SimplicityCollectionSoftware
APRIL 11, 2017
Help us name our new “TOUGH GUY” Our new “tough guy” ads that will be circulating the web and traditional marketing avenues for the next little while. In an effort to revamp our marketing ideas and techniques, this tough guy was born. Since that time, we have grown quite attached to him and his vision for our company and the collection industry in general.
Fico Collections
APRIL 5, 2017
. Which works better for modeling credit risk: traditional scorecards or artificial intelligence and machine learning? Given the excitement around AI today, this question is inevitable. It’s also a bit silly. While some new market entrants may have a vested interest in pushing AI solutions, the fact is that traditional scorecard methods and AI bring different advantages to credit risk modeling — if you know how to use them together.
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Consumer Financial Services Law
APRIL 21, 2017
This week the CFPB filed suit in the Northern District of Ohio against Weltman, Weinberg & Reis, an Ohio law firm. The complaint is a continuation of the CFPB’s attack on collection law firms and their level of meaningful involvement. Similar to its enforcement action against Works & Lentz, the CFPB’s attack in Weltman is focused on prelitigation collection efforts.
Consumer Financial Services Law
APRIL 18, 2017
The CFPB has issued its 2016 Fair Lending Report which provides a summary of the Bureau’s efforts in fair lending for 2016. The Report also includes an indication of the Bureau’s fair lending priorities for 2017. Here are the highlights: · A Risk Prioritization Approach. The Report confirms that the Bureau takes a risk-based prioritization approach to supervisory and enforcement.
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Consumer Financial Services Law
APRIL 17, 2017
An Illinois district court has taken a broad view of standing under section 1692e of the FDCPA. In Koval v. Harris & Harris, Ltd., 2017 U.S. Dist. LEXIS 53124 (N.D. Ill. Apr. 5, 2017), a demand letter addressed to Michael Koval was opened and read by his daughter, Kate Koval, who serves as his legal guardian and allegedly had authority to open and read her father’s mail and make decisions on his behalf concerning the mail.
Consumer Financial Services Law
APRIL 3, 2017
A consumer who sued a debt collector over an inaccurate statement as to the amount of a settlement offer recently saw his complaint dismissed for lack of standing. In Allgire v. HOVG, LLC , the plaintiff was contacted regarding a medical debt and offered a settlement for the discounted sum of $318.00. Allgire v. HOVG, LLC , C.A. No. 1:16-cv-961, 2017 U.S.
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