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The company fends off half a billion cyberattacks a month. 03/27/2024 1:45 P.M. 2 minute read Visa is doubling down on its cybersecurity investments, allocating billions to fortify its defenses and develop cutting-edge services through artificial intelligence, CEO Ryan McInerney said at an investor conference last week, a Payments Dive article reported. “Cybersecurity is a [...] Read More... The post From the Web: Visa Invests Billions in Cybersecurity Amid Escalating Threats appeared first on ACA International.
The new 80+ seat call center is located just outside of Philadelphia. 03/27/2024 1:40 P.M. 1 minute read Starmark Financial, an ACA International member company with corporate headquarters in Deerfield Beach, Florida, recently announced the expansion of a new 80+ seat call center facility in Trevose, Pennsylvania, located just outside of Philadelphia. The new location [...] Read More... The post Starmark Financial Announces Expansion in Pennsylvania appeared first on ACA International.
Seltzer brings two decades of experience to the role. 03/26/2024 2:00 P.M. 1 minute read Nordis Technologies, an ACA International member company based in Coral Springs, Florida, has named Mark Seltzer as its new chief financial officer. As part of the executive leadership team, Seltzer is responsible for the company’s financial planning and analysis as [...] Read More... The post Nordis Technologies Appoints Mark Seltzer as Chief Financial Officer appeared first on ACA International.
Shop our collection of themed Hot Topic webinar bundles to unlock your education potential and save money. 03/26/2024 1:45 P.M. 1 minute read ACA’s education team is constantly working to give you the best learning opportunities available in the accounts receivable management industry, which is why we recently launched a collection of themed webinar bundles. [...] Read More... The post Save with ACA’s New Webinar Bundles appeared first on ACA International.
Judge Approves Settlement in FDCPA Class Action That Exceeds 1% Net Worth Cap Visa, Mastercard to Lower Interchange Fees, Settling 20-Year-Old Suit CFPB, FTC Ramping Up Tech Capabilities, Staff 27 Companies Seeking Collection Talent WORTH NOTING: Now that Spring is on the way, here is the best patio furniture and how to shop for it
Recognizing the growing importance of technology in financial services, the Consumer Financial Protection Bureau and the Federal Trade Commission yesterday issued statements indicating how both agencies will be ramping up the size and scope of their technology capabilities to keep pace with the rapidly evolving tech ecosystem. At the CFPB, for example, this means hiring
Visa and Mastercard yesterday announced a settlement in a long-running class action that will see the card processing giants lower the fees they charge merchants for credit cards transactions and cap those fees for five years. The two companies have bene battling merchants in court for two decades over the interchange fees they assess every
Collectors that choose to settle Fair Debt Collection Practices Act lawsuits for amounts that exceed the cap established by the statute are making their own bed and should not be restricted from doing so, a Magistrate Court judge in New Jersey has ruled, granting preliminary approval of a settlement in an FDCPA class action. Under
The CFPB published a blog discussing a few key takeaways from a series of public hearings addressing appraisal bias. For background, the Federal Financial Institution Examination Council’s (FFIEC’s) Appraisal Subcommittee (ASC) has held four public hearings throughout 2023-2024 to facilitate discussions regarding bias and lack of diversity within the appraisal business.… Continue Reading Continue Reading…
The Texas federal district court hearing the lawsuit challenging the CFPB’s final credit card late fee rule (Rule) issued an order today setting April 2 as the date for a hearing on the plaintiffs’ motion for a preliminary injunction. Yesterday, the plaintiffs filed a notice that they are appealing to the Fifth Circuit the Texas federal district court’s “effective denial” of their motion for a preliminary injunction. … Continue Reading Continue Reading…
On March 25, 2024, three consumer financial services industry trade groups filed a lawsuit asking the federal district court in Colorado to strike down recent Colorado legislation purporting to opt out of a federal law that allows FDIC-insured state-chartered banks to “export” interest rates on interstate loans to the same extent as their national bank counterparts. … Continue Reading Continue Reading…
The CFPB recently announced the publication of the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Data for 2023. The data is available on the Federal Financial Institutions Examination Council (FFIEC) website. As was the case with the 2022 HMDA data, in addition to institution-specific modified Loan Application Register (LAR) files, users can download one combined file that contains all institutions’ modified LAR data.… Continue Reading Continue Reading…
Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that complies with the statute [Tex. Civil Practice and Remedies Code Section 16.038] resets limitations even if it is combined with a notice of reacceleration.” Moore v. Wells Fargo Bank, N.A., No. 23-0525, 2024 Tex. LEXIS 156, at *2 (Feb. 23, 2024). More › Tags: Compliance, Corporate Compliance, Mortgage, Mortgage Acceleration, Mortgage Debt, Mortgage Foreclosure, Mortgage Loan Acceleration, Mortgage Loans, Mortgage Servicers, Mortgage Servicing, Regulatory Compliance, Reverse Mortgage, Statute of Limitations, Texas
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) issued its revised rule addressing how financial institutions can appeal their compliance ratings or adverse material findings by the Bureau. The rule is an update to the Bureau's November 2015 revisions. More › Tags: CFPB, Compliance, Consumer Financial Protection Bureau, Financial Regulatory
On January 18, 2024, the United States Supreme Court heard oral arguments in two cases challenging the Chevron doctrine of statutory interpretation, Loper Bright Enterprises, et al., v. Gina Raimondo, Secretary of Commerce (Loper-Bright) and Relentless, Inc. v. Department of Commerce (Relentless). Under the Chevron doctrine, courts are supposed to grant deference to an agency's reasonable interpretation of an ambiguous statute. More › Tags: Financial Regulatory, Regulation, Regulatory, Statutory Interpretation
As of January 1, 2024, the Louisiana Office of Financial Institutions (OFI) is accepting registration of private education lenders. This registration requirement is applicable to nonexempt businesses making or holding private education loans and is the result of the passage of the Louisiana Private Student Loan Registry law. More › Tags: Department of Education, Education, Education Debt, Financial Registration, Louisiana, Private Colleges and Universities, Private Student Loans, Student Loans
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