A collection agency that late last month lost an appeal in the Third Circuit has filed a petition for a rehearing, according to ACA International. The case involved an account number being visible through the clear window of an envelope.
The National Consumer Law Center this week published a report calling for the CFPB to supervise larger collection agencies that focus on medical accounts, effectively changing a conclusion the Bureau had already reached with regard to healthcare debt.
ARMing Heroes, the collection industry’s charity for military veterans, today announced the start of the organization’s fifth annual No Debts for Vets Charity Fundraising Drive, which runs from September 11th through Veterans Day, November 11th, every year.
Salient Business Solutions, the revenue cycle management and business outsourcing consulting arm of the India-based Avantha Group, has announced leadership changes for its fully owned subsidiary Pyramid Healthcare Solutions, a leading provider of revenue cycle management services for the healthcare industry based in Clearwater, Fla.
LAS VEGAS — During the panel discussion on Impacts of Regulations, Greg Nodler, an enforcement attorney for the Consumer Financial Protection Bureau, suggested that those in the debt industry should spend some time making themselves acquainted with three CFPB Bulletins: CFPB Bulletin 2013-08 (Fair Debt Collection Practices Act and the Dodd-Frank Act) Date: July 10, […]
At a collection conference in Las Vegas, regulators shared some insight into how they view out-of-statute debt. They called for fuller disclosures to consumers, both on legal action (agencies can’t take any) and responsibility to pay (the consumer, in an out-of-stat-debt situation, has none). Will the insight make it into the Policies and Procedures of collection agencies, though?
U.S. Representative Maxine Waters (D-Calif.) will propose a bill Wednesday that changes many key provisions of the Fair Credit Reporting Act (FCRA) including a reduction in the time negative information can stay on credit reports and the removal of accounts in collection once paid off.
Organizations sometimes are confused if PCI DSS even applies to them, which is important in this industry as I have not met a collection agency that has not taken a credit card as a form of payment to resolve a debt.
Last fall, Bank of America entered into a $32 million settlement to resolve a TCPA lawsuit over debt collection calls the bank made within its credit card and mortgage units. It has been called the largest TCPA settlement ever. Late last month, the judge in the case drastically lowered the amount of money the plaintiffs’ attorneys will see for their work in the final settlement approval.
As strategic planning is a big focus in the fall for most executives, here are some of our mid-year predictions for the ARM industry.