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CFPB Regulatory Agenda Marks Final Debt Collection Rule for 2020...And the Clock is Ticking to Avoid CRA Nullification

The Consumer Financial Protection Bureau (CFPB) confirmed in its Fall 2019 Semiannual Regulatory Agenda that it intends to take final action on the Notice of Proposed Rulemaking for debt collection in 2020—though it did not specify when in 2020 it will occur. The most recent edition of the Regulatory Agenda, which is not yet available on the Federal Register, was posted on the CFPB's website.

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Omni-Channel Collections is here! Are you ready?

Omni-Channel Collections is here, are you ready? According to Telrock, an emerging leader in collection platform technology, more than two-thirds of those organizations collecting on consumer credit debt are not ready. Many of the legacy collection software platforms in use today are outmoded and were never designed to fully support omni-channel collections. In this article, learn about what features and functions a collection system must provide in order to properly support omni-channel collections, and how modern collection software are able to help drive overall better collections results through seamlessly integrated multi-channel communications, automated omni-channel orchestration, and frictionless customer engagement across channels.


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You Oughta Know, 25 November 2019

Welcome to You Oughta Know, a collection of links from around the Internet that you should probably know about.

  • Consumer Agency Failed To Protect Student Loan Borrowers, Lawsuit Says. "A nonprofit student loan group is suing the nation's most powerful consumer watchdog agency. The lawsuit, first obtained by NPR, alleges the Consumer Financial Protection Bureau has abandoned its obligation to oversee companies that manage student loans, in particular a troubled loan forgiveness program." (npr)
  • Is it time to overhaul the credit reporting system? "Time and again, millions of Canadians’ personal information has been stolen or leaked in data breaches, and the credit reporting agencies that profit by amassing this sensitive data are no exception. With consumers wondering how much of their information is in the wrong hands — or is simply inaccurate — there are calls to review a system that some say is flawed." (City News)
  • More than half of Americans have avoided medical care due to cost. "HealthPocket released results today of a pulse survey which found that 85% of U.S. adults think that healthcare costs in general are too high. Underscoring that point, 51% of those surveyed have avoided medical care due to lack of ability to pay." (Healthcare News)


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The State of Third-Party Collections 2019: Challenges, Trends and Innovations

5 December 2019 at 02:00 p.m.

Join this webinar for a deep dive into TransUnion's first-ever annual report focusing exclusively on third-party debt collection: The State of Third-Party Collections 2019: Challenges, Trends and Innovations

Event Details »


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