Mon.Jan 27, 2025

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41% of Americans Can’t Afford $1,000 Emergency Expenses

Account Recovery

Why it matters:The data paints a concerning picture of Americans financial preparedness. As many struggle to build or maintain emergency savings, a growing number of people are relying on borrowing to cover unexpected expenses. With rising inflation and high interest rates, many find themselves in a precarious financial situation, particularly younger generations who are less likely to have significant savings.

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Late Payments identified as top cause of Cash Flow issues for SMEs

UK debt collections

Late payments are the primary culprit for causing cash flow problems for businesses according to two fifths (41%) of UK small and medium-sized enterprises (SMEs) while making sure the bills are paid was an issue for a third (32%) and having access to emergency cash (21%) was also top of the list. Thats according to Allstar , one of the UKs leading business, EV and fuel expense payment companies, which researched the issues plaguing the nations small businesses.

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Eleventh Circuit Blocks FCC Rule Seeking to Redefine ‘Prior Express Consent’ Under TCPA

Account Recovery

The Court of Appeals for the Eleventh Circuit blocked a rule from the Federal Communications Commission (FCC) that was set to go into effect today interpreting the definition of “prior express consent” under the Telephone Consumer Protection Act (TCPA). The background: The case originated from concerns within the lead generation and telemarketing industries about the FCC’s 2023 rule, which aimed to impose stricter requirements on obtaining prior express consent from consumers.

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CFPB Report Finds Continued Challenges for Households that Rent

Consumer Finance

Today, the Consumer Financial Protection Bureau (CFPB) released two reports looking at national rental payment data from September 2021 to November 2024.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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Nevada Court Dismisses Wage Garnishment Lawsuit Due to Lack of Jurisdiction

Account Recovery

A District Court judge in Nevada has granted a defendant’s motion to dismiss after it was accused of garnishing the plaintiff’s wages without first domesticating the judgment in that state. Judge Andrew P. Gordon of the District Court for the District of Nevada ruled that the defendant, a debt collection law firm, lacked the necessary minimum contacts with Nevada to establish personal jurisdiction.

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Compliance Digest – January 27

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management Turnkey Speech Analytics. And Our New BLG360 Program Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

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CFPB Letter to Washington State Legislature on Barring Medical Bills on Credit Reports

Consumer Finance

A letter written by Seth Frotman, CFPB General Counsel, to Senator Marcus Riccelli and Representative Joe Timmons of the Washington State Legislature.

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Daily Digest – January 27. Eleventh Circuit Blocks FCC Rule Seeking to Redefine ‘Prior Express Consent’ Under TCPA; 41% of Americans Can’t Afford $1,000 Emergency Expenses

Account Recovery

Eleventh Circuit Blocks FCC Rule Seeking to Redefine Prior Express Consent Under TCPA Nevada Court Dismisses Wage Garnishment Lawsuit Due to Lack of Jurisdiction 41% of Americans Cant Afford $1,000 Emergency Expenses Compliance Digest January 27 WORTH NOTING: Expensive mistakes that people make when planning a vacation … The fast food staples that chefs like to eat … While the Supreme Court’s politics have shifted right in recent years, it’s writing has shifted left R

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CFPB Letter to Oregon State Legislature on Barring Medical Bills on Credit Reports

Consumer Finance

A letter written by Seth Frotman, CFPB General Counsel, to Senator Wlnsvey Campos and the Representative Nathan Sosa of the Oregon State Legislature.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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.

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Understanding Rule 10b-5 Claims: Elements and Defenses in Securities Fraud Litigation

Jimerson Firm

In today’s complex financial markets, allegations of securities fraud can have significant consequences for both companies and investors. One of the most important tools in securities litigation is Rule 10b-5, which provides investors with a private right of action to recover losses caused by fraudulent conduct in securities transactions. This blog post will examine the essential elements of a Rule 10b-5 claim and key defenses available to defendants facing such claims.

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CFPB Letter to South Dakota State Legislature on Barring Medical Bills on Credit Reports

Consumer Finance

A letter written by Seth Frotman, CFPB General Counsel, to Representative Brian Mulder of the South Dakota State Legislature.

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Whirlwind of Activity Ends With Eleventh Circuit Invalidating FCC’s Lead Generation Rule

TCPA

Our regular readers will no doubt be familiar with the one-to-one-consent and logically-and-topically-related requirements the FCC (under the prior administration) had tried to impose as a way to close what it had described as a lead generator loophole.

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CFPB Letter to Massachusetts State Legislature on Barring Medical Bills on Credit Reports

Consumer Finance

A letter written by Seth Frotman, CFPB General Counsel, to the Representative John J. Lawn, Jr. and the Senator John J. Cronin of the Massachusetts State Legislature.

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The New Way CPAs are Delivering Value: Aligning Automation with Client Success

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.