CHICAGO, Illinois — The Telephone Consumer Protection Act played to packed audiences through two sessions at ACA International’s 75th Anniversary Convention & Expo. At issues for those in the debt industry are: Effective Consent Language Present Capacity “We have to find a way to make [consent] compelling to creditors,” David Kaminski, one of the presenters […]
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 […]
I’ve spoken with quite a few compliance professionals recently. I can truly say that I am overwhelmed for you. The challenges and responsibilities facing compliance officers at all levels today are significant. Yet I get the sense that each of one you is reinventing the same wheel at the same time.
Last week, in Haddad v. Alexander, Zelmanski, Danner & Fioritto, PLLC, the Sixth Circuit expanded the requirement for how a debt collector must respond to a debtor’s request for verification of a debt under the Fair Debt Collection Practices Act, creating the most consumer-friendly verification standard ever.
Gordon Beck, Chief Operating Officer of Diversified Consultants, Inc., based in Jacksonville, Florida, sat for an interview last week with ABC World News with Diane Sawyer. Beck said ABC set out to investigate TCPA lawsuits where companies – including collection agencies – dialed wrong numbers. ABC producers told Beck that he was the only collection agency official that agreed to be interviewed.
The vast majority of collection opportunities within the student loan marketplace have been with state and federal government clients, private guarantors (like Sallie Mae), and private lenders (like large financial institutions). So, what’s available today? That’s the topic of a webinar scheduled for Tuesday, 29 July 2014, at 2.00 p.m. Eastern, sponsored by FICO. REGISTER […]
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.
DialConnection, LLC, a rapidly growing provider of cloud-based software-as-a-service (“SaaS”) and premise-based contact center solutions for enterprise clients, today announced an investment in the company by Potomac Equity Partners, LLC, a Washington, D.C.-based investment firm whose principals have extensive experience investing in the software and technology sectors. DialConnection provides a suite of integrated contact center […]
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.
Larger participants in the debt industry need to prepare for CFPB supervision, and an essential part of that preparation will be to establish a formal compliance management system.