Account Recovery

NOVEMBER 22, 2023

In yesterday’s Daily Digest, I asked people to send me a note to share what they are thankful for and a number of you responded. So right off the bat, I am thankful for that.

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PDC Flow

NOVEMBER 22, 2023

Many consumers prefer to pay large bills in installments through ACH payments rather than a credit card. Offering this option in your business will decrease consumer complaints and increase your overall receivables. But just as with cards, it’s important to ensure the recurring ACH payments you accept are compliant. Understanding Recurring ACH Payment Compliance Complying with every regulation that applies to your business can get tricky.

Financial Institution 75

Financial Institution Government Banks 75

Account Recovery

NOVEMBER 22, 2023

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.

Accounts Receivables Management 130

Accounts Receivables Management Collections 130

Troutman Sanders

NOVEMBER 22, 2023

On October 9, a Florida state senator introduced SB 146 , which would add a new section to the Florida Consumer Finance Act (CFA), attempting to curb evasion of the CFA. SB 146 would treat all payments incident to the loan as interest, even if voluntary, and would adopt both predominant economic interest and totality of the circumstance tests for true lender purposes.

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Banks Loans Lender 52

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 22, 2023

The collection agency also reported a 160% increase in collections with one portfolio thanks to Skit.ai’s conversational AI platform. NEW YORK, NY (November 22, 2023) – Skit.

Collection Agencies 130

Collection Agencies Collections Agency Collections 130

Account Recovery

NOVEMBER 22, 2023

The Court of Appeals for the Ninth Circuit has overturned a lower court’s ruling in a Fair Debt Collection Practices Act case that has to do with judgments and a legal principal that aims to keep federal courts out of issues that were already dealt with in state court.

Fair Debt Collection 130

Fair Debt Collection Judgment Collections 130

Collection Industry News

NOVEMBER 22, 2023

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) is proposing to supervise larger nonbank companies that offer services like digital wallets and payment apps. Driven largely by Big Tech and other large technology firms, digital payment apps and wallets continue to grow in popularity, but many of the companies are not subject to CFPB supervisory examinations.

Credit Unions 40

Credit Unions Credit Unions Student Loans Student loans 40

Account Recovery

NOVEMBER 22, 2023

The Consumer Financial Protection Bureau and 11 states announced earlier this week that an online training company will close its doors and provide $30 million in relief to student borrowers, in part because of abusive debt collection practices that it deployed when individuals were unable to make their payments.

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Collections Loans 130

Account Recovery

NOVEMBER 22, 2023

What Your Peers are Thankful For This Holiday Season Appeals Court Overturns FDCPA Ruling Online Training Company Sued by CFPB, State AGs for Illegal Collection Activities to Close, Will Forfeit $30M in Unpaid Loans 19 Companies Seeking Collection Talent Forest Recovery Services Sees 10X Jump in Outbound Collection Calls with Skit.

Loans 130

Loans Collections 130

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.

Banks