Patrick is the senior editor of insideARM.com. Patrick edits the ARM insider and all content appearing on insideARM. His work has appeared in numerous industry trade publications. Since 2002, he has covered or broken nearly every major news story impacting the accounts receivable management industry for insideARM.com. Previously, he was at finance research and consulting firm Corporate Executive Board after initially working in publishing out of college. Patrick holds a Bachelor of Business Administration degree from the University of Georgia, the flagship school of his home state. He currently lives in Silver Spring, Maryland with his wife and two daughters.
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Like similar efforts over the past several years, a Republican lawmaker has introduced legislation that would change the structure of the CFPB, and even its name. But unlike previous attempts, this particular bill is narrow enough in focus that it has a good chance of passing Congress, especially given the recent change in power in the Senate.
Next Tuesday, March 10, the Consumer Financial Protection Bureau (CFPB) will convene a public field hearing in Newark, N.J., to discuss arbitration. The field event will feature remarks by CFPB Director Richard Cordray, followed by a panel discussion with consumer groups and industry representatives.
Kentucky Higher Education Student Loan Corporation (KHESLC) today is issuing a Request for Proposal (RFP) for Collection Services for accounts held by the organization outside of Kentucky.
Publicly traded debt buyers Encore Capital Group (NASDAQ: ECPG) and PRA Group (NASDAQ: PRAA) recently announced financial results for the full year 2014 marked by record cash collections and revenues driven by acquisitions and global growth. But both also made special note of specific, ongoing CFPB investigations and the potential financial impact of resolving the actions.
Navient (Nasdaq:NAVI), the nation’s leading loan management, servicing and asset recovery company, announced last week that it has acquired Gila LLC. The Austin, Texas-based asset recovery and business process outsourcing firm focuses on the state and local government market, serving more than 600 clients in 39 states.
The U.S. Department of Education announced late Friday that it would “wind down” its relationship with five private collection agencies on its student loan debt collection contract that ED says were providing inaccurate information to borrowers regarding rehabilitations.
At a symposium in midtown Manhattan Thursday, three representatives from New York City and state financial regulators provided some clarity to recently-enacted rules impacting collection agencies, debt buyers, and collection law firms operating in the state.
The Federal Trade Commission, jointly with the New York State Office of the Attorney General, has filed lawsuits aimed at shutting down two particularly egregious and abusive debt collection operations centered in Buffalo, N.Y. that target consumers nationwide
The number of lawsuits filed by consumers under the Fair Debt Collection Practices Act (FDCPA) increased in January compared to the same period in 2014. Lawsuits citing violations of the Telephone Consumer Protection Act (TCPA) were down in year-over-year comparison. It reverses a trend from the past three years, but 2015 is still young.
Grimley Financial Corporation, a Haddonfield, New Jersey based healthcare collection agency, enters its thirtieth year of business today. Specializing in full service healthcare Revenue Cycle Management (RCM) solutions for hospitals and their affiliated physician groups, Grimley Financial has continually provided its partner clients with unequaled results, compliance and leading edge technology. Charles Grimley III, CEO, […]