Account Recovery
NOVEMBER 13, 2023
The Department of Education has announced a new plan to hold student loan servicers accountable for not harming individuals with stiff penalties that the department has already shown it is willing to put into practice.
Jimerson Firm
NOVEMBER 13, 2023
While not all incidents of theft are prosecuted in the criminal system, Florida’s civil system has two causes of action that allow a person or entity to pursue the theft of either money or personal property. These two causes of action are Conversion and Civil Theft, and while they are similar in some regards, there are also stark differences that affect important aspects of a claim, such as the amount of damages available and a plaintiff’s burden of proof.
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Account Recovery
NOVEMBER 13, 2023
In the fast-paced and often high-pressure world of today’s collection industry, retaining new hires is a multifaceted challenge. Companies are increasingly recognizing the need to blend flexibility, engagement, and support to keep their workforce motivated and productive, experts discussed during a recent webinar that was sponsored by Peak Revenue Learning.
True Accord
NOVEMBER 13, 2023
The New York City Department of Consumer and Worker Protection (NYC DCWP) just released an updated proposed amendment to its rules relating to debt collection. This updated amendment changes significantly more than the first proposed amendment released by NYC DCWP last year. Interestingly, this update contains revisions that are similar to the New York Department of Financial Services (NYDFS) proposed amendments to New York’s debt collection law, 23 NYCRR 1, that NYDFS released last year.
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
NOVEMBER 13, 2023
A plaintiff is going to have to work hard to demonstrate that she was involved in filing a Fair Debt Collection Practices Act case against a collection operation and that she had a valid basis for the claims, according to the ruling from a New Jersey judge.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
NOVEMBER 13, 2023
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
Troutman Sanders
NOVEMBER 13, 2023
A California state court recently denied a preliminary injunction sought by the California Department of Financial Protection and Innovation (the DFPI) in its long-running litigation against Opportunity Financial (OppFi) contending that OppFi is the “true lender,” and therefore subject to usury limits, on loans originated by OppFi’s bank partner. The court found that on the factual record before it that the DFPI had not shown a reasonable probability of prevailing on the merits of its claim.
Account Recovery
NOVEMBER 13, 2023
Judge Partially Grants Motion for Attorney’s Fees Against Plaintiff in FDCPA Case Retaining New Hires in the Collection Industry: A Blend of Flexibility, Engagement, and Support DoE Launches New Plan to Hold Student Loan Servicers More Accountable Compliance Digest – November 13 WORTH NOTING: Six movies that deserve to have a sequel … Why you […]
Troutman Sanders
NOVEMBER 13, 2023
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 November 9, while at the New York Bankers Association’s Financial Services Forum, Federal Reserve Governor Michelle Bowman spoke about the current state of the banking regulatory framework and disclosed that “[t]he current framework represents a ris
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.
Collection Industry News
NOVEMBER 13, 2023
Americans now owe $1.08 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances spiked by $154 billion year over year, notching the largest increase since 1999, the New York Fed found. “Credit card balances experienced a large jump in the third quarter, consistent with strong consumer spending and real GDP growth,” said Donghoon Lee, the New York Fed’s economic research advisor.
Consumer Finance
NOVEMBER 13, 2023
Force-placed insurance was a noteworthy facet of the foreclosure crisis in 2007-2008, and remains a continuing risk for homeowners. The CFPB is responsible for enforcing mortgage servicing rules related to force-placed insurance.
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