Mon.Oct 21, 2024

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Effective Email Templates for Overdue Invoice Reminders

Enterprise Recovery

Do you tense up every time you run your business's aging report ? Instead of feeling helpless about delinquent accounts, you can stay calm and take proactive steps to manage the situation. By adopting a strategic approach, you can implement practical solutions to increase your success at recovering outstanding payments. Tired of chasing overdue invoices?

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ACA International Sues NYC Over New Debt Collection Regs

Account Recovery

ACA International on Friday sent out an alert to its members letting them know that the association, on behalf of one of its members, has filed a lawsuit seeking to block the enactment of debt collection rules that are slated to go into effect in New York City in December. The suit, filed against New York City Mayor Eric Adams, the city’s Department of Consumer and Worker Protection, and DCWP Commissioner Vilda Vera Mayuga, argues that the new rule, which is set to take effect on December

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CFPB Finalizes Personal Financial Data Rights Rule to Boost Competition, Protect Privacy, and Give Families More Choice in Financial Services

Consumer Finance

The CFPB finalized a rule to give consumers greater rights, privacy, and security over their personal financial data by requiring providers to unlock personal financial data for free.

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Judge Halves Plaintiff’s Request for Attorney’s Fees in FDCPA Case

Account Recovery

A District Court judge in California has essentially split the difference in determining the amount of attorney’s fees in a Fair Debt Collection Practices Act case by lowering the hourly rate awarded to plaintiff’s attorneys and removing the lodestar multiplier because “there were no novel or difficult issues presented and the time and labor spent to resolve the matter was minimal.” The background: The plaintiff initially filed the lawsuit, accusing the defendant of viola

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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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California Debt Collection Compliance Updates: A Guide for Businesses

Burt and Associates

About Transcript About I. Introduction: The Evolving Landscape of California Debt Collection This section introduces the importance of staying informed about the latest compliance requirements for debt collection in California, particularly for businesses operating under the Department of Financial Protection and Innovation (DFPI). II. Designated Email Update: A Crucial Communication Channel This section details the new requirement for businesses to designate a generic email address for official

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Massachusetts debt collection laws: What do business owners need to know?

Collections Law

At Law Offices of Alan M. Cohen & Associates LLC, our commercial collections lawyers have more than 50 years of combined experience. They have dedicated their practice to collecting commercial debts in Massachusetts. Using methods available under state and federal laws, our ethical debt collection lawyers fight to get you paid, and they do so relentlessly and aggressively.

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Prepared Remarks of CFPB Director Rohit Chopra at the Federal Reserve Bank of Philadelphia on the Personal Financial Data Rights Rule

Consumer Finance

Director Chopra delivered remarks at the Federal Reserve Bank of Philadelphia about the CFPB’s Personal Financial Data Rights Final Rule.

Banks 105
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Involuntary Bankruptcy in Denver: What It Means for Your Business and Livelihood

Debt Free Colorado

Our Bankruptcy Lawyers are Your Local Legal Lifeline Are you looking for bankruptcy lawyer in Denver, CO ? When considering bankruptcy, having an experienced attorney by your side is essential. Bankruptcy laws can be complex and are always subject to change. A skilled Denver bankruptcy lawyer can easily navigate this legal process’s ins and outs.

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Key Announcements and Deadlines

Burt and Associates

As part of Burt and Associates’ ongoing commitment to staying compliant with state regulations, the debt collection industry is witnessing several critical updates—particularly in California , where evolving rules are reshaping operational practices. With deadlines fast approaching and strict regulations enforced by the Department of Financial Protection and Innovation (DFPI) , businesses must remain proactive to avoid disruptions and ensure compliance.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Ensuring Regulatory Compliance with the Right Debt Management & Collections System

Qualco

As debt collection becomes increasingly complex, regulatory compliance has shifted from a legal necessity to a strategic pillar for building trust, operational efficiency, and long-term re s ilience. Our latest report, " Compliance in Collections: Understanding Key EU Regulations " reveals how businesses can stay ahead of evolving regulations while achieving better collection results.

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Daily Digest – October 21. ACA International Sues NYC Over New Debt Collection Regs; Hospital Market Concentration Linked to Higher Medical Debt Burdens, Study Finds

Account Recovery

ACA International Sues NYC Over New Debt Collection Regs Hospital Market Concentration Linked to Higher Medical Debt Burdens, Study Finds Judge Halves Plaintiff’s Request for Attorney’s Fees in FDCPA Case Compliance Digest – October 21 WORTH NOTING: Five questions to help you narrow down who to dress up as for Halloween … Why you may want to think twice about unpacking as soon as you get home from a trip … This is the kind of accident we can all get behind … New York Community

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New York’s Highest Court Will Finally Address the Foreclosure Abuse Prevention Act

Consumer Finance Watch

The Foreclosure Abuse Prevention Act (“FAPA”) has been heavily litigated since its enactment in December 2022. New York courts have issued conflicting decisions interpreting FAPA, including whether the statute applies retroactively to conduct that occurred prior to its enactment and whether retroactive application is unconstitutional. Lenders, mortgage servicers, and other financial institutions should take note that the Second Circuit has certified the question of FAPA’s retroactive application

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Compliance Digest – October 21

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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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Biden-Harris Administration Approves Additional $4.5 Billion in Student Debt Relief for 60,000 Public Service Workers, Bringing Total to Over 1 Million Public Servants

Collection Industry News

Latest relief under Public Service Loan Forgiveness (PSLF) Program brings total loan forgiveness approved by the Administration to over $175 billion for more than 4.8 million Americans The Biden-Harris Administration announced today the approval of approximately $4.5 billion in additional student loan relief for over 60,000 borrowers across the country who work in public service.