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.

Banks 144

Banks Repossession Loans 144

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.

Healthcare 130

Healthcare 130

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.

Retail 76

Retail Manufacturing Construction Law Firms 76

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 […]

Student Loans 130

Student Loans Student loans Loans 130

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.

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.

Trade 52

Trade Government Loans 52

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.

Education 52

Education 52

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 […]

Fair Debt Collection 130

Fair Debt Collection Judgment Collections 130

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.

Credit Management 52

Credit Management Debtor Accounts Receivables Management Collection Agencies 52

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.

Student Loans 130

Student Loans Student loans Loans Trade 130

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.

Banks