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 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 […]
Last week Neustar, Inc. (NYSE:NSR) announced that it will separate into two independent and publicly traded companies. One company will consist of the majority of Neustar’s Information Services, while the other will focus on providing Order Management & Numbering Services, including NPAC (Number Portability Administration Center). Lisa Hook, currently President and Chief Executive Officer of […]
insideARM has learned from multiple industry sources that the CFPB has scheduled the next step in debt collection rulemaking, the Small Business Regulatory Fairness Enforcement Act (SBREFA) hearing, for the week of August 22, 2016.
Last week Congressman Matt Salmon (R-AZ) introduced H.R. 5413, The CFPB Data Accountability Act, to amend the way complaints are handled at the CFPB. This would be positive for the ARM industry. Unfortunately, Salmon is set to leave politics at the end of the year.
According to a release published yesterday, The Federal Trade Commission and the Office of the Florida Attorney General have charged a web of related defendants based in Orlando with bombarding consumers with illegal robocalls in an attempt to sell them bogus credit-card interest rate reduction and debt relief services. In all, the complaint alleges the defendants’ robocall […]
New mandatory credit bureau reporting process changes that had been announced earlier this year will become effective this Wednesday, June 15. The three major credit bureaus issued a memo in March, stating that the purpose is to provide consumers more transparency. The bureaus established the plan in conjunction with several states’ Attorneys General. New requirements […]
Late last week the Consumer Financial Protection Bureau (CFPB) announced it had taken action against a former Wells Fargo employee for an illegal mortgage fee-shifting scheme. The CFPB found that David Eghbali referred a substantial number of loan closings to a single escrow company, which shifted its fees from some customers to others at Eghbali’s […]