Account Recovery

FEBRUARY 22, 2024

I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support.

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Account Recovery

DECEMBER 16, 2024

Proposed amendments to New York Citys rules governing debt collection have drawn significant scrutiny from trade groups outside the collection industry, most notably the American Financial Services Association (AFSA), which submitted a comment letter last week regarding the proposed amendments.

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Account Recovery

DECEMBER 29, 2022

The New York Department of Financial Services yesterday issued its long-awaited debt collection rule amendments, which are scheduled to take effect in 180 days, in late June 2023. The post NY DFS Releases Amended Debt Collection Rules appeared first on AccountsRecovery.net.

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Collections Financial services 245

Account Recovery

APRIL 20, 2021

The House Financial Services Committee will be marking up a series of bills today, including one that was introduced last week by Rep. 2547, The Comprehensive Debt Collection Improvement Act. Among … The post House Committee to Mark Up Collection Bills Today appeared first on AccountsRecovery.net.

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Account Recovery

APRIL 14, 2022

The Attorney General of Massachusetts has reached a settlement approaching $1 million with a finance company accused of engaging in illegal collection practices while attempting to collect on leases used to purchase pet dogs, which is also illegal in Massachusetts.

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Collections Financial services 246

Account Recovery

MAY 8, 2023

Conversational Voice AI Leader enables LTD Financial Services, L.P.’s LTD), a Texas-based collection … The post LTD Financial Services, L.P.; to Accelerate Revenue Recovery and Improve Collection Efficiency first appeared on AccountsRecovery.net. (LTD), The post LTD Financial Services, L.P.;

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Account Recovery

NOVEMBER 2, 2021

The New York Department of Financial Services has issued a series of amendments to its debt collection rules for third-party debt collectors and debt buyers that could change how consumers are communicated with, including the information that must be provided after an initial communication is made.

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Third-party Debt Collectors Collections Debt collector Financial services 245

Account Recovery

JANUARY 29, 2025

Andersen’s illustrious career spans over three decades, during which she established herself as a leading authority on compliance within the collections, debt purchasing, and financial services industries. Rozanne built her career on advancing the interests of the debt collection industry like no other, said John H.

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Account Recovery

AUGUST 10, 2021

A class-action lawsuit has been filed against Harley-Davidson Financial Services, accusing the lender of violating the Telephone Consumer Protection Act and the Illinois Consumer Fraud and Deceptive Business Practices Act because it allegedly contacted the plaintiff on her cell phone after she had revoked consent to be contacted.

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Lender Financial services Collections 246

Account Recovery

FEBRUARY 7, 2025

LOS ANGELES CSS IMPACT, the leading provider of AI-driven debt collection financial ecosystem solutions, through its specialized division, ImpactAI Solutions, is thrilled to announce the launch of groundbreaking advancements within the IMPACT Enterprise Debt Collections Software Suite: the Interactive Voice AI Smart Collectors, Ava and Ivan.

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Account Recovery

MAY 31, 2022

The Florida Supreme Court has affirmed a lower court’s ruling holding that an individual subjected to debt collection activities for an injury covered by workers’ compensation can sue under the Florida Consumer Collection Practices Act instead of the state’s Department of Financial Services holding jurisdiction.

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Collections Financial services Consumer Collections 241

Account Recovery

APRIL 1, 2022

As part of its full-court push into fintech and financial services, Apple announced yesterday the creation of a new service that will lock the iPhones of individuals with unpaid debts and only allow them to be unlocked after a payment has been made.

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Collections Financial services 246

Account Recovery

FEBRUARY 14, 2022

Valentine’s Day, but it is also the last day to submit comments to the New York Department of Financial Services to let them know what you think of their proposed amendments to the state’s debt collection regulations.

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Account Recovery

MAY 31, 2022

The briefs have been filed and the Attorney General of California has submitted an amicus brief to the Court of Appeals for the Ninth Circuit in a case in which four District Attorneys are attempting to sue a financial services company accused of violating the Rosenthal Fair Debt Collection Practices Act and the company is … The post Calif.

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Banks Fair Debt Collection Collections Financial services 246

Account Recovery

NOVEMBER 2, 2021

NYDFS Proposes Debt Collection Rule Changes; Judge Grants MTD in FDCPA Case Over Credit Reporting Language appeared first on AccountsRecovery.net.

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Third-party Debt Collectors Debt collector Collections Financial services 246

Account Recovery

MAY 31, 2022

AG Backs DAs in Fight Over Illegal Collection Practices appeared first on AccountsRecovery.net. Supreme Court Rules in Workers’ Comp Case; Calif.

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Collections Financial services Consumer Collections 246

Account Recovery

SEPTEMBER 17, 2020

The New York Department of Financial Services has announced its first-ever regulatory action taken in enforcing the state’s debt collection regulation, accusing a collection law firm of not substantiating “hundreds” of debts within the 60-day required timeframe. A hearing has been scheduled for Jan.

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Law Firms Collections Financial services 211

Account Recovery

FEBRUARY 20, 2025

These protections also extend to retirement funds like 401(k)s and IRAs, ensuring that these vital sources of income are shielded from aggressive collection tactics. The OAG has made it clear that it is committed to holding banks and debt collectors accountable, reinforcing the importance of compliance within the financial services industry.

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Consumer Finance

JUNE 7, 2023

The Consumer Financial Protection Bureau (CFPB) took action against medical debt collector Phoenix Financial Services (Phoenix) for numerous debt collection and credit reporting violations.

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Financial services Debt collector Collections 103

PDC Flow

JANUARY 26, 2021

Here are just some of the many financial services podcasts available centering on accounts receivable , consumer finance and other aspects of business that can strengthen your skills and keep your company current. Financial Services and Fintech. Understanding financial services is essential for many aspects of business.

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Financial services Accounts Receivables Management Law Firms Collections 96

Account Recovery

JANUARY 30, 2025

[EDITOR’S NOTE: I fully acknowledge from the start that this really has nothing to do with collections. The credit and collection industry is undergoing a technological revolution and companies may feel like they are passengers on this ride, but that is definitely not the case.

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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 (..)

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Account Recovery

JANUARY 20, 2021

The California Department of Financial Protection and Innovation (DFPI) came out swinging yesterday with its first major action, issuing subpoenas to a dozen companies in the accounts receivable management industry, investigating consumer complaints about alleged unlawful, unfair, deceptive, or abusive collection practices.

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Accounts Receivables Management Collections Financial services Credit Management 246

Jimerson Firm

JULY 22, 2020

That trend holds true in the financial services industry, despite such lawsuits being more commonly associated with lower paid jobs. Below, we discuss three of the most common wage and hour issues that commonly arise in the financial services industry. Marketing, servicing or promoting the employer’s financial products.

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Financial services Law Firms Judgment Loans 94

PDC Flow

MARCH 2, 2021

New Debt Collection and Licensing Regulations. There have been several new debt collection regulations released in the past year. There are many new items to be familiar with from all levels of government from city and state-wide requirements to the CFPB’s new federal debt collection rule, Regulation F. Business Interruption.

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Financial services Collections Education Government 93

Account Recovery

FEBRUARY 13, 2025

LAS VEGAS — For anyone who has been in this industry for longer than it takes to drink a cup of coffee, you’ve no doubt heard some reference to how slow companies in credit and collections have been to adopting technology.

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Account Recovery

OCTOBER 11, 2024

The announcement comes after Ejudicate was found to have misled student borrowers and initiated arbitration proceedings without consent, raising concerns for those in the debt collection industry, particularly those collecting on unpaid student loans. Learn more.

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Account Recovery

APRIL 6, 2025

The Consumer Financial Protection Bureau has officially signaled it plans to rewrite its small business lending data collection rule, known as Section 1071, following major leadership changes earlier this year. Zoom out: The CFPBs pivot reflects the new leaderships broader reassessment of the agencys regulatory agenda.

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Financial Institution Trade Lender Financial services 100

True Accord

SEPTEMBER 23, 2020

Last week, Sheila Monroe, TrueAccord’s COO, was the featured guest on “Credit Eco To Go,” a consumer finance podcast hosted by Joann Needleman, a leading financial services attorney at Clark Hill. The theme was putting the “consumer” back into consumer financial services.

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Account Recovery

DECEMBER 20, 2021

technology-enabled provider of accounts receivable management (ARM) solutions, announced today it has completed its acquisition of EOS North America, a leading first- and third-party collection agency serving government, financial services, healthcare, telecom and utility clients in the United States and Canada.

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Acquisition Accounts Receivables Management Healthcare Collection Agencies 246

Account Recovery

JULY 16, 2021

Schenking has over 20 years of experience in the financial services industry. As Agency Relationship Manager, she will serve as a liaison between CAM and network collection … The post Financial and Compliance Professional Stephanie Schenking Joins Crown Asset Management Team appeared first on AccountsRecovery.net.

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Financial services Collections 240

Account Recovery

APRIL 8, 2025

Nasdaq: PRAA), a global leader inacquiring and collecting nonperforming loans, today announced that its Board of Directors has appointed President of PRA Group Europe Martin Sjolund to serve as President and Chief Executive Officer (CEO), effective June 17, 2025. PRA Group, Inc.(Nasdaq:

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Account Recovery

SEPTEMBER 19, 2024

The influence of these firms has transformed revenue cycle management (RCM), raising concerns about more aggressive debt collection practices and higher financial burdens on patients, according to a newly released report. Between the lines: Some private equity-owned RCM companies have been linked to more aggressive collection tactics.

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Account Recovery

FEBRUARY 5, 2025

This acquisition underscores Provanas commitment to expanding its leadership in the financial services sector and providing best-in-class solutions that help clients navigate regulatory complexities and thrive in a rapidly evolving industry. Learn more at Palinode.io.

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Financial Institution Acquisition Healthcare Financial services 130

Account Recovery

JANUARY 17, 2024

Colorado AG Fines Collector $500k for Collecting on Illegal Loans Judge Rules Maine FCRA Partially Preempted by Federal Law House Financial Services Committee Forms AI Working Group 20 Companies Seeking Collection Talent WORTH NOTING: It’s so cold in some parts of the country, that Teslas won’t charge … Etiquette experts on what to (..)

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Loans Collections Financial services 147

UK debt collections

OCTOBER 23, 2024

The value of bad debt suffered by small businesses has surged by a staggering 127 per cent in the last six months, according to a report by SME funder, Bibby Financial Services (BFS). Some Debt Collection Companies for Small Businesses have also seen a rise in enquiries for their services in line with the hike.

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Financial services Government Collection Companies Creditors 82

True Accord

OCTOBER 22, 2024

Read on for our take on what’s impacting consumer finances, how consumers are reacting and what else you should be considering as it relates to debt collection today. Along with taking action against more than a handful of financial services companies in the name of consumer protection, the agency made headway on myriad other issues.

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Student Loans Student loans Loans Retail 93