Account Recovery

JANUARY 2, 2025

Getting to Know Mara Morgan of Account Recovery Specialist Inc. Autopay Disruption Leads Judge to Deny MJOP in FCRA Case Credit Card Defaults Soaring, Highlighting Consumer Financial Strain in 2025 iWallet Introduces Voice AI for Payments, Aims to Revolutionize Digital Transactions WORTH NOTING: Here is a list of 25 fun and practical ideas to use as resolutions for 2025 … Babies being born this year are being born into a new generation … How much ransomware costs companies in terms o

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Consumer Finance

DECEMBER 29, 2024

Statement of CFPB Director Rohit Chopra on developments regarding large asset manager ownership of banks.

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Account Recovery

JANUARY 2, 2025

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

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Account Recovery

JANUARY 2, 2025

A District Court judge in Illinois has denied a defendant’s motion for judgment on the pleadings in a Fair Credit Reporting Act case that stemmed from the defendant disabling the autopay feature on the plaintiff’s account, after it had been used to make 95 monthly payments in a row. The background: The plaintiff opened a credit card with the defendant in 2015 and established autopay for his account.

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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

JANUARY 2, 2025

Defaults on credit card debt have surged to their highest levels since the 2008 financial crisis, signaling worsening financial conditions for lower-income consumers amid persistent inflation and elevated interest rates. By the numbers: The big picture: Consumers are feeling the pinch as higher balances and borrowing costs erode their financial stability: Between the lines: The pandemic-era surge in savings and consumer spending gave credit card issuers confidence to extend credit to riskier bor

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Account Recovery

DECEMBER 31, 2024

A state appeals court in Washington has affirmed an attorney’s fee award for the plaintiff in a debt collection case, agreeing with the lower court that counterclaims brought by the defendant, a collection operation, were frivolous. The background: The case originated from allegations that the defendant, a licensed debt collection agency, attempted to collect an amount of interest exceeding what was permitted by a previous judgment.

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Account Recovery

DECEMBER 30, 2024

A District Court judge in Minnesota has awarded 25% of the attorney’s fees sought by the plaintiff in a Fair Debt Collection Practices Act case, ruling the plaintiff’s request unreasonable for a number of reasons. The judge awarded $11,566.63 in fees, significantly less than the $46,163.50 requested by the plaintiff’s attorneys. The background: The case stemmed from attempts to collect on a 2007 mortgage loan.

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Account Recovery

DECEMBER 31, 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!

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Account Recovery

DECEMBER 30, 2024

As the calendar gets set to turn to a new year, a number of new laws are scheduled to take effect. Here is a summary of what collection operations need to be prepared for starting as soon as January 1. [EDITOR’S NOTE: Sign up for a webinar today, December 30, to hear more on The Laws Going Into Effect in 2025 That You Need to Know About. Click here to register.

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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 30, 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.

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Account Recovery

DECEMBER 31, 2024

We’ve reached the last day on the calendar once again. We’ve made another trip around the sun. We’ve all gotten a year older. We’ve loved, we’ve lost. We’ve celebrated together and mourned together. We’ve made new friends, learned new things, made new memories. I want to take a minute and thank you for allowing me to part of your professional, and in some cases, personal lives this year.

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Account Recovery

DECEMBER 31, 2024

Collector Facing FDCPA Class-Action For Not Making Interest Disclosure in MVN Washington State Appeals Court Upholds Attorney Fee Award in Debt Collection Case 2024: A Year in Review A Thank You, From Me to You WORTH NOTING: What makes da Vinci’s “The Last Supper” such an important work of art … Explaining the tradition of a New Year’s Eve ball drop … If you choose a middle seat, you sit in the middle seat … A list of interesting facts, such as the impac

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Account Recovery

DECEMBER 30, 2024

With more than 167 million individuals affected by healthcare data breaches in 2023 alone, the Department of Health and Human Services (HHS) is taking action to address increasing cyberattacks on healthcare systems. On Friday, it announced a proposed rule aimed at enhancing the HIPAA Security Rule, compelling healthcare entities to bolster protections for electronic protected health information (ePHI).

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Collection Agencies

Account Recovery

DECEMBER 30, 2024

Judge Awards Plaintiff 25% of Requested Attorneys Fees in Settled FDCPA Case HHS Issues Proposed Cybersecurity Rule to Amend HIPAA New Laws Proposed, Passed, and Ready to Go Into Effect Compliance Digest December 30 WORTH NOTING: A look back on 2024 via photos of memorable moments … Did the worst play in NFL history happen yesterday? … Whales live a lot longer than we initially thought they did … Reactions and tributes following the death of President Jimmy Carter yesterday &#

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Account Recovery

DECEMBER 31, 2024

A lot happened in 2024 and it can be difficult to remember it all. Take this walk down memory lane by revisiting the most popular posts from each month of the year January January 2: Inconvenient Time/Channel Email Complaint Volume Increasing. I have written about this type of case before, but given the volume of new complaints that are being filed, I think it bears mentioning again because it appears that plaintiffs attorneys and consumers are not going to stop filing these kinds of suits anyt

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