Employee engagement is widely recognized as essential to high performance cultures. In fact, research from Gallup reports that companies with highly engaged workforces outperform their peers by 147% in earnings per share and enjoy 25-65% less turnover and 37% less absenteeism, among a variety of other benefits. But a recent article by Josh Bersin, drawing […]
Bulletins from the CFPB often function as rule-making, even though bulletins aren’t technically the way the CFPB conducts rule-making. Both bulletins and consent orders, though, should be viewed by all in the industry as the “writing on the wall,” so to speak. They show the agency’s current line of thinking, and give those companies in the debt industry a map of compliance.
The CFPB has been highly emphatic in requiring both the financial services and the debt collection industry to increase compliance by establishing and maintaining systems and procedures to ensure consumer data privacy in all transactions. All of which have utilized “automated” systems that have proven to be effective and efficient in the credit ecosystem. Millions have been spent by the industry to meet these demands in the past 5-7 years. The National Creditors Bar Association (NARCA) members report a 300%+ increase in compliance costs from 2011-2014.
By now you should have your compliance team in place, your policies and procedures finalized, and your complaint management system humming. But if your organization is a typical collection agency, debt buyer, or collection law firm, you know you have one final hurdle to overcome on your CFPB readiness path: Vendor and service provider management. A new whitepaper […]
I’m sure you’ve heard the expression “work smarter, not harder.” In today’s environment you need to do both to grow your business. Utilizing skip trace technology is a business-growth engine because it takes care of “easy” day-to-day activities like phone number identification and change of address, while at the same time working harder to solve […]
LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it will join operations experts from IHMS, in partnership with the Healthcare Financial Management Association (HFMA), to provide insights into the top insurance enrollment challenges moving into 2016 and innovative approaches to adapting existing resource to optimize patient engagement and […]
Bethesda, MD — Quantrax Corp. would like to introduce Mark Namba as the Director of Business Development and Strategic Analytics. As the Collection Industry looks for the right technology to carry it into the next era, “Quantrax is well positioned to be the software of choice for the future, and the addition of Mark Namba […]
Houston, TX – Alpha IT Services proudly announces its new system for accounts receivable management. The new application, aptly called “MARS” – for “Manage Accounts Receivable System” – is a complete solution that is capable of not only managing accounts, but also putting controls into place for tracking, reporting and reconciling all aspects of the […]
Castle Rock, CO – United Debt Holding is proud to announce they have selected the ComplyARM Dashboard platform to enhance their compliance management system requirements. As part of United Debt Holding’s compliance initiatives the company has decided to leverage the powerful technology behind ComplyARM Dashboard to help improve the flow of compliance related communications and […]
As recently as NARCA’s fall conference in Washington, D.C., the question of is or isn’t something a dialer still comes up in panel Q&As. Dialers, and the one-strike rule, probably cause the most confusion, currently, in the industry in the wake of a declaratory ruling that was intended to explain it all to us. We reached out to several industry attorneys with a dialer question that came up in one of our webinars, and we’ve provided their answers below.