Tue.Jul 16, 2024

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More Americans Living Paycheck to Paycheck: Survey

Account Recovery

More than 1 in 3 American workers are living paycheck to paycheck, with little-to-no money left for savings after covering monthly expenses, according to a new survey from Bankrate.

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Prepared Remarks of CFPB Director Rohit Chopra on Emerging Paycheck Advance Products

Consumer Finance

Director Chopra delivered remarks on a press call to discuss the CFPB’s proposed interpretive rule on emerging paycheck advance comments.

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A Summary of Comments on Medical Debt Credit Reporting Proposal

Account Recovery

Comments are currently being accepted regarding the Consumer Financial Protection Bureau’s proposed rule that would prohibit creditors from using medical debts when determining whether a consumer is eligible for credit. The comment period is open until August 12.

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Agencies Issue Final Rule to Help Ensure Credibility and Integrity of Automated Valuation Models

Consumer Finance

Six federal regulatory agencies today issued a final rule, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, designed to help ensure the credibility and integrity of models used in valuations for certain mortgages secured by a consumer’s principal dwelling.

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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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Daily Digest – July 16. Bank, Collection Law Firm Facing FDCPA Class Action Over Reviving Dormant Judgments; More Americans Living Paycheck to Paycheck: Survey

Account Recovery

Bank, Collection Law Firm Facing FDCPA Class Action Over Reviving Dormant Judgments Judge Denies MSJ For Defendant in FCRA, FDCPA Case Over Disputed Debt More Americans Living Paycheck to Paycheck: Survey A Summary of Comments on Medical Debt Credit Reporting Proposal WORTH NOTING: The best Prime Day deals available so far … The best video […]

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Bank, Collection Law Firm Facing FDCPA Class Action Over Reviving Dormant Judgments

Account Recovery

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?

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Rogue Insolvency firm shut down by Courts

UK debt collections

A court has wound up a Manchester firm which offered unlicensed Insolvency Practitioner (IP) services. Save Consultants Ltd claimed to provide insolvency practitioner services when none of its current or former directors were licensed. Its actions risked undermining the insolvency regime and the company’s directors refused to explain its trading practices to investigators The company has been closed down following investigations by the Insolvency Service , with the Official Receiver appointed to

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Judge Denies MSJ For Defendant in FCRA, FDCPA Case Over Disputed Debt

Account Recovery

A District Court judge in Alabama has denied a defendant’s motion for summary judgment in a Fair Credit Reporting Act and Fair Debt Collection Practices Act case, ruling the defendant did not do enough to determine whether the debt in question was validly due and owing after the plaintiff filed a dispute.

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Oracle Agrees to $115 Million Settlement in Consumer Privacy Lawsuit

Collection Industry News

Oracle has agreed to a settlement in a consumer privacy lawsuit that dates back to 2018, offering to pay out $115 million in total for the sale of user data to third parties. The lawsuit alleged that Oracle made $42.5 billion annually by surreptitiously creating “dossiers” on millions of people that it sold off to both private and government parties.

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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.