CFPB and FTC Amicus Brief Signals Stance on “Pay-to-Pay” Fees Under FDCPA

On February 27, the Consumer Finance Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the 11th Circuit case Glover and Booze v. Ocwen Loan Servicing, LLC arguing that certain convenience fees charged by mortgage servicer debt collectors are prohibited by the Fair Debt Collection Practices Act (FDCPA).  This brief comes on the heels of an amicus brief Alston & Bird LLP filed on behalf of the Mortgage Bankers Association (MBA).  In its brief, the MBA urged the 11th Circuit to uphold the legality of the fees at issue.

Read the Whole Story »

CFPB Encourages New York to Ban Unfair or Abusive Conduct

On March 19, 2024, the Consumer Financial Protection Bureau (“CFPB”) published a blog touting letters it has sent to New York Governor Kathy Hochul, New York State Senate leaders, and New York State Assembly leaders to highlight the importance of a ban on abusive or unfair conduct that is being considered in pending New York legislation.

Read the Whole Story »

Starmark Financial Announces Call Center Expansion

DEERFIELD BEACH, Fla. -- Starmark Financial is excited to announce the expansion of a new 80+ seat call center facility in Trevose, Pa. located just outside of Philadelphia. The new location will feature all new amenities and technology for employees allowing Starmark a greater footprint for its purchasing business and collection partners.

Read the Whole Story »

No Injury, No Standing, No Entry to Florida State Court

On February 26, 2024, a Florida state court, following federal law concepts, ruled under state law that a plaintiff’s alleged statutory violations, with the only “injury” being a fear of future harm, lacked the required standing to stay in state court.

Read the Whole Story »

Longtime Industry Veteran Robert Russo Announces Retirement

MIAMI, Fla. -- Pollack and Rosen has announced Sr. Vice President Robert Russo is retiring from the accounts receivables management industry after 40 years of devoted service.

Read the Whole Story »

Report Shows Credit Reporting Issues Dominate CFPB Consumer Complaints

Consumer reporting dominates complaints to the Consumer Financial Protection Bureau (CFPB), according to a new report.The Congressional Research Service (CRS), a nonpartisan shared staff to congressional committees and Members of Congress, issued a report discussing the CFPB’s consumer complaint process and public database. Their review of the consumer complaints submitted to the CFPB in fiscal year 2023 revealed that the significant majority (over 80%) were related to credit reporting.

Read the Whole Story »

Credit-based triggers should be a core requirement for your business.

Uncertain economic times and a higher volume of delinquencies has made managing your collection portfolio increasingly challenging. Implementing the right tools is critical. In their recent analytics study, Experian explores how Collections Triggers℠ works and how debt collectors effectively leverage them to prioritize accounts and increase recovery rates.  

Download now to learn more. 

Featured Resources and Webinars

from insideARM.com

» How AI-powered Multichannel Outreach Is Transforming the Collections Industry

» Optimizing your recovery strategy with Collections Triggers℠

» Bad Debt is Rising

» Seizing the Opportunity in Uncertain Times: The Collections Industry in 2023

View all Free Reports and Webinars