Stephanie Levy is the Online Content Producer for insideARM.com. She develops, writes and markets multimedia content for the Research Library and news stories for insideARM. Stephanie has seven years of journalism experience in web, television and print, covering everything from robots to dumpster-diving for beer (seriously). Stephanie has a Bachelors of Journalism in Radio-Television Journalism from the University of Missouri-Columbia. Follow her on Twitter, @stephanie_levy, if you like debt collection news and Missouri sports.
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Knock knock. Who’s there? CFPB. CFPB who? CFPB auditors. May we please see your account records and compliance policies? Once you’ve picked yourself up off the floor from laughing so hard at the punch line, check out our latest homepage poll to let us know where your compliance policies stand. At the most recent insideCompliance […]
Experts say these laws and regulations may be the top four areas you should expect the CFPB to examine during a collection agency audit. Fortunately, getting organized early can help avoid confusion when the CFPB asks to see your policies. That’s why we compiled the top questions and expert insight from our insideCompliance webinar into one user-friendly report, To the […]
It’s the most wonderful time of the year, and I’m not talking about Fat Tuesday…or National Pancake Day…or the weather across the mid-Atlantic. I’m talking about something even better: National Consumer Protection Week. Excited yet? This year, National Consumer Protection Week couldn’t come at a better time. While the Federal Trade Commission is promoting a […]
2014 has just begun, and U.S. district courts have already seen a 19 percent increase in Fair Credit Reporting Act filings and a 30 percent increase in Telephone Consumer Protection Act filings. At the same time, filings for violations of the Fair Debt Collection Practices Act dropped 26 percent. In January 2014, more FDCPA lawsuits […]
JP Morgan Chase’s annual 10-K report to the SEC reveals some critical details about the mega-bank’s debt collection practices. In 2013, JP Morgan Chase recovered $593 million of charged-off credit card debts, continuing a three-year trend of anemic debt recovery. In 2010, the country’s biggest bank recovered $1.37 billion from unpaid credit card bills it had […]
A newly-proposed Senate bill would restrict data brokers from collecting or soliciting consumer information in deceptive ways. The Data Broker Accountability and Transparency Act, introduced by Sens. Jay Rockefeller (D-W.Va.) and Edward Markey (D-Mass.), would also let consumers access and correct their information, and opt out of having it sold for marketing purposes. “Consumers deserve to know […]
The House of Representatives passed a resolution Wednesday permitting floor debate on a bill that would overhaul the leadership structure of the Consumer Financial Protection Bureau. HR 3193, sponsored by Rep. Sean Duffy (R-Wisc.), would create a five-member commission to lead the Bureau and submit the CFPB to the Congressional appropriations process. In addition, the […]
A new report from the Office of the Inspector General of the U.S. Postal Service proposes using the Postal Service for a variety of financial services for low-income Americans, including small loans and debt collection. The idea got a high-profile endorsement from Sen. Elizabeth Warren (D-Mass.) Saturday in an op-ed for Huffington Post. According to […]
Tuesday night, President Barack Obama used his fifth State of the Union speech to outline the “year of action” he wants to take in public policy, with or without the help of Congress. One of the key issues he addressed was student loan debt. According to the administration, there are 37 million student loan borrowers […]
In her keynote address at the insideARM Large Market Participant Summit Thursday, Linda Gallagher, Managing Director and Global Head of the Consumer Protection Practice at Promontory Financial Group, said the rush towards compliance in the debt collection industry is the fastest she’s seen in her 30 years in the financial services sector. Technology will play a huge role in compliance going forward.