insideARM Weekly Recap- Week of March 25, 2024

There is never a shortage of news in the world of debt collection. At insideARM, we try to help you stay on top of the most crucial news by bringing you one piece of relevant news each day. We publish articles covering topics our editorial team thinks are the most important for ARM industry professionals to stay compliant while increasing revenue. That said, even with a streamlined news source, it can be difficult for even the most organized person to stay on top of what is going on in an industry that is changing rapidly. So, starting today and continuing weekly on Mondays, we are going to bring you the insideARM Weekly Recap, a synopsis of everything we highlighted during the week and why our editorial team thinks you should know about it. 

Last week, we brought you news on CFPB complaints, a win on FDCPA standing in state court, a state push for further regulation on “abusive conduct,” and we learned the CFPB and FTC’s stance on “Pay-to-Pay” Fees. 

On Monday, we highlighted an article from Troutman Pepper about how credit reporting issues make up the vast majority (over 80%) of CFPB complaints from consumers. We also learned that the three main issues within the credit reporting complaints were: incorrect information, improper use of credit reports, and investigation of complaints. Credit reporting will likely continue to be a hot-button issue throughout 2024.