Wed.Apr 24, 2024

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Daily Digest – April 24. Judge Remands Collection Lawsuit Back to State Court; FTC Enacts Ban on Noncompete Clauses

Account Recovery

Judge Remands Collection Lawsuit Back to State Court FTC Enacts Ban on Noncompete Clauses Walmart-Backed Fintech Starts Offering BNPL Services 25 Companies Seeking Collection Talent Attorney Issa K.

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Timeshare Company closed down due to huge fraud

UK debt collections

A Timeshare risk management company which claimed to help people exit their timeshare contracts in Tenerife has been shut down leaving clients at a loss Timeshare Legals Limited was wound-up following investigations by the Insolvency Service which found no proper accounting records, hundreds of clients left with unfulfilled claims and the transfer of client funds to a company in Spain with the same name, Timeshare Legals SL, and the same director, creating a lack of transparency.

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Judge Remands Collection Lawsuit Back to State Court

Account Recovery

In most Fair Debt Collection Practices Act cases that are started in state court and then removed to federal court, it is the defendant — usually a collection operation of some kind — that is seeking to have the case heard before a federal judge. This time, it’s the other way around.

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Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Reviewing Investments in and Takeovers of Banks

Consumer Finance

As Americans suddenly realized they could not withdraw their funds from Sam Bankman-Fried’s FTX in November 2022, they wondered whether they would ever get their money back. In FTX’s bankruptcy filing was an unusual item: a deposit account held by FTX worth roughly $50 million at Farmington State Bank.

Banks 55
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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

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?

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FTC Enacts Ban on Noncompete Clauses

Account Recovery

The Federal Trade Commission yesterday announced the issuance of a final rule that bans noncompete clauses nationwide, although the regulator did soften its stance on the usage of noncompetes for senior executives. The rule will go into effect 120 days after it is published in the Federal Register.

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Walmart-Backed Fintech Starts Offering BNPL Services

Account Recovery

Want more proof that the Buy Now, Pay Later (BNPL) craze isn’t going away anytime soon? A fintech company backed by Walmart has started offering BNPL inside some of the retail giants brick-and-mortar stores on purchases of at least $100.

Retail 130
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Apparel retailer Express files for US bankruptcy protection, to close over 100 stores

Collection Industry News

April 22 (Reuters) – Fashion retailer Express Inc (EXPR.PK), opens new tab has filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday. The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a filing with the bankruptcy court in Delaware.

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Attorney Issa K. Moe Rejoins Moss & Barnett

Account Recovery

Moss & Barnett is pleased to announce that attorney Issa K. Moe has rejoined the firm. Issa returns to the firm after serving as General Counsel for ACA International, a trade association for the accounts receivable management industry.

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Member Spotlight: Setting a Strong Foundation

NACM

The goal for B2B credit managers is to wisely offer credit to customers, minimize nonpayment risk and foster business relationships. It is through NACM's Professional Certification Program, that credit professionals are able to learn or re-educate themselves on various aspects of trade credit, becoming a more efficient credit leader in the process.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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25 Companies Seeking Collection Talent

Account Recovery

During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.