mike-van / pexelsNews in the ARM industry never stops and determining what’s truly relevant can be a challenge. 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 on an interesting FCRA case, strategies to push your operational controls from quantity to quality, and insights to help debunk common digital debt collection myths.
On Tuesday, we published details from Orrick about an FCRA case in which the plaintiff-consumer and defendant-credit reporting agencies disagreed over whether a balance dispute was legal or factual. The consumer prevailed. The line between legal and factual issues isn’t always clear, and in the FCRA context, this appears to be a growing area of litigation. As cases are decided, the line moves. Court decisions such as this one serve as useful reference points to ensure dispute handling procedures meet the current climate.
On Wednesday, we published strategies from Bridgeforce regarding how to ensure your operational controls focus on quality not quantity. As business needs and the regulatory environment change, so too do the operational controls tied to them. Over time, continually adding to the stack of operational controls can create redundancy and inefficiency. This piece provides unique insights to help identify areas for streamlining controls and enhancing performance.
On Thursday, we published insights from TrueAccord debunking three of the most common digital debt collection myths. As the debt collection industry evolves toward a digital model (despite the constraints of the nearly half-century-old FDCPA), misconceptions naturally arise. For those just starting the shift to digital, these insights might help cut through the noise and clarify the path forward. For those who have already moved toward digital strategies, this piece is a good check-in to see if there are any lingering notions holding your organization back.
Have a question about how your company should react to the news above? We have a group for that! The weekly peer roundtable hosted by insideARM’s Research Assistant is the perfect place to engage with industry colleagues facing the same challenges you are. Try it on for size with our 1-month free trial.
