Account Recovery
OCTOBER 13, 2023
The Minnesota State Bar has released a report calling for an overhaul of the legal collections process in the Land of 10,000 Lakes. Consumers are too often confused about how to pay back debts and collection lawsuits disproportinately affect consumers with low-incomes and minorities. A copy of the report can be accessed by clicking here.
FFGN COLLECT NY
OCTOBER 13, 2023
New York’s real estate industry is highly competitive. It is inevitable to face various disputes and conflicts, whether in contract disagreement or property boundary disputes. When this happens to you, ensure you know how to handle these conflicts to keep your investments flowing. Keep reading to discover how arbitration and mediation can help you in this scenario and how to use them to your advantage.
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Account Recovery
OCTOBER 13, 2023
Collector Facing FDCPA Class Action Over Undated MVN 3rd Circuit Issues Precedential Ruling on Standing; Vacates Certification of Class in FDCPA Suit TransUnion to Pay $23M to Settle Enforcement Actions with CFPB Report Calls for Overhaul to Minnesota Legal Collections System WORTH NOTING: Details to get you ready for tomorrow’s “Ring of Fire” solar eclipse […]
Troutman Sanders
OCTOBER 13, 2023
On October 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion regarding § 1034(c) of the Consumer Financial Protection Act (CFPA), which requires large banks and credit unions to comply in a timely manner with consumer requests for information concerning their accounts. This advisory opinion follows a June 2022 request for information where the CFPB asked for public input on customer service obstacles encountered when interacting with large financial institu
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 13, 2023
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?
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
OCTOBER 13, 2023
In a case that was defended by David Shaver at Surdyk, Dowd & Turner, the Court of Appeals for the Third Circuit yesterday ruled that a plaintiff must allege more than being confused by a collection letter to have standing to sue, but also ruled that the plaintiff in this particular case did have standing […]
Troutman Sanders
OCTOBER 13, 2023
Yesterday, the U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) (collectively, the agencies) issued a joint statement on the subject of creditors’ use of immigration status for eligibility for credit transactions, an issue that has been kicking around in private litigation for years, but as to which the federal regulators have been silent.
Account Recovery
OCTOBER 13, 2023
The Consumer Financial Protection Bureau and the Federal Trade Commission yesterday announced a settlement with TransUnion Rental Screening Solutions, a unit of TransUnion, that will see the company pay $15 million after it was accused violating the Fair Credit Reporting Act by failing to ensure the accuracy of tenant screening reports and withheld from renters […]
Collection Industry News
OCTOBER 13, 2023
The U.S. national debt topped $33 trillion for the first time ever on Monday, crossing a critical milestone at a time when government spending is already under scrutiny. The national debt – which measures what the U.S. owes its creditors — hit $33.04 trillion as of Monday afternoon, according to new data published by the Treasury Department. By comparison, just four decades ago, the national debt hovered around $907 billion. “The United States has hit a new milestone that no one will be pr
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.
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