Consumer Finance
JULY 8, 2024
The CFPB took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying millions in penalties as well as paying redress to harmed consumers.
Account Recovery
JULY 8, 2024
Illinois Gov. JB Pritzker last week signed two bills into law — one aimed at erasing $1 billion in medical debt and the other prohibiting the inclusion of medical debts on credit reports. The objective of the new laws is to alleviate the financial burden of medical debt on Illinois residents.
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UK debt collections
JULY 8, 2024
A total of 879 UK businesses filed for administration in the first six months of 2024 – a 42% and 16% increase compared to 2022 and 2023 respectively, according to analysis by full-service law firm Shakespeare Martineau. Retail, manufacturing, construction , real estate and hospitality were the worst-hit sectors for the second year in a row, accounting for 57% of all administrations.
Account Recovery
JULY 8, 2024
Judge Denies MSJ for Defendant in FDCPA Class-Action Over SOL Disclosure, Call Notification in Letter Illinois Medical Debt Credit Reporting Bill Signed into Law FTC Halts Student Loan Debt Relief Scheme, Takes First Action Under New Impersonation Rule Compliance Digest – July 8 WORTH NOTING: Kids party favors that won’t get thrown out immediately upon […]
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?
TCPA
JULY 8, 2024
The Fourth Circuit Court of Appeals has recently handed down a decision that impacts the TCPA landscape. In Family Health Physical Medicine, LLC v. Pulse8, LLC, the court reversed a lower courts dismissal of a TCPA claim, adopting a broader interpretation of what constitutes an unsolicited advertisement under the Act.
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Hudson Weir
JULY 8, 2024
In this article we’ll explain who pays redundancy money when a business is a) solvent, b) trading but struggling financially and c) closing down while insolvent. Many employees have specific rights if an employer makes them redundant, depending on factors such as their length of service at the company. These can include rights to redundancy pay, a notice period, consultation, a different role in the company and time off to find a new job.
Account Recovery
JULY 8, 2024
A District Court judge in Pennsylvania has denied a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act class-action lawsuit, ruling the defendant needed to disclose that a partial payment could restart the statute of limitations on a time-barred debt and that a reference to contacting the defendant by phone for further […]
Consumer Finance
JULY 8, 2024
Since late 2021, the CFPB has been analyzing the various vectors where fraud is being perpetrated today and is identifying the new ways where we expect fraud to be perpetrated in the future. Addressing these will require a range of policy tools and private-sector action.
Account Recovery
JULY 8, 2024
The Federal Trade Commission has taken action against a student loan debt relief scheme that is accused of fraudulently extracting more than $20.3 million from consumers.
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.
On Guard
JULY 8, 2024
Download the fintech baropaper Manual debtor management a reality for two in ten finance professionals Two in ten finance professionals (18%) do not use debtor management tools. This is according to the FinTech Barometer, the annual survey by credit management software specialist Onguard, for which 304 CFOs, finance managers and finance staff were surveyed.
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