Consumers Archives - Page 2 of 13

August 21, 2024 by Chris Willis in CFPB

White House Announces New Initiatives Targeting Consumer Experience

This week, the Biden-Harris Administration launched a comprehensive initiative aimed at addressing what it describes as everyday hassles that waste Americans’ time and money. This new government-wide effort, called “Time Is Money,”...

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August 1, 2024 by Cali Thompson in Collection Strategy

Understanding the Consumer Spending Split and How to Recover More Across the Divide

It’s becoming a familiar headline: US household debt keeps climbing and delinquency rates keep rising. According to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and...

July 29, 2024 by Missy Meggison in CFPB

insideARM Weekly Recap – Week of July 22nd, 2024

We know that ARM industry professionals are pressed for time. This is why the editorial team at insideARM sifts through all the news and highlights only the most important stories...

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July 2, 2024 by Cali Thompson in Collection Strategy

The Roller Coaster of Consumer Spending, the Whiplash of Consumer Sentiment, and How to Effectively Engage for Collections

At the end of 2023, economists were hoping for a “boring” 2024—just a relatively uneventful year thanks to a soft landing with downward trends for inflation, unemployment, and interest rates. But...

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June 11, 2024 by Kristen Larson in CFPB

CFPB Issues UDAAP Guidance On Contracts for Consumer Financial Products and Services

On June 4, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a Consumer Financial Protection Circular 2024-03 (“Circular”) warning that the use of unlawful or unenforceable terms and conditions in...

June 3, 2024 by Bryce Noel in Collection Laws and Regulations

insideARM Weekly Recap – Week of May 27th, 2024

A short week was still not short on news affecting debt collection! In our efforts to bring you the information you need to see, we found the most important pieces...

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May 30, 2024 by Bryce Noel in Compliance

Opting Out of Letters? Not So Fast Says Texas Court

Consumers cannot opt out of receiving mail through the United States Postal Service; at least according to a Judge in the Eastern District of Texas. Per the court, a preference...

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April 24, 2024 by Stefanie H Jackman in CFPB

CFPB Updates Risk-Based Nonbank Supervision Designation Process

On April 16, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a procedural rule streamlining the designation proceedings for nonbank supervision based on a particular entity posing “risks...

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April 18, 2024 by Loran Kilson in Auto Finance Receivables

CFPB Publishes Consumer Response Annual Report

The CFPB published its Consumer Response Annual Report for 2023, which discusses the consumer complaints received by the CFPB in that year and how companies responded to those complaints. The...

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April 17, 2024 by Eric Rosenkoetter in Consumers

Kentucky Becomes 15th State to Enact a Comprehensive Consumer Data Privacy Law

Kentucky Gov. Andy Beshear on April 4 signed into law House Bill 15, the Kentucky Consumer Data Protection Act, making Kentucky the 15th state to enact a comprehensive consumer data...

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