This week the CFPB issued a Compliance Bulletin concerning the Electronic Fund Transfer Act and Regulation E requirements for obtaining a consumer’s authorization for preauthorized electronic fund transfers. The Bulletin also outlines the CFPB’s compliance expectations.
The Federal Trade Commission (FTC) announced last week that, following a public comment period, they have approved final amendments to a Telemarketing Sales Rule (TSR), including a change that will help protect consumers from fraud by prohibiting four discrete types of payment methods favored by con artists and scammers. “Con artists like payments that are […]
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 […]
JACKSONVILLE, FL – Laurie Nelson, PaymentVision’s Chief Compliance Officer and General Counsel, was named a Finalist in the Female Executive of the Year (Business Products) category in the 12th annual Stevie® Awards for Women in Business, and will ultimately be a Gold, Silver, or Bronze Stevie Award winner in the program. The Stevie Awards for […]
Recurring payment arrangements sound simple — deceptively so, as it turns out. The hard part for debt collectors is understanding the unique consent requirements associated with preauthorized electronic funds transfers. John Bedard of the Bedard Law Group takes a in-depth look at EFTA problems facing the debt industry.
Specifically, issues arise regarding the type of consent that a consumer must give to authorize recurring payments from a checking account or debit card. Further, the types of disclosures that must be provided by a debt collector accepting such payments are buried in the regulations. This podcast from John Rossman and Mike Poncin puts the issue into perspective.
The charging of convenience fees has become a huge challenge for the ARM industry. The CFPB and the FTC have repeatedly censured companies and levied fines against the industry for the assessment of these fees using several different statutes. What is your agency doing about convenience fees?
Hawthorne, NY – EFT Network, Inc. is very proud to announce and welcome back Ms. Bonnie Finley as the company’s Chief Sales Officer. In this role, Bonnie will be responsible for leadership in sales management, product development, distribution channel management, marketing communications, pricing, market research, and customer service. In the face of a constantly evolving […]
Atlanta, GA – Cloud based software development company CITC Systems, Inc. are pleased to announce they have secured the final round of funding to complete and bring to market its world class integrated Collections and Recovery platform, Optimus. Built upon a belief that client organizations are increasingly dissatisfied with the lengthy, cost prohibitive, resource intensive […]
Hospital Physician Partners (HPP) is one of the nation’s leading Emergency and Hospital Medicine contract management companies, partnering with hospitals in over 20 states. HPP has over 2,000 providers that will treat more than 2.4 million patients this year. The Company is currently enhancing its patient services by adding CarePayment patient financing programs. With CarePayment, HPP patients can […]