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California Requests Feedback on Proposed Debt Collection Regulations Impacting Licensing, Reporting, and Records

On July 15, the California Department of Financial Protection and Innovation (DFPI) issued an invitation for comments on proposed additions to regulations implementing the Debt Collection Licensing Act (DCLA). According to the invitation, the new provisions pertain “to the scope, annual report, and document retention requirements of the DCLA.” For example, the proposed regulations define “original creditors” and propose to generally exclude them from licensure unless one or more of the following benchmarks applies:

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New: The Evolution of the Maturing POS/BNPL Consumer

Buy Now, Pay Later (BNPL) and point-of-sale (POS) financing is expected to top 40% annual growth by 2030. Want to understand the POS/BNPL consumer better? In this new, comprehensive study from TransUnion, find out:

  • How and why consumers are using POS/BNPL products

  • How the demographics, risk levels and access to credit of these consumers have changed

  • The short- and long-term benefits lenders can gain from these POS financing insights

Get the new, free study right here.

insideARM is grateful to our 2022 Strategic Supporters:

NCB Crown Asset Management Spring Oaks Capital TransUnion Provana

ACA International Elects New Officers and Board Members for 2022-2023

ORLANDO, Fl --During ACA International’s 2022 Convention & Expo in Orlando, the Council of Delegates elected four board members to serve three-year terms and one board member to serve a two-year term on the ACA Board of Directors. The ACA Board of Directors also elected a slate of new officers for the 2022/2023 term.

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Hunstein Copycat Suit Fails Where Data Sent to Vendor is Secure

The line of cases known as "Hunstein Copycats" continues to develop through the court systems. Unlike the last case to make headlines, the most recent result is positive for the ARM industry.

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Optimize Your Post-Forbearance Collections Strategies with Data and Analytics [sponsored]

The COVID-19 pandemic created unprecedented challenges for the debt collections industry, including new regulatory rules, changing consumer demands, and a potential uptick in activity as forbearance nears an end and deferments fall off. The pandemic continues to affect everyone’s lives, and — along with inflation and market fluctuations — the only thing that’s certain is continued uncertainty. As lenders and third-party collections agencies plan their next steps, a robust evaluation of debt-recovery processes should be a required starting place.

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COHEAO Recognizes Michelle Hartmann as Commercial Member of the Year

ROCHESTER, N.Y. --Continental Service Group, Inc., d/b/a ConServe, is pleased to announce that Michelle Hartmann, Vice President of Sales was awarded the 2021 COHEAO Commercial Member of the Year award by the Coalition of Higher Education Assistance Organizations (COHEAO) at their 2022 Annual Conference held in Washington, DC in July.

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CFPB Highlights Impact of Credit Card Line Decreases on Consumers

A new report by the CFPB uses over five million credit records from one of the three nationwide consumer reporting agencies to examine how credit card companies have used credit line decreases throughout the Great Recession and the early stages of the COVID-19 pandemic.  As a general trend, the report found issuers used credit line decreases during broad economic downturns as a way to decrease overall risk.

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WCF 2022

5 December 2022 at 08:00 a.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2022, December 5-7, 2022 at the Renaissance Esmeralda in Palm Springs. 

Registration is now open!

Event Details »