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Graduation

Graduation: ARM-U 2015 Highlights Need for Regulatory Clarity

Some questions had definite answers from panelists; however, many of the questions highlighted confusion within the laws and regulations themselves. While the FTC requires one thing, the CFPB may require something entirely different — and often contradictory. And because there is little cohesion among state laws, compliance suffers across the board. Still, even recognizing the areas of confusion can help an agency in their compliance plan. Better still, though, would be some kind of definitive answer.

Credit-Card Industry Faces "Volcanic" Senate Eruption

Is It Illegal to Charge Credit Card Convenience Fees?

Charging convenience fees: should you or shouldn’t you? The practice might be the next battleground for the debt collection industry. As with many regulations, there are more questions than answers — and the answers that are available aren’t to everyone’s liking. Join attorneys John Rossman and Mike Poncin, of Moss & Barnett, to get another point of view on fees and debt collection.

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Oral Arguments in CFPB v. Hanna Suggest Long Road Ahead

Oral arguments on the Defendant’s Motion to Dismiss the CFPB action against the Georgia law firm Frederick J Hanna & Associates P.C. were held on June 3rd. The stakes are high, not only for the Hanna law firm, but also any law firm that handles a high volume of consumer debt collection matters. The case should be front and center for all law firms practicing in this space.

Sight

Now in the CFPB’s Sights: Collectors Hired by State & Local Government Agencies

These collectors operate outside the purview of the CFPB and with the full authority of those government agencies. These collectors frequently charge exorbitant fees and often hold the ability to effect wage garnishments, arrest, and even foreclosure against consumers. The consumers most vulnerable economically, are often caught in this cycle compounding the possibility of mistreatment.

FCC

6/18/2015: FCC’s Post-TCPA Decision Press Release

WASHINGTON, June 18, 2015 – The Federal Communications Commission today adopted a  proposal to protect consumers against unwanted robocalls and spam texts. In a package of  declaratory rulings, the Commission affirmed consumers’ rights to control the calls they receive.  As part of this package, the Commission also made clear that telephone companies face no legal […]

Mergers

New Opportunities for ARM in the U.S. Insurance Market

The U.S. insurance market generated more than $2.2 billion in total revenue in 2014. This market is intriguing in the way that bad debt is not as critical to the success of ARM operations because there is such a high volume of billing, coding, claims processing and other non-bad debt collection services. It provides ARM companies diversification in industries served in addition to diversification in the type of collection and other outsourced services.

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No FDCPA Violations in Simon After Remand

Two years ago, in Simon v. FIA Card Services, N.A., the Third Circuit held that alleged violations of the FDCPA resulting from conduct in a bankruptcy case were not precluded by the Bankruptcy Code. Now on remand, the district court has granted the defendants’ motions for summary judgment, holding that the alleged irregularities with the subpoena were immaterial and would not mislead a competent attorney regarding a consumer’s rights.

fined

CFPB Takes Action Against Medical Debt Collector, Largely For Lack of Policies and Procedures

Yesterday, the CFPB announced an enforcement action against a medical debt collection company for mishandling consumer credit reporting disputes and preventing consumers from exercising important debt collection rights. The company is ordered to provide over $5.4 million in relief to harmed consumers, and pay a $500,000 penalty. At the core is a lack of adequate policies and procedures.

Crossing the Finish Line

BillingTree Completes 2015 Payment Card Industry Data Security Standard 3.0 Audit

Phoenix, Ariz. – BillingTree® today announced it has once again successfully passed the PCI-DSS audit, this year audited under the new PCI 3.0 standards. The new PCI-DSS is designed with an increased focus on operational standards, security and training to provide greater clarity, flexibility and ease of implementation for vendors. The latest announcement is a continuation […]

medical-debt

Hospital Physician Partners Rolls Out CarePayment to Hospital Emergency Departments in More Than 20 States

Hospital Physician Partners (HPP) is one of the nation’s leading Emergency and Hospital Medicine contract management companies, partnering with hospitals in over 20 states. HPP has over 2,000 providers that will treat more than 2.4 million patients this year.  The Company is currently enhancing its patient services by adding CarePayment patient financing programs. With CarePayment, HPP patients can […]

certified-stamp

FBCS, Inc. Announces the Renewal of SSAE-16, PCI-DSS Certification and ISO 27001/27002 Compliance

FBCS continues to utilize the best in technology coupled with adhering to rigorous security standards to protect its clients and consumers. FBCS President, Joe Neary Jr, “I’m proud of our accomplishments, this is the 4th consecutive year we have sought independent certification for these standards. We continue to invest in training and technology to protect […]

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CFPB Finds 90 Percent Rejection Rate For Student Loan co-Signers Seeking Release

Today Rohit Chopra, the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman – who also just announced he is stepping down after next week - released a report finding high rates of consumers are being rejected for co-signer release on their private student loans, based on its review of industry practices. The Bureau uncovered problematic industry practices that may […]

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Financial Credit Network Inc. Employees Participate in Project Hope

Visalia, CA — All it takes is one opportunity to plant the seed of community service.  Project Hope is Financial Credit Network Inc.’s way of planting seeds within their staff.  This program is a month long initiative encouraging employees to give hope through service.  This year’s benefactors included FoodLink, Habitat for Humanity and Hands in […]

welcome!

Executive Change: Noted Collections Compliance Attorney Gary Becker Joins Ballard Spahr in Atlanta

Ballard Spahr is pleased to announce that Gary W. Becker, an attorney and business leader who has worked in the collections industry for nearly 30 years, has joined Ballard Spahr as of counsel in our Atlanta office. As a member of the firm’s nationally recognized Consumer Financial Services Group, Mr. Becker will advise banks, creditors, […]

scholarship

Account Control Technology Foundation Announces Winners of $50,000 in College Scholarships for 2015

WOODLAND HILLS, Calif. – The Account Control Technology Foundation (herein ACT Foundation) is pleased to announce the 50 winners of its annual $1,000 college scholarships. The 2015 winners’ lists for the ACT Foundation’s two programs can be accessed on its website at: http://accountcontrolfoundation.org/winnersLists.php “This year, we had a record number of scholarship applications from an incredibly […]