Enterprise Recovery

DECEMBER 13, 2024

In B2B sales, a signed contract is of immense sanctity. It serves as the cornerstone for ensuring security and trust between business partners. These contracts provide a clear framework for the business relationship, outlining the rights and obligations of each party involved. This assurance is invaluable in fostering a stable and reliable partnership, as it minimizes the risk of disputes and misunderstandings.

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155

Account Recovery

DECEMBER 10, 2024

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Performant Recovery, Inc., a debt collection agency accused of delaying student loan rehabilitations to increase fees. Performants practices, which cost individual borrowers thousands of dollars, have resulted in a $700,000 penalty and a ban on the company from servicing or collecting any student loan debt.

Student loans 130

Student loans Student Loans Loans Collection Agencies 130

Consumer Finance

DECEMBER 8, 2024

The CFPB launched a rulemaking to address the harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse.

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136

True Accord

DECEMBER 11, 2024

Its that time of year againthe season of giving, which has landed nearly half (47%) of consumers in debt thanks to holiday spending in the past. And the struggle continues to be real for consumers with 68% reporting that inflation is stretching their holiday budgets thin and 89% of consumers reporting they feel tempted to spend more than they should.

Collections 85

Collections Credit Card Debt 85

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.

Hudson Weir

DECEMBER 10, 2024

Cash flow is key to the running of business operations, so unpaid customer invoices can create significant challenges There are several ways to recover the debt and with that in mind, you may be wondering what is a charging order and can it help? According to a survey from Capital on Tap reported by On The Tools , businesses in the UK are due 7.4bn in overdue invoices.

Creditors 52

Creditors Debtor Debt Recovery Legal Rights 52

Consumer Finance

DECEMBER 11, 2024

The CFPB took action to close an outdated overdraft loophole that exempted overdraft loans from lending laws.

Loans 123

Loans Financial services Banks 123

Jimerson Firm

DECEMBER 13, 2024

On December 3, 2024, ruling by the U.S. District Court for the Eastern District of Texas granted a preliminary injunction that applies nationwide for all beneficial ownership interest (BOI) reports. 1 What initially appeared to be a straightforward implementation of the Corporate Transparency Act (CTA) has transformed into a complex legal and regulatory challenge that demands careful navigation by businesses across the United States.

Government 52

Government 52

American Profit Recovery

DECEMBER 11, 2024

We see it all too often. Businesses have a pile of outstanding invoices. They are not getting paid, and the business waits far too long to get serious about getting those customers to keep up with their payments. Maybe they dont have the systems in place to get late customers to pay or they may not want to upset their customers by implementing collection activity.

Collection Agencies 174

Collection Agencies Collections Agency Debt collector Collections 174

Account Recovery

DECEMBER 12, 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

Debt collector 130

Debt collector Education 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

Consumer Finance

DECEMBER 8, 2024

The CFPB took action to address unlawful student loan debt collection practices by Performant Recovery, Inc. against defaulted borrowers.

Student loans 128

Student loans Student Loans Loans Debt collector 128

Account Recovery

DECEMBER 10, 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 13, 2024

Collector Facing FDCPA Class Action for Not Providing 30 Day Dispute Window in MVN Judge Grants MTD in FCRA Case Over Not-Disputed Debt French Hill Tapped as Next Chair of House Financial Services Committee CFPB Issues Final Rule Capping Overdraft Fees WORTH NOTING: A quiz to test how much you remember about 2024 … The word list for the National Spelling Bee is drawing some criticisms … RIP to the Amazing Kreskin … Nearly half of all teenagers are online “constantly”

Financial services 130

Financial services 130

Account Recovery

DECEMBER 13, 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 Law Firms Collections 130

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Collection Agencies

Account Recovery

DECEMBER 13, 2024

The Consumer Financial Protection Bureau yesterday issued a final rule to cap overdraft fees, which was quickly followed by a lawsuit seeking to block the rule from going into effect. The regulation, effective October 1, 2025, aims to save consumers $5 billion annually and eliminate a regulatory loophole from the 1960s that allowed overdraft services to operate outside of lending laws.

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130

Account Recovery

DECEMBER 11, 2024

The Consumer Financial Protection Bureau has initiated a rulemaking process related to the Fair Credit Reporting Act aimed at protecting survivors of domestic violence, elder abuse, and financial coercion from the long-lasting financial harm of coerced debt. Driving the news: Earlier this week, the CFPB announced an advance notice of proposed rulemaking (ANPR) to amend the FCRA.

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130

Account Recovery

DECEMBER 12, 2024

A District Court judge in Mississippi has approved a settlement in a Fair Debt Collection Practices Act class action that will see the defendant pay $14,000 to the plaintiffs and their attorneys. The settlement stems from allegations that the defendant failed to include a validation disclosure in debt collection letters sent to the plaintiff in 2021.

Fair Debt Collection 130

Fair Debt Collection Debt collector Collections 130

Account Recovery

DECEMBER 11, 2024

A District Court Judge in Ohio has granted a defendant’s motion for judgment on the pleadings — albeit on a technicality — in a Fair Debt Collection Practices Act (FDCPA) case that accused the defendant of sending a text message attempting to collect on a debt after the plaintiff had responded to an earlier text message declining to pay the debt.

Fair Debt Collection 130

Fair Debt Collection Judgment Collection Companies 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 9, 2024

The Consumer Financial Protection Bureau on Friday announced it had filed a lawsuit against Comerica Bank, accusing it of systematically harming three million Direct Express cardholders, many of whom rely on Social Security and other federal benefits. Comerica is alleged to have deliberately disconnected more than 24 million customer service calls, charged illegal ATM fees to more than one million cardholders, and mishandled fraud claims.

Banks 130

Banks 130

Account Recovery

DECEMBER 12, 2024

The latest insights suggest the economic roller coaster may be leveling out, signaling a potential shift in how organizations approach debt management. A moderation in serious delinquencies across lending categories reflects a stabilizing economy, and consumers are finding more room in their budgets to stay current on payments, with economic conditions expected to gradually improve in 2025, according to a forecast released yesterday by TransUnion.

Consumer Credit 130

Consumer Credit Personal loans Debt Management Lender 130

Account Recovery

DECEMBER 9, 2024

The Court of Appeals for the Second Circuit has affirmed a ruling in favor of the defendant in a Fair Credit Reporting Act case, ruling that the plaintiff failed to demonstrate a concrete injury as required to establish standing in federal court. The background: The case stemmed from the plaintiffs long-standing dispute with the defendant, a credit reporting agency.

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130

Consumer Finance

DECEMBER 12, 2024

The CFPB released its annual report on trends in the residential mortgage lending market.

Financial services 62

Financial services 62

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Collections

Consumer Finance

DECEMBER 11, 2024

Joint letter from the CFPB and IHS to medical providers, suppliers, billers, and debt collectors re: improper bills.

Debt collector 58

Debt collector Collections 58

Account Recovery

DECEMBER 13, 2024

In order to accuse someone of violating the Fair Credit Reporting Act for reporting inaccurate information to a credit reporting agency, there is one important step that has to happen before filing the lawsuit: the consumer has to dispute the debt. A District Court judge in Louisiana has granted a defendant’s motion to dismiss an amended complaint in an FCRA case because the plaintiff failed to meet this crucial requirement.

Lender 130

Lender Loans 130

Account Recovery

DECEMBER 10, 2024

InDebted, the global partner in collections solutions for future-thinking organizations, today announced the acquisition of Receeve, a leading collections decisioning software provider. As financial institutions seek modern alternatives to outdated collection methods, this strategic acquisition enables InDebted to service the entire collections lifecycle from pre-delinquency through to resolution, with Receeve optimizng internal debt collection strategies through data analytics and machine lear

Acquisition 130

Acquisition Financial Institution Collections Collection Agencies 130

Account Recovery

DECEMBER 13, 2024

The House Financial Services Committee, one of the most influential committees in Congress, will soon have a new leader. Rep. French Hill [R-Ark.], a former banker with a strong background in financial technology and regulatory reform, has been selected by the House Republican Steering Committee to chair the committee in the upcoming Congress. Driving the news: Hill, who currently serves as Vice Chair of the Financial Services Committee and heads the Subcommittee on Digital Assets, Financial Tec

Financial services 130

Financial services Banks 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