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New: Updated Credit Industry Trends at-a-Glance

New from TransUnion - the Q2 Monthly Credit Industry Snapshot breaks down key credit metrics and explains how the pandemic, inflation and overseas conflict have affected consumer credit.

 

This report includes:

  • Key credit metrics for credit card, auto finance, mortgage and unsecured personal loans

  • The status of accounts in hardship for each line of business by risk tier

  • Trends regarding average loan amounts, bankcard balances, delinquency rates

  • Macroeconomic indicators on the current economic environment for the consumer market

Get the free report here.
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insideARM is grateful to our 2022 Strategic Supporters:

NCB Crown Asset Management Spring Oaks Capital TransUnion Provana

CFPB Prioritizing Enforcement Over Education

On August 4, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra spoke at the Philadelphia Federal Reserve Bank’s Sixth Annual Fintech Conference, arguing that enforcement actions rather than financial literacy efforts were necessary to prevent consumer abuse.

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Secure Payment Capture Technology Through PDCflow/PIMSWARE Partnership

OGDEN, UT – Payment communication software company PDCflow and call center software company PIMSWARE have teamed up to deliver secure capture payment technology.

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Debunking Three Compliance Myths Regarding Texting in Collections & Recovery

Are lenders being too cautious when it comes to using texting / SMS for debt collection? Several third-party agencies with deep SMS experience say yes.

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Will the Definition of an ATDS Soon Include Text Messages?

On July 12, 2022, the House of Representatives introduced H.R. 8334 to amend the Communications Act of 1934 to prohibit the use of automated telephone equipment to send unsolicited text messages, and for other purposes.

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CFPB to Make Organizational Changes

According to media reports, CFPB Deputy Director Martinez sent a memo to staff the week of July 11th announcing the following organizational changes:

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Overcoming Communication Barriers to Reach Your Accounts

14 September 2022 at 02:00 p.m.

In the seven-in-seven Regulation F era, every call counts. Transformation is needed in collection practices to become more precise on how to reach consumers – and precision does not mean making just one call a day.

What if you knew who to contact; what number to use and the best time to connect with consumers?  Phone Behavior Intelligence enables organizations to plan their outreach campaigns to connect with their customers by identifying the most active numbers to call and better align with the timeframes when individual consumers are using their phones.

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