There’s never a dull moment in the ARM industry, but it can be tough to distinguish between what’s news and what’s noise. That’s where insideARM’s weekly recap comes in. Our weekly recap of top stories will give you the news we found most interesting last week and more importantly- why we think it’s relevant. Last week we brought you details regarding charge-off and delinquency rates, info on the CFPB’s voluntarily dismissal of five enforcement actions, and insights on the Arizona trust account rules for those who collect in that state.
On Tuesday we published an article from ProVest that gave us numbers from Q4 2024 regarding charge-off and delinquency rates for credit cards. Insights like these are the keys to understanding the future and what’s coming in the next 9-12 months.
On Wednesday, we brought you a rundown from Orrick of the five enforcement action cases the CFPB dismissed in February. This quick hitter shed light on the allegations the CFPB is abandoning. We should all be paying attention because these dismissals might signal what the new CFPB thinks is important and what it does not. The CFPB is making news every day, and it can be difficult to stay on top of it all. Quick hitting roundups like this one are a key to staying informed.
On Thursday we brought you insights from Sessions, Israel, and Shartle regarding how Arizona licensed debt collectors handle their client trust accounts. The issue has come up in audits and not failing to follow the nuanced Arizona law can result in monetary penalties. This article includes specific guidance from the Arizona Department of Financial Services, which is useful to ensure your process and procedures are up to date. It can be easy to get caught up in big headline news, but in our world it’s important to refresh ourselves on the day-to-day things that go into running a successful operation.
Have a question about how your company should react to the news above? We have a group for that! The weekly peer call hosted by insideARM’s Research Assistant is the perfect place to ask a question and get advice from industry colleagues who are facing the same challenges you are. Not sure if it is for you? Try it on for size with our 1-month free trial. Click here to learn more!
