Debt Collection Answers
AUGUST 27, 2023
Photo by Moose Photos It’s a day like any other, and your phone rings with a number you don’t recognize. As you hesitantly answer, a stern voice claims to be a debt collector, demanding immediate payment for a debt you’ve never heard of. Panic sets in, followed by confusion. Is this call legitimate, or have you become the target of a ruthless scammer?
Account Recovery
SEPTEMBER 1, 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?
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Consumer Finance
AUGUST 29, 2023
Homeowners insurance might get more expensive, or not be renewed at all. Mortgage borrowers can take steps to find more affordable options.
Optio Solutions
AUGUST 28, 2023
Reputation is everything. This truth holds even more significance in industries where negative press can have far-reaching consequences. The collections industry is no exception. In an environment where bad press is the last thing anyone desires, brand protection is a paramount concern. In this landscape, adhering to regulations is crucial, and at Optio Solutions we… The post Brand Protection in the Collections Industry appeared first on Optio.
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.
Troutman Sanders
AUGUST 31, 2023
Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield and Joe Reilly for an important update on the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 Final Rule. On July 31, the U.S. District Court for the Southern District of Texas issued a preliminary injunction enjoining the CFPB from implementing and enforcing the Final Rule against members of the American Bankers Association, Te
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Consumer Finance
AUGUST 27, 2023
Largest credit repair brands in America, including Lexington Law and CreditRepair.
Sawin & Shea
AUGUST 30, 2023
What is Bankruptcy? Bankruptcy is an opportunity for someone to forge their way through what seems like an impossible debt-ridden situation and come out the other side. It is a legal way of either consolidating or discharging allowable debts in order to get a fresh start. Although businesses can also declare bankruptcy, we will focus on personal bankruptcy in this article.
Troutman Sanders
AUGUST 31, 2023
On August 22, a district court judge in the Western District of New York denied the defendants’ motions to dismiss a case brought by the Consumer Financial Protection Bureau (CFPB) alleging violations of the Fair Debt Collections Practices Act (FDCPA) and Consumer Financial Protection Act (CFPA). In CFPB v. Manseth, et al , the CFPB commenced an action against three consumer debt buyer firms, now operating as one entity, and their executives.
Account Recovery
AUGUST 31, 2023
A District Court judge in Georgia has partially denied a defendant’s motion to dismiss a Fair Debt Collection Practices Act suit — while also partially granting the motion — after a lawyer who filed a collection suit against an individual was sued in a case that involves a transaction where the plaintiff was purchasing $150,000 […]
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.
Consumer Finance
AUGUST 28, 2023
Last month, the FDIC Board of Directors voted to propose a rule that would reduce the risk of bailouts and financial crises stemming from large bank failures.
Katabat
AUGUST 29, 2023
BURLINGTON, Mass. (August 28, 2023) – Finvi , a leading provider of enterprise workflow automation software built to accelerate revenue recovery and simplify the payment process, announced that Harmoney, the largest consumer-direct online lender in Australia and New Zealand, has selected Finvi’s Katabat solution to support multiple products across its multiple loan management platforms.
Troutman Sanders
AUGUST 30, 2023
According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA) and Fair Debt Collection Practices Act (FDCPA) were slightly up while filings under the Telephone Consumer Protection Act (TCPA) remained unchanged for the month of July. Complaints filed with the Consumer Financial Protection Bureau (CFPB) were down for the month.
Account Recovery
AUGUST 31, 2023
Getting to Know Tony Diaz of PFC|USA Judge Partially Grants MTD in FDCPA Case Over Sale of Military Memorabilia Parking Co. to Pay $106k in Fines, Refunds in CFDCPA, CCPA Settlement with Colorado AG Conn.
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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.
Consumer Finance
AUGUST 29, 2023
El seguro de vivienda podría ser ponerse más caro o no ser renovado. Los prestatarios hiporecarios pueden buscar opciones más baratas.
On Guard
AUGUST 30, 2023
A thorough risk management is indispensable for any finance department. Especially in difficult economic times, there is even more pressure on this part of the financial profession. Moreover, estimating financial risks is increasingly dynamic and complex these days, for instance, due to increasing technological innovations such as crypto and blockchain.
Troutman Sanders
AUGUST 30, 2023
On August 28, the U.S. Department of Justice (DOJ) announced its eighth redlining settlement under its Combatting Redlining Initiative. The settlement between the DOJ and the American Bank of Oklahoma, which originated from a referral by the Federal Deposit Insurance Corporation (FDIC), aims to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by redlining historically Black neighborhoods in the Tulsa, Oklahoma Metropolitan Statistical Area (Tulsa MSA).
Account Recovery
SEPTEMBER 1, 2023
A change in precedent has led the Court of Appeals for the Third Circuit to remand a case back to the District Court to determine whether the owners of a debt that was purchased from the original creditor can compel arbitration after being sued for allegedly violating the Fair Debt Collection Practices Act.
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.
Hudson Weir
AUGUST 28, 2023
The Commercial Rent Arrears Recovery (CRAR) measures can let landlords take control of a business’ goods if it is behind on rental payments. In this guide, we’ll explain when commercial landlords can use CRAR and the potential implications for your business if it owes rent. During COVID-19, many UK businesses struggled to pay their rent. The government brought in a moratorium on commercial landlords evicting businesses as a result.
TCPA
AUGUST 28, 2023
In a per curiam unpublished opinion, the Eleventh Circuit recently held that a plaintiff had standing to assert claims under the Florida Telephone Solicitation Act (“FTSA,” Fla. Stat. § 501.059) for his receipt of five unsolicited telemarketing text messages.
Troutman Sanders
AUGUST 29, 2023
In this episode of The Crypto Exchange, our host Ethan Ostroff joins his colleagues Chris Willis 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 front, including New York’s
Account Recovery
SEPTEMBER 1, 2023
The Court of Appeals for the Seventh Circuit has largely upheld an appeal in favor of the Federal Trade Commission that may wrap up a case that has been in the courts for more than six years including a trip to the Supreme Court and deals with how the regulator assesses fines for violations of […]
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?
JMA
AUGUST 27, 2023
Having a customer not pay an invoice on time can create major cash flow issues and financial stress for any business. While an initial friendly reminder is often all that’s needed to receive payment, further escalating action may be required when a debt remains unpaid for an extended period. Unpaid invoices can happen for all. Read more » The post How to Manage Overdue Payments in Your Business appeared first on JMA Credit Control.
Prosperity Now
AUGUST 27, 2023
It often feels like kids grow up so quickly—from kindergarten one day to college the next! But for those working on Children’s Savings Account (CSA) programs, the wait for participants to reach college-age has felt long. But now the wait is over, at least in San Francisco. The first cohort of Kindergarten to College (K2C) participants has graduated high school!
Troutman Sanders
AUGUST 29, 2023
On August 18, a judge in the U.S. District Court for the Western District of New York granted the plaintiff’s motion for class certification for alleged violations of the Fair Debt Collections Practices Act (FDCPA) relating to an allegedly improper debt assignment notification. In McCrobie v. Palisades Acquisition XVI, LLC , the plaintiff incurred a credit card debt, which was later assigned to a new creditor.
Account Recovery
SEPTEMBER 1, 2023
The State of Minnesota’s Department of Commerce has fined a collection operation $10,000 — but stayed $4,000 of the penalty — after the operation was accused of attempting to collect on amounts not expressly authorized by the agreement creating the debt and for failing to completely respond to the Department’s requests for information.
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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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