JP Morgan Chase’s annual 10-K report to the SEC reveals some critical details about the mega-bank’s debt collection practices. In 2013, JP Morgan Chase recovered $593 million of charged-off credit card debts, continuing a three-year trend of anemic debt recovery. In 2010, the country’s biggest bank recovered $1.37 billion from unpaid credit card bills it had […]
One of the hot topics for the collection industry today is the new found awareness of the requirements the Electronic Funds Transfer Act and Reg E impose on one’s ability to accept and process single and recurring Automated Clearing House Network (ACH) payments or Telephone-Initiated Entries (TEL Entries).
So what exactly is the problem? This latest blog from Ontario System’s Rozanne Andersen walks you through it.
When Patrick asked me if I wanted to cover a story about debt collectors, Australia, and a sex tape I said, “Don’t even pay me for this one. The story is its own reward.” First thing: the whole saga is like a porn version of The Soprano, only with out the self-congratulatory patina that show […]
Hiring talented collectors: is it entirely luck? Or are there things hiring managers and CEOs can keep in mind to tip the scales in their favor? It’s a trick question: Of course there’s a science to this. And insideARM.com’s new webinar series, insideOperations, is taking a deep dive into how to hire the top talent […]
December is a contemplative month: we take stock of what we did wrong. We make lists of what we’re going to do right. We drink a LOT of eggnog. Interactive Intelligence will be hosting the perfect webinar for your compliance questions: 2014 Predictions: Compliance Officers Examine the Collections Landscape. Moderated by insideARM.com’s own Mike Bevel, […]
What makes TCPA suits against collection agencies the Golden Geese that they are is: they’re a per-instance ding. Alternatively, under the FDCPA, plaintiffs may recover actual damages, attorney’s fees, costs, and statutory damages up to $1,000. While the first three are either market-flexible or regularly updated, the statutory damage cap has not changed since the […]
REGISTER HERE: https://www1.gotomeeting.com/register/475088192 I hope there’s room left on your Get This Done for the CFPB list (you keep one of those, right? Taped to your medicine cabinet mirror so you start the day off right?) because dispute resolution appears to be a key requirement now for both large and small market participants. And, as seems […]
How’s your fall going? If your agency is keeping pace with what the industry has been going through, it’s shaping up to be a busy season. There were some huge stories that will probably have long-lasting impact on the industry. For starters, the FTC announced it’s first-ever action against a debt collector for text-message use. And […]
To confidently navigate TCPA auto dialing restrictions without sacrificing operational efficiency, organizations must rely on current and authoritative phone data insights — that’s the thesis of a recently published whitepaper by Neustar: The Neustar Guide to TCPA Risk Mitigation. Much like its cousin, the FDCPA, TCPA compliance can be a shifting goal for agencies, with what may […]
In a new whitepaper, published by Ontario Systems, Rozanne Andersen, Ontario Systems’ Vice President of Business Development and Chief Compliance Officer, walks readers through five tips that can help end the credit reporting nightmare for collection agencies. (There is also an accompanying webinar, scheduled for Thursday, 31 October 2013, from 2.00 p.m. – 3.14 p.m. […]