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Calling Balls and Strike on the Debt Collection Rule

Georgetown Professor Adam Levitin stops by Clark Hill’s Credit Eco to Go to provide his objective perspective on the CFPB's Final Debt Collection Rule.

Overall Adam supports a having clear rules of the road, regardless of whether you agree with the rule itself.  He agrees that having a rule that provides guidance for debt collectors to navigate the electronic ecosystem is very important and was glad to see that a model validation was finalized but believes it will be tweaked over time. Adam does have concerns about the frequency limits with regard to attempts to communicate by telephone and worries that repeated and unwanted calls find their way into harassment.

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New Whitepaper: 8 Requirements Your Payment Provider Must Have in the ARM Industry

When it comes to the Accounts Receivable Management (ARM) market, payment processing is not so simple. Offering consumers a variety of payment options, including online portals, text messages, and IVR, seems simple enough. Still, there's a lot going on in the background that makes those payments happen. In this new, free whitepaper from BillingTree, find out about the features and compliance that a payment processor must have to keep their ARM partners operating efficiently.  Click here for more.
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Debt Collection Fintech InDebted Completes Acquisition to Enter U.S. Market & Announces Key Executive Hires

SYDNEY, Australia –– InDebted, the Sydney headquartered fintech that specializes in digital debt collection for unsecured consumer debt, today announced that it has acquired Delta Outsource Group Inc. (Delta) in the USA to launch its product and service into the American market, and hired three key executives to help globally scale InDebted.

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HS Financial Group Announces HUBZone Certification and Promotion of Lauren Summers to Vice President

CLEVELAND, Ohio -- HS Financial Group (HSFG), a certified Service-Disabled Veteran-Owned Small Business (SDVOSB), is pleased to announce its certification as a Historically Underutilized Business Zone (HUBZone) business by the Small Business Administration.  We are also excited to announce the promotion of Lauren Summers to Vice President.

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Provana Acquires Greenlight Office Solutions

CHICAGO, Ill. -- Provana, a leading provider of best-in-class technology solutions is proud to announce its acquisition of Greenlight Office Solutions.  Greenlight, a boutique software development and consulting company is known for delivering custom automation solutions for companies within the ARM industry.

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CFPB Acting Director Asks Markets Group to Look into Pausing Debt Collection Rule

Acting CFPB Director Dave Uejio is making the rounds. Last week he shared a new direction with employees in the Supervision, Enforcement, and Fair Lending (SEFL) division. Yesterday, it was Research, Markets, and Regulations' (RMR) turn.  Last year, RMR released the seven-years-in-the-making Final Debt Collection Rule, which takes effect November 30, 2021. Uejio asked the group to explore options for preserving the status quo with respect to this rule, in order to provide the greatest possible flexibility for the incoming Director.

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Have You Taken a Moment to Contemplate the Jaw-Dropping Changes Happening in the ARM Industry?

In the newspaper business, a story about a dog biting someone is not always front-page news. The saying goes, a story where a man bites a dog, now that is something that needs to go on the front page. Change may be the one constant that exists in life, but it is jaw-dropping changes that are happening in the accounts receivable management industry as we sit here today. The number of “man bites dog” stories that are occurring at the same time is unprecedented.

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Women in Consumer Finance 2021

6 December 2021 at 10:00 a.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2021 – a virtual and in-person conference and networking experience for ALL women in consumer finance.

Event Details »