Collections Law

OCTOBER 29, 2024

In the world of business, collecting unpaid debts can feel like a never-ending battle. In addition, many companies unknowingly commit errors that hinder their efforts. Our commercial collections attorneys at the Law Offices of Alan M. Cohen & Associates LLC law have dedicated their legal careers to helping businesses collect their unpaid debts. Our attorneys have more than five decades of combined experience helping companies collect their unpaid accounts receivable.

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Account Recovery

OCTOBER 29, 2024

A debt collection operation has reached a settlement in a religious accommodation lawsuit brought by the Equal Employment Opportunity Commission (EEOC), and agreed to pay $60,000 to end a long legal battle. The big picture: The lawsuit, filed by the EEOC, involved an employee of the collector who requested an accommodation to observe religious holidays in line with his religion.

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Consumer Finance

OCTOBER 30, 2024

The Consumer Financial Protection Bureau and the Centers for Medicare and Medicaid Services issued a joint letter to protect millions of Medicare beneficiaries living at or below the poverty line from unlawful medical bills.

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Enterprise Recovery

NOVEMBER 1, 2024

With just a few months left of the year, it's time to ensure that your business is well-prepared. Careful planning and allocation of financial resources can help your business seize new opportunities, overcome potential challenges, and achieve its growth objectives. By creating a financial roadmap that supports sustainable development and long-term success, you're positioning your business to thrive in the coming year.

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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.

JMA

OCTOBER 28, 2024

Seasonal businesses often face unique challenges when it comes to managing cash flow. While peak seasons can bring in significant revenue, off-peak periods often lead to cash flow shortages, putting financial strain on the business. Managing these seasonal cash flow fluctuations is critical for maintaining financial stability and ensuring long-term success.

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Consumer Finance

OCTOBER 30, 2024

The CFPB took action against VyStar Credit Union for harming consumers through its botched rollout of a new online banking system.

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NCBA Law Practice Management Blog

OCTOBER 27, 2024

Artificial intelligence has fast become a fact of modern life – as it has perhaps been adopted more widely, more quickly, than any previous technology. Yet, lots of attorneys still haven’t had any substantive experiences with AI, to date. But, the fact of the matter is that there are a lot of use cases for AI, in law practice; so, it may be easier to get started, than you think.

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BN Lawyers

OCTOBER 30, 2024

Here’s the latest risk management guidance, published in September 2024, from B&N’s Attorneys Risk Management practice group. BN – Tip of the Month – ABA Issues Formal Opinion 513 – Duty to Inquire – Sept 2024 The post Barron & Newburger’s Latest Risk Management Guidance appeared first on Barron & Newburger, P.C.

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Account Recovery

OCTOBER 31, 2024

The Supreme Court of New Mexico has ruled that employees of a credit union engaged in the unauthorized practice of law by filing collection lawsuits to recover unpaid debts. The background: The plaintiffs alleged that the defendant engaged in the unauthorized practice of law by having non-attorney employees file collection lawsuits against them in New Mexico state court.

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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

Consumer Finance

OCTOBER 31, 2024

The CFPB filed a proposed order to resolve its case against Townstone Financial for discriminatory lending practices and redlining African American neighborhoods in Chicago.

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Collection Industry News

OCTOBER 27, 2024

For some shoppers, the upcoming holiday season may lead to significant credit card debt. Meanwhile, some people are still paying off debt from last year’s gift buying. In fact, 28% of shoppers who used credit cards have not paid off the presents they purchased for family and friends last year, according to a recent holiday spending report by NerdWallet.

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On Guard

OCTOBER 29, 2024

Relatively little has changed over the past 25 years in the credit management profession. Yes, we now send e-mails and text messages instead of faxes and letters. Moreover, we have “fancy” systems and AI. However, in essence, outstanding receivables have not declined structurally within organisations, said Meri Nasole, at the first Onguard University event.

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Account Recovery

NOVEMBER 1, 2024

The Consumer Financial Protection Bureau and the Centers for Medicare & Medicaid Services yesterday issued a joint statement reminding and warning companies in the credit and collection industry that millions of low-income Medicare recipients, known as Qualified Medicare Beneficiaries (QMBs), are protected by federal law from being charged for Medicare cost-sharing, such as co-pays and deductibles.

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Collection Agencies

NCBA Law Practice Management Blog

OCTOBER 27, 2024

According to a new report from Legal.io, law firm mergers are on the upswing, in 2024. The interesting part of that report, is just how many small firms are involved in the merger conversation. All me rgers were up 24% for Q1 of 2024; but, fully 65% of those mergers involved law firms with between 5-20 attorneys. Anecdotally, of late, I have myself been involved in helping to move forward mergers between small firms, including those where 2 solo lawyers have joined forces to form a small law fir

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Burt and Associates

OCTOBER 31, 2024

The Financialization of Debt: A Growing Concern in Medical and Rental Markets In a world increasingly shaped by the integration of finance into everyday life, the Consumer Financial Protection Bureau (CFPB) recently released a report that sheds light on two critical sectors affected by this trend: medical and rental debt. These areas, essential to basic human well-being, are becoming fertile ground for financial products and services that may not always prioritize consumer welfare.

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FFGN COLLECT NY

OCTOBER 29, 2024

If you owe money, is your spouse liable for your debt? Being married does not, in itself, mean you are liable for your spouse’s debts. There may be spousal liability, however, if the doctrine of necessaries applies and creates enforceable financial liability. The general rule is that, absent an agreement, a person 18 years and older is not responsible for another adult’s debt.

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Account Recovery

OCTOBER 30, 2024

A District Court judge in California has denied a defendant’s argument that it does not meet the definition of a debt collector under the Fair Debt Collection Practices Act and ruled that the plaintiff’s claims can proceed. The defendant, who argued that it was exempt from the FDCPA, failed to convince the court, which found sufficient allegations that the defendant was operating as a debt collector when it attempted to collect a debt from the plaintiff.

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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.

NCBA Law Practice Management Blog

OCTOBER 27, 2024

I feel like I can safely say that – even though I have no idea what your rates are. In my experience, most law firm rates are far too low. That’s especially true if you bill hourly. Hourly rates for attorneys don’t even keep up with inflation. But, maybe you already knew that. And, perhaps you may even really want to raise your hourly rates. Though, you may also be thinking: I haven’t done that in quite some time , so I have to make a huge change , in order to make up for that.

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Burt and Associates

OCTOBER 31, 2024

About Transcript About CFPB 2024 Annual Report on Activities to Administer the Fair Debt Collection Practices Act I. Introduction and Spotlight on Medical and Rental Debt 1.1 Medical Debt 1.1.1 Introduction: This section highlights the CFPB’s work on medical debt issues, including a proposed rule to restrict medical debt reporting on credit reports. 1.1.2 Debt Not Owed: Examines consumer complaints about medical debt collection for debts not actually owed, often stemming from billing error

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Collection Industry News

OCTOBER 30, 2024

NEW YORK, Oct 24 (Reuters) – The cost of insuring exposure to U.S. government debt has climbed to its highest in nearly one year, suggesting investors are getting nervous about a U.S. presidential election outcome that could make the government less able to repay debt. Spreads on U.S. one-year credit default swaps (CDS) – market-based gauges of the risk of a default – widened to 49 basis points on Thursday, according to S&P Global Market Intelligence data, the highest since

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Account Recovery

NOVEMBER 1, 2024

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? Call (855) WEB-RECON or email admin@webrecon.net today!

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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

OCTOBER 31, 2024

One of the nation’s largest credit card lenders has had a summary judgment ruling in its favor affirmed by the Court of Appeals for the Ninth Circuit, after it was sued for allegedly violating the Americans with Disabilities Act and the Family Medical Leave Act by an employee who had been terminated. The background: The plaintiff, who had been diagnosed with anxiety and depression, claimed she faced adverse employment actions after taking leave under the FMLA and raising complaints about t

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Account Recovery

OCTOBER 29, 2024

A District Court judge in Florida has ruled that a defendant — a health insurance company — must face claims it failed to make appropriate payments to healthcare providers who subsequently assigned their claims to the plaintiff, Healthcare Ally Management of California, LLC, denying the defendant’s argument that the plaintiff needed to be licensed as a debt collector in the state in order to pursue its claim.

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Account Recovery

OCTOBER 30, 2024

A bipartisan bill has been introduced in the House of Representatives to reform the Civil Investigative Demand process used by the Consumer Financial Protection Bureau. Rep. Andy Barr [R-Kent.] and Rep. Vicente Gonzalez [D-Texas] introduced the Civil Investigative Demand Reform Act of 2024. The proposed legislation aims to ensure due process for financial services providers subject to the CFPB’s Civil Investigative Demands (CIDs), which are often criticized for being overly broad and burde

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Account Recovery

NOVEMBER 1, 2024

It’s helpful at times to be reminded that the issue of whether a plaintiff has standing or not to pursue a case in federal court is not always up to the parties. Judges can decide whether to keep a case in federal court or remand it back to state court on their own, whether the parties want it remanded or not. A District Court judge in New York has remanded a case back to state court — where it was originally filed — even though the plaintiff withdrew her motion to remand, ruling that the

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Collections