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CFPB: For Heaven’s Sake Help Consumers Communicate about Their Student Loan Resolution Options

Collectors on the Department of Education contract tell me the same thing. They have so many options for borrowers; if they could only get them on the phone to discuss! Good collectors are counselors, listening to the consumer and finding the right way to resolve issues. And with student loan repayment options as good as they are- these should all be GREAT conversations with good outcomes for the borrower.

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Federal Judge Sides with Collection Agency and Debt Buyer in Letter Class Action

A federal judge in Illinois two weeks ago dismissed an FDCPA class action filed against a debt buyer and its contracted collection agency over the use of the word “transferred” in a collection letter explaining why a new company was attempting to recover the debt. The case had been granted class action status and will be appealed to the Seventh Circuit.

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Supreme Court to Hear Case on Statutory Damages Without Actual Harm; Could Impact FDCPA Cases

The U.S. Supreme Court has agreed to hear an important case that will decide whether a plaintiff who cannot show any actual harm from a violation of the FCRA nevertheless has standing to sue for statutory damages in federal court. The consequences of the decision will likely extend significantly beyond FCRA litigation and affect numerous other statutes, including the FDCPA and TCPA .

Invisible Man

CFPB Issues Report on “Credit Invisible” Consumers

Yesterday the Consumer Financial Protection Bureau (CFPB) issued a report titled “Credit Invisibles” (link to report). The report concludes that one in 10 adults in the United States, or about 26 million consumers, are “credit invisible.” Consumers that are credit invisible do not have a credit history with any of the three nationwide credit reporting […]

student-loan-debt

Five Percent of Recent Grads Say They’ll Never Pay Off Their Debt

On the same day that the Consumer Financial Protection Bureau (CFPB), the Department of Education, and Department of Treasury release a joint Request for Information (RFI) about student loan servicing, the website MagnifyMoney.com has released the results of a survey of student loan borrowers about their finances. They surveyed 1,000 adults under age 35 who […]

presidential seal

Robert Bernstein Named President Of The Commercial Law League of America

The Commercial Law League of America (CLLA) is pleased to announce that Robert S. Bernstein, of Bernstein-Burkley, P.C., in Pittsburgh, PA, will serve as its 2015-2016 Board of Governors president. This makes Bernstein the only two-term president other than the group’s founder, William Sprague, in 1896. Since joining the CLLA in 1975, Bernstein has held […]

7 Crucial Compliance Conversations Downloadable Cover

Seven Crucial Compliance Conversations for Every Hospital CFO

With alarming frequency, patient complaints are making their way up the chain through both for-profit and nonprofit hospitals – all with the support, and in some instances, encouragement, of the Federal government. Hospitals and their service providers are under the mistaken assumption their operations are flying below the CFPB’s radar. Unfortunately, nothing can be further from […]

medical-bill

Rozanne Andersen on Regulation – Medical Debt Trends

Kaulkin Ginsberg is proud of our longstanding relationship with Rozanne Andersen, Chief Compliance Officer of Ontario Systems. Rozanne’s perspective on the regulatory climate impacting all facets of accounts receivable management (ARM) is unparalleled.  The following is an excerpt of her findings written exclusively for KG Prime members.  ARM executives are still spinning from the compliance […]

Student Loan Debt

Interactive Intelligence Helps Companies Improve Student Loan Debt Collection

Interactive Intelligence Group Inc., a global provider of collaboration, communications and customer engagement software and cloud services, has released Interaction Collector® for Student Loans. Interaction Collector® for Student Loans helps companies automate the collection process for past-due private and Department of Education student loans. “The flexibility and tracking tools of Interaction Collector® for Student Loans […]

Social Responsibility

KM²Cares: KM² Solutions’ Corporate Social Responsibility Initiatives

At KM² Solutions, success as a multinational business is grounded in becoming a positive and contributing member of the local communities where the company operates.  Its commitment to employees, the environment, and local charitable organizations has become an inalienable part of its operations and strategy.  These initiatives are made possible by KM²Cares, the company’s internal […]

washington dc

District of Columbia Council Seeks to Tighten Rules for Debt Buyers

Continuing a state regulatory trend, a bill has popped up in the Council for the District of Columbia that would tighten rules related to debt buyers. The complete bill is in the following link: http://lims.dccouncil.us/Download/33762/B21-0190-Introduction.pdf  While this bill has quite a way to go before becoming law, we noticed the following elements that are concerning […]

court

Victory for ARM Industry in Ninth Circuit Case

Yesterday the United States Court of Appeals for the Ninth Circuit issued a 3-0 Opinion (add link) in favor of the ARM industry in an FDCPA case entitled Ninth Circuit Opinion in Diaz v Kubler. The appeal involved a suit by a debtor against a debt collector alleging that by sending a collection letter that sought 10 percent interest on the debt the debt collector violated §1692f(1) of the FDCPA and also California’s Fair Debt Collection Practices Act (the Rosenthal Act).

In Writing

In Writing: What the New West Virigina Updates Mean for Debt Collectors

West Virginia had once been described as one of the most treacherous states within which to conduct debt collection business. Collection agencies were frequently sued by consumers for contact after the consumer alleged to have retained an attorney. Some updates to the West Virginia Consumer Credit Protection Act, however, could offer both clarity and protections for collection agencies.

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Crucial Compliance Conversations for Every Hospital CFO

The following is an excerpt from Ontario Systems‘s latest white paper, “Seven Crucial Compliance Conversations for Every Hospital CFO.” Crucial Conversation #2 “Do we credit report? If so, should we stop?” On December 11, 2014, the CFPB conducted a field hearing in Oklahoma City on medical debt collection practices and the relationship between those practices and […]

ARMing Heroes

Honor a Vet in Your Life on ARMing Heroes’ Facebook Page

With Memorial Day quickly approaching, ARMing Heroes (www.armingheroes.org), the collection industry’s charity for military veterans, invites you to publicly honor the dedicated service of a veteran on its Facebook page now until midnight this Monday, Memorial Day. This open invitation may include mentioning a veteran on the page who is still with us, or sharing […]

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Richard Sleeth Joins Stellar Recovery, Inc. as Executive Vice President of Sales

John Schanck Chairman of Stellar Recovery announced today Richard Sleeth has joined the company as Executive Vice President of Business Development.   Sleeth brings over 12 years of industry experience and has been very successful in working with Fortune 500 Companies. I am extremely excited to join the Stellar Team and look forward to working with […]