Consumer Finance
DECEMBER 4, 2024
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.
Account Recovery
DECEMBER 4, 2024
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
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Consumer Finance
DECEMBER 4, 2024
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.
Account Recovery
DECEMBER 4, 2024
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.
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.
Consumer Finance
DECEMBER 4, 2024
La CFPB y el DOJ emiten declaracin conjunta afirmando que las instituciones no podran usar estatus migratorio para ilegalmente discriminar a solicitantes de crdito.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
DECEMBER 4, 2024
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
True Accord
DECEMBER 4, 2024
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
Account Recovery
DECEMBER 4, 2024
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.
UK debt collections
DECEMBER 4, 2024
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
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.
Account Recovery
DECEMBER 4, 2024
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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