In DBA International’s pursuit of continuous improvement, we are proud to announce the adoption of version 3.1 of the Receivables Management Certification Program. The Certification Program offers two distinct certification designations – the “Certified Professional Receivables Company” (CPRC) for companies and the “Certified Receivables Compliance Professional” (CRCP) for individuals. The uniform industry best practices for […]
The FTC wrapped up its three city Debt Dialogue tour in Atlanta, Georgia yesterday afternoon with very animated “dialogues” among regulators and representatives of the credit and collections industry. The wide-ranging discussion covered communication between collectors and consumers, industry self-regulation, collection complaints, and more.
A recent Illinois bill provides a welcome fix to the Illinois Collection Agency Act (ICAA). The legislation, SB 1369, corrects amendments made to the ICAA this past August. Those amendments potentially expanded sections of the ICAA to commercial debt and would require disclosures contrary to (and possibly in violation of) the federal Fair Debt Collection Practices Act. The […]
Court documents were filed yesterday, preliminarily approving the class action settlements in Monique Sykes, et al., vs. Mel S. Harris and Associates, LLC, et al. A Fairness Hearing has been scheduled for May 11, 2016, in the U.S. District Court for the Southern District of New York. The case is a class-action lawsuit originally certified […]
Last Friday, Encore Capital Group (ECPG), an international specialty finance company with operations in eight countries, reported its financial results for the third quarter of 2015, ending September 30, 2015. Third Quarter Highlights Gross collections from the portfolio purchasing and recovery business grew 4% to $422 million, compared to $407 million in the same period of […]
As with all publicly traded companies, the earnings announcement is usually less interesting, and often less informative, than the conference call that accompanies the quarterly announcement. This was especially true as it relates to the latest PRAA earnings call.
Debt Management Partners (DMP) would like to introduce Darlene Hirsch as the Chief Compliance Officer. In her new role, Darlene will be responsible for developing new communications channels and strategies designed to facilitate communications between consumers, vendors and clients in a compliant and effective manner. Drawing from her past experience with the Better Business Bureau, Darlene […]
JP Morgan Chase, the nation’s biggest bank, will pay $100 million to settle allegations that it used illegal and abusive debt-collection practices in connection with California credit card customers. The settlement specifically collecting incorrect amounts, selling bad credit card debt, and running a debt collection mill that involved illegally “robo-signing” thousands of court documents and improperly obtaining default judgments against military service members.
In February 2013, DBA International launched its Receivables Management Certification Program. This “gold standard” certification program promotes uniform, consumer-oriented, best practice standards for the receivables industry. The goal of the Receivables Management Certification Program is to raise the bar; not just meet the bar. Since program standards exceed many current statutory and regulatory requirements for […]
The recent CFPB consent orders have potentially sweeping implications for the receivables management industry. At DBA International’s California Symposium, attendees from across the industry are invited to hear from representatives of PRA and Encore about the resulting best practices and new standards that will need to be implemented around the accuracy and enforceability of debt, […]