FFGN COLLECT NY
JULY 3, 2023
Can you sue a company that doesn’t exist? Let’s say your company has unknowingly been selling goods to a fake corporate entity called “ABC INC.” From all indications, ABC INC. complies with all aspects of corporate formalities. All purchase orders are issued under ABC INC.’s name at ABC INC.’s corporate address, and all payments are issued from ABC INC.’s corporate account.
Account Recovery
JULY 6, 2023
The Connecticut Department of Banking has assessed a $30,000 fine and barred a collection operation from the state for three years after it was alleged to have collected in the state without the proper license.
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CICM
JULY 7, 2023
A business is only as good as the team behind it. So, it’s worth investing in your company’s most important asset – its people. Training is proven to empower individuals, enhance in-house knowledge, upskill and modernise productivity and boost your organisation’s profile to create a high-performing team. In today’s Credit Management and Collections industry, teams are faced with new challenges.
Troutman Sanders
JULY 6, 2023
Please join Troutman Pepper Partner Chris Willis and colleagues Keith Barnett, Carlin McCrory, and Josh McBeain as they discuss the Consumer Financial Protection Bureau’s (CFPB) larger participant rule for consumer payments mentioned in its 2023 semi-annual rulemaking agenda. During this podcast, they examine a myriad of topics concerning this rule, including the following: The current trend of CFPB supervision and why the CFPB is proposing this larger participant rule; The influence on the subs
Speaker: Anna Tiomina, MBA
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Consumer Finance
JULY 6, 2023
The CFPB, HHS, and U.S. Department of Treasury launched an inquiry into high-cost specialty financial products, such as medical credit cards and installment loans, that are pushed on patients as a way to pay for routine medical care and which drive up health care costs and medical debt.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Enterprise Recovery
JULY 7, 2023
B2B (business-to-business) and B2C (business-to-consumer) debt collections are different. Agencies that collect from individuals will use different collection tactics and are subject to harsher regulations than those that collect from businesses. Often these agencies choose to separate consumer collections from commercial collections because the processes vary.
Nexa Collect
JULY 3, 2023
Improving the efficiency of remote employees is crucial for the success of any business operating with a distributed workforce. Here are some steps and strategies that managers and organizations can use to enhance the efficiency of their remote employees: Set Clear Expectations : Clearly communicate the tasks, objectives, and deadlines. Ensure that remote employees know what is expected of them.
Fraser
JULY 5, 2023
On June 13, 2023, the National Labor Relations Board (“NLRB”) ruled in the closely watched The Atlanta Opera, Inc. case, restoring the multifactor common-law framework the NLRB established in 2014 for worker classification. The ruling is significant because: It establishes the test for classifying workers as either employees or independent contractors under the National Labor Relations Act (“NLRA”); The test—a return to pre-2019 standards—makes it harder to classify workers as independent contra
Account Recovery
JULY 7, 2023
EDITOR’S 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?
Speaker: Melissa Hurrington
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.
UK debt collections
JULY 5, 2023
The latest research analysis by Price Bailey (Accountancy firm) shows that restaurants closing is at its highest rate in a decade for the first three months of the year. A total of 569 restaurant businesses filed for insolvency in the first quarter of 2023, an average of 5.6 per day. The Quarter 1 data shows that over the last 12 months, 2,028 restaurants have closed.
Troutman Sanders
JULY 7, 2023
On June 28, Connecticut Governor Ned Lamont signed into law Senate Bill 1032 entitled An Act Requiring Certain Financing Disclosures , which requires certain providers of commercial financing to make various disclosures and requires providers and brokers to register. Connecticut now joins states like Utah, California, Georgia, New York, Florida, and Virginia (discussed here , here , here , here , here , and here ) in requiring such disclosures.
Fico Collections
JULY 6, 2023
Home Blog Feed test FICO World 2023: Four Enterprise Fraud Management Takeaways Enterprise fraud management was a big topic at FICO World 2023, and this post explores four key themes that presenters and attendees discussed at the event Thu, 02/09/2023 - 10:23 Pawel Pasik by Debbie Cobb Senior Director, Product Management expand_less Back to top Thu, 07/06/2023 - 09:05 In May, I was fortunate to be at FICO World 2023 in Hollywood, Florida.
Account Recovery
JULY 7, 2023
The Court of Appeals for the Ninth Circuit has granted an en banc rehearing request filed by a collector in a Fair Debt Collection Practices Act case, and will determine for itself whether the plaintiff had standing to file his lawsuit in the first place, rather than remanding the case back to the District Court […]
Speaker: Susan Richards
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.
Sawin & Shea
JULY 5, 2023
When debt overshadows savings that’s scary enough. But for some, it’s even more frightening because they are also trying to make payments against astronomical bills, often medical or job loss related that continue to stack up with no signs of stopping. Declaring Chapter 7 bankruptcy may be the best solution in cases like this. People can get a discharge relating to most types of debts in a perfectly legal and fiscally responsible way, and also get a chance to get a fresh start.
Troutman Sanders
JULY 7, 2023
As shown by a new report, the Consumer Financial Protection Bureau (CFPB or Bureau) is focusing its fair lending work on mortgage origination and pricing, small business lending, redlining, and the use of artificial intelligence (AI) and machine learning models. On June 29, the CFPB released its annual Fair Lending Report (Report) to Congress describing its fair lending enforcement and supervisory activities, guidance, and rulemaking for calendar year 2022.
Fico Collections
JULY 5, 2023
Home Blog Feed test 5 Ways Subscription Fraud Attacks Telcos - and How to Fight Back Criminals are exploiting subscription fraud and using it as a gateway to other crimes - here's FICO's advice on how to stop it Wed, 03/08/2023 - 22:14 jessica shortt by Fernando Lopez Senior Director, Sales expand_less Back to top Wed, 07/05/2023 - 10:35 Though subscription fraud may not be the most common type of fraud that communications service providers suffer any longer, the problem has still grown since 20
Account Recovery
JULY 6, 2023
GETTING TO KNOW NOEL CRICHTON OF CKS FINANCIAL APPEALS COURT UPHOLDS REASONABLENESS OF DISPUTE INVESTIGATION IN FCRA CASE REMEMBERING: JOE HAWES CONN.
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.
Collection Industry News
JULY 2, 2023
The Washington, D.C., City Council has approved a law to address gaps in the district’s debt collection regulations. The council unanimously approved the “Protecting Consumers from Unjust Debt Collection Practices Amendment Act of 2022,” sponsored by City Council Chairman Phil Mendelson, Tuesday. It’s important to note that while there was action on a “permanent” bill Tuesday, it won’t take effect until next year and the council essentially extended the current “temporary” legislation the indust
Troutman Sanders
JULY 5, 2023
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities State Activities Federal Activities: On July 3, the Consumer Financial Protection Bureau (CFPB) will begin accepting membership applications for its advisory committees: the Consumer Advisory Board, the Community Bank Advisory Council, the Credit Union Advisory Council, and the Aca
NACM
JULY 7, 2023
The latest episode of Extra Credit is available for listening! The best credit decisions are made in a team environment and several different departments can provide input. A recent eNews poll revealed 97% of credit teams involve upper management in credit decisions, along with the sales team (26%), treasury (9%) and customer service (3%).&nbs.
Account Recovery
JULY 6, 2023
The Court of Appeals for the Seventh Circuit has upheld summary judgment in favor of a furnisher in a Fair Credit Reporting Act case that was accused of providing inaccurate information after conducting an unreasonable investigation of the plaintiff’s dispute, ruling that “no reasonable jury could find” that the furnisher “provided patently incorrect or materially […]
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Collection Industry News
JULY 6, 2023
WASHINGTON, June 30 (Reuters) – President Joe Biden on Friday announced new measures to provide student loan relief to Americans and condemned the U.S. Supreme Court for blocking a plan to cancel hundreds of billions of dollars in debt that was popular with his voters. Thwarted by the conservative-leaning court, Biden told reporters that his administration would pursue student loan relief through a different avenue, the Higher Education Act.
Troutman Sanders
JULY 3, 2023
On June 29, the Seventh Circuit Court of Appeals affirmed the Western District of Wisconsin’s decision that an entity created under tribal law was entitled to immunity as an arm of the tribe and dismissed claims characterized as personal capacity claims against individual employees of the tribal entity as being inherently asserted against the tribe itself (ruling available here ).
Account Recovery
JULY 5, 2023
In a case that was defended by David Schultz and Justin Penn of Hinshaw & Culbertson, a state court judge in Illinois has granted a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices Act Hunstein class-action case, ruling that the communication between the defendants and their letter vendor were not […]
Account Recovery
JULY 5, 2023
A growing number of Americans are keeping financial secrets from their loved ones, according to NerdWallet’s annual consumer credit card report. The report reveals that approximately a third of Americans with credit card debt (33%) keep their debt amounts secret, possibly due to the stigma surrounding such financial liabilities.
Speaker: Debra L. Robinson
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.
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