Did You Know – Tips for Data Protection on Personal Information
Information Compiled by: Kathy Linscott, NACM Commercial ServicesContent from Experian and Fair Credit Reporting Act (FCRA) Companies often keep sensitive personal information about customers or employees in their files or on their network. In today’s world, there is more and more fraud reported all the time. We all hold the responsibility of keeping this information […]
2019 National Credit Congress
The 2019 National Credit Conference this year was held in Colorado at the Gaylord Rockies. Below are a few photos from the event. Mark your calendars for the conference next year in Las Vegas from June 14 – 17, 2020.
An Update on Credit Card Surcharging in Canada: The Provinces have Approved the Class Action Settlements
By: Scott Blakeley, Esq., Blakeley LLP Credit teams throughout the US continue to deal with the dramatic increase of customers in the B2B space using credit cards to pay invoices. But the dramatic increase in card use for B2B payments is not limited to domestic customers. Canada has seen a comparable jump in the number […]
For Users of Consumer Reports – What You Should Know
– Information provided by Experian & the text is set forth in full at the Consumer Financial Protection Bureau’s Website at www.consumerfinance.gov/learnmore. I. OBLIGATIONS OF ALL USERS OF CONSUMER REPORTS A. Users Must Have a Permissible Purpose Congress has limited the use of consumer reports to protect consumers’ privacy. All users must have a permissible […]
Data Contribution – Because the Stork is Busy.
By: Shannon Abnal, NACM Commercial Services I was talking with a member recently who was disappointed in the credit report he pulled on a customer. The credit report showed a couple of tradelines which indicated the customer to be prompt in payment history. He called the customer “a habitual slow-pay and a royal pain in […]
Industry Group Spotlight – Western Region Building Materials Credit Association
The Western Region Building Materials Group is a progressive group of building materials distributors and/or manufacturers, all selling in the western U.S. This group is engaged in the exchange of credit experience information to assist each credit manager in their own respective credit decisions for their companies. The group has been successful in entertaining other […]
Patterns in Markets and Financial Statements to Be Mindful of When Making Risky Credit Decisions
By: Christie Citranglo, NACM editorial associate When working with customers, paying attention to the volatility of the current market can be a deciding factor when extending credit to a new or existing customer. Terms can be impacted by the state of the current economy, and customers may have complications in their industry due to bullish […]
Experian Moody’s Analytics Report Q4 2018
With the release of the Experian/Moody’s Analytics Q4 2018 Main Street Report, you can view the latest insights on small business credit conditions; interact with dynamic graphs; read commentary from the economists at Moody’s Analytics and share them with your network. Use the latest quarterly small business credit data to spot trends before they affect […]
When’s the Best Time to Help Yourself Collect a Delinquent Account? When You Get the Signed Credit Application and Before You Ever Ship!
Written By: Rod Wheeland, Wheeland Consulting Over the years I’ve reviewed hundreds of credit applications used by trade creditors. They sometimes have a limited terms and conditions section – which sets expectations and the tone for the relationship. And they may leave out important provisions that give you a leg up in resolving delinquency. They […]
When Technology Isn’t Enough: Personalizing the Creditor-Customer Relationship
Credit managers are seeing the profound effects of technology in their day-to-day operations. Software programs are conducting credit investigations, sending customers collection notices and even handling payments once they are received. In a job where efficiency is key, technology is certainly beneficial; however, credit professionals are finding there is one task technology cannot replace: personalizing […]