Email notifications to collection agencies from the Consumer Financial Protection Bureau remain a hit-or-miss function of the debt collection complain portal. One the one hand: a recent fix ensured subscribers would receive emails only in the event of a new complaint or new activity on an existing complaint. Before, daily emails from the CFPB arrived […]
As scammers get more and more sophisticated in how they steal money from unwitting consumers, a consequence for the collection industry may be a significant increase in the number of validation requests submitted by consumers.
A federal judge this week decided to allow a potential class action lawsuit against a debt collection agency to move forward that claims violations of the FDCPA due to the presentation and positioning of validation notice language on a collection letter.
A common myth in collections is that debt collection agencies and creditors can’t comply with the TCPA’s often puzzling language for autodialed calls while simultaneously maximizing right-party contacts to grow collections rates.
Contact Center Compliance has been selected as the winner of the Technovation award for innovation in compliance for its cloud based training product at the 2014 PACE Convention & Expo in Hollywood, Florida. “Having a comprehensive safe harbor training program is essential in today’s environment especially with increased TCPA and CFPB scrutiny. Our cloud based […]
In the first quarter of 2014, about 7.5 percent of debt collection complaints filed with the Consumer Financial Protection Bureau were against payday lenders. This past quarter was the first full quarter in which consumers could select payday loans as the debt type leading to the collection complaint.
The primary theme from our conversations with debt buyers over the past month is that inconsistency in the sellers’ response to current challenges is being translated into an inconsistent set of requirements being put upon buyers.
Two data brokers have agreed to settle Federal Trade Commission charges that they violated the Fair Credit Reporting Act (FCRA) by providing reports about consumers to users such as prospective employers and landlords without taking reasonable steps to make sure that they were accurate, or without making sure their users had a permissible reason to have them.
Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, announced that it has earned the designation of Certified Professional Receivables Company (CPRC) after completing the prescribed requirements of DBA International’s rigorous Debt Buyer Certification Program.
Illinois Attorney General Lisa Madigan today filed five lawsuits in a sweep cracking down on unlicensed, online payday lenders and a loan lead generator promoted by talk show host Montel Williams for illegally offering expensive, predatory loans that trap Illinois borrowers in excessive, cyclical debt loads.