CFPB Director Richard Cordray today will call on credit reporting agencies to take a more active role in policing the companies that furnish data on consumers, including a mandate to report consumer disputes made against specific companies. The new requirements stem from a CFPB study on debt collection tradelines in credit reporting.
The Consumer Financial Protection Bureau (CFPB) is holding a field hearing on Thursday, December 11 in Oklahoma City to discuss medical debt collection.
Making patients aware of their financial obligations is one of the biggest challenges to healthcare providers, requiring specialized resources. Where are those resources to be found?
Student Lending revenues declined 35.3% during the third quarter to $28.1 million, from $43.4 million in the prior year period.
Expert Global Solutions (EGS), parent company of ARM giant NCO Group, announced Monday the closing of a deal that saw it sell Transworld Systems and many other debt collection units to a private equity firm. The transaction was initially announced in July.
Thanks to the Patient Protection and Affordable Care Act, the self-pay population is shrinking. But the financial challenges of that population continue to grow and now are spreading to other formerly stable patient populations, namely those with employer insurance.
The Eleventh Circuit Court of Appeals yesterday unanimously reversed a lower court ruling in Mais v. Gulf Coast Collection Bureau, a case that was extremely controversial in the debt collection industry due to the district judge deliberately ignoring an FCC ruling regarding consent to call a cell phone. Monday’s decision and opinion is seen as a major victory for debt collectors.
The National Consumer Law Center this week published a report calling for the CFPB to supervise larger collection agencies that focus on medical accounts, effectively changing a conclusion the Bureau had already reached with regard to healthcare debt.
Salient Business Solutions, the revenue cycle management and business outsourcing consulting arm of the India-based Avantha Group, has announced leadership changes for its fully owned subsidiary Pyramid Healthcare Solutions, a leading provider of revenue cycle management services for the healthcare industry based in Clearwater, Fla.
U.S. Representative Maxine Waters (D-Calif.) will propose a bill Wednesday that changes many key provisions of the Fair Credit Reporting Act (FCRA) including a reduction in the time negative information can stay on credit reports and the removal of accounts in collection once paid off.