eNews Archive

Total bankruptcy filings increased 18% year-over-year in 2023—likely due to high interest rates, maturing business loans and inflation. Chapter 11 bankruptcies increased 72% year-over-year and Subchapter V filings rose 45%, according to a report from Epiq. “While representing a substantial year-over-year increase, total bankruptcy filings remain lower than the pre-pandemic total of 757,816 recorded in CY2019,” the report reads.

In today’s workplace culture, staff needs to know they matter and that they make a difference. Every member of a company wants their voice to be heard and more importantly, want their work and their presence to be valued. It can be a challenge to make everyone on the team feel appreciated, especially in larger teams, as everyone has their own way of feeling appreciated. Why it Matters: By learning about the different ways you can show appreciation for others, you not only improve your employee’s confidence, but make for a more efficient credit team.

All credit management responsibilities stem from one essential skill—the ability to form strong relationships. Business relationships have many layers, all of which credit managers must master. In global trade, credit professionals should try to understand the cultural differences of their customers overseas to ensure a successful relationship.

Housing starts rose to a 1-½-year high at 14.8% in November. According to a mid-December report from the U.S. Department of Commerce, permits for future construction of single-family housing in November increased to the highest level since May 2022.

Leadership is not just a title; it’s a commitment to steering the course of an industry that is ever evolving. The National Association of Credit Management (NACM) proudly introduces its newly appointed chair, a seasoned professional with a proven track record of excellence … JoAnn Malz, CCE, ICCE, director of credit, collections and billing at The Imagine Group LLC (Shakopee, MN). As a dedicated credit professional and NACM member, Malz has big plans and a strategic vision for the future of the industry and our association.

It looks like Congress made a New Year’s Resolution of its own: getting its homework done on time! Congress appears to have reached a tentative deal to keep the government open and fund it through Sept. 30. This is in stark contrast to the last two times (October and November of last year) in which a last-minute extension was passed with little notice and less than a day to spare. So, the question is: what changed?

We all know the saying “cash is king” rings as a true statement in the credit world. It’s critically important to look closely at where and how a business generates its cash, looking no further than the Statement of Cash Flows. This statement provides information on a business’s cash during a specified period, helping credit professionals analyze its financial health. Understanding cash flow is critical for assessing risk and the financial outlook of a company.

The Anti-Money Laundering Act of 2020 (AMLA) established the Corporate Transparency Act (CTA), which requires FinCEN to establish and maintain a national registry of beneficial owners of entities that are considered to be reporting companies. Information collected pursuant to the CTA will be stored in a private database, according to the American Bar Association (ABA). Enacted in 2021 but taking effect on January 1 of this year, the CTA intends to combat illicit activity including tax fraud, money laundering and financing for terrorism by capturing more ownership information for specific U….