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Mergers

New Opportunities for ARM in the U.S. Insurance Market

The U.S. insurance market generated more than $2.2 billion in total revenue in 2014. This market is intriguing in the way that bad debt is not as critical to the success of ARM operations because there is such a high volume of billing, coding, claims processing and other non-bad debt collection services. It provides ARM companies diversification in industries served in addition to diversification in the type of collection and other outsourced services.

fined

CFPB Takes Action Against Medical Debt Collector, Largely For Lack of Policies and Procedures

Yesterday, the CFPB announced an enforcement action against a medical debt collection company for mishandling consumer credit reporting disputes and preventing consumers from exercising important debt collection rights. The company is ordered to provide over $5.4 million in relief to harmed consumers, and pay a $500,000 penalty. At the core is a lack of adequate policies and procedures.