Account Recovery

JANUARY 7, 2025

The Consumer Financial Protection Bureau this morning announced the release of its final rule prohibiting the inclusion of medical debt on consumer credit reports. This rule is expected to remove $49 billion in medical debt from credit reports, impacting approximately 15 million consumers. Additionally, it bars lenders from considering medical information in credit decisions, addressing concerns about the fairness and accuracy of medical debt in credit assessments.

Lender 246

Lender Consumer Credit Loans Healthcare 246

True Accord

JANUARY 7, 2025

The terms “omnichannel” and “multi-channel” are frequently used to describe consumer outreach strategies, and while they may sound similar, the differences between these approaches are crucial, especially for effective debt collection. Lets break down the key differences between omnichannel and multi-channel communications, particularly in the context of debt collection, and why these distinctions matter more than ever.

Collections 83

Collections Debtor 83

Account Recovery

JANUARY 7, 2025

Ask a group of people to sum something up in one word and it paints an interesting picture. The words used by a handful of professionals from across the credit and collection industry to describe 2024 paint a picture of hope, of optimism, of an excitement for what the future is going to bring. Check out what has these executives so stoked about what happened in 2024 and what it will mean in 2025.

Acquisition 130

Acquisition Collections 130

Consumer Finance

JANUARY 7, 2025

The CFPB issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPBs Personal Financial Data Rights rule.

Banks 61

Banks 61

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

Account Recovery

JANUARY 7, 2025

EDITORS 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? Call (855) WEB-RECON or email admin@webrecon.net today!

Credit Card Debt 130

Credit Card Debt Fair Debt Collection Collections 130

Account Recovery

JANUARY 7, 2025

BREAKING NEWS: CFPB Releases Final Medical Debt Credit Reporting Rule Collector Facing FDCPA Class-Action for Repayment Plan Names that Confused Plaintiff Summing Up 2024 in One Word CFPB Sues Mobile Home Lender for Setting Families Up to Fail WORTH NOTING: Hacks to help you make a better to-do list … Signs you might be living with ADHD and not realize it … Nearly 3 million people are getting boosts to their Social Security checks … Surveying the credit card landscape … W

Lender 130

Lender 130