Account Recovery

DECEMBER 26, 2024

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.

Collections 130

Collections Debt collector 130

Consumer Finance

DECEMBER 22, 2024

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.

Loans 141

Loans 141

True Accord

DECEMBER 23, 2024

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.

Collections 72

Collections 72

Collections Law

DECEMBER 27, 2024

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.

Debtor 52

Debtor Lawyers Judgment Collections 52

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.

Account Recovery

DECEMBER 27, 2024

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.

Fair Debt Collection 130

Fair Debt Collection Collections 130

Account Recovery

DECEMBER 26, 2024

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.

Debtor 130

Debtor Judgment Banks Collections 130

Account Recovery

DECEMBER 23, 2024

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

Collections 130

Collections Creditors 130

Account Recovery

DECEMBER 27, 2024

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!

Fair Debt Collection 130

Fair Debt Collection Collections 130

Account Recovery

DECEMBER 24, 2024

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.

Retail 130

Retail Collections 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

Account Recovery

DECEMBER 23, 2024

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.

Banks 130

Banks Financial Institution Debt collector 130

Account Recovery

DECEMBER 26, 2024

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.

Fair Debt Collection 130

Fair Debt Collection Judgment Collections 130

Account Recovery

DECEMBER 26, 2024

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

Construction 130

Construction Collection Agencies Collections Agency Collections 130

Account Recovery

DECEMBER 27, 2024

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.

130

130

Advertisement

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.

Collection Agencies

Account Recovery

DECEMBER 24, 2024

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!

Fair Debt Collection 130

Fair Debt Collection Collections 130

Account Recovery

DECEMBER 24, 2024

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.

Collections 130

Collections 130

Account Recovery

DECEMBER 27, 2024

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

130

130

Account Recovery

DECEMBER 26, 2024

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

Collections 130

Collections 130

Speaker: Erika R. Bales, Esq.

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.

Account Recovery

DECEMBER 24, 2024

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

130

130

Account Recovery

DECEMBER 24, 2024

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.

Collections 130

Collections 130

Account Recovery

DECEMBER 23, 2024

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.

Financial Institution 130

Financial Institution Credit Unions Credit Unions Banks 130

Account Recovery

DECEMBER 23, 2024

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.

Student loans 130

Student loans Student Loans Loans 130

Speaker: Genevieve Hancock, CPA

Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?

Financial services

Account Recovery

DECEMBER 23, 2024

Biden Administration Cancels $4.3B in Student Loans While Scrapping Proposed Debt Relief Rules Identifying and Nurturing Top Performing Collectors: Insights from Industry Experts CFPB Targets Zelle and Major Banks Over Fraud Allegations Compliance Digest December 23 WORTH NOTING: It’s likely that a lot of your employees and co-workers are taking shortcuts with respect to information and data security … How to be on the lookout for, and treat, seasonal affective disorder … Seve

Student loans 130

Student loans Student Loans Loans Banks 130

Account Recovery

DECEMBER 27, 2024

What is it with the leaders of the Department of Government Efficiency and making comments about the future of the Consumer Financial Protection Bureau during holidays? After Elon Musk proposed deleting the CFPB during the Thanksgiving Day weekend, his DOGE compatriot, Vivek Ramaswamy on the day after Christmas released a post on social media saying that the CFPB’s policies have harmed consumers and that its overreach needs to be nullified.

Student Loans 130

Student Loans Student loans Banks Government 130