Stephanie is president & CEO of The iA Institute, an organization dedicated to bringing perspective to the complex business of past due receivables through insight and collaboration. The iA Institute publishes insideARM.com and insidePatientFinance.com, hosts the annual Large Market Participant Summit, and manages the Consumer Relations Consortium. Anyone who knows Stephanie will immediately tell you that her passion is in organization. Literally – she loves a clean desk, a well-labeled closet, an elegant process, a useful spreadsheet.
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On Tuesday, Senior Vice President at Wells Fargo Bank Larry Tewell moderated a discussion titled “Implications for Default Management” among a panel of regulators at the Consumer Bankers Association national conference, CBA Live
Yesterday at CBA Live, the annual conference of the Consumer Bankers Association, I attended a session geared to bankers called “Understanding the CFPB’s Supervisory Program.” It was interesting to hear about the frustration some banks are having with supervisory examinations.
The challenges facing debt collectors – and creditors, and consumers – today are more than 30 years in the making and have compounded over time. So it’s the perfect opportunity to get everyone in the same room to talk it out.
Friday’s farewell from NARCA president Lou Freedman and welcome from new executive director Mark Dobosz at NARCA’s fall conference in Washington D.C. were highly positive, and offered some transparency about the association.
The National Association of Retail Collection Attorneys (NARCA) announced a new executive director this summer. Mark Dobosz joined the ARM legal trade group at a very interesting time, and he has been furiously learning about the industry.
The CFPB Wednesday released a fairly detailed report on its examination activities from November 2012 through June 2013. The report focuses on bank and non-bank mortgage servicers. While debt collection is not specifically covered, there are definitely useful hints of what examiners are looking for during their audits.
The federal campus-based Perkins Loan Program is in doubt. In recent years, it has been funded solely by repayments of previously issued Perkins loans. Due primarily to unreimbursed loan cancellations in recent years, and the fact that capital contributions haven’t been made to the program since 2004, repayments have been down; this has reduced the […]
The overwhelming majority (82.3%) of complaints was submitted via the CFPB’s online consumer response portal. This is a significant increase from the 37% of collection complaints received online in 2012 by the FTC (26.4% were received by phone, while over 19% came through the PrivacyStar mobile app).
A great deal of time and money is being spent on supervision, enforcement, rule-making, and politics. Okay, perhaps that’s needed right now, for immediate problems. But that’s not going to get at the root cause of what’s ailing consumers.
Yesterday, the CFPB released a series of letters that consumers can use to communicate with debt collectors to request more information, inform them they are disputing a debt, and other topics. On the other side of the coin, how about issuing model letters for debt collectors to send to consumers for standard communications?