Account Recovery
MAY 16, 2024
The Supreme Court ruled today that the funding structure of the Consumer Financial Protection Bureau is constitutional and does not need to change. Had the ruling gone the other way, there was the possibility that the CFPB could have been de-funded.
Enterprise Recovery
DECEMBER 6, 2024
B2B debt collection requires an understanding of effective strategies to mitigate delinquent accounts. This process involves implementing proactive measures so businesses can avoid issues such as unclear credit policies, inadequate communication, and poor documentation practices. Also, technology and professional debt collection services can enhance the ability to recover outstanding debts and maintain healthy financial operations.
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American Profit Recovery
SEPTEMBER 26, 2024
American Profit Recovery is celebrating 20 years in business. However, we are not just celebrating being in business for two decades, we are applauding our vision come true and how we have built a reputable debt collection agency that has achieved what we set out to do in 2004. We came together because we saw an opportunity to improve just about every area of collections.
Consumer Finance
DECEMBER 8, 2024
The CFPB launched a rulemaking to address the harmful effects of inaccurate credit reporting affecting survivors of domestic violence, elder abuse, and other forms of financial abuse.
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 3, 2024
A new medical debt law went into effect in Minnesota this week, and following the lead of that state’s Attorney General, it might be helpful to review the details of the Debt Fairness Act to make sure nobody overlooks anything that they need to be doing. The Debt Fairness Act, which took effect on October 1, introduces significant changes to debt collection practices, particularly regarding medical debt.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Account Recovery
JUNE 11, 2024
The Consumer Financial Protection Bureau today announced the next step in its plan to prohibit medical debts from being included on consumers’ credit reports, proposing a rule that would remove $49 billion of debts that are currently appearing on those reports.
Account Recovery
JUNE 14, 2024
With all the talk about medical debt this week as a result of the Consumer Financial Protection Bureau’s proposed medical debt credit reporting rule, it’s perhaps interesting to note that a majority of consumers feel forgiving medical debt is more important than forgiving student loan debt, according to the results of a new poll.
Account Recovery
MAY 2, 2024
I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support.
Account Recovery
APRIL 5, 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?
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.
Account Recovery
FEBRUARY 29, 2024
To be a legend, it takes more than longevity. In fact, the longer you spend in your chosen field, the more adaptable you have to be to changing times. The accounts receivable management industry has changed a lot over the years, but one of the constants has been Phil Rosenthal.
Account Recovery
FEBRUARY 28, 2024
The California Department of Financial Protection & Innovation has fined a fintech company $2.5 million for not responding to consumer complaints in a timely manner that constitutes a violation of California’s Consumer Financial Protection Law, the DFPI said.
Account Recovery
OCTOBER 11, 2024
A District Court judge in Oklahoma has dismissed the class-action component of a Fair Debt Collection Practices Act lawsuit, while also dismissing some of the claims, after the defendant was accused of not sending a collection lawsuit summons to the plaintiff’s correct address, which it allegedly had. The background: The case started when the defendant, a collection law firm, filed a lawsuit against the plaintiff to collect an alleged debt.
Account Recovery
OCTOBER 4, 2024
Massachusetts Attorney General Andrea Joy Campbell has reached an agreement with Franklin Credit Management, a mortgage servicer, to resolve allegations of improper debt collection practices in The Bay State. The company was accused of violating consumer protection laws by attempting to collect on old debts tied to second-lien mortgages without proper communication or adherence to foreclosure-prevention measures.
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Account Recovery
OCTOBER 4, 2024
Where the Court of Appeals for the Seventh Circuit became known as the standing court, District Courts in Oklahoma are earning a reputation for being the court where inconvenient time and place caselaw is being written. This time, a District Court judge in Oklahoma has granted a defendant’s motion to dismiss after it sent a letter in response to a letter from the plaintiff stating that email was the only convenient channel of communication going forward.
Account Recovery
OCTOBER 7, 2024
In a case defended by David Grassi and Chad Echols at Frost Echols, along with Brad Armstrong at Moss & Barnett, the Court of Appeals for the Eighth Circuit has vacated a lower court’s summary judgment ruling in favor of a defendant in a Fair Debt Collection Practices Act case, only to have the case dismissed because the plaintiff lacked standing to sue in the first place.
Account Recovery
SEPTEMBER 24, 2024
The savings nest eggs that people built up during the COVID-19 pandemic are all but gone, according to new research from the JPMorgan Chase Institute. As savings dwindle, consumers are becoming more vulnerable to financial shocks, which could lead to lower spending and higher debt defaults. By the numbers: According to the institute’s latest Household Finances Pulse report, the cash reserves of U.S. households have been steadily shrinking since their pandemic-era peak.
Account Recovery
SEPTEMBER 27, 2024
In a case that was defended by Jacquelyn DiCicco of J. Robbin Law, a New Jersey Appeals Court has affirmed the dismissal of a consumer’s class-action lawsuit against a group of debt buyers, ruling that there is no private right of action under the New Jersey Consumer Finance Licensing Act, and that the plaintiff’s claims under the Consumer Fraud Act were not applicable in this debt collection context.
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.
Account Recovery
OCTOBER 4, 2024
The U.S. Department of Health and Human Services (HHS) Office for Civil Rights (OCR) has levied a $240,000 fine against Providence Medical Institute in Southern California due to violations of the Health Insurance Portability and Accountability Act Security Rule. This enforcement action comes in response to a series of ransomware attacks that exposed the electronic protected health information of 85,000 individuals.
Account Recovery
SEPTEMBER 20, 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!
Account Recovery
SEPTEMBER 30, 2024
A District Court judge in Illinois has denied a plaintiff’s amended motion to certify a class in a Fair Debt Collection Practices Act case, ruling the plaintiff did not adequately follow instructions from the Seventh Circuit Court of Appeals in defining the limits of who could be included in the class. The background: The plaintiff filed this lawsuit because after disputing a debt, she received a letter from the defendant that included information about how she could dispute the debt.
Account Recovery
JANUARY 2, 2024
As part of the festivities to mark the end of one calendar year and the start of a new one, I ask different professionals from across the accounts receivable management industry for their predictions for the coming year — what do they think is going to happen, what kind of year is it going to […]
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Account Recovery
OCTOBER 4, 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!
Account Recovery
SEPTEMBER 16, 2024
A District Court judge in Maryland has denied a defendant’s motion to compel arbitration in a Fair Debt Collection Practices Act (FDCPA) case, ruling that the defendant waived its right to arbitrate by engaging in prior litigation. The background: In August 2016, the plaintiff took out a personal loan that was sold and transferred through several financial entities, ultimately landing in the hands of the defendant.
Account Recovery
NOVEMBER 18, 2024
Granted, this appears to be available in England only for now, and it’s intended to fight fraud and scams, but it’s likely only a matter of time before it makes its way westward to the United States and could possibly be deployed against collection calls. England’s largest cellphone carrier has unveiled a new technology that could pose a new challenge for debt collectors.
Account Recovery
SEPTEMBER 23, 2024
The Consumer Financial Protection Bureau on Friday turned its spotlight on the risks of attempting to collect on unpaid medical bills from surviving spouses, highlighting potential legal violations by collectors who may ignore legal nuances. By the numbers: The big picture: The CFPB is concerned that debt collectors may be misleading surviving spouses into paying deceased partners’ medical debts when they’re not legally obligated to do so.
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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.
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