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You may be a small business owner or a professional in the position of finance. You may be reading this and at the same time having challenges with cash flow. The main culprit could be late and non-paying consumers. Just about every type of business will encounter this challenge, and it’s imperative to implement a regular and consistent program for getting customers to pay you for what you have provided.
The Consumer Financial Protection Bureau filed a brief yesterday seeking to convince a federal judge why it should be entitled to $43 million in penalties from the owner of a debt relief company. The case, CFPB v. FDATR, Inc., is being heard in the Northern District of Illinois, with Judge Georgia N. Alexakis presiding. The CFPB’s motion comes after the company, FDATR, failed to respond to the complaint filed in 2020, leading to a default judgment earlier this year.
Securing a judgment against a debtor is a significant victory, but the battle doesnt end there. Collecting on that judgment requires finding the money, sometimes by uncovering the debtors assets. This process is known as post-judgment asset discovery. It is a crucial step that can be the difference between getting paid and walking away empty-handed.
The Attorney General of New York has introduced proposed legislation that would update state law to protect consumers from unfair and abusive acts or practices in addition to the deceptive practices that have been illegal since the original law went into effect in 1970. Driving the news: New York Attorney General Letitia James, along with state lawmakers Sen.
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?
Employers are permitted to withhold or otherwise deduct from employee paychecks for tax purposes, and lesser known reasons like repayment of amounts owed to the employerin certain circumstances. Any withholding must be in compliance with contracts between the employer and employee and applicable employment regulations. The Fair Labor Standards Act (FLSA) is one such employment regulation, which establishes minimum wage, overtime pay, and recordkeeping standards in the United States.
A collection operation in Indiana that was the subject of a Consumer Financial Protection Bureau enforcement order back in 2023 has closed its doors for good, leaving nearly 100 employees looking for work. The collection agency may be associated with a debt buying operation that also recently shut its doors. Phoenix Financial Services, based in Fishers, Ind., closed at the end of February, according to a published report.
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A collection operation in Indiana that was the subject of a Consumer Financial Protection Bureau enforcement order back in 2023 has closed its doors for good, leaving nearly 100 employees looking for work. The collection agency may be associated with a debt buying operation that also recently shut its doors. Phoenix Financial Services, based in Fishers, Ind., closed at the end of February, according to a published report.
Mountain View, CA, March 14, 2025 – Prodigal today announced the Prodigal Intelligence Engine (PIE), a specialized intelligence layer designed to power AI agents in collections and consumer finance. Building foundations for Agentic AI in consumer finance Recent advancements have led many industries to rapidly adopt AI agents; consumer finance and collections are no exception.
Suit Accuses Collector of Misinterpreting Refusal to Pay as Dispute NY AG Introduces Bill to Prohibit Unfair, Deceptive Acts Against Consumers Indiana Collection Agency Closes Down, Affecting Nearly 100 Employees CFPB Moves Forward With Attempt to Order Debt Relief Company Owner to Pay $43M Prodigal launches PIE: Intelligence Layer for Collections AI Agents WORTH NOTING:Two federal judges have ordered thousands of fired federal workers to be rehired … A list of the world’s greatest p
EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!
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