Mon.Nov 27, 2023

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Compliance Digest – November 27

Account Recovery

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.

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CFPB Orders Bank of America to Pay $12 Million for Reporting False Mortgage Data

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) today ordered Bank of America to pay a $12 million penalty for submitting false mortgage lending information to the federal government under a long-standing federal law.

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Daily Digest – November 27. Appeals Court Vacates Dismissal of FDCPA Class Action Because Plaintiff Lacked Standing; Judge Denies MSJ for Defendant in TCPA Case Over Calls Made After Consent was Revoked

Account Recovery

Appeals Court Vacates Dismissal of FDCPA Class Action Because Plaintiff Lacked Standing Judge Denies MSJ for Defendant in TCPA Case Over Calls Made After Consent was Revoked Create Your Own Custom GPTs Compliance Digest – November 27 WORTH NOTING: Google is going to start deleting email accounts that haven’t been used in the past two […]

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How Much to Spend on Rent: 3 Strategies

Credit Corp

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Generally, you should aim to spend under 30% of your gross monthly income on rent. Table of Contents How Much Rent Can I Afford?

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Solve Your Firms Automation Complexities Once and For All

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.

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Judge Denies MSJ for Defendant in TCPA Case Over Calls Made After Consent was Revoked

Account Recovery

Presented with either believing a defendant claiming it never contacted a plaintiff after she retained counsel and revoked consent to be contacted or a plaintiff who said that the defendant did call four more times, a District Court judge in Nevada is siding with the plaintiff for now, choosing to put her trust in what […]

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Create Your Own Custom GPTs

Account Recovery

Earlier this month, OpenAI, the company behind ChatGPT, announced a number of new updates and upgrades to its flagship product. One of those upgrades is allowing individuals to create their own custom versions of ChatGPT, called GPTs.

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Can a Secured Creditor Refuse to Sell the Collateral?

Jimerson Firm

Any secured creditor, large or small, may encounter a situation in which it is preferable to retain or recover the collateral in a transaction without having to sell the collateral itself. The purpose of this article is to make creditors aware of what is and is not possible to do under Florida law. Below is a synopsis of what Florida courts have decided on the subject as well as the requirements secured parties must meet when choosing to accept the collateral itself in satisfaction of the obliga

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Appeals Court Vacates Dismissal of FDCPA Class Action Because Plaintiff Lacked Standing

Account Recovery

The technicalities of the legal system can be fascinating and unanticipated.

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2023 Review: Chase Freedom Unlimited®

Credit Corp

Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers. Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. The Chase Freedom Unlimited® Credit Card is ideal for those who want to earn cash back on everyday purchases.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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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Arbitration in New York Debt Collection

FFGN COLLECT NY

What are the next steps in debt collection when demand fails to produce payment of your claim? If you have a written agreement with your client, the answer may depend on the terms and conditions of that agreement. Some contracts and agreements contain clauses dictating how disputes must be resolved. For those whose agreements or terms and conditions require arbitration of disputes, including fee disputes, the next step in recovering money owed will be arbitration.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

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 22, Grayscale Investments (Grayscale) submitted an amended Form S-3 registration statement to the Securities and Exchange Commission (SEC) for its proposed Grayscale Bitcoin Trust (BTC), seeking to convert Grayscale’s existing Bitcoin Trust

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Financial Hardship Letter: Definition, Sample, and Free Template

Credit Corp

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. A financial hardship letter explains an unforeseen circumstance that has made you unable to make regular payments on a loan and requests a modification to help you get back on track.

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FTC Issues Report to Congress on the Fraud Threats Faced by Older Consumers

Troutman Sanders

On October 18, the Federal Trade Commission (FTC) issued a report to Congress in which it outlined its ongoing efforts to protect older Americans from fraud related losses. In the report, entitled Protecting Older Consumers, the FTC describes the trends it has discerned based on fraud reports submitted by adults aged 60 and over. This demographic reported losing more than $1.6 billion to fraud in 2022.

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How To Optimize Cash Flow: Your Roadmap To Resilience!

Speaker: Genevieve Hancock, CPA

Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?

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WeWork forced to file for bankruptcy in the US

Collection Industry News

WeWork, the shared office firm that was once valued at $47bn (£38bn), has been forced to file for bankruptcy in the US. The decision follows the meteoric rise – and fall – of a company which was once seen as the future of the workplace. WeWork’s filing will give it protection from its creditors and landlords as it restructures its vast debts.

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Illinois Federal District Court Grants Summary Judgment Holding Use of a Local Area Code by a Non-Local Debt Collector Does Not Give Rise to a FDCPA Claim

Troutman Sanders

In Brown v. MRS BPO, LLC , the Northern District of Illinois, acting on its own motion, granted summary judgment in favor of the defense on claims asserting violations of the Fair Debt Collections Practices Act (FDCPA). The matter involved two plaintiffs, a mother and her daughter. When the mother became delinquent on her credit card account, the creditor hired the defendant to collect the debt.