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CFPB Files Amicus Brief in FDCPA case

Last week the CFPB, jointly with the FTC, filed an amicus brief with the U.S. Court of Appeals for the Third Circuit in Bock v. Pressler & Pressler, LLP. In the case a U.S. district court previously ruled that a debt collection law firm violated the Fair Debt FDCPA by filing a complaint without “meaningful attorney involvement.”

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CFPB Takes Action against Springstone Financial, LLC; Collectors Should Take Note

The CFPB has ordered Springstone Financial to provide $700,000 in relief to victims of deceptive credit enrollment tactics, stating that many consumers who signed up for Springstone’s deferred-interest loan product at dental offices to pay for dental work were led to believe that the product was interest free. In fact, interest accrued from the date of the consumer’s purchase and was charged if the balance was not paid in full before the promotional period ended. Turns out this is a lesson in training, monitoring, and UDAAP violations.

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Deceased Account Collections Requires A Specialized and Compliance-Based Approach

Having a plan in place for how your company will manage collections of deceased account holders will go a long way toward making sure this delicate situation is handled with extra care. It is important to note that the baby boomer generation is far more credit savvy, and will expect there to be a disciplined process around this inevitable event. Additionally, it is essential that your plan is well thought out, and in compliance with regulations.

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The Latest Curve In CFPB vs. Hanna

On Monday July 27, 2015 Hanna filed a “Motion to Certify [the case] for an Interlocutory Appeal.” An interlocutory appeal an appeal of a specific ruling by a trial court, and asks an appellate court to review a significant aspect of the case before the trial has concluded. This is an extraordinary action, as courts prefer a case proceed to conclusion on its merits and do not like to break up litigation into multiple parts.

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Helen Mac Murray, Attorney General Consultant to DBA International, Selected for Inclusion in Best Lawyers in America® 2016

Attorney Helen Mac Murray of Mac Murray, Petersen & Shuster LLP (MPS) and Attorney General Consultant to DBA International, has once again been selected for inclusion in The Best Lawyers in America® in the field of Government Relations Practice. This is Mac Murray’s second year in a row receiving this distinctive recognition. Since it was […]

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Dept. of Education PCA Program Still a Driver of Small Business Growth

The U.S. Department of Education (ED) Private Collection Agency (PCA) program remains an opportunity for small businesses despite recent wrangling over five contractor suspensions in March and a bid process for large (“unrestricted”) contractors still incomplete after two years. Goals have gone up over the last two years, with ED’s prime and subcontracting goals now at 20% and 33%, respectively.

Got ethics ?

DBA International Updates its Code of Ethics

DBA International announced a major update to its Code of Ethics which was adopted at its August 13, 2015 Board Meeting. The comprehensive update adds clarity to the industry’s rigorous ethical standards while seamlessly integrating the consumer protections contained in DBA International’s Receivables Management Certification Program.

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Sentry Credit Acquires West Coast Adjusters

Sentry Credit Inc., a nationally licensed Accounts Receivable Management (ARM) Company based in Everett WA, announces the acquisition of West Coast Adjustors, a collection agency that has been servicing the medical community for over 33 years. Co-founder James L Stewart stated “We couldn’t be more proud to represent the West Coast Adjusters brand”. Former owners […]

Power Lifter

Encore Capital Group Announces Strong Second Quarter 2015

Yesterday Encore Capital Group (ECPG), an international specialty finance company with operations in eight countries, reported its financial results for the second quarter of 2015 ending June 30, 2015. Second Quarter Highlights Gross collections from the portfolio purchasing and recovery business grew 7% to a record $437 million, compared to $409 million in the same period […]

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Consumer Relations Consortium Submits Response to CFPB’s RFI on Complaint Data Normalization

ROCKVILLE, MD – Yesterday the Consumer Relations Consortium (CRC) submitted comments in response to the Consumer Financial Protection Bureau’s (CFPB) request for information (RFI) on complaint data normalization. The CRC is a group of more than 20 Larger Market Participants (LMP) in the debt collection industry who proactively engage with regulators and consumer advocacy groups […]

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Contract Callers Goes Live with State-of-the-Art Collection System from Interactive Intelligence

AUGUSTA Ga. – Contract Callers Inc. (CCI), a leading provider of debt collection and call center services in the utility, telecom, financial services, and government sectors, has deployed Interaction Collector (formerly the Latitude software suite) from Interactive Intelligence. Interaction Collector provides comprehensive payment processing, credit reporting, dispute resolution, workflow and client reporting tools. “Interaction Collector’s […]

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“Human Intervention” by Strip Club is Sufficient to Defeat a TCPA Claim

In a decision issued on August 19, 2015, Magistrate Judge Howard R. Lloyd of the U.S. District Court for the Northern District of California ruled that “human intervention” defeated a claim that a strip club contacted a consumer using an ATDS in violation of the TCPA. This may be the first time in the history of this publication that we have highlighted a case involving a strip club. However, regardless of the type of business, the case is relevant to the industry.

Economic Data

Stellar Recovery Deploys Revolutionary Predictive Modeling Technology for Big Return on Investment

Since 1977 John Schanck, Chairman of Stellar Recovery, has been in the debt recovery business and has seen just about every technological advance in the industry. From automated collection systems to auto-dialers to emailing, the application of technology has proliferated through the $14 billion a year industry. But it was only after reading an article about “big data” […]

Welcome

Executive Change: Mike Figgins Named CIO at Windham Professionals

Salem NH -  Windham Professionals is pleased to announce the appointment of Mike Figgins to Chief Information and Technology Officer.  Throughout a 25-year career, Mike successfully led software engineering, end-user computing, network engineering and telecommunications teams with a leadership style guided by key principles of transparency, clear expectations and coordinated execution.  His experience delivering software and […]