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The Consumer Financial Protection Bureau yesterday announced a $2.25 million civil penalty against New Day Financial for deceiving veterans and active-duty servicemembers in connection with cash-out refinance loans. This action comes after the CFPB found that the lender provided misleading cost comparisons to borrowers in North Carolina, Maine, and Minnesota, falsely making its loans appear less expensive than they were.
A business credit score is crucial for your company's financial health and reputation. It reflects your ability to manage credit responsibly and can impact your ability to secure financing, negotiate favorable terms with suppliers, and attract potential business partners. A strong business credit score demonstrates your reliability as a borrower and opens up opportunities for growth and expansion.
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? Call (855) WEB-RECON or email admin@webrecon.net today!
When you’re struggling to collect on a business debt, sometimes, you need to rely on effective tools and creative strategies. Our aggressive and relentless commercial collections attorneys have more than 50 years of combined experience. They employ innovative and ethical debt collection tactics, as allowed under state and federal laws to facilitate payments for their clients in Massachusetts.
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?
In a case that was defended by the team at Martin Golden Lyons Watts Morgan, a District Court judge in Oklahoma has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling the defendant did not violate the statute when it contacted the plaintiff and left a voicemail at roughly the same time of day that the plaintiff had previously indicated that it wasn’t “a good time to talk.” The background: The plaintiff received a call from the defend
A Collection Agency means a person who engages directly or indirectly in the business of collecting for, or soliciting from another, a consumer claim; or collecting a consumer claim the person owns, if the claim was in default when the person acquired it. A collection agency also includes a person who gives, sells, attempts to give or sell to another, or uses, for collection of a consumer claim, a series or system of forms or letters that indicates directly or indirectly that a person other than
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A Collection Agency means a person who engages directly or indirectly in the business of collecting for, or soliciting from another, a consumer claim; or collecting a consumer claim the person owns, if the claim was in default when the person acquired it. A collection agency also includes a person who gives, sells, attempts to give or sell to another, or uses, for collection of a consumer claim, a series or system of forms or letters that indicates directly or indirectly that a person other than
California is poised to become the eighth state to ban medical debt from appearing on credit reports, pending Gov. Gavin Newsom’s signature. Both houses of the state legislature have passed SB 1061, although there were some amendments, to the disappointment of the bill’s sponsor, that changed how medical debt is defined under the proposal.
Suit Accuses CRAs, Collection Operation of Not Investigating Dispute on Three Occasions Judge Grants MTD in FDCPA Case Over Whether ‘Not a Good Time to Talk’ Made Future Calls Inconvenient California Legislature Sends Medical Debt Credit Reporting Bill to Governor for Approval CFPB Fines Lender $2.25M for Misleading Veterans on Loan Costs WORTH NOTING: This weekend, sleep in.
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