There’s an irritating dinner-party-conversation-starter topic about how, because of physics and aerodynamics, bumblebees shouldn’t be able to fly. It’s a ridiculous argument because: (a) bumblebees have been flying just fine since there were bees to bumble; and (b) it’s not like if you told a bumblebee, “Hey, you, with the bumbles: did you know you […]
Two data brokers have agreed to settle Federal Trade Commission charges that they violated the Fair Credit Reporting Act (FCRA) by providing reports about consumers to users such as prospective employers and landlords without taking reasonable steps to make sure that they were accurate, or without making sure their users had a permissible reason to have them.
Knock knock. Who’s there? CFPB. CFPB who? CFPB auditors. May we please see your account records and compliance policies? Once you’ve picked yourself up off the floor from laughing so hard at the punch line, check out our latest homepage poll to let us know where your compliance policies stand. At the most recent insideCompliance […]
2014 has just begun, and U.S. district courts have already seen a 19 percent increase in Fair Credit Reporting Act filings and a 30 percent increase in Telephone Consumer Protection Act filings. At the same time, filings for violations of the Fair Debt Collection Practices Act dropped 26 percent. In January 2014, more FDCPA lawsuits […]
Collection agencies CAN have an influence on consumer credit scores. But that doesn’t mean that they WILL. And that is the crux of our Pop Quiz. Is there a safe way for collectors to counsel consumers about their credit scores?
A newly-proposed Senate bill would restrict data brokers from collecting or soliciting consumer information in deceptive ways. The Data Broker Accountability and Transparency Act, introduced by Sens. Jay Rockefeller (D-W.Va.) and Edward Markey (D-Mass.), would also let consumers access and correct their information, and opt out of having it sold for marketing purposes. “Consumers deserve to know […]
The Federal Trade Commission Thursday announced that check authorization firm TeleCheck Services, Inc. and its affiliated debt collection agency, TRS Recovery Services, Inc., will pay $3.5 million to settle charges that they violated the Fair Credit Reporting Act (FCRA).
U.S. Senator Elizabeth Warren (D-Mass.) today introduced the Equal Employment for All Act which would prohibit employers from requiring potential employees to disclose their credit history as part of the job application process.
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.
December is a contemplative month: we take stock of what we did wrong. We make lists of what we’re going to do right. We drink a LOT of eggnog. Interactive Intelligence will be hosting the perfect webinar for your compliance questions: 2014 Predictions: Compliance Officers Examine the Collections Landscape. Moderated by insideARM.com’s own Mike Bevel, […]