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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An investigation conducted by the Dayton Daily News alleges that Ohio Attorney General Mike DeWine awarded state debt collection contracts to a friend’s collection agency and companies that donated the most money to his political campaign and the GOP, turning down more experienced vendors in the process. DeWine has denied the claim that those with political […]
The Consumer Financial Protection Bureau announced Monday that it will accept consumer complaints about additional non-bank products such as debt settlement services. The CFPB has been receiving consumer complaints about debt collection since November 2013. It’s not as easy to submit a complaint about a debt settlement service, or any other non-bank service, as it […]
Now that the industry has had the chance to take a deeper dive into the details of the New York Department of Financial Services’ proposed regulations for debt collection by third-party debt collectors and debt buyers, experts and organizations are submitting their feedback on how to further improve the regulations. Specific questions remain about the correct language to use in consumer notices, and how the rules may impact creditors.
The U.S. District Court for the Western District of New York issued a temporary restraining order and asset freeze against a Buffalo, NY-based debt collection operation Monday, after the Federal Trade Commission and New York Attorney General’s Office filed a joint complaint alleging the operation used lies and threats against consumers in violation of federal and state laws.
At first glance, the differences between the U.S. and Israeli debt collection industries couldn’t be more stark: In Israel, lawyers are typically responsible for debt collection, while in the U.S., the debt collection licensing requirements vary from state to state. But TrueAccord, a new start-up founded by Ohad Samet, actually goes over the heads of […]
Kinum, a Salt Lake collection company with a national presence, is celebrating their first year of business. The company, which previously operated as Fidelis Collections for six years, focuses on helping businesses implement better collection procedures while maintaining their client base. Kinum’s President and industry veteran Bruce Klinger states, “We recognized our clients’ two primary […]
International banking regulators issued a new set of principles calling for a “college of supervisors” to oversee the global banking business, according to The New York Times’ Dealbook. The idea, explains University of Pennsylvania professor David Zaring, is to create a team of regulators for globally important banks that would share information fluidly enough to make […]
Historically, collection agencies have viewed compliance as a reactionary, standalone department. Now, there’s an active shift to view compliance as a proactive process that requires full participation and collaboration across all agency branches. Because of this, a collection agency’s compliance management system is not a product. It’s a mindset. What now? As Rozanne Andersen, Chief […]
May 2014 was a light month overall for debt collection complaints, and most types of litigation, according to new data from WebRecon. While 3188 consumers filed CFPB complaints against debt collectors – that’s a little more than 100 consumers a day – it still represents a 15.8 percent decline from April 2014. In all, the CFPB […]
If information is the new world currency, then debt collectors probably want to collect as much information as they do cash from consumers. But the data security sphere comes with its own expansive – and evolving – set of compliance standards, especially when a third-party vendor deals with consumer information. Unfortunately, there are vendors out […]