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.
Three Congressmen wrote a letter to the Department of Education this week urging careful scrutiny of a plan that would see 56 campuses previously owned by Corinthian Colleges, Inc. sold to ECMC Group, a student loan guarantor and parent company of a student loan debt collection agency. The letter cited debt collection tactics, among other things.
The U.S. added an unexpectedly large 321,000 jobs in November, the largest single-month gain in nearly three years according to the Labor Department’s Friday release. The unemployment rate remained at 5.8 percent due to slightly more people entering the workforce.
Using reasoning from a controversial Circuit Court decision involving a debt collection agency, a federal judge in California has denied Twitter, Inc.’s motion to dismiss a class action TCPA case that alleges it used an “automated telephone dialing system” to send text messages to cell numbers belonging to consumers that had not consented to receive them.
New York State’s Department of Financial Services Wednesday announced the formal adoption of new debt collection regulations that place new specific disclosure and written communication requirements on third party debt collectors and debt buyers. In addition to new requirements, the rules also create a structure for the use of email in debt collection efforts.
insideARM today announced the addition to its staff of Terri Haley as Director of Compliance, and the promotion of Mike Bevel to Director of Education. These changes are part of an overall strategy to provide deep and specific educational content as well as peer networks to the ARM industry.
A bipartisan coalition of 38 state attorneys general last week sent a letter to the FTC urging the regulator to update the Telemarketing Sales Rule “in order to reflect realities of today’s marketplace and better protect consumers from unscrupulous telemarketers.” Currently-evolving alternative payment methods are a focus of the request as is a proposal to force telemarketers to keep and maintain call records.
After a string of debt industry victories claiming violations of the FDCPA in voice messages, a collection agency in South Carolina last month was handed a defeat by a federal judge for failing to properly identify itself in a voicemail. The judge used the Foti decision in her opinion on the case.
The Consumer Financial Protection Bureau (CFPB) is holding a field hearing on Thursday, December 11 in Oklahoma City to discuss medical debt collection.
In October 2014, consumers filed 911 lawsuits claiming violations of the Fair Debt Collection Practices Act (FDCPA), up 13.4 percent from September and an increase of 16.1 percent from October 2013. But total FDCPA lawsuits are still on track to finish well below 2013 numbers, which would mark the third straight year of declines.
The Consumer Financial Protection Bureau (CFPB) recently released two reports that shed a little light on how the Bureau is currently approaching debt collection regulation and provided a hint that any new debt collection rule proposals may be delayed well into 2015.