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CFPB Outlines Debt Collection Rulemaking Proposals

The Consumer Financial Protection Bureau (CFPB) has released its long-awaited Outline of Proposed Rules governing third-party debt collectors. The proposal, released in advance of today’s 2:00 PM EDT CFPB Debt Collection Field Hearing in McClellan Park, California, is 117 pages and covers a wide range of topics that had been raised nearly three years ago […]

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Minnesota’s Automatic Dialing Statute: You May be Liable for Calling a Wrong Number in Minnesota

All debt collectors and others who call Minnesota telephone lines using a prerecorded or synthesized voice message with an auto dialer should know about the Minnesota Automatic Dialing-Announcing Devices statute, Minn. Stat. § 325E.26, et seq. (“ADAD Act”). In short, the Minnesota statute provides that if you call a Minnesota telephone line – residential or […]

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CFPB Settles With Affiliates of Debt Settlement Company For $107 Million

The Consumer Financial Protection Bureau (CFPB) reached a proposed $107 million settlement on Tuesday with several individuals affiliated with the World Law Group. According to the Bureau, defendants Derin Scott, David Klein, and Shannon Scott “received, directly or indirectly, funds or other assets” from World Law Group customers, after the debt settlement company collected millions in […]

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Plaintiff Counsel Threatened With Sanctions Responds to Judge in Experian “Meaningful Review” Credit Dispute Case

Last week insideARM reported on a case where New Jersey Judge Renée Marie Bumb dismissed what she termed a “frivolous” lawsuit against Experian in the recent, twinned cases Glenn Williams v. Experian and Lorissa Williams v. Experian. The case was interesting for the ARM industry because the Judge discussed “meaningful review or investigation” by an attorney prior to filing a complaint.

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Can Your Firm Pass This Test?

Athletes, sports teams, and entertainers are all evaluated by their ability to generate revenue, win championships, and gain critical acclaim. Public companies are assessed based on their stock performance; we can quickly see when an entity is at the top of its game and when it’s not. But what about a privately-held business? How can […]

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Rozanne Andersen to Present Findings from Cost of Compliance Survey at PowerUp 2016

Year-long study examines top factors that lower consumer litigation, damages, defense costs and complaints. MUNCIE, Ind. – Ontario Systems, a leading accounts receivable management (ARM) and healthcare revenue cycle management (RCM) technology and services provider, has announced its Chief Compliance Officer, former ACA General Counsel and CEO, and practicing attorney Rozanne Andersen, will present results […]

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Executive Change: Monarch Recovery Management Announces the Hiring of Sonia Kohli as Director of Business Development

Monarch Recovery Management Inc. a national leader in the receivables management industry, is proud to announce the recent addition of Sonia Kohli to the Monarch Recovery Management Inc. executive team. Ms. Kohli has been appointed Director of Business Development and will be responsible for Sales and all aspects of new client acquisitions. Ms. Kohli has […]

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Free Webinar: Effective Design Trends to Improve Consumer Response

WIXOM, Mich., – RevSpring’s next free webinar, which will take place on July 21 at 2 p.m. EST, will outline today’s design trends and principles to maximize revenue opportunities. “Effective Graphic Design for Results” will explore the following: Adapting to Changing Consumer Expectations Maximizing Design Tools to Ensure Response Impact of Quality Graphic Design Relevant Communication […]

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Kinum Team Rides to Support Multiple Sclerosis Research

Kinum, Inc., a national collection agency offering multiple solutions for businesses to better handle their accounts receivables, is a proud corporate contributor and participant in the annual “Multiple Sclerosis 150 – Virginia.” The MS 150 is an annual cycling event organized by the National Multiple Sclerosis Society which involves a 150-mile road cycling tour held […]

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FTC Action: Abusive Debt Collectors Banned from Collection Business

Two debt collectors and three companies charged with using false threats and other illegal collection tactics are banned from the debt collection business under a settlement with the Federal Trade Commission, which charged them as part of Operation Collection Protection, an ongoing federal-state-local crackdown on collectors that use deceptive and abusive collection practices. In October 2015, […]

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FBCS Completes Renewal of SSAE-16, PCI-DSS, and ISO 27001-27002 Certifications

HATBORO, Pa. – FBCS, Inc., a leading nationally licensed collection agency has joined a distinguished group of companies to receive the industry’s most widely recognized security certifications. During the most recent technology and security audits, FBCS earned their PCI-DSS certification as well as their SSAE16 and ISO 27001 & 27002. These prestigious certifications are the globally […]

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11th Cir. Holds FCRA ‘Reasonable Investigation’ May Require Assignee to Examine Account-Level Documents

The U.S. Court of Appeals for the Eleventh Circuit recently reversed in part a trial court’s ruling granting summary judgment in favor of a debt buyer, its affiliated debt collector and their parent company, holding that a reasonable jury could find that the defendants willfully violated the FCRA when they reported two charged-off debt accounts as “verified” without obtaining sufficient documentation that the debts in fact belonged to the plaintiff.

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insideARM Perspective on CFPB Proposed Debt Collection Rules – Communication Part 1

Earlier today we reported that the CFPB has taken the long-awaited next step in debt collection rulemaking activity by releasing an Outline of Proposed Rules in advance of the required Small Business Regulatory Enforcement Fairness Act (SBREFA) consultation process. The formal SBREFA hearing is scheduled for the week of August 22. The Outline of the CFPB’s […]

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Executive Changes: DCM Services Announces Three Executive Promotions

MINNEAPOLIS, Minn. — DCM Services, the industry leader in estate account recovery solutions, this week announced the promotion of three key executives: Tracey Bannochie is promoted to Chief Operating Officer (COO). Tracey brings over two decades of call center management experience to the DCM Services team. Her experience includes customer care through late-stage recovery operations, in addition […]

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Why Shopping for Payment Processing Rates is Short-Sighted

Looking beyond payment processing rates – Buying a car is an experience we often avoid because the selection is overwhelming and comparing cars is difficult, considering there are dozens of makes and models to choose from, and each with multiple options and upgrades available. Then there is the price. How can you possibly compare one to the other when none are really the same?

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Did the FCC Even Consider the Thousands of Responses to its Rulemaking Proposal?

Last Friday, Tom Wheeler, Chairman of The Federal Communications Commission (FCC) published a blog entitled “Cutting off Robocalls.” The portion of the piece that has received the most media attention was this: “In regard to the Commission’s expectations that carriers respond to consumers’ blocking requests, I have sent letters to the CEOs of major wireless and […]

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Latest Ontario Systems Whitepaper Examines Issues Around Self-Pay Revenue

According to Healthcare Finance News, more than half of provider bills don’t get paid. And for every dollar billed to patients, providers have historically failed to collect 65 cents. Providers are experts at managing insurance reimbursement, but collecting self-pay dollars is a different story. With the average annual deductible for covered workers increasing 255% since 2006 and projected […]