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Debt Collection Industry Again Left Out of CFPB's Consumer Advisory Board

On Thursday, October 3, the Consumer Financial Protection Bureau (CFPB or Bureau) announced its appointment of members to its Consumer Advisory Board (CAB) and other councils. The new CAB, which serves to advise and consult the Bureau on consumer financial issues, contains a varied and impressive range of members. Included are fintech companies, consumer advocates, creditors, and market researchers. However, debt collection industry representatives are noticeably absent—the closest match is the representative from Scrach Services, Inc., a loan servicer.

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The Perfect Storm - Four Major Challenges in the Debt Recovery Space

9 October, 2.00 p.m. Eastern!

The collections industry is facing some of its steepest challenges to date:

• hiring in the midst of historically low unemployment
• rising wage rates
• reduction of client fee rates
• the rising cost of compliance.

The complexity and interconnectedness of these challenges demand that agencies develop and deploy unique solutions such as artificial intelligence to these problems, otherwise, they will be left behind by more innovative firms.

Join Mike Frost, Managing Partner Malone Frost Martin and Marty Sarim, President & CEO of ERC to hear the depth of these challenges, what agencies should be doing to embrace and overcome them, and get an update on the first-ever deployment of a Virtual Collections Agent at ERC.

Register -- for free! -- here.


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You Oughta Know, 7 October 2019

Welcome to You Oughta Know, a collection of links from around the internet that you should probably know about.


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Validation: A Closer Look at the CFPB's NPRM

15 October 2019 at 02:00 p.m.

Join members of insideARM's Research Assistant group as they dive deeper into the Validation section of the CFPB's NPRM.

Event Details »


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