George Mason University Foundation Professor of Law and Senior Scholar of the Mercatus Center Todd J. Zywicki has published a Working Paper entitled “The Law and Economics of Consumer Debt Collection and Its Regulation.” The 69-page paper concludes that new government restrictions on debt collection may very well burden consumers. Zywicki starts with the premise […]
The FTC held its second of three debt collection dialogues in Dallas, Texas yesterday. Kelly Knepper Stephens, General Counsel & Chief Compliance Officer at Stoneleigh Recovery Associates, was at the session and offers her take-aways as a member of the industry. Top of the list? Don’t wait for CFPB rulemaking; review your practices now.
SACRAMENTO, Calif. – A new study conducted by Professor Todd Zywicki of the Mercatus Center at George Mason University indicated that careful evaluation of the current regulatory environment was necessary to ensure that the debt collection and debt buying industries continued to fulfill their critical role in the economy. The study also found as the […]
CBE Companies announced today that Michael L. Frost, CBE Companies Chief Compliance, Sales Officer and General Counsel, will serve on a panel discussing credit and collection issues. The event, The Federal Trade Commission’s second of three planned Debt Collection Dialogues, will be held tomorrow in Dallas, Texas, and will include members of the debt collection community in addition […]
Encore Capital Group announced today that it is entering into an agreement to buy 50.25 percent of Baycorp, a leading debt resolution specialist in Australia and New Zealand. The current owners, Oceania Capital Partners and SAS Trustee Corporation, have reduced their ownership levels but will remain as shareholders and directors of the company. As the […]
We’ve all heard of car insurance, home insurance, renter’s insurance, health and dental insurance, business insurance, malpractice insurance and yes, even pet insurance! But how about data insurance? Our customers have stated that 15-20 percent of a collection agency’s bottom-line goes toward the cost of compliance. Here’s something new to think about: If you currently […]
Debt industry compliance professionals in both the Columbus, Ohio, region; and the Atlanta, Georgia, region, met this past week in regional discussion groups to talk, as peers, about issues each person is facing in an industry defined more by flux than by clarity. These meetings, hosted by The Compliance Professionals Forum, (and made possible by the […]
We have all had conversations with current or potential clients about our approach to pre-employment screenings; particularly criminal background checks. Clients will often want to prescribe how a background check should be used to disqualify candidates for employment with rigidity and vigor. Many try contractually to obligate their BPO firms to prohibit candidates who have been convicted of felonies, others will only allow hiring of candidates with prior felony convictions after a certain period of time. The days of disqualifying candidates on a wholesale basis based solely on their criminal background are quickly becoming obsolete. Employers bear increasing levels of responsibility and risk when it comes to how they use the information gathered on a pre-employment background screening.
In an effort to find solutions to the dilemmas posed by the latest FCC-TCPA ruling, DAKCS Software Systems polled its customers about the use of dialing and messaging technology and the FCC decision. Based on the data gathered, DAKCS highlighted four ways to help mitigate the risks of using dialing and messaging technology, in addition […]
A U.S. Government Accountability Office (GAO) report released on Septmember 10, 2015 found that the Internal Revenue Service (IRS) lacks written documentation of its collection program objectives and methodology. The GAO study concluded that these deficiencies make it difficult to assess the program’s effectiveness.