Account Recovery
DECEMBER 6, 2023
New report from TransUnion and Datos Insights also finds 60% of third-party collections companies on the path to adopting artificial intelligence to improve consumer experiences Chicago, Dec.
Consumer Finance
DECEMBER 6, 2023
The Consumer Financial Protection Bureau (CFPB) today took action against Atlantic Union Bank for illegally enrolling thousands of customers in checking account overdraft programs.
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Account Recovery
DECEMBER 6, 2023
A bill has been introduced in the Senate to create a student loan borrower bill of rights, which would limit the circumstances in which late fees can be applied, prohibit the use of mandatory arbitration provisions, and force servicers to create units that are dedicated to keeping at-risk borrowers from defaulting, among other requirements.
Hudson Weir
DECEMBER 6, 2023
There are lots of reasons to change the company name but people often ask us if you can do it during administration. The purpose of administration is to try rescuing the company. It’s an insolvency procedure for securing control when creditors are set to take action against the company. With a total of 2,315 in October 2023, the number of insolvencies was 18% higher than for the same month in 2022, according to The Insolvency Service.
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
DECEMBER 6, 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.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
DECEMBER 6, 2023
I think, and please correct me if I am wrong, that this is a case the speaks to the importance of having your agreements reviewed not only to make sure that the language makes sense, but to make sure that if there is something that refers to someone or something else, that the language lines […]
Collections Law
DECEMBER 6, 2023
In today’s world, commerce is mobile. Chances are, your business is providing goods and services in more than one state, especially if you are a larger company. Collecting on a foreign judgment from a debtor in another state can be complicated, but not impossible. At Law Offices of Alan M. Cohen & Associates LLC, we regularly counsel out-of-state clients on debt collection from their debtors who have assets in Massachusetts.
Account Recovery
DECEMBER 6, 2023
A proposed settlement has been reached in a Fair Debt Collection Practices Act class-action that will see the defendants pay $60,000 in compensation to the members of the class as well as plaintiffs’ attorney’s fees and costs of up to $150,000.
Troutman Sanders
DECEMBER 6, 2023
In March 2023, the California Department of Financial Protection and Innovation (DFPI) proposed new regulations under the California Financing Law that would update the definition of loan to include what it dubs as “income-based advances” also known as earned wage access (EWA) products, except for those offered by employers. After considering written comments to the proposed regulations, on November 6, the DFPI issued modifications to the proposed regulations and announced comments on the modifi
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 6, 2023
Appeals Court Affirms Denial to Compel Arbitration in FCRA Case Proposed Settlement Reached in FDCPA Class Action Over Deceptive Letters Student Loan Borrower Bill of Rights Introduced in Senate 23 Companies Seeking Job Talent WORTH NOTING: Why the auto industry doesn’t want to put tech to tell people to slow down in cars … If […]
Troutman Sanders
DECEMBER 6, 2023
A U.S. District Court in the Southern District of California recently held that a Federal Rule of Civil Procedure 68 offer of judgment must clearly state that attorneys’ fees and costs are limited or waived, as Arvest Central Mortgage Company (Arvest) learned to its detriment. The plaintiff had a mortgage with Arvest, entered into a forbearance agreement, and made the payments on the property, but claimed Arvest inaccurately reported that he was late on his October 2020 payment.
Collection Industry News
DECEMBER 6, 2023
The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt, for 80,300 borrowers. The relief is a result of the U.S. Department of Education’s fixes to its income-driven repayment plans and Public Service Loan Forgiveness program. “Before President Biden took office, it was virtually impossible for eligible borrowers to access the student debt relief they rightfully earned,” U.S.
Troutman Sanders
DECEMBER 6, 2023
On November 20, the Securities and Exchange Commission (SEC) instituted a civil enforcement action against Kraken, a major U.S. cryptocurrency exchange. The SEC alleged Kraken operated as an unregistered broker, dealer, exchange, and clearing agency, in violation of the Securities Exchange Act. The SEC’s lawsuit aims to prohibit Kraken from continuing these activities and seeks an unspecific amount of civil monetary penalties.
Speaker: Genevieve Hancock, CPA
Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?
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