Essential headlines, new reports, and best practices from insideARM.com. Got this from a friend?
Subscribe to the ARM Insider
insideARM ARM Insider

BREAKING: 11th Circuit Vacates Hunstein; Full Panel will Rehear Case

Just before noon today, the Eleventh Circuit Court of appeals issued an order vacating its opinion in Hunstein vs. Preferred Collection & Management Services, Inc, 994 F.3d 1341 (11th Cir. 2021), which means Hunstein is no longer good law.

Read the Whole Story »


Lost Accounts Can Lead to Significant Recovery Opportunities

In the back corners of creditor collection systems are categories of accounts that are unpaid but alas, do not receive any further collection effort. Consumers have invoked their rights to request “no further contact” or directed the creditor to “communicate only with my designated representative.”  Harvest Strategy Group has extensive experience with these types of accounts and can create a litigation recovery program to effectively handle them in a compliant manner. Larger creditors can add thousands of charged-off accounts to these categories monthly, creating significant recovery opportunities if handled correctly. Meet us here.
ADVERTISEMENT
Advertisement

insideARM is grateful to our 2021 Strategic Supporters:

NCB MRS Crown Asset Management Spring Oaks Capital TransUnion

TCN Launches Online Regulation F Guide for Collection Agencies to Maintain Compliance in Their Communication Practices

ST. GEORGE, UT -- TCN, Inc., a global provider of a comprehensive cloud-based call center platform for enterprises, contact centers, BPOs, and collection agencies, today announced the launch of "A Comprehensive Guide to Regulation F and How It Impacts Debt Collection," an online guide that details the new rules announced by the Consumer Financial Protection Bureau (CFPB) in its interpretation of the Fair Debt Collections Practices Act (FDCPA), which takes effect on Nov. 30, 2021.

Read the Whole Story »


A Digital Transformation Means Thinking Differently

We’re witnessing a digital shift in the ARM industry. So, how might you need to staff differently to make sure you can keep up? Jim Beck, COO of MRS BPO, discusses that with Erin Kerr, plus:

Read the Whole Story »


ADVERTISEMENT
Advertisement

15 Days Until Reg F is Here! 3 Things You Can Do to Prepare for the Reg F Effective Date NOW

Regulation F (Reg F) is the most significant change to the ARM industry in over 40 years and the Reg F effective date is coming up in just 15 days. In addition to the regulatory issues created by Reg F, you can also expect that consumer attorneys will file a landslide of lawsuits to test Reg F’s limits.

Read the Whole Story »


CA DFPI Issues Fourth Modifications to Proposed Regulations to Implement 2018 Law Requiring Consumer-Like Disclosures for Commercial Financing

The California Department of Financial Protection and Innovation has published a fourth round of modifications to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.  The law contains exemptions and carve-outs for, among other things, depository institutions, financings of more than $500,000, closed-end loans with a principal amount of less than $5,000, and transactions secured by real property.  Compliance with the new disclosure requirements is not required until the DFPI’s final regulations become effective.

Read the Whole Story »


Collections Industry Increases Hiring and Technology Investments While Preparing for the “Next Normal”

CHICAGO, Ill. --  A new report by TransUnion (NYSE: TRU) and Aite-Novarica Group found that the collections industry is boosting hiring and technology investments as it transitions into a “next normal” stage. Approximately seven in 10 collections professionals (69%) said technology solution spending will modestly or significantly increase in the next two years. About two-thirds of collections professionals (67%) said employee compensation will increase in the same time period.

Read the Whole Story »


ADVERTISEMENT
Advertisement

Beyond Compliance: Outreach Strategies & Intelligent Contact Data For a Reg F World

2 December 2021 at 02:00 p.m.

The Consumer Financial Protection Bureau’s new Regulation F is set to transform traditional collections practices. Now more than ever, every call and email must count.

Unique behavioral intelligence on phones and emails enables organizations to optimize outreach attempts, maintain RPC rates, and meet CFPB regulations. Learn how MRS has partnered with Neustar to harness the power of behavioral data to increase reach and maximize efficiency using the best phone/email and the best time-of-day to contact each consumer, to increase effectiveness while adhering to Reg F guidelines.

Event Details »