Taurus Collect
AUGUST 23, 2023
In the complex world of finance, debt collection remains a constant challenge. Traditional methods can often lead to frustration, damaged relationships, or even legal disputes. However, the landscape of debt collection has significantly evolved in recent years. The shift towards more empathetic, customer-centric approaches has revolutionised this field, creating beneficial outcomes for both parties involved.
Troutman Sanders
AUGUST 23, 2023
In this episode of The Consumer Finance Podcast, Troutman Pepper Partner Chris Willis is joined by colleagues Ethan Ostroff and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our team offers insights to the industry about various topics, including: Regulation of cryptocurrency at the federal and state level, and what the regulators are targeting; The involvement of state attorneys general in cryptocurrency and enforcement; Movement on the legislative fr
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Consumer Finance
AUGUST 21, 2023
A CURO Group Holdings Company, Heights Finance, formerly known as Southern Management Corporation, induced struggling customers into a fee-harvesting and loan-churning scheme.
Account Recovery
AUGUST 24, 2023
The Department of Education, along with the federal government, yesterday announced it had launched its updated income-driven repayment application tool for individuals with unpaid student loans, a tool that could help reduce the student loan payments for up to 30 million borrowers. The new initiative is called the Saving on A Valuable Education (SAVE) program.
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?
FFGN COLLECT NY
AUGUST 22, 2023
Some people overnight payment to satisfy their debt collection claim. But did you know that doing so could result in having to pay twice? The recent uptick in crimes targeting the postal service has experts warning the public not to send checks through the mail. Our bank, and most likely yours, has even warned against placing checks in the mailboxes outside of the post office.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Micro Bilt
AUGUST 22, 2023
Identity verification has become a crucial aspect of today’s business world, particularly for financial institutions and e-commerce companies. Unfortunately, keeping up with the latest techniques can be challenging, with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations constantly pushing the advancement of identity verification methods globally.
Account Recovery
AUGUST 23, 2023
The Federal Trade Commission on Monday announced it had sued and obtained a temporary restraining order against a number of corporate and individual defendants accused of pretending to be affiliated with the Department of Education so that they could market student loan forgiveness programs that made false promises and collected millions in illegal upfront fees.
Troutman Sanders
AUGUST 25, 2023
Earlier this month, the California Department of Financial Regulation and Innovation (CA DFPI) announced a new rule expanding the definition of unfair, deceptive and abusive acts and practices (UDAAP) to commercial financing. Specifically, the rule makes it unlawful “for a covered provider to engage or have engaged in any unfair, deceptive, or abusive act or practice in connection with the offering or provision of commercial financing or another financial product or service to a covered entity.
Collections Law
AUGUST 24, 2023
In many cases, yes. If you speak for a large business or corporation that needs to collect on a commercial debt, you should know about this essential tool. In Massachusetts, a real estate attachment allows us to freeze the property before we even get a court judgment against the debtor. Inexperienced collection attorneys start thinking about how to collect only once they have a court judgment.
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.
Roths Child Law
AUGUST 24, 2023
If you’re saddled with overwhelming debt, you may not have considered the option of filing for bankruptcy simply based on things you’ve heard about it over the years. Many of them likely aren’t accurate. It’s important to get accurate information about both types of personal bankruptcy (Chapter 7 and Chapter 13) to determine whether it’s your best opportunity to get your financial situation back on track.
Account Recovery
AUGUST 25, 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?
Troutman Sanders
AUGUST 24, 2023
On August 18, New Jersey Governor Phil Murphy signed into law A4284 , which prohibits sellers from imposing certain surcharges for credit card transactions. Specifically, the law prohibits sellers from charging more than what they pay to process credit card transactions. The law also requires sellers to disclose and post notices of the surcharge prior to the consumer incurring the charge.
Sawin & Shea
AUGUST 23, 2023
If you’re stressed about your finances, you’re in good company. A recent survey from Capital One reports that 73% of Americans name financial concerns as their number one source of stress. When it comes to financial worries, they can be many and complex: Am I making enough? How will I get under my debt? Will I be able to retire comfortably? Am I okay if an emergency happens?
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.
Consumer Finance
AUGUST 23, 2023
Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs (SPCP) to help meet the credit needs of eligible individuals.
Account Recovery
AUGUST 25, 2023
The Court of Appeals for the Second Circuit has overturned a lower court’s dismissal of a case in which it determined the plaintiff lacked standing to sue, ruling that the threat of potential future harm — at least in the context of a data breach and identity theft — is sufficient for the plaintiff to […]
Troutman Sanders
AUGUST 23, 2023
On August 16, a coalition of seven state attorneys general (AG) announced a settlement with participants alleged to be involved in a “massive” robocall operation. The stipulated order, which names Scott Shapiro, Michael T. Smith, Jr., and Health Advisors of America (defendants), permanently bans Shapiro and Smith from initiating or facilitating robocalls; working in or with companies that make robocalls; and engaging in telemarketing.
JMA
AUGUST 22, 2023
Unpaid debts can be a source of financial stress for individuals and businesses alike. In Australia, understanding the ins and outs of debt recovery is essential to manage financial obligations effectively. In this article, we will address common questions regarding unpaid debts, the timeframes for debt payment and recovery, and the potential ramifications for debtors.
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.
Jimerson Firm
AUGUST 22, 2023
When two parties enter into a contract for the purchase and sale of real property, both parties intend to close on the sale of the property. However, there are times where the seller refuses to sell the property to the buyer. What happens then? What rights does the buyer have to force the seller to close and to sell the property to the buyer? This article seeks to explore these questions and evaluates the language in the most common forms of purchase and sale agreements.
Account Recovery
AUGUST 25, 2023
A District Court judge in New York has adopted recommendations from a Magistrate Court judge and certified a class in a Fair Debt Collection Practices Act case that has been going on for nearly a decade. A copy of the ruling in the case of McCrobie v. Palisades Acquisition XVI et al.
Troutman Sanders
AUGUST 23, 2023
On August 11, in the case of Yuille v. Uphold HQ Inc. , the Southern District of New York was tasked with determining whether the Electronic Funds Transfer Act (EFTA) applies to digital asset-based accounts. The court concluded there was no “account” as defined by EFTA because the digital asset account at issue was not established primarily for personal, family, or household purposes.
Hudson Weir
AUGUST 21, 2023
In this guide we explore HMRC debt management and collection, including the options if your business is struggling to make a repayment. If that’s the case, your company isn’t alone. The National Audit Office reports the total tax debt reached £42bn in September 2021, up from £16bn in January 2020 before COVID-19. While the pandemic has now subsided, many businesses continue to struggle with debt.
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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.
TCPA
AUGUST 21, 2023
The Ninth Circuit recently rejected the argument that a text message qualifies as an “artificial or prerecorded voice” under the TCPA. See Trim v. Reward Zone USA LLC, 2023 WL 5025264, 2023 U.S. App. LEXIS 20445 (9th Cir. Aug.
Account Recovery
AUGUST 25, 2023
In a development that was first reported by ACA International, the Nevada Financial Institutions Divisions is seeking feedback on the impact of forthcoming regulations related to a new licensing law that was enacted in the state. A copy of the questionnaire can be accessed by clicking here.
Troutman Sanders
AUGUST 22, 2023
Minnesota Attorney General Keith Ellison recently announced steps the office is taking as part of its “renewed focus” on medical billing. “The Minnesota Attorney General’s Office has long been concerned with medical billing and has acted for years to protect Minnesotans from abusive and deceptive practices. With recent reports in the media and from consumers that problems continue, we’re taking several steps to renew our focus on this longstanding concern.
Collections Law
AUGUST 20, 2023
If you own a large construction company, you are familiar with mechanic’s liens. These are an effective method of obtaining payment from delinquent clients. They are a powerful tool given by statute to certain actors in the construction industry, and they’re the only type of property lien that doesn’t require a judge’s approval. The rules in the statutes are strict In leaner days, you might have tried to enforce mechanic’s liens yourself.
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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