Sun.Nov 17, 2024

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Will Defaulted Merchant Cash Advance Loans Smother MyPillow and Mike Lindell?

FFGN COLLECT NY

Strapped for cash, MyPillow CEO Mike Lindell took at least two merchant cash advances. Because Lindell’s companies defaulted on payments, suits were filed in New York alleging MyPillow-related entities and Mike Lindell as a personal guarantor defaulted on the loans. Sometimes businesses that do not qualify for traditional loans look for alternative forms of funding.

Loans 52
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Profit First: Hiring Your First Associate Is Law Firm Rocket Fuel

NCBA Law Practice Management Blog

If you’re a solo attorney – whether that’s a true solo (just you & no team) or a solo, with non-attorney staff help – it’s definitely a scary proposition to hire your first attorney. Some solo lawyer s , in fact, never do it. They just can’t get past the fear. But, if you can make that hire, and make it successfully, that’s like adding lighter fluid to the fire of law firm growth.

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Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Deposit Insurance Reform and the Failure of The First National Bank of Lindsay

Consumer Finance

Director Chopra submitted this statement for the record in connection with a closed meeting of the FDIC Board of Directors held on November 12, 2024.

Banks 80
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California Expands Rosenthal Act to Cover ‘Small Business’ Debt Collection

Collection Industry News

California Gov. Gavin Newsom recently signed SB 1286 amending the Rosenthal Fair Debt Collection Practices Act’s coverage to certain commercial debt. Prior to this amendment, the RFDCPA’s restrictions applied only to certain debt collectors and creditors collecting consumer debt. The amendments are effective Jan. 1, 2025. EXPANSION OF COVERED DEBT The amendments expand covered debt to include “covered commercial debt,” “covered commercial credit,” and “covered commercial credit transaction.

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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?