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Second Circuit Sides with CAC Financial on Reverse Avila Issue, Unpersuaded By Argument that Previous Accrual of Interest is Confusing to Consumer

On Monday, the Second Circuit issued a summary order in DeRosa v. CAC Financial Corp., No. 17-3189 (2d Cir. Oct. 29, 2018), upholding the district court’s summary judgment in favor of CAC Financial Corp. (CAC). The Second Circuit shot down the issue it did not address in Taylor v. Financial Recovery Services, Inc.: whether interest is still technically accruing for Avila purposes if the original creditor charged interest and the underlying credit agreement states that interest would accrue even in default.

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New whitepaper: Better data, better contact rates

Collections organizations rely on compiled credit bureau and demographic information for their contact strategies, but these methods have drawbacks: stale data, major gaps in coverage, and lack of any true insight into phone behavior. With this free whitepaper from Neustar, learn how collections organizations can significantly improve their contact rates with better information, such as:

  • Unique phone intelligence on activity and usage, to improve outbound dialing efficiency and right-party contact rates

  • Insights into when phones are most active, by day and by hour

  • Solutions to mitigate call-blocking and spam-mislabeling, and to ensure consistent caller ID display

Download the whitepaper for FREE right here.


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FTC and NY AG Sue Debt Collectors for Impersonating Law Enforcement, Inflating Amounts Owed

On October 23, 2018, the Federal Trade Commission and New York Attorney General filed a lawsuit against multiple defendants for a debt collection scheme where the defendants tricked consumers into paying more money than they owed.

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Women in Consumer Finance Conference

10 December 2018 at 06:00 p.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2018 – a conference and networking event for ALL women in consumer finance.

Event Details »


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