Account Recovery
JANUARY 23, 2024
Reporting errant payment obligations to a credit reporting agency may be enough for a plaintiff to have standing to sue under the Fair Credit Reporting Act, a federal judge has ruled — joining a growing number of courts to make such a determination — but it still isn’t enough for the plaintiff to state a […]
Consumer Finance
JANUARY 23, 2024
The Consumer Financial Protection Bureau proposed to block financial institutions from one potential source of new junk fee revenue – fees on instantaneously declined transactions.
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Account Recovery
JANUARY 23, 2024
Synchrony Financial yesterday announced it had acquired the point-of-sale business from Ally Financial, specifically targeting the home improvement sector. The acquisition adds $2.2 billion of receivables to Synchrony’s portfolio and improves its position and exposure in the FinTech space.
UK debt collections
JANUARY 23, 2024
There has been a near 25% increase in the number of businesses in ‘critical’ financial distress, with firms in London and the south east topping the regional rankings, according to the latest Begbies Traynor ‘Red Flag Alert’ Nearly 40,000 companies, or 37,722 across the UK, are revealed to be in a ‘critical’ state in the third quarter this year – up 25% since the second quarter.
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
JANUARY 23, 2024
Collector Facing FDCPA Suit For Leaving ‘Dog Whistle’ Messages with Family Members Judge Rules Plaintiff has Standing in FCRA Case Over Disputed Debt, but Still Dismisses Case 17M Consumers Compromised in Ransomware Attack at Mortgage Lender Synchrony Buys POS Business from Ally Financial PRA Group Names Keith Warren as New Head of Risk and Compliance […]
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JANUARY 23, 2024
Getting to Know Brandon Huisman of State Collection Service Judge Dismisses FDCPA, FCRA Suit Over Reporting Debt Without Plaintiff’s Permission CFPB Proposes Rule to Slash Overdraft Fees Supreme Court Denies Petition to Hear TCPA ATDS Case WORTH NOTING: All the things you don’t need to dry clean, even the label says you need to … […]
Credit Corp
JANUARY 23, 2024
Although you’re allowed to sell your own home, doing so is a lot of work. Before you move forward, take time to consider the pros and cons of handling things on your own. If you’re thinking about putting your house on the market, you may be wondering whether you can sell your own home. Yes, you can, but don’t put up a For Sale sign just yet. Although you’re allowed to sell your own home, doing so is a lot of work.
Account Recovery
JANUARY 23, 2024
EDITOR’S 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?
Consumer Finance
JANUARY 23, 2024
CFPB propone bloquearles a las instituciones financieras una potencial fuente de ingresos por nuevas tarifas inesperadas; las penalidades por transacciones declinadas instatáneamente.
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
JANUARY 23, 2024
More than 16 million consumers had their sensitive personal information stolen in a ransomware attack earlier this month that has crippled one of the nation’s largest lending operations and still has some of their online services inaccessible. The Who: LoanDepot confirmed the data breach in a filing with federal regulators yesterday.
FFGN COLLECT NY
JANUARY 23, 2024
“It’s on our invoice!” Wondering if the printed language appearing on your invoice is enforceable if you go forward with a NY Debt Collection claim? More and more creditors are including language on invoices anticipating non-payment by customers. But what happens when the customer defaults? Does the fact that the words appear on your invoice mean anything?
Account Recovery
JANUARY 23, 2024
NORFOLK, Va., Jan. 22, 2024 – PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, today announced the appointment of Keith Warren as chief risk and compliance officer (CRCO), effective Jan. 29.
FFGN COLLECT NY
JANUARY 23, 2024
“It’s on our invoice”! Wondering about the printed language appearing on your invoice and its impact on your NY Debt Collection claim. More and more creditors are including language on invoices in anticipation of possible non-payment by customers. But what happens when the customer defaults? Does the fact that the words appear on your invoice mean anything?
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?
Troutman Sanders
JANUARY 23, 2024
Please join Troutman Pepper Partner Dave Gettings and colleagues Tim St. George and Cindy Hanson for a highly informative discussion on federal preemption as it relates to state laws and the Fair Credit Reporting Act (FCRA). This episode provides listeners with an overview of important state and local legislation governing background screening, along with discussions about how federal preemption might affect required compliance with these state and local laws.
ABI
JANUARY 23, 2024
Jenna Marshiano St. John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Kramer , the U.S. Court of Appeals for the Sixth Circuit reversed district court holdings of constitutional and equitable mootness in personal and business bankruptcy cases of debtors Keith Bradley Kramer (“Kramer”) and his real estate business on appeal by judgment creditor Said A.
NACM
JANUARY 23, 2024
The relentless pursuit of education never stops for some professionals, no matter where they may be in their career's tenure—especially for those who change or take on additional roles. NACM's Professional Certification Program gives credit professionals that exact opportunity. With six levels of education that start with the basics of credit all t.
ABI
JANUARY 23, 2024
Shannon McGarr St. John’s University School of Law American Bankruptcy Institute Law Review Staff Section 365(a) of title 11 of the United States Code (the "Bankruptcy Code") allows a bankruptcy trustee to assume and assign an executory contract of the debtor. [1] In In re Svenhard’s Swedish Bakery , the United States Bankruptcy Appellate Panel for the Ninth Circuit affirmed a holding that a prepetition settlement agreement between a debtor and an unsecured creditor was not an execut
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Troutman Sanders
JANUARY 23, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On January 19, the Federal Deposit Insurance Corporation (FDIC) issued cease-and-desist letters to five entities for making false and misleading statements about FDIC deposit insurance.
ABI
JANUARY 23, 2024
Panayiotis Xenakis St. John’s University School of Law American Bankruptcy Institute Law Review Staff Section 6015(f) of the Internal Revenue Code allows the Secretary of the Treasury to relieve an “innocent spouse” of liability for any unpaid tax or deficiency if it is inequitable to hold him or her liable for the malfeasance of his or her significant other. [1] Section 505(a) of title 11 of the United States Code (the “Bankruptcy Code”) allows bankruptcy courts to determine the “legalit
ABI
JANUARY 23, 2024
Tayler Eynon St. John’s University School of Law American Bankruptcy Institute Law Review Staff The Bankruptcy Court for the Southern District of New York was presented with two issues related to a subpoena target’s refusal to comply in In re Three Arrows Capital, Ltd. First , whether the Foreign Representative’s service of a subpoena by alternative means of service, specifically email and social media, was reasonably calculated to provide notice. [1] Second , whether the issue of personal jur
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