Account Recovery

OCTOBER 14, 2024

A District Court judge in Oklahoma has dismissed yet another “inconvenient” time or place case under the Fair Debt Collection Practices Act in which a plaintiff mails a letter to the defendant requesting or demanding that all future contact between the parties be conducted via email, ruling that both the FDCPA and Regulation F gave the defendant the authority to respond via traditional mail and not via email.

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Fair Debt Collection Collections 246

Consumer Finance

OCTOBER 14, 2024

The CFPB and DOJ took action to end Fairway Mortgage Corporation’s illegal mortgage lending redlining against majority-Black neighborhoods in the greater Birmingham, Alabama area.

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Account Recovery

OCTOBER 14, 2024

A new study from Achieve highlights the fragile state of many household finances in the U.S. It reveals that 42% of consumers see their primary bank account dip below $50 at least once a month, while 30% have no financial safety net for a $5,000 emergency, underscoring the challenges facing millions of Americans. Why It Matters: With 56% of respondents reporting a major financial hardship in the past year, ranging from job loss to medical expenses, the report demonstrates how unplanned expenses

Banks 246

Banks 246

Consumer Finance

OCTOBER 14, 2024

Director Chopra delivered remarks about the asset management oligopoly at Harvard Law School.

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Banks 76

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

OCTOBER 14, 2024

Judge Dismisses FDCPA Case Over Request for Email Communication Only More Than 40% of Consumers Regularly Have Less than $50 Bank: Survey Plaid Rolls Out Pay by Bank for Bill Payments Compliance Digest – October 14 WORTH NOTING: Halloween tricks to make you the envy of everyone in your neighborhood … Six things to add to your diet if you are looking to reduce your chances of getting cancer … A lot of people in the middle class are pessimistic about their financial situations …

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Banks 130

Account Recovery

OCTOBER 14, 2024

Plaid, a fintech leader in bank account connectivity, has launched a new solution called “Pay by Bank for Bill Pay” designed to increase ACH payment adoption and reduce processing costs for billers. Why it matters: With card processing fees eating into profits, billers are seeking more cost-effective payment methods. ACH payments can save up to 40% in processing costs compared to cards, but adoption has been hindered by poor user experiences.

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Banks 130