Mon.Nov 04, 2024

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Consumers Struggling with Emergency Savings Amid Rising Inflation

Account Recovery

Nearly two-thirds of Americans are falling behind on their emergency savings due to soaring inflation and increasing expenses, which leads them with less money available to repay debts, according to a survey released by Bankrate. By the numbers: Generational insights: Income disparities: Key obstacles to saving: What they’re saying: “Expenses, and the fact that those expenses have increased, have been a headwind to boosting emergency savings this year,” said Greg McBride, CFA,

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Loan Origination Systems: Transforming Consumer Lending for the Future

Qualco

As the financial sector rapidly evolves, driven by technological advancements, loan origination processes are experiencing profound changes. A key development is the growing adoption of Loan Origination Systems (LOS), which have become essential tools for financial institutions. According to recent forecasts from Future Market Insights , the global loan origination software industry is projected to grow at a CAGR of 13.4% from 2023 to 2033, reaching a market size of US$ 17,505.7 million by 2033.

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Daily Digest – November 4. Judge Denies FDCPA Claim in Elaborate Fraud Case; ACA International Sues CFPB Over Medical Debt Collection Guidance

Account Recovery

Judge Denies FDCPA Claim in Elaborate Fraud Case ACA International Sues CFPB Over Medical Debt Collection Guidance Consumers Struggling with Emergency Savings Amid Rising Inflation Compliance Digest – November 4 WORTH NOTING: It’s never too early to start shopping Black Friday deals … A recipe to help you use up Halloween candy leftovers … The gap between the price of used cars and new vehicles has never been wider … Being lonely may accelerate the onset of dementia ̷

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6% of Debt Collection visits breaching National Standards

UK debt collections

New research has shown that debt collectors are breaching national standards in 6% of visits to individuals facing enforcement. The study into doorstep interactions in civil enforcement – published by the Enforcement Conduct Board (ECB) – found a noticeable area in which the standards are least commonly met is in acknowledging and taking into account self-identified or obvious vulnerability.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Judge Denies FDCPA Claim in Elaborate Fraud Case

Account Recovery

Before diving into the details, I originally decided to write about this ruling because I thought it would be helpful to detail the lengths to which the scammer went in this situation and how it’s not always the uneducated or unsophisticated who get taken advantage of. But on top of that, there is a Fair Debt Collection Practices Act angle to the case, too.

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Compliance Digest – November 4

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.