Account Recovery
MARCH 8, 2024
As promised, the Chamber of Commerce, along with a number of other banking trade groups — including some from Texas — filed a lawsuit yesterday against the Consumer Financial Protection Bureau, saying the regulator overstepped its authority it issuing a rule capping late fees that can be charged for missed credit card payments.
UK debt collections
MARCH 8, 2024
Data released from Reposit, a deposit alternative service, reveals what it calls “a concerning surge in rent arrears” during the final quarter of last year as the economic climat e took its toll on tenants.The data reveals an uptick in the value of typical rent arrears claims from October’s £1,344 to £2,108 in November, and maintaining high levels at £1,954 in December.
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Account Recovery
MARCH 8, 2024
Collector Facing FDCPA Class-Action for Sending 11 MVNs, Allegedly Overshadowing Dispute Window Judge Grants MJOP for Defendant in FDCPA Class Action Over POC in BK Proceeding Florida Legislature Passes Medical Debt Collection Bill Groups Sue CFPB Over Credit Card Late Fee Rule WORTH NOTING: Five takeaways from last night’s State of the Union address … […]
Hudson Weir
MARCH 8, 2024
Fiduciary duties refer to the responsibilities that directors owe to their companies and all connected to them – customers, partners, shareholders and of course, staff. In the UK, these duties are primarily codified in the Companies Act 2006 , which outlines what is expected from directors. We would always suggest speaking to a professional advisor about your individual circumstances.
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
MARCH 8, 2024
A District Court judge in Pennsylvania has granted a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices Act class-action, ruling the defendants did not violate a state law regarding the interest rate it was charging and were not required to itemize the debt when filing a proof of claim during […]
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
MARCH 8, 2024
Both houses in the Florida legislature this week have approved a bill that places limits on how healthcare debts can be collected while also setting a three-year limit on collecting unpaid medical debts.
Troutman Sanders
MARCH 8, 2024
On March 1, Senate Bill (SB) 335 was introduced, which, if passed, would impose certain requirements on “commercial financing transactions.” Recently, multiple states have enacted disclosure regulations for commercial financing transactions (see discussions on California , Connecticut , Florida , Georgia , New York , Virginia , and Utah ). Under SB 335 a “commercial financing transaction” is defined as a business purpose transaction under which a person extends a business a commercial loan, an a
Account Recovery
MARCH 8, 2024
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?
NACM
MARCH 8, 2024
On today's episode of Extra Credit … ? As credit departments become more modern with new automation platforms and software, credit managers must prepare to handle any challenges that come their way.? The best way credit teams can ensure the success of any technology transformation is with change management.? Why it matters: It's about managing.
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.
Troutman Sanders
MARCH 8, 2024
As discussed here , earlier this week the Consumer Financial Protection Bureau (CFPB or Bureau) finalized its credit card late fee rule (Final Rule). The Final Rule sets a safe harbor amount for late fees at $8 and eliminates the annual inflation adjustments to that safe harbor amount, for larger card issuers. The timing of the Final Rule’s announcement, just days before the State of Union address, did not go unnoticed.
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