Consumer Finance

NOVEMBER 6, 2024

The CFPB took action against Navy Federal Credit Union for charging illegal overdraft fees.

Credit Unions 145

Credit Unions Credit Unions Banks 145

Account Recovery

NOVEMBER 6, 2024

62% of Americans are now living paycheck to paycheck, according to recent research from PYMNTS Intelligence, highlighting a stark reality for many consumers today. For those living on the edge financially, every pay period is just enough to make it to the next — leaving them highly vulnerable to unexpected expenses. Why it matters: Paycheck-to-paycheck households are increasingly reliant on revolving credit and are carrying higher outstanding balances compared to financially stable consumers.

Collections 130

Collections 130

FFGN COLLECT NY

NOVEMBER 6, 2024

Looking to domesticate a judgment based on an out-of-state arbitration award in New York? The process will differ depending on whether the debtor appeared during the confirmation process. New York differentiates judgments obtained by default from those obtained on the merits. If your judgment debtor participated in the underlying arbitration but failed to appear or oppose your application to confirm the arbitration award—so that the judgment was rendered by default—you will need to sue in New Yo

Judgment 52

Judgment Debtor 52

Account Recovery

NOVEMBER 6, 2024

A District Court judge in Florida has been forced to rule on competing motions for attorney’s fees in a Fair Debt Collection Practices Act case in which both sides are claiming victory, ruling partially in favor of both the plaintiff and the defendant. The judge decided that the plaintiff is entitled to recover some attorney’s fees, while the defendants are also entitled to recover some costs, but only after a particular offer of settlement was made.

Fair Debt Collection 130

Fair Debt Collection Consumer Collections Collections 130

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.

Collection Industry News

NOVEMBER 6, 2024

Nearly a third, 30%, of federal student loan borrowers say they’ve gone without food, medicine or other necessities because of their monthly bills. That grim finding comes from a new survey by the Consumer Financial Protection Bureau, conducted between October 2023 and January 2024, and including more than 3,000 responses from people with an active or recently active student loan account.

Student loans 40

Student loans Student Loans Loans Education 40

Account Recovery

NOVEMBER 6, 2024

Judge Awards Attorney’s Fees to Both Sides in FDCPA Case Credit Strain Grows as More Americans Live Paycheck to Paycheck Report Highlights Progress of CFPB’s Information Security Efforts, But Gaps Still Remain InDebted Appoints Kristyn Leffler as Chief Product Officer 20 Companies Seeking Collection Talent WORTH NOTING: Happy 10th birthday to Amazon’s Alexa … The best cell phone plans … First-time homebuyers are older than ever, according to new data … Just how important

Collections 130

Collections 130

Account Recovery

NOVEMBER 6, 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.

Accounts Receivables Management 130

Accounts Receivables Management Collections 130

Account Recovery

NOVEMBER 6, 2024

The Consumer Financial Protection Bureau has made strides in improving its information security program, but a recent audit highlights several critical areas where the agency is falling short, according to a report released last week by the Federal Reserve Board’s Office of Inspector General, which is an independent oversight authority over the Fed and the CFPB.

Financial Institution 130

Financial Institution 130