Essential headlines, new reports, and best practices from insideARM.com. Got this from a friend?
Subscribe to the ARM Insider
insideARM ARM Insider

CFPB Reminds Financial Institutions to Retain Records of Affirmative Consent for Overdraft Opt-in

On September 17, 2024, the CFPB issued Consumer Financial Protection Circular 2024-05 on improper overdraft practices. The circular reminded financial institutions of their obligation to retain records that prove the consumer consented to the institution’s payment of ATM and one-time debit card transactions.

Read the Whole Story »


How Lenders Are Increasing Agent Workload – Without Burnout: Digital Strategies and Agent Stability in Collections  

Despite rising caseloads and communication demands, agent turnover has remained steady in recent years for first-party collections shops. Data from Auriemma Roundtables suggests e-communications and workforce management changes could help explain this decoupling between workload and burnout. In this study, you’ll see how lenders used digital communications and innovative workforce strategies to enhance efficiency and navigate the evolving collections landscape.  

Download now to learn more.  

ADVERTISEMENT
Advertisement

insideARM is grateful to our 2024 Strategic Supporters:

NCB Crown Asset Management Spring Oaks Capital

Finvi Announces Partnership with Divinity Software as Velosidy™ Integrations Build

BURLINGTON, Mass. -- Finvi, the leading provider of enterprise technologies that streamline and accelerate revenue recovery for clients across the accounts receivable management (ARM) industry, today announced a new partnership with Divinity Software, which specializes in providing state-of-the-art software solutions that empower businesses to streamline customer engagement and optimize financial performance with their easy-to-use portal.

Read the Whole Story »


New York Federal Court Certifies TCPA Class Where Phone Numbers Were Obtained Through a Third-Party Website

In Aley v. Lightfire Partners, LLC, a U.S. District Court in the Northern District of New York certified a Telephone Consumer Protection Act (TCPA) class action for all persons whose telephone numbers were on the National Do Not Call Registry (DNC) but who received more than one telemarketing call from the defendant based on alleged consent given to a third-party website.

Read the Whole Story »


ADVERTISEMENT
Advertisement

Hudson Cook Enforcement Alert: Nonbank Student Loan Servicer Agrees to a CFPB-Imposed Ban and to Pay $120 Million

The Consumer Financial Protection Bureau ("CFPB") filed a proposed stipulated final judgment and order against a nonbank student loan servicer over alleged violations of the Consumer Financial Protection Act ("CFPA"), the Fair Credit Reporting Act ("FCRA"), and the Fair Debt Collection Practices Act ("FDCPA"). The settlement includes a ban from acquiring or servicing certain direct federal student loans and requires payment of $120 million.

Read the Whole Story »


insideARM Weekly Recap - Week of September 16th, 2024

The world of debt collection is never at a loss for updates, but separating the important stuff from the background noise isn't always easy. At insideARM, our goal is to help you answer those questions. We wade through the constant onslaught of updates and bring you the need-to-know highlights. Every Monday, we bring you a recap to help you stay informed and let you know why that piece of news is important.

Read the Whole Story »


CFPB Submits Comment Letter on Use of AI in Financial Services

On August 12, the Consumer Financial Protection Bureau (CFPB) submitted a comment letter in response to a Treasury Department Request for Information on the use of AI in financial services.

Read the Whole Story »


ADVERTISEMENT
Advertisement