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Data Security

With identity theft a widespread issue in the financial services industry, banks and ARM companies are under increased pressure to ensure consumers’ sensitive identification, contact, and financial information is kept safe. In fact, a number of recent state and federal laws and regulations codify certain requirements for handling financial data.

Firms in the ARM industry must adhere to a host of standards, including the Payment Card Industry Data Security Standard (PCI DSS), the financial privacy and safeguards rules in the Gramm–Leach–Bliley Act (GLBA), the FTC’s Red Flags Rule for identity theft, information security standard ISO 27002, HIPAA and the HITECH Act for the healthcare sector, and the Federal Information Security Management Act of 2002 (FISMA) for those collecting on government contracts. Auditing standard SAS 70 is also required for many in the financial services industry that use outside vendors such as debt collection agencies.

Data Burglar

Top Five Security Trends for 2016

A new year means new opportunities – but also new updates to compliance requirements and potential security threats. Here are the top 5 security industry trends for the accounts receivables space in 2016: 1) 2015 State Data Breach Notification Requirements Will Continue to Expand In 2015, approximately 32 states thus far have considered security breach notification bills […]


Does the FTC LifeLock Settlement Have Applicability to the ARM Industry?

Last week the FTC announced that they had entered into a $100 Million Settlement with LifeLock to settle charges that it had violated a 2010 Court Order. At first blush one would think that this case has no applicability to the ARM industry. LifeLock isn’t a credit grantor. Lifelock isn’t a debt collector. But, in the words of ESPN’s College Football Analyst, Lee Corso: “Not so fast my friend!” Sometimes all is not what it seems.


Webinar: Trends to Watch for 2016

Wixom, Mich. – “Trends to Watch for 2016”, a Webinar sponsored by RevSpring, will occur on November 12 at 2 p.m. EST. It will explore the major communication technology trends that will impact the credit and receivables industries in the coming year. The Webinar will dig into three key topics: Electronic Signatures IVR to Boost Payments […]

Crossing the Finish Line

BillingTree Completes 2015 Payment Card Industry Data Security Standard 3.0 Audit

Phoenix, Ariz. – BillingTree® today announced it has once again successfully passed the PCI-DSS audit, this year audited under the new PCI 3.0 standards. The new PCI-DSS is designed with an increased focus on operational standards, security and training to provide greater clarity, flexibility and ease of implementation for vendors. The latest announcement is a continuation […]


FTC’s Settlement with Two Debt Portfolio Brokers a Continuation of a Trend in ARM Industry

The FTC Monday announced that it has reached final settlements with two debt portfolio brokers for disclosing too much personal information about debtors in online postings marketing their portfolios for sale. The FTC announced the cases last year, and today’s announcement highlighted new security requirements for the brokers going forward.