Account Recovery
OCTOBER 4, 2023
A collection operation based in Georgia has filed a data breach notification with the Office of the Maine Attorney General, disclosing that the personal information of more than 10,000 consumers was compromised as a result of a “network disruption.
Consumer Finance
OCTOBER 4, 2023
The Consumer Financial Protection Bureau (CFPB) announced the appointment of new members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council.
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Credit Corp
OCTOBER 6, 2023
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The average monthly car payment for new vehicles in the United States is $725, and $516 for used vehicles. New car payments are up 11.5% year-over-year and used car payments are only up 2.2%.
UK debt collections
OCTOBER 4, 2023
The UK government has launched tougher measures to tackle SME late payments to small businesses as part of its upcoming Prompt Payment & Cash Flow Review. The Prompt Payment & Cash Flow Review is a scrutiny of current payment practices, measures and progress in combating SME late payments issues to help the government assess the right support is in place to support small businesses.
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
OCTOBER 6, 2023
A pair of defendants were found guilty yesterday by a federal jury after being accused of wire fraud and conspiracy to commit wire fraud and mail fraud in a scheme where they scammed individuals with a bogus system that purportedly would get their consumer debts, like credit cards, auto loans, and mortgages, discharged without having […]
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Credit Corp
OCTOBER 5, 2023
Snapshot: This OpenSky Secured Visa credit card offers a way for those with poor or no credit to build credit. It has a fairly low annual fee ($35 ) and is simple to qualify for, making it an affordable way to enter into the credit card market for younger adults. OpenSky® Secured Visa® Credit Card Apply Now on OpenSky's secure website Card Details Intro Apr: N/A Ongoing Apr: 22.64% (variable) Balance Transfer: N/A Annual Fee: $35 Credit Needed: Fair-Poor-Bad-No Credit Snapshot of Card Features N
Jimerson Firm
OCTOBER 5, 2023
Florida’s Senate Bill 2-A, which went into effect on December 16, 2022, has brought significant changes to Florida’s property insurance landscape, particularly in the realm of Assignment of Benefits (AOB). This blog post aims to shed light on the implications of these changes for homeowners in Florida. What is an Assignment of Benefits? An “Assignment of Benefits” or AOB is essentially the transfer of contractual rights from one party to another.
Account Recovery
OCTOBER 6, 2023
The Consumer Financial Protection Bureau yesterday announced the newest round of appointments to its Consumer Advisory Board, Community Bank Advisory Counsel, Credit Union Advisory Counsel, and Academic Research Council, and once again, the accounts receivable management industry is on the outside looking in.
Consumer Finance
OCTOBER 5, 2023
Over roughly a decade, digital payments, mostly conducted through mobile devices, rapidly became ubiquitous in China.
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.
Credit Corp
OCTOBER 5, 2023
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers. Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Snapshot: The Bank of America Travel Rewards® Credit Card is ideal for frequent travelers who want to earn travel rewards on their everyday purchases.
Troutman Sanders
OCTOBER 6, 2023
In Moore v. Merchants & Medical Credit Corp., Inc., the plaintiff initiated litigation in state court alleging a violation of the Fair Debt Collection Practices Act (FDCPA) based on the defendant’s use of a letter vendor to send the plaintiff a demand. After removal, the U.S. district court for the Middle District of Pennsylvania found that the plaintiff failed to allege a harm sufficient to confer federal jurisdiction and remanded the case to the original Pennsylvania state court.
Account Recovery
OCTOBER 6, 2023
Another Class-Action Lawsuit Filed Over Wrong Itemization Date in MVN Appeals Court Upholds Reduced Fee Award for Plaintiff’s Attorneys in FDCPA Case CFPB Names New Consumer Advisory Board Pair Found Guilty in Million-Dollar Debt Elimination Scam WORTH NOTING: The more that people exercise means they are likely to be lazier during the day, according to […]
CICM
OCTOBER 6, 2023
It is unfortunate that many businesses may face financial or operational difficulties during their journey. These challenges can range from minor issues, such as temporary cash flow problems due to delayed payments from creditors to more severe problems that can threaten the company’s solvency. At its core, insolvency refers to a financial state in which an individual, business, or entity cannot meet its financial obligations and liabilities as they become due.
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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.
Credit Corp
OCTOBER 6, 2023
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. The average household credit card debt in America is $9,654, and the states with the largest amount of credit card debt are Alaska, Hawaii, and New Jersey.
Collections Law
OCTOBER 5, 2023
In today’s world, commerce is mobile. Chances are, your business is providing goods and services in more than one state, especially if you are a larger company. Collecting on a foreign judgment from a debtor in another state can be complicated, but not impossible. At Law Offices of Alan M. Cohen & Associates LLC, we regularly counsel out-of-state clients on debt collection from their debtors who have assets in Massachusetts.
Account Recovery
OCTOBER 5, 2023
The Massachusetts Division of Banks has assessed a $1.5 million fine against a company for acting as a third party loan servicer in the state without the appropriate license to do so. A copy of the consent order with Bill Me Later can be accessed by clicking here.
Troutman Sanders
OCTOBER 5, 2023
In the latest episode of Payments Pros , hosts Keith Barnett, Josh McBeain, and Carlin McCrory discuss Earned Wage Access (EWA), a system that allows employees to receive their earned wages before the employer’s payroll cycle. Keith, Josh, and Carlin delve into the potentially applicable federal laws related to EWA, starting with the Truth in Lending Act (TILA).
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.
Credit Corp
OCTOBER 6, 2023
Many or all of the products featured here are from our partners, who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. On average, homeowners insurance in the United States is $1,424 annually and about $118 per month. This price varies based on the state you live in, along with other factors like previous home insurance claims, credit score, and the age of your home.
Sawin & Shea
OCTOBER 4, 2023
One of the most common questions from those who file for Chapter 7 or Chapter 13 bankruptcy is, “Can I buy a house after bankruptcy?” and “After bankruptcy discharge, when can I buy a house?” In short, yes, you will be able to purchase a home after bankruptcy. The amount of time after filing that you can purchase a house depends. Read on to learn more.
Account Recovery
OCTOBER 5, 2023
Getting to Know Angelia Emanie of KLS Financial Services Judge Grants MTD in State Court Class-Action Over Lack of License Using Credit Reporting to Get Consumers to Repay Debts is ‘Deliberate Misuse’ of System: CFPB GC Mass. Regulator Fines Servicer $1.
Troutman Sanders
OCTOBER 4, 2023
Join Troutman Pepper Partner Chris Willis and fellow Partner Matthew Orso as they discuss the Bank Secrecy Act, anti-money laundering, and countering the financing of terrorism rules, as they pertain to financial institutions defined by FinCEN. The discussion includes topics such as which companies are subject to the rules, compliance issues financial institutions may face, and what financial institutions can do to avoid potential issues.
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?
Credit Corp
OCTOBER 6, 2023
A 401(k) is an employer-sponsored retirement plan that allows employees to contribute a portion of each paycheck. Many employers also match a certain amount of employee contributions. Typically, 401(k) plans are tax-deferred, meaning the money you contribute isn’t taxed until you withdraw from your account. Our 401(k) calculator below can help you determine what your 401(k) balance will be when you retire.
NCBA Law Practice Management Blog
OCTOBER 4, 2023
Most buying decisions are emotional journeys – some short, some long. Why did you buy the candy in line waiting to check out at the grocery store ? Your kid was being obnoxious, and you wanted to shut them up, haha. Why di d you buy that boat ? Your Dad had a boat, and you always wanted one, too. It only took 20 years to get it. There are a lot of emotional buying decisions that happen in legal, as well.
Account Recovery
OCTOBER 4, 2023
MOUNTAIN VIEW, CA and PLANO, TX, October 4, 2023 – Intelligent Contacts, a leader in inbound / outbound omnichannel contact center solutions, has partnered with Prodigal, the pioneer of AI-powered consumer finance intelligence, to deliver solutions that help companies improve customer experience and increase revenue.
Troutman Sanders
OCTOBER 4, 2023
The Third Circuit Court of Appeals overruled a district court’s reading of an exception into §1681s-2(b) of the Fair Credit Reporting Act (FCRA) that would allow a furnisher discretion to refuse to investigate an indirect dispute it deems frivolous or irrelevant. Instead, the Third Circuit held that a furnisher must investigate even frivolous indirect disputes — disputes submitted by a consumer first to a consumer reporting agency (CRA) that are then transmitted by the CRA to the furnisher.
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Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
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