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Debt Collection

Debt collection refers to the work done to recover balances from credit accounts that are past due. Most commonly, debt collection specifically references third party debt collectors whose clients include banks, credit card issuers and other credit grantors, debt buyers, governments, and any organization that extends credit or owns an account where a balance is due. Collection methods traditionally include phone calls from call center agents, e-mails, and letters, and increasingly, SMS text. If an account remains in arrears after these efforts, the collection agency may contract with a collection attorney to file suit to recover the debt, if the collection agency is not positioned to do so.

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insideARM Perspective on CFPB Proposed Debt Collection Rules – Communication Part 1

Earlier today we reported that the CFPB has taken the long-awaited next step in debt collection rulemaking activity by releasing an Outline of Proposed Rules in advance of the required Small Business Regulatory Enforcement Fairness Act (SBREFA) consultation process. The formal SBREFA hearing is scheduled for the week of August 22. The Outline of the CFPB’s […]

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CFPB Outlines Debt Collection Rulemaking Proposals

The Consumer Financial Protection Bureau (CFPB) has released its long-awaited Outline of Proposed Rules governing third-party debt collectors. The proposal, released in advance of today’s 2:00 PM EDT CFPB Debt Collection Field Hearing in McClellan Park, California, is 117 pages and covers a wide range of topics that had been raised nearly three years ago […]

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Did the FCC Even Consider the Thousands of Responses to its Rulemaking Proposal?

Last Friday, Tom Wheeler, Chairman of The Federal Communications Commission (FCC) published a blog entitled “Cutting off Robocalls.” The portion of the piece that has received the most media attention was this: “In regard to the Commission’s expectations that carriers respond to consumers’ blocking requests, I have sent letters to the CEOs of major wireless and […]

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FBCS Completes Renewal of SSAE-16, PCI-DSS, and ISO 27001-27002 Certifications

HATBORO, Pa. – FBCS, Inc., a leading nationally licensed collection agency has joined a distinguished group of companies to receive the industry’s most widely recognized security certifications. During the most recent technology and security audits, FBCS earned their PCI-DSS certification as well as their SSAE16 and ISO 27001 & 27002. These prestigious certifications are the globally […]

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Rozanne Andersen to Present Findings from Cost of Compliance Survey at PowerUp 2016

Year-long study examines top factors that lower consumer litigation, damages, defense costs and complaints. MUNCIE, Ind. – Ontario Systems, a leading accounts receivable management (ARM) and healthcare revenue cycle management (RCM) technology and services provider, has announced its Chief Compliance Officer, former ACA General Counsel and CEO, and practicing attorney Rozanne Andersen, will present results […]

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FTC Action: Abusive Debt Collectors Banned from Collection Business

Two debt collectors and three companies charged with using false threats and other illegal collection tactics are banned from the debt collection business under a settlement with the Federal Trade Commission, which charged them as part of Operation Collection Protection, an ongoing federal-state-local crackdown on collectors that use deceptive and abusive collection practices. In October 2015, […]