Is it acceptable to allege in court that a reasonably accurate credit record is, in fact, not accurate and therefore in violation of the FCRA? Nope. That’s according to U.S. District Court for the District of New Jersey Judge Renée Marie Bumb, who dismissed what she termed a “frivolous” lawsuit against Experian in the recent, twinned cases Glenn Williams v. Experian and Lorissa Williams v. Experian.
Both the FTC and the CFPB filed comments to the May 6, 2016 FCC Notice of Proposed Rulemaking related to the TCPA. We would have liked to have seen more specific suggestions, especially from the CFPB, which has been studying the topic for years now.
Last year, the TCPA statute was amended allowing an exemption for calls made to collect a debt owed to the United States. The amendment also directed the FCC to develop rules that “may restrict or limit the number and duration of calls made to a number assigned to a cellular phone service.” …But there are two possible interpretations of “duration of calls.”
Last week, ConServe, a leading private collection agency and federal contractor that provides services to the U.S. Department of Education and the U.S. Department of Treasury, filed comments to the FCC Notice of Proposed Rulemaking TCPA. The comments were thorough and well-reasoned. Unfortunately, the deck at the FCC is likely stacked against collectors.
Last week Congressman Matt Salmon (R-AZ) introduced H.R. 5413, The CFPB Data Accountability Act, to amend the way complaints are handled at the CFPB. This would be positive for the ARM industry. Unfortunately, Salmon is set to leave politics at the end of the year.
Yesterday’s announcement that Ontario Systems (Ontario) had acquired Columbia Ultimate Business Systems (CUBS) was big news in the ARM industry. These two companies been competitors for years. Both have very mature products that are installed and used at major “players” in our space. Both companies have a large number of third party agency clients. However, what is interesting is that both companies had also expanded into adjacent vertical markets. insideARM contacted Ontario management to ask for further insight into the transaction and for comment on questions we believe the industry is asking.
Ontario Systems announced today that it has acquired Columbia Ultimate Business Systems (CUBS™) of Vancouver, Wash. Joining together two ARM market software and services experts, the acquisition will benefit both organizations’ customers through expanded product offerings and access to an even broader set of compliance consulting services.
Eighteen months after the filing of a putative FDCPA class action that arose out of a $131 balance on a Verizon account a New York Federal Judge has granted summary judgment in favor of the defendants and dismissed the lawsuit. According to the Judge – again – this is a clear case of entrapment.
The second annual First Party Summit will take place October 17-19, 2016, at the Eaglewood Resort & Spa just outside Chicago. Last year the inaugural event sold out. Preview the agenda now, and sign up so you don’t miss the opportunity.
House Financial Services Committee Chair Jeb Hensarling (R-Texas) unveiled the outline of a massive new Republican plan this week to overhaul or strip away nearly every aspect of the Dodd-Frank financial reform. The new plan, called the Financial CHOICE Act, would result in big changes to the Dodd-Frank, including a repeal of the Volcker Rule, the creation of new capital and liquidity standards for banks and, most relevant to the collections industry, a thorough strip-down and rebuild of the CFPB.