of clients – dental offices, lawncare services, banks, veterinarians, restoration companies, and medical laboratories – just to name a few.

Collections 231

Collections Construction Banks 231

Account Recovery

FEBRUARY 5, 2025

📊 What to watch: With ongoing economic uncertainty, debt collection agencies, banks, and fintech lenders should closely monitor bankruptcy trends to assess portfolio risk and adjust collection strategies accordingly. Learn more.

Bankruptcy 165

Bankruptcy Collection Agencies Collections Agency Lender 165

Account Recovery

JANUARY 13, 2021

Judge Approves $40k Settlement in FDCPA Class Action; New Senate Banking Chair Lays Out Agenda appeared first on AccountsRecovery.net.

Banks 204

Banks Fair Debt Collection Collections 204

Account Recovery

APRIL 21, 2025

A recent report from Bank of America highlights key spending trends, offering valuable insights for businesses looking to tailor their debt collection and customer engagement strategies. Despite economic uncertainty and rising prices, consumers across the U.S. In short: The U.S. consumer is adjusting but not retracting.

Banks 130

Banks Collections 130

Account Recovery

MAY 5, 2023

Call … The post Bank Accused in FDCPA Class Action of Using Straw Law Firm to Collect on Debt first appeared on AccountsRecovery.net. The post Bank Accused in FDCPA Class Action of Using Straw Law Firm to Collect on Debt appeared first on AccountsRecovery.net. Want to learn more?

Law Firms 130

Law Firms Banks Collections 130

Account Recovery

MARCH 27, 2025

A District Court judge in New York has denied motions for summary judgment filed by the plaintiff and the defendant in a Fair Debt Collection Practices Act case over the garnishment of a bank account that may have included funds that were exempt seeking to pay a rental debt from more than two decades ago. […]

Garnishment 147

Garnishment Fair Debt Collection Judgment Banks 147

Account Recovery

JANUARY 24, 2024

Judge Denies Motion for Reconsideration in FDCPA Case Over Bank Levy Healthcare Providers Most Concerned with Timely Collections: Survey California DMV Facing RFDCPA Class Action 20 Companies Looking for Collection Talent WORTH NOTING: For all of you road warriors — the best carry-on luggage … Five takeaways from last night’s New (..)

Healthcare 147

Healthcare Banks Collections 147

Account Recovery

JANUARY 13, 2021

The change in control of the Senate means that there will be a new Sherrod in town in charge of the committee that most directly deals with debt collections, and Sen. Sherrod Brown [D-Ohio], the new chairman of the Senate Banking Committee, met with reporters yesterday to outline his agenda for the coming Congressional session.

Banks 147

Banks Collections Financial services 147

Account Recovery

APRIL 17, 2025

The Bureaus new emphasis on tangible consumer harm, while deprioritizing areas such as medical debt and digital payments, signals a shift in enforcement priorities that may influence the regulatory landscape for many companies in the credit and collection industry.

Credit Unions 130

Credit Unions Credit Unions Financial Institution Collection Agencies 130

Account Recovery

JULY 16, 2024

Bank, Collection Law Firm Facing FDCPA Class Action Over Reviving Dormant Judgments Judge Denies MSJ For Defendant in FCRA, FDCPA Case Over Disputed Debt More Americans Living Paycheck to Paycheck: Survey A Summary of Comments on Medical Debt Credit Reporting Proposal WORTH NOTING: The best Prime Day deals available so far … The best video […] (..)

Law Firms 130

Law Firms Judgment Banks Collections 130

Account Recovery

JUNE 2, 2021

A District Court judge in North Carolina has granted a defendant’s motion for summary judgment in a Telephone Consumer Protection Act case after it was sued for allegedly placing “several” hundred calls to the plaintiff’s cell phone in an effort to attempt to collect a debt, ruling that the technology used by the defendant did (..)

Collections 246

Collections Judgment Banks 246

Account Recovery

NOVEMBER 5, 2024

The Federal Trade Commission has filed a lawsuit and received a temporary restraining order freezing the assets and taking control over a Georgia-based debt collection agency, Global Circulation, Inc., after it was accused of using deceptive and abusive tactics to collect debts from consumers. The defendants, Global Circulation, Inc.,

Debt collector 130

Debt collector Fair Debt Collection Collection Agencies Collections Agency 130

Account Recovery

JANUARY 24, 2024

is taken from his bank account to satisfy a judgment of approximately $12,000, even if the defendant attempted to collect more than it was entitled to? Does a plaintiff suffer an injury when $278.75

Banks 147

Banks Judgment Collections 147

Account Recovery

DECEMBER 26, 2024

Exemption laws, which protect a debtors income and assets in the event of a judgment or collection lawsuit are in the spotlight following the release of an annual report from the National Consumer Law Center, which attempts to shed light on what the advocacy group perceives to be the inadequacies of these protections.

Debtor 130

Debtor Judgment Banks Collections 130

American Profit Recovery

MARCH 1, 2023

Communication is your best strategy with debt collectors Never hesitate to pick up the phone when a collection agency calls. Having that first phone call with a debt collection professional can lay the groundwork for having one less thing to worry about and eventually paying off your financial obligations.

Collection Agencies 200

Collection Agencies Collections Agency Debt collector Collections 200

Account Recovery

NOVEMBER 30, 2021

The Connecticut Department of Banking has ordered a collection agency to refund all charges, fees, and amounts received from consumers in the state for the past five years while also announcing a hearing has been scheduled to revoke and refuse to renew a license for the company to collect in the state and possibly impose … The post Conn.

Collection Agencies 246

Collection Agencies Collections Agency Banks Collections 246