Stephanie is CEO of The iA Institute, a digital media company that specializes in providing insight and practical information to the complex debt industry. She has grown the company from its beginning as publisher of a daily newsletter (insideARM) to one that influences the industry at the highest level. In addition to publishing insideARM.com, the iA Institute runs the Compliance Professionals Forum (a membership organization that provides context and practical support for day-to-day compliance challenges), and manages the Consumer Relations Consortium (an extremely active group of nearly 30 larger market participants who discuss evolving practices, and regularly engage with consumer advocates and regulators to affect industry rulemaking).
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The United States Government Accountability Office (GAO) released a report last week that found that small business representatives (SERs) participating in the Consumer Financial Protection Bureau’s (CFPB) recent SBREFA processes thought they were too rushed. According to the report, the Regulatory Flexibility Act requires CFPB to convene Small Business Review Panels (also known as SBREFA panels) for rulemaking efforts […]
On August 4, 2016 the CFPB released a rule providing safe harbors from liability under the FDCPA for certain actions taken in compliance with mortgage servicing rules, but after the consumer has made a cease communication request. This will interest the ARM industry more broadly as it may signal a willingness to provide safe harbor where notification requirements are in conflict with the consumer’s interests.
According to an article in the Chicago Sun Times today, Illinois Governor Bruce Rauner vetoed a bill last Friday that would have allowed Cook County and Chicago to use third party debt collectors to pursue delinquent tax debts. Evidently, Rauner felt that this would “penalize property owners who are already facing skyrocketing property taxes.” The […]
This is the fourth in our series of “perspective” articles about the CFPB’s Outline of Proposed Debt Collection Rules, released last week. This post covers the subjects of litigation disclosure and time-barred and obsolete debt, which includes some of the most problematic proposals in the CFPB’s Outline for those who engage in litigation and/or collect late-stage or out-of-statute debt.
Amidst the whirlwind of information released in the last week by the CFPB regarding debt collection, you may have missed that – also last week – the CFPB’s Consumer Response division published a notice in the Federal Register for a “new information collection” aimed at further improving the complaint process for consumers and companies. NOTE: […]
Last week the CFPB released its 117-page Outline of Proposed Rules for debt collection in anticipation of the next step in rulemaking, the SBREFA panel, to be held on August 25th. insideARM is breaking down those proposals for our readers in a series of posts covering the range of topics addressed. Our first post – insideARM Perspective […]
The CFPB has just announced a field hearing in Sacramento, Calif., about debt collection. The hearing will take place on Thursday, July 28 at 11 a.m. PDT (Location to be announced). This was expected, as the Bureau has been making plans for the next phase in debt collection rulemaking, the SBREFA hearing.
Yesterday the U.S. District Court for the Southern District of Alabama affirmed the lower court’s decision in favor of the defendant in the case of Mahala A. Church v. Accretive Health, Inc. (Case No. 15-15708, United States Court of Appeals for the Eleventh Circuit) A copy of the case can be viewed here. The Appellant […]
Among the many alerts I receive each morning, I noticed this blog today on The Huffington Post. It’s titled Debt Collector Madness, and Owning the Infinite, Creative Power of Thought. In spite of the title, it’s really more about spirituality and controlling one’s thoughts. However, I noticed that it’s also a tale of an unremarkable, […]
Reveal – from The Center for Investigative Reporting, has produced a series of articles related to student debt. Who got rich off the student debt crisis – A story about how, by privatizing the student loan program, Congress created a profit center for Wall Street and a system of college finance that created a kind […]