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Remember all the fuss early last month about the interest rates on student loans suddenly spiking if Congress didn’t act? Student loan interest rates would effective double for just about everyone.
Arrow Global, a debt buyer headquartered in Manchester, UK, is looking to grow its share of the international ARM market.
The CFPB Examination Manual is an 802 page document outlining the procedures the CFPB will follow to examine debt collectors and other financial institutions. Here are the parts relevant to the ARM industry.
A California General Assembly committee approved a bill Wednesday that would place more restrictions on debt buyers operating in the state. The primary impact of the bill would be to require more documentation from buyers during the debt collection process.
The bill – SB 890, also known as The Fair Debt Buyers Practices Act – was passed by the Assembly Judiciary Committee. But the bill is significantly different than the one introduced last year.
The U.S. Supreme Court Thursday upheld, in large part, President Obama’s healthcare reform bill (Patient Protection and Affordable Care Act (PPACA).
Chief Justice John Roberts sided with the more liberal justices in the case, which came down as a 5-4 majority decision. Most of the provisions of the bill were declared Constitutional. But a new rule that would strike funding from states refusing to participate in an expansion of Medicaid was thrown out.
I cannot count how many times I’ve taken a reporter inside a debt collection agency and introduced him or her to the collections staff, then watched as the reporter came away amazed that debt collectors are regular, everyday people.
Persolvo Data Systems, a leading provider of web-based settlement software and analytics tools designed to locate, identify and settle consumer accounts enrolled in debt settlement programs, announced today that it has joined ARMVend, the premier group purchasing organization in the accounts receivable management industry.
Access Receivables, a Maryland based national collection firm, has announced the expansion of its Access Education Services Division with the hiring of two executives who have extensive experience in student collections and debt management.
Four of the five largest credit card issuers in the U.S. last week reported declines for May in their net charge off rates in their securitized card portfolios.
U.S. Senator Al Franken (D-Minn.) said that he would introduce a bill Wednesday with tough new rules for medical debt collection agencies and healthcare providers. The new proposal would almost certainly be informed by a hearing Franken conducted last month on alleged debt collection abuses by Accretive Health on behalf of its client, hospital operator Fairview.
The bill would come on the heels of new debt collection rules for nonprofit hospitals proposed last week by the Treasury Department.