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ENCORE TO PAY $15M TO SETTLE CFPB LAWSUIT The Consumer Financial Protection Bureau yesterday announced it has settled a lawsuit it filed last month against Encore Capital Group and its subsidiaries, Midland Funding, Midland Credit Management, and Asset Acceptance Capital Corp. The companies will repay consumers nearly $80,000 and pay a civil fine of $15 … The post Daily Digest – October 16.
When you're trying to learn more about your business finances, a cash flow statement is a must. This financial statement paints a clear picture of how your business is managing its cash to pay debts and fund operations. The cash flow statement can help determine the success of your business and be an important indicator of potential to an investor. What is a cash flow statement and why is it important?
Entry-level jobs are scarce for recent college graduates, which leaves the Class of 2020 in a precarious position as their student loan debt comes due. Taylor Cabrera has been job-hunting for months since graduating from the University of Mississippi last spring with dual bachelor’s degrees in biology and physics, and has moved in with family. Anna Helhoski is a writer at NerdWallet.
Doctors are smart people. But even smart people make dumb mistakes sometimes. Going to medical school doesn’t guarantee that you how to handle your finances. Newly minted physicians earn high incomes but have large amounts of student debt, and generally require specialized insurance. This can get people into trouble if they aren’t aware of best practices for building and holding onto wealth.
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?
A District Court judge in California has granted final approval of a $6 million settlement in a Telephone Consumer Protection Act case that alleged a debt collector placed calls to individuals’ cell phones using an automated telephone dialing system without first obtaining their consent. The defendant has also agreed to create an $18 million debt … The post Judge Approves $6M Settlement in TCPA Case Against Collector appeared first on AccountsRecovery.net.
Women often face unique challenges when managing their personal finances. One of those, for example, is the gender pay gap. According to PayScale, in 2020 women make on average 81% of what men earn in the workplace. But you don’t have to let those obstacles keep you from achieving your financial goals—check out some of these financial resources for women to help you manage your money and get ahead for the future. 1.
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Women often face unique challenges when managing their personal finances. One of those, for example, is the gender pay gap. According to PayScale, in 2020 women make on average 81% of what men earn in the workplace. But you don’t have to let those obstacles keep you from achieving your financial goals—check out some of these financial resources for women to help you manage your money and get ahead for the future. 1.
If you’ve had your eye on a pricey stock but don’t want to invest all your savings in a single company, fractional shares available through a few online brokerages could be an affordable way to get started. Fractional shares let investors purchase stock based on a dollar amount they select rather than the price of. Chris Davis is a writer at NerdWallet.
I don’t like to have regrets in business- I think everything we do and everything we go through, good and bad, is a learning experience and life is way too short to live in the past. But there is something I did about 5 years ago that I still kick myself over. I was engaged to provide debt collection training to a major insurance brokerage here in Queensland.
JUDGE DENIES DEFENDANT’S RENEWED MSJ IN FDCPA CASE OVER STATUS OF LETTER A District Court judge in Florida has denied a defendant’s renewed motion for summary judgment after it was sued for allegedly violating the Fair Debt Collection Practices Act by not including some of the required disclosures in a letter sent to the plaintiff, … The post Daily Digest – October 14.
The coronavirus pandemic caused many people to cancel travel plans around the world. You might’ve already had to cancel a family vacation or two. But not being able to travel doesn’t mean there aren’t things to plan for fun at home–beyond your typical game night. You and your family can recharge without ever leaving your hometown.
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.
Is Halloween canceled this year? It might be in your neighborhood, but it’s not canceled everywhere. Sure, some popular, annual Halloween events at theme parks are off the table this year. With Disneyland still closed, that means the park’s annual Oogie Boogie Bash Halloween party is out. The Universal Studios Halloween Horror Nights are known. Sally French is a writer at NerdWallet.
It can be incredibly rewarding to own your own business. It can also be incredibly expensive – between marketing, payroll, and other overhead costs, you may find yourself spending a lot to keep your business running. Add to that a couple of months where maybe your profits didn’t meet expectations, and you’re looking at an enormous amount of debt. When your self-employment costs get out of hand, it might be Read More.
AUSTIN, TEXAS, UNITED STATES, October 13, 2020 — Gregory M. Friedman has joined Barron & Newburger as an attorney in the firm’s Austin office. Gregory will work both with the firm’s Consumer Financial Services Law Group, and with its Bankruptcy and Reorganization Practice Group. In both areas, Mr. Friedman will advise businesses on appropriate resolutions … The post Gregory Friedman Joins Barron & Newburger appeared first on AccountsRecovery.net.
Before a property owner can make improvements over $2,500 to their property, Florida law requires the owner (or authorized agent) to record a Notice of Commencement in the public records where the project is located. A Notice of Commencement signals the beginning of a construction project, and provides protection to the owner, contractors, and suppliers.
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.
In a year that has thrown a pandemic, natural disasters and economic calamity at us while we lurch closer to a presidential election, stability can feel elusive. No matter how well-laid your plans, some new crisis might be lurking around the corner, waiting to upend your life. While it’s never been more clear how much. Sean Pyles is a writer at NerdWallet.
Employee professional development is an important – and valuable – part of running a business. At PDCflow, we take pride in growing our team and Marketing & Sales Manager Dawn Updike is proof that doing so is worth the investment. In her ten years with the company, she has held many positions and her list of accomplishments continues to grow. Who is PDCflow?
A District Court judge in New York has granted a defendant’s motion to dismiss after it was sued for allegedly violating the Fair Debt Collection Practices Act because of an alleged contradiction between a statement on the front of a collection letter about obtaining more information about a debt and the validation notice disclosure that … The post Judge Grants MTD in FDCPA Case Over Alleged ‘Contradiction’ in Letter appeared first on AccountsRecovery.net.
The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide.
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.
Due to the coronavirus pandemic, more people are working remotely than ever before. However, working remotely while living through various stages of stay-at-home orders has caused many to reconsider their living arrangements, sometimes leading to an exit from big-city living to a new location in search of more space, better weather or greater access to.
Have a collections entry from Asset Acceptance LLC on your credit report? If Asset Acceptance is on your credit report, it’s probably because you forgot about a bill. It’s important to deal with a collections agency like Asset Acceptance quickly. The longer you ignore their calls and letters, the more damage your credit could face. Fortunately, getting a collection entry off your report and putting a stop to the debt collector’s calls is simple and straightforward.
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.
On October 15, 2020, the Consumer Financial Protection Bureau filed a proposed stipulated final judgment and order to settle its lawsuit against Encore Capital Group, Inc., and its subsidiaries.
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.
Would you rather have two $50 bills or one $100 bill? If you answered “it doesn’t really matter,” then you’re well on your way to understanding the immediate impact of reverse stock splits. Here’s a quick rundown of what reverse splits are and what they could mean for your portfolio. What is a reverse stock. Chris Davis is a writer at NerdWallet. Email: cdavis@nerdwallet.com.
For this edition of The Digest, we’re taking stock of what we’ve learned so far from the economic impacts of COVID-19, its implications for collections and emerging fintech trends. Here are some headlines that caught our attention: What to keep an eye on: The New York Times recently published a fascinating data visualization report that shows that the number of job losses that are permanent is increasing, providing “a view of the dynamics shifting beneath the surface…of potentially lasting
Maybe there is something to the theory that people are far more productive when working from home than they ever were sitting inside an office. That might be one explanation why, and I say this completely with my tongue in my cheek, the number of public enforcement actions taken during the third quarter of 2020 … The post CFPB Enforcement Actions Spike in 3Q appeared first on AccountsRecovery.net.
Tens of millions of Americans have collections-stage debt. So if you’ve come across a collections entry on your credit report, you’re far from being alone. One unfamiliar name you may encounter on your report is Ability Recovery Services. While finding a collections entry on your report can be stressful, ARS’s calls, letters, and damaging effects on your credit score are simple to stop.
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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