The CFPB showed its support for the Consumer Federation of America (CFA) at last week’s CFA’s 2013 Financial Services Conference entitled, “The Consumer in the Financial Services Revolution.” CFPB Director Richard Cordray delivered the keynote address and CFPB staff was strongly represented on a number of the panel discussions, including Tom Pahl who rejected the notion of a “crisis” in debt collection.
The entire credit and collection world will more than likely be turned upside down starting in 2014. If you’re a creditor in any industry from banking to healthcare, pay close attention. New rules on how you do business are coming your way, and soon.
The investment firms that own Norway-based debt collection firm Lindorff have hired prominent banks to run the company’s listing on a stock exchange.
The trade associations representing the debt collection industry are working on the possibility of creating a unified response to the Consumer Financial Protection Bureau’s (CFPB) proposal to adopt new rules for the ARM industry.
John Schanck, Chairman for Stellar Recovery Inc today announced that the company has earned the designation of Certified Professional Receivables Company (CFRC) after completing the prescribed educational requirements of DBA International’s Debt Buyer certification program.
The Federal Reserve Board Thursday released guidance reminding financial institutions it supervises to exercise appropriate risk management and oversight when using external service providers. The Fed becomes the latest agency to point out that banks can be held responsible for actions taken by vendors, including ARM firms.
Fast growing Lowell Group, headquartered in Leeds and one of the UK’s largest debt purchasing and contingent collections groups, has appointed Mathew Stonley (Mat) as business development manager for its debt purchase business.
As the ARM industry prepares for 2014, it might help in strategic planning to know which types of debt are attracting the most consumer complaints about debt collection.
There are two constants in the accounts receivable management industry. The first is change. The second is International Collectors Group.
The first step to solving any problem is admitting you have one. This week, we reported that the Consumer Financial Protection Bureau released a report that finally recognized that small financial institutions may pay relatively more on compliance than large market players. But large and small firms are still on the hook to comply with [...]