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The Court of Appeals for the Sixth Circuit has affirmed a ruling in favor of a defendant in a Fair Debt Collection Practices Act case that was sued for allegedly not informing the plaintiff that the underlying debt in question was time-barred, ruling that the statute of limitations for the debt had not yet expired. The background: The case originated when the plaintiff, who had accrued several unpaid medical bills between 2011 and 2015, discovered that these debts had been reported to the credit
The CFPB is distributing $1.8 billion to 4.3 million consumers charged illegal junk fees by credit repair companies including Lexington Law and CreditRepair.com.
Debt consolidation may temporarily lower your credit score due to hard inquiries and changes in credit utilization, but consistent, on-time payments can help improve it over time. Carrying debt, whether its through personal loans, credit cards, mortgages, or student loans, is common in America. And if youre struggling to keep up with your payments, youre not alone.
The CFPB took action against student lender Climb Credit and its investors, including 1/0 (“One Zero”), which if entered will require the companies to stop making representations in their advertising about the quality of the training programs at their partner schools and graduates’ hiring rates and salaries.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Appeals Court Affirms Ruling for Defendant in FDCPA Case Over Status of Debts CFPB Seeks to Expand Scope of FCRA: Data Brokers Now in the Crosshairs Judge Grants MSJ for Defendant in FCRA Case Over Dismissal of Collection Suit 20 Companies Seeking Collection Talent WORTH NOTING: Here is some help if you are notoriously bad at buying presents for people … A list of the 10 best TV shows of 2024 (I can vouch for number one which is the only one on the list I saw) … If you were taking a
La CFPB y el DOJ emiten declaracin conjunta afirmando que las instituciones no podran usar estatus migratorio para ilegalmente discriminar a solicitantes de crdito.
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La CFPB y el DOJ emiten declaracin conjunta afirmando que las instituciones no podran usar estatus migratorio para ilegalmente discriminar a solicitantes de crdito.
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.
While many financial service institutions can offer basic payment portals, these are often limited when it comes to collecting on delinquent accounts. TrueAccord delivers a robust difference. Self-serve options should be a key part of any collections operation. In fact, research from McKinsey found that consumers who digitally self-serve resolve their debts at higher rates, are significantly more likely to pay in full, and report higher levels of customer satisfaction than consumers who pay via
A District Court Judge in Michigan has granted a defendant’s motion for summary judgment in a Fair Credit Reporting Act case, ruling that the defendant did not violate its obligations under the law by continuing to report a disputed debt. The background: The case began when the plaintiff disputed a debt reported by the defendant, a major bank.
The Government has announced the launch of a new Fair Payment Code aimed at tackling late payments, with research showing that SMEs are on average owed £22,000 a year. It comes on top of an earlier announced consultation which will investigate the scale of the problem and best solutions. Tackling Commercial Late Payment The code, overseen by the Small Business Commissioner Liz Barclay, introduces a gold, silver, and bronze system to reward best payment practices and help smaller firms identify r
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
The Consumer Financial Protection Bureau has proposed a sweeping new rule that seeks to bring data brokers under the Fair Credit Reporting Act. This rule would classify these brokers as consumer reporting agencies (CRAs), subjecting them to stringent requirements. Why it matters: The CFPB aims to curb what Director Rohit Chopra calls “widespread evasion” of the FCRA by data brokers who often sell personal data without proper oversight, potentially exposing consumers to fraud, identit
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