Account Recovery
NOVEMBER 7, 2023
The Court of Appeals for the Eleventh Circuit yesterday overturned a lower court’s ruling that the Fair Credit Reporting Act and followed a number of other Appeals Courts in ruling that the Act does not require individuals demonstrate proof of actual damages in order to recover statutory damages.
Consumer Finance
NOVEMBER 7, 2023
Citi singled out for discrimination applicants for certain credit card products whom it suspected of being of Armenian descent.
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Account Recovery
NOVEMBER 7, 2023
EDITOR’S 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?
Prosperity Now
NOVEMBER 7, 2023
The Community Reinvestment Act (CRA), enacted in 1977, is a key piece of legislation meant to ensure that underserved communities get equitable access to credit. In late October, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule updating the regulations governing the CRA—the first such reform in over 25 years.
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
NOVEMBER 7, 2023
A District Court judge in Nevada has stayed an investigation by the Consumer Financial Protection Bureau into the a short-term small-dollar lender until the Supreme Court issues its ruling on whether the funding structure for the Bureau is constitutional or not.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
NOVEMBER 7, 2023
Here’s a shocker … removing medical debt tradelines from consumers’ credit reports has led to fewer consumers having medical debts on their credit reports and improved the credit scores of individuals who used to have medical debts on their credit reports, according to a published report. Who could have seen that coming?
Consumer Finance
NOVEMBER 7, 2023
The CFPB took action against Citi, one of the globe’s largest banks, for intentionally and systematically discriminating against Americans of Armenian descent.
Account Recovery
NOVEMBER 7, 2023
Omissions From Rep During Call with Consumer Lead to FDCPA Suit Appeals Court Reverses Ruling on FCRA Damages Changes to Medical Debt Credit Reporting Boosting Consumers’ Credit Scores by 30 Points: Report Judge Stays CFPB Investigation Pending Supreme Court Ruling WORTH NOTING: Word games and tai chi can have big impacts on your body and […]
PDC Flow
NOVEMBER 7, 2023
Most modern debt collection agencies are starting to use email for collection, or have it on the roadmap to implement soon. Consumers like the convenience of email and companies prefer advantages like: The cost savings of using email compared to traditional mail The possibility to reach consumers you otherwise wouldn’t Faster collection on accounts Even with the positive aspects of email for debt collection, one point of hesitation remains – sending validation notices.
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.
UK debt collections
NOVEMBER 7, 2023
Yorkshire based Doubled Glazing giant Safestyle is facing liquidation. Only last week, the company, which has its HQ in Bradford, announced administrators had been appointed. Around 680 of its workers were made redundant as a result of the firm going into administration. The company failed after facing a series of pressures, including runaway inflation and poor consumer confidence, administrators said.
Consumer Finance
NOVEMBER 7, 2023
The CFPB notes that there are a few things that routinely come up, especially related to ensuring that startups and new businesses can emerge, bring their services to market, and challenge incumbents.
TCPA
NOVEMBER 7, 2023
Last week, the Ninth Circuit in True Health Chiropractic, Inc. v. McKesson Corp. (True Health II), No. 22-15710 (9th Cir. Oct. 25, 2023), affirmed the Northern District of California’s earlier ruling in True Health Chiropractic Inc. v. McKesson Corp., 13-cv-02219 (N.D. Cal. Apr.
Burr Forman
NOVEMBER 7, 2023
The United States District Court for the Northern District of Georgia has recently ruled that a consumer cannot maintain a claim under the Georgia Fair Business Practices Act (GFBPA) where the claim arises out of a loan transaction that is subject to state and federal regulations. In Baughman v. Truist Bank , No. 123CV03199JPBJKL, 2023 WL 6940698 (N.D.
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?
NACM
NOVEMBER 7, 2023
NACM's 128th Credit Congress will be held in Las Vegas, NV from June 9-12, 2024. With networking, educational seminars and a chance to explore and enjoy entertainment in the city, this Credit Congress is one opportunity you do not want to miss!With several sessions offered, credit professionals are able to learn and connect with others on any issue.
The Kaplan Group
NOVEMBER 7, 2023
The number of women-owned businesses in the U.S. is growing. The latest Census data counted over 1.1 million companies owned by women entrepreneurs in 2018, and these companies do over $1.8 trillion in sales each year. Together, they employ 10.1 million workers. While these stats are impressive, most businesses will need outside funding at some point.
Troutman Sanders
NOVEMBER 7, 2023
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On November 2, the Federal Trade Commission (FTC) announced that it is taking action against a personal finance app provider, alleging that its promises of “instant” cash advances were deceptive and that the company “locked” consumers into a monthly me
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