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CFPB Harasses Crystal Moroney & 2nd Circuit Sides with Goliath & It…

Steel Rose

A three-judge panel of the U.S. Court of Appeals for the Second Circuit handed down a decision on March 23 holding that the funding mechanism for the federal Consumer Financial Protection Bureau is constitutionally sound. In doing so, it “respectfully decline[d] to follow the Fifth Circuit’s decision” in Cmty. Fin. Servs...

Making the CFPB Accountable to Small Businesses Act Introduced in Congress
Congressman Scott Fitzgerald (WI-05) introduced the Making the CFPB Accountable to Small Businesses Act. This legislation would require the Consumer Financial Protection Bureau…
We Continue to Disagree with the CFPB's Characterization of Our Conduct, Says PRA CEO
PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and servicing nonperforming loans, announced today that its subsidiary, Portfolio Recovery…
CFPB Orders Are Not Suggestions Says Chopra As PRA Settles for $24M
Portfolio Recovery Associates admitted to no wrongdoing and agreed to pay $24 million over allegedly illegal practices, the top U.S…

Proposals to Reform CFPB by the U.S. House Financial Institutions and Monetary Policy Subcommittee
The U.S. House Financial Institutions and Monetary Policy Subcommittee held a hearing entitled “Consumer Financial Protection Bureau [CFPB]: Ripe for…
Silicon Valley Bank Reckless With Risk, ESG Push: State Financial Officers
The State Financial Officers Foundation — a group of state auditors, chief financial officers, controllers, and treasurers — released a…
How To Respond When Your Overdue Account Is Sent To Collections
Imagine you got sick a few months ago, and put your medical bills on a credit card. But then life…

Collection Agency Required Disclosures for Processing a Visa Card Payment After 4/15/23
Move over, Tax Day! This year, April 15 falls on a Saturday so the IRS moved the tax filing deadline…
"Will Pay Any Person $1,000,000 with an Upcoming Case" Claim Retracted by "World's First Robot Lawyer"
Battle lines were drawn early this year over the consumer advocacy app DoNotPay, whose founder and CEO Joshua Browder announced on January…
Why You Shouldn’t Move Abroad With Unpaid Credit Card Balances
If you’re thinking of moving abroad, it’s important to know what will happen to your unpaid credit card debt. In…

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CSS Product Spotlight

Henry Gardner

CSS, Inc., a leading provider of enterprise class accounts receivable management and financial software offers a broad portfolio of platforms & solutions. CSS enables companies to transition their legacy revenue & payment management systems to a modern, cognitive, centralized, cloud-based Financial Ecosystem®. CSS may be utilized to provide business financial...

Developing a Network of Closed Sources by Ron Brown, Skip Tr…

Ron Brown

As we begin this article it is very important that the professional tracer clearly understand what constitutes a “CLOSED SOURCE”, the value of a closed source network and the obligation due to each closed source. Definition: CLOSED SOURCE… sources of information with restricted access and information available only through mutual information...

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Shielding Collectors From TCPA and FDCPA Violations

Joshua Fluegel

The demands of regulators lead collection professionals to collect debt with the credo of “as little contact with the consumer as possible.” Every eliminated encounter with a consumer while the payment is still being collected is one less chance for a TCPA or FDCPA violation. For this reason many accounts...

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Hunstein on Rehearing – Revisiting Article III Standing in t…

Eve Cann and Jonathan Green

On April 21, 2021, the Eleventh Circuit Court of Appeals issued its decision in Richard Hunstein v. Preferred Collection and Management Services, Inc., and potentially created a new claim under the Fair Debt Collection Practices Act (FDCPA) – ruling that a debt collector's sharing of information with a vendor is a violation...

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The Secret to Excelling in Profit AND Performance

Gordon C. Beck III

To each their own. That’s what I keep telling myself when discussing with my competitors what their strategy is to run and operate a successful collection agency. Everyone’s outlook is different, but the same. Sure, everyone wants to be a top agency, that’s what everyone is supposed to say. But...

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Executive Orders Impacting Collections

Michael Starzec

No, this is not a review of the 1996 thriller starring Kurt Russell, Halle Berry and Steven Seagal but it does focus on the prestige of the word “Executive.” At hotels and sports arenas, you want the executive suite. In Illinois, at least a 1,000 corporations integrate “executive” into their...

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Alternatives to Payday Loans

Steel Rose

Alternatives to Payday Loans While a better alternative is a local credit union especially a low-income credit union, the web is sprouting other alternatives to payday loans. Although the web lenders rates are higher than credit unions, they have still lower rates than payday loans. According to wallethub.com, NetCredit offers personal...

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3 Options to Offer During Tax Season

Nick Jarman

When it comes to collecting debt, tax season is without argument the most profitable season of the year. Tax season starts at the beginning of February and wraps up in early May. February generally sees the highest return and slightly tapers off each month thereafter. One issue that can ease...

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PCI Compliance, SOC, and HITRUST

Debra J. Ciskey

With the June, 2019, disclosure of a data breach at AMCA looming large in the rearview mirror, debt collectors both large and small are scrambling to verify the security of their consumer portals and their consumer information in general. With numerous vendors and auditors serving the industry in this key...

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Collectors Working from Home: Is that Remotely Possible?

Harry Strausser

Over the years, when I presented programs on technology and the impact it has had on the ARM industry, I have always found a lot of entertaining stories and examples to use underscoring how far we have come. The interesting dynamic with technological change is that we quickly forget how...

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Report on the Economic Well-Being of U.S. Households
Despite persistent concerns that people expressed about the national economy, the survey highlights the positive effects of the recovery on…
Stricter Rules for Collectors May Create 'Loopholes' for Debtors to Dodge Payments, Firms Say
Proposed laws to regulate debt collection activities in Singapore could help raise standards across the industry, but some companies worry…
CFPB's Legal Challenge to Unconstitutional Funding in 5th Circuit
The Consumer Financial Protection Bureau again faces an existential threat in the courts — this time over whether the agency’s…
Sending Text Messages to Bank Provided Express Consent for Dialer Use
Plaintiff American Savings Bank, F.S.B (“ASB”) sent text messages to his mobile phone without the consent required by the Telephone…
Mortgage Delinquencies Hit Yet Another Record Low in April with Continued Improvement in Seriously Past-Due Loans
The national mortgage delinquency rate fell to 2.80% in April, down four basis points from March, hitting a new record…

Latest Version of Collect! Enables CFPB Reg F Compliant Collections
Comtech, a worldwide leader in collection software, releases Collect! Version 13 (CV13) to deal with new Consumer Financial Protection Bureau…
Introducing Collect!'s Report Generator
Collect's new Report Generator utility is a game changer for Collect! users currently writing reports with Collect!'s proprietary Report Writer…
PSCU Partners with Telrock to Offer Next-Generation Delinquency Management Software Platform
St. Petersburg, Fla. — (June 4, 2020) — PSCU, the nation’s premier payments credit union service organization (CUSO), announced it…
CFPB Supervisory Highlights Notice Needed on Subsequent Letters
In this issue of Supervisory Highlights, we report examination findings in the areas of debt collection, mortgage servicing, payday lending…
Buffalo's Bobby Rich Banned for Life
BUFFALO, NY (WKBW) — New York Attorney General Letitia James announced a settlement today, banning Buffalo-based debt collector Robert Heidenreich…

CFPB and Time Barred Debt--What You Should Know
The Consumer Financial Protection Bureau (CFPB) has issued a Supplemental Notice of Proposed Rulemaking (Supplemental NPRM) regarding the collection of…
Survey Reveals Collections' Positive Impact
If you are ever questioned as to whether or not debt collection helps the economy, just know that a new…
PlusFour, Inc. Now HITRUST Certified
PlusFour, Inc., a leading third-party debt collector, today announced that its infrastructure has earned Certified status for information security by…
PDCflow Announces Patent on Technology for Secure Payments
PDCflow announces partnership with US Patent owner Zukunftware, LLC for management and licensing of newly patented technology. The patent (US…
Payscout Launches New "Condor" Self Service Payment Portal
Launching new frictionless payment portal linking businesses to back end processing facilities and streamlining customer to business transactions Payscout announced today…

LocateSmarter® and TEC Services Group, Inc. Announce Strategic Partnership
LocateSmarter LLC, a leading data and analytics company, and TEC Services Group, Inc. (TEC), a leading provider of analytics consulting…
Cincinnati Adopts CSS IMPACT! Financial Cloud
CINCINNATI, OH. - The City of Cincinnati commenced the implementation process of their new Cloud Financial Ecosystem “CSS IMPACT! HD™…
TCPA Update: Financial Industry Keeps Up the Pace in Challenging FCC, Alleged Violations
The most important ruling by a court on the TCPA is one that has not quite happened yet. The D.C…
Frost-Arnett and HealthiPASS Form Strategic Alliance
Alliance to Expand Adoption of HealthiPASS Patient Payment Solution and Promote Price Transparency NASHVILLE, Tenn., - Frost-Arnett, a leader in…
DAKCS Software And PDCflow Give Back to the Community Through Support For The Elderly And Sponsorship Of La Roca Girls’ Development Academy Teams
OGDEN, UT — DAKCS Software and PDCflow are promoting support for the elderly through volunteerism. The local Utah software companies…

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Exclusive Editorial - Attorneys Explain What Creditors Should Do Now to Collect Later
Unfortunately, closing that sale is only half the battle in commerce. Ensuring payment afterward can be another thing entirely, as…
Exclusive Editorial - 7 Leading Attorneys Provide Pitfalls You Must Avoid in 2019
Wouldn’t it be great if you could see all the most dangerous compliance pitfalls before they become large and costly…
Exclusive Editorial - What the Industry’s Most Innovative Agencies Hope the Future Will Bring
Forecasting the future of collection technology is no easy task. However, experience and the desire of professionals in the industry…
Key Advice From the Stars of Compliance
The Stars of Compliance reveal the best compliance advice they have ever received. Simply put: the fruits of years of…
4 Myths in Telecommunication You Shouldn’t Believe
There are a vast number of telecommunication tools available to collection professionals. While each is tied to Alexander Graham Bell’s…
New Telecommunication Technology Breakthroughs
One can feel defeated when tasked with keeping up with the latest telecommunication technology that can help collection efforts. The…
2 Tech Solutions You Need for Enterprise-Size Problems
The size of a problem is relative to the effectiveness of the corresponding solution. In collection agencies with 1,000 seats…
Incorporate Compliance Objectives with Performance Incentives
There’s a motto I have these days that says, “it’s all about performance until it’s about compliance and it’s all…
Satisfy Clients and Regulators Using Software
Clients ask agencies and law firms to collect on delinquent accounts while preserving their relationship with that consumer. Regulators expect…
This Will Hurt Your Electronic Payments
Do not do the things described in this article; it's as clear as that. There is no grey area or…

12 Experts Sound Off: What Must Be Done Differently for Multi-Office Collections
The opening of a second collection facility will mean many changes for your agency. But what about your software? Does…
10 Ways to Leverage Software in Utility/Municipal Collections
Success in utility and municipal collections requires a tight ship with little to no waste. Fortunately today's software allows this…
Clamp Down On How You Are Discouraging Payments
A great deal of work goes into getting a consumer to the payment phase of collecting a debt. The last…

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