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State Attorney General Calls on CFPB to Heed Fifth Circuit’s Ruling in Community Financial Services Association of America

In response to the Fifth Circuit’s ruling in Community Financial Services Association of America, Ltd. v. Consumer Financial Protection Bureau (CFSA) that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism is unconstitutional, West Virginia Attorney General Patrick Morrisey sent a letter on October 24th to the CFPB, calling its continued operations into question and foreshadowing potential state challenges to its actions. While some state AGs and financial regulators are likely to help offset any reduction in CFPB activity through their own investigations and coordination with the CFPB, the dark cloud of the CFSA opinion hangs over the agency.

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Case Study: How Credit Service Company Used Business Intelligence to Increase Revenue without Increasing Effort 

Credit Service Company needed to find a new, more efficient strategy without hiring in new resources or risking recovery rates. In this new 5-minute video case study from Intelitech Group, find out how Credit Service Company was able to reduce effort, uphold compliance, and increase revenue by incorporating collection analytics and improved account scoring into their workflow. 


See it here.
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Compliance From the Top Down: An Interview with TCN

The last two years have affected a lot of change in the call center industry. Working from home has been normalized, consumers are demanding more flexible contact methods, and tax-time hasn’t been the dependable boon it’s been in the past.

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National Creditors Bar Association, President Steve Markoff, Swear in New Board at Tampa Conference

SARASOTA, Fla. -- The National Creditors Bar Association (NCBA) held its annual Fall Conference in Tampa, FL October 26-28th with more than 800 attendees.  Steve Markoff of Markoff Law LLC, Chicago, IL, continues his term as President of NCBA and swore in new officers to its Board of Directors including President-Elect Barbara Nilsen of Blitt & Gaines, P.C., Vernon Hills, IL, who will become President next October, 2023.  The full list of NCBA Board members can be found on the NCBA website.

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CFPB Responds to Fifth Circuit Ruling that its Funding Mechanism is Unconstitutional

The CFPB has told two courts, an Illinois federal district court and the Ninth Circuit, that the Fifth Circuit panel decision holding that the Bureau’s funding mechanism is unconstitutional is “neither controlling nor correct” and “mistaken.”

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Whitney Carpenter Announced as Vice President of Operations at Absolute Resolutions Corp.

BLOOMINGTON, Minn. -- Absolute Resolutions Corp. (“ARC”), headquartered in Bloomington, MN, announced today that Whitney Carpenter has been promoted to the role of Vice President of Operations.

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Defeating Credit Repair Organizations - Recent Win in FL Case Highlights Successful Strategies

In a clear rebuke of a credit repair organization’s tactics, a judge in the Middle District of Florida said the Fair Debt Collection Practices Act (“FDCPA”) cannot be weaponized against a debt collector for declining to participate in a scam. The “scam” in this case was a letter sent to the debt collector by the credit repair organization, Credit Repair Lawyers of America (CRLA).

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Complete Guide to Risk and Gap Assessments - Part 5: Maintain Your Progress - Don’t Skip the Audit

29 November 2022 at 02:00 p.m.

Concluding a risk and gap assessment is something to celebrate. They are a lot of work. Full stop. However, if you don’t set up a proper auditing plan, you’ll need to perform another risk and gap assessment sooner rather than later. A robust auditing procedure that includes remediation plans and keeping your C-suite informed will allow you to build off your recent analysis, so you won’t have to do another one before you know it.

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