Strengthening your armor against debt collection attacks

first_imgThe CFPB has issued its annual Fair Debt Collection Practices Act report to Congress. This year’s report outlined debt collection activities conducted by the CFPB and regulator partners in 2015. The report is the fifth of its kind and gives a glimpse into the focus of the CFPB’s enforcement efforts. In the 91-page report, we learn that the CFPB returned $360 million to consumers wronged by unlawful debt collection practices and collected more than $79 million in fines. It’s easy to draw the conclusion that this is an area of heightened scrutiny. Take a look at the top violations outlined in the annual report to see if your institution has any potential weaknesses and chinks in its armor.In 2015, the CFPB handled approximately 85,200 complaints in 2015. In addition to this high number of complaints, the bureau noted that it has seen a significant increase in consumer Fair Lending Collection Practice Act litigation, with cases more than doubling in the last nine years.Here are the top five highlights from the report.Debt Collection Agency ExaminationsInstitutions found in violation with the Fair Debt Collection Practices Act were directed to improve employee training or to take other necessary steps to fully comply with the law. The top offenders were as follows: continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Equinor brings online cross-border North Sea field

first_imgNorwegian oil and gas company Equinor has started production from the Utgard gas and condensate field, spanning the Norwegian-UK border in the North Sea.Source: EquinorEquinor received consent from the Norwegian Petroleum Directorate (NPD) to start-up the Utgard field in the North Sea in August 2019.The project was delivered without any personal injuries, ahead of schedule, and 25% below the cost estimate, Equinor said on Tuesday.Recoverable Utgard resources are estimated at around 40 million barrels of oil equivalent (boe) and daily production on plateau will be around 43,000 boe.The field development consists of two wells from a subsea template tied back to the Sleipner field by a pipeline and an umbilical. The template is installed on the Norwegian side of the border, with one well on each side.The field was discovered in 1982 and a development has been considered several times. In 2016, Equinor acquired the UK share of the discovery to realize the development, which has become a profitable project even with substantially lower oil prices than we see today.The plan for development and operation and the field development plan were submitted to Norwegian and UK authorities in 2016. At that time the cost estimate was NOK 3.5 billion (fixed NOK), and start-up was scheduled for the end of 2019.“I am proud of the Utgard project being delivered at NOK 900 million below the cost estimate and ahead of schedule, but first and foremost of the project being delivered without personal injuries,” said Anders Opedal, executive vice president for Technology, Projects and Drilling in Equinor. First cross-border project  It is the first time Equinor leads a field development for recovering resources across the border between the Norwegian and UK continental shelves.“Good and efficient cross-border cooperation with both license partners and authorities has made the Utgard development possible, and I am pleased that we found solutions ensuring proper resource management on both sides,” said Opedal.“Through Utgard, we are maximizing economic recovery from the North Sea, and unlocking high value, low carbon intensity barrels in line with our strategy. We will continue to seek cross-border opportunities to add value on both sides of the border,” stated Arne Gürtner, senior vice president for UK and Ireland Offshore in Equinor.Utgard will be remote-operated from the Norwegian Sleipner field, where the well stream will be processed before dry gas is transported to the market through the Gassled pipeline system, and liquids are sent through the existing pipeline to Kårstø for further export to Europe. Utgard will also utilize Sleipner’s facility for CO2 purification and storage.“By reusing the existing infrastructure, we can, with relatively low investments, realize smaller discoveries that would not otherwise have been profitable enough to develop. At the same time, we are adding valuable volumes to Sleipner,” said Arne Sigve Nylund, executive vice president for Development and Production Norway in Equinor.Equinor Energy is the operator of the field with a 38.44% interest and Equinor UK Limited also holds a 38.44% interest. Other partners are LOTOS Exploration & Production Norge (17.36%) and KUFPEC Norway (6.2%).The field’s expected lifetime is beyond 2025.Equinor has also recently started production from a field located in the UK North Sea. Namely, Equinor produced first oil from the Mariner field in mid-August. It is expected to produce more than 300 million barrels of oil over the next 30 years.In related news, Equinor on Tuesday also revealed it had made a gas discovery in the Ørn exploration well south-west of the Marulk field in the Norwegian Sea.center_img Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.last_img read more

Lady Charger Linksters Battle BC Lady Eagles

first_imgTuesday night, the Girls Varsity Golf team played against Brown County at Salt Creek Golf Course.The individual medalist was Sidney Parmer with a score of 45.ND Scoring: Sidney Parmer 45; Katy Kinker 66; Laronda Schwartz 66. The Lady Chargers unable to post a team score due to only 3 athletes. BC scored 201.Courtesy of Chargers Coach Madeline Childress.last_img

Egypt did not want to ‘risk’ Salah, says coach Cuper

first_img0Shares0000Liverpool winger Mohamed Salah had to settle for a place on the bench as Egypt look to ease him back in after his injury. Photo/APYEKATERINBURG, Russia, June 15 – Mohamed Salah was kept on the bench in Egypt’s opening World Cup defeat against Uruguay on Friday because the team did not want to risk further injury to the Liverpool star.Salah, who turned 26 on Friday, injured his shoulder three weeks ago in Liverpool’s Champions League final defeat to Real Madrid. On the eve of the Uruguay match in Yekaterinburg, which the South Americans won 1-0, Egypt coach Hector Cuper said Salah was fit, raising the Pharoahs’ hopes that he would start the Group A clash.“He’s certainly important, nobody can deny that, but you need a good team too — and we are a good team,” said Cuper. “If Mo had been on the pitch it may have been different but we can’t know that.”“He did not play today because we wanted to avoid risk or danger but I think that he will be fine for the next match,” said the coach.“Yesterday we were quite certain that he would play. At the end of training he was examined in depth and there was some doubt if he fell or was hit by another player.“We thought perhaps he might get another injury and we want to avoid that so we decided not to take that risk.“We want him on top form for Saudi Arabia and Russia.”0Shares0000(Visited 1 times, 1 visits today)last_img read more

Transfer blow for Liverpool! Roma set to win race for Reds target

first_img Marseille star Andre Ayew Liverpool are set to lose out to Roma in the race to sign Marseille winger Andre Ayew.Ayew, whose contract with the French club expires at the end of the season, will join the Giallorossi in the summer on a free transfer.According to Sky Italia, the Ghanaian international will be offered a three-year contract worth around £2m per year.Liverpool were keen on signing Ayew as they look to bolster their attacking options in the close season.The 25-year-old was open to a potential move to Merseyside but with Liverpool’s chances of reaching the Champions League all but over, it is thought Ayew has turned his attentions to completing a move to Italy. 1last_img read more