This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
New York Gov. Kathy Hochul this week signed a sweeping package of bills to enhance consumer data protection in New York into law. While the package tackles various digital safety issues, one law stands out for debt collection professionals: S5703B/A1035B, which bans the use of social media platforms for debt collection. The details: The newly enacted law prohibits debt collectors from using social media platforms to communicate with consumers about unpaid debts.
Today, the CFPB sued Walmart and Branch Messenger for forcing delivery drivers to use costly deposit accounts to get paid and for deceiving workers last mile drivers in Walmarts Spark Driver programabout how they could access their earnings.
In the financial technology sector, there are many services that individual companies, known as fintechs, can specialize in. For one such fintech, their focus was powering money for people and businesses through electronic funds transfer and international money transfers. As the company grew, so did the challenges associated with managing past due accountsa crucial aspect of maintaining a healthy financial operation.
Watching your debtor continue business as usual while they owe you money can be incredibly frustrating. You have a judgment in hand, yet your debtor seems unfazed, conducting transactions and collecting payments without a second thought to what they owe you. Its enough to make any business owner in Massachusetts feel powerless. The good news is that you are not powerless.
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.
A District Court judge in Michigan has denied a defendant’s motion to dismiss and stayed a case in which the defendant is accused of violating the Fair Debt Collection Practices Act and state law in Michigan while a state court determines whether or not the underlying debt is for personal or business reasons. The background: Back in 2021, the plaintiff attempted to purchase an automobile.
The CFPB sued Rocket Homes to stop providing incentives to real estate brokers and agents in exchange for steering homebuyers to Rocket Mortgage for loans.
Sign up to get articles personalized to your interests!
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
The CFPB sued Rocket Homes to stop providing incentives to real estate brokers and agents in exchange for steering homebuyers to Rocket Mortgage for loans.
Creating a Life Free From the Burden of Unpaid Debt Bankruptcy can be a way out for many people struggling with debt. It offers a chance to start fresh. But not all debts can be wiped away. Understanding what debts bankruptcy can eliminate is important. This where knowing Colorado unsecured debt examples can be helpful. Unsecured debt is a type of debt that is not backed by collateral.
Corporate bankruptcies rose sharply in 2024, driven by high interest rates and lingering pandemic-era debt. As many as 686 companies filed for bankruptcy as of Dec. 23, the most for any year since 2010, according to S&P Global Market Intelligence. Electric vehicle makers continued to struggle with weakening demand, with Fisker and Northvolt filing for chapter 11 protection, following the 2023 collapses ofLordstown Motorsand Proterra.
In an industry often plagued by high turnover and inconsistent performance, the ability to identify and nurture top-tier collections talent can feel like searching for a needle in a haystack. The need for skilled, resilient collectors has never been more crucial. But with the right process and procedures in place, identifying great collectors can feel less like winning the lottery and more like coming across teenagers with their faces in a screen whose favorite hobby is rolling their eyes at you
Exemption laws, which protect a debtors income and assets in the event of a judgment or collection lawsuit are in the spotlight following the release of an annual report from the National Consumer Law Center, which attempts to shed light on what the advocacy group perceives to be the inadequacies of these protections. Whats new: The NCLC report evaluates state exemption laws across five areas: wages, homes, vehicles, bank accounts, and household goods.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Zillennials, individuals born between 1991 and 1999, are influencing payment preferences as their spending power grows. This tech-savvy generation favors digital wallets, eschews cash, and is cautious with credit cards. For professionals in the credit and collection industry, understanding these preferences is critical to meeting consumers where they are.
The Consumer Financial Protection Bureau on Friday announced it had filed a lawsuit against Zelles operator, Early Warning Services (EWS), and three of its co-owning banks JPMorgan Chase, Bank of America, and Wells Fargo alleging widespread failures in protecting consumers from fraud. The suit claims customers of the three banks have lost over $870 million since Zelles 2017 launch due to insufficient safeguards against scams on the payment platform.
A District Court judge in New York has essentially split the difference in awarding attorney’s fees to the plaintiff in a Fair Debt Collection Practices Act case because both sides could not come to an agreement on their own after the plaintiff accepted an offer of judgment. The background: The plaintiff initiated the case in January 2024, alleging that the defendant violated the FDCPA by using deceptive methods to collect a debt, including false representations and unfair practices.
I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de
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.
A 34-year-old man has been arrested in Texas and charged with sending threatening interstate communications after vowing to assassinate executives at Capital One over an unpaid debt of $543. Taylor Bullard, a Houston resident, is accused of sending an email earlier this month that threatened violence, claiming the debt was a mistake and ruined his life.
Companies are tapping Houstons bankruptcy court by setting up minimal business ties, such as a co-working address or hastily formed entities, to capitalize on debtor-friendly laws. In November, two Swedish companiesdebt collector Intrum and electric-vehicle battery maker Northvoltfiled for bankruptcy in Houston, seeking to access the benefits of chapter 11.
For a score with a range between 300 and 850, a credit score of 670 to 739 is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750. In 2023, the average FICO score in the U.S. reached 715, according to Experian. The credit scores of Americans’ skyrocketed during the Covid pandemic in an unexpected benefit of the upheaval.
Collector Sued After Consumer Refuses to Pay Debt Because Interest Rate was Stupid Judge Denies MTD, Stays FDCPA Case Over Whether Debt was for Business or Personal Use DOGEs Ramaswamy Echoes Musk in Call to Eliminate CFPB Texas Man Arrested for Threatening Cap One Execs Over $543 Debt WORTH NOTING: Remembering those we lost in 2024 … Mystery solved: how the McAllisters made their money in “Home Alone” … How Americans feel about the economy heading into 2025 … A phi
Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!
Getting to Know Dixie Newsome of Crown Asset Management Judge Splits Difference in FDCPA Plaintiffs Attorney Fee Award NCLC Report Calls Out States for Lax Exemption Laws New York Bans Social Media Debt Collection WORTH NOTING: When to let go of family traditions in favor of starting new ones … A social media post has sparked an online debate about carry-on luggage… Not necessarily the case for me, but a look at why anxiety tends to be worse at night for people … The top cybers
Suit Seeks $6k for Not Honoring Cease Request CFPB Continues Aggressive Enforcement Trend With Two New Lawsuits Zillennials Reshaping Payment Trends: Report The FCC Under Brendan Carr: What to Expect WORTH NOTING: A keyboard that costs as much, and more, than some computers … Tips to help you get better rest during the holiday season … The top mistakes that may expose your financial information to cybercriminals … The best new apps of 2024 … Macaulay Culkin came very clos
EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
The Consumer Financial Protection Bureau yesterday announced it had filed two lawsuits against Rocket Homes and Walmart accusing one of of an alleged kickback scheme and the other of forcing employees to open costly products in order to get paid. The suits underscore the Bureau’s intensified focus on protecting consumers from anti-competitive practices and deceptive behaviors.
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.
The Biden administration on Friday approved $4.28 billion in student loan forgiveness for nearly 55,000 public service workers, while simultaneously withdrawing two proposed rules aimed at expanding federal student loan relief for borrowers facing hardship. Why it matters: This is considered to be the last round of debt relief that the Biden administration will undertake before leaving office next month.
The Wall Street Journal offers an insightful profile of Brendan Carr, the newly appointed chair of the Federal Communications Commission in the Trump administration, who is shaping up to be a pivotal figure in telecom regulation. His agenda combines deregulation, an activist stance on conservative censorship, and policies favoring rapid technological deployment, including initiatives that could impact communication channels central to collection efforts, according to the report.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Input your email to sign up, or if you already have an account, log in here!
Enter your email address to reset your password. A temporary password will be e‑mailed to you.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
130 
Let's personalize your content