CFPB Issues Advisory Opinion to Consumer Reporting Agencies to Remove “Facially False Data” to Maintain FCRA Compliance

Pursuant to its authority under Section 1022(b)(1) of the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to consumer reporting agencies (CRAs), highlighting their obligation to screen for and eliminate obviously false data from consumers’ credit reports. Specifically, CRAs were instructed to implement policies, procedures, and systems to screen for and remove “logically inconsistent” information.

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Compliance Director Susan Namm Joins the SAM Squad

PITTSBURGH, Pa. -- Solutions for Account Management, Inc. (SAM) is excited to announce that Susan Namm CCCO, CCEP, CRVPM III has joined SAM as our Compliance Director. Susan brings more than 30 years of experience to SAM in compliance management, vendor management, auditing, and collection agency licensing.

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Third Circuit: Risk of Future Harm from Data Breach Enough for Article III Standing

The U.S. Court of Appeals for the Third Circuit recently held in Clemens v. ExecuPharm Inc. that the risk of future harm from a data breach can be enough for Article III standing, taking into consideration whether the breach was intentional, whether the data was misused, and the nature of the data accessed.

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Industry Veteran Robert Russo Joins Pollack & Rosen, P.A.

MIAMI, Fla. -- The law firm of Pollack & Rosen, P.A., announced today that Robert Russo has joined the firm as Sr. Vice President Corporate Development to further expand its growing portfolio of regional and national clients.

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ConServe Cares Program Supports Junior Achievement

ROCHESTER, N.Y. -- Continental Service Group, Inc., d/b/a ConServe, through the company’s ConServe Cares program, provides employees with the opportunity to “give back” to their local communities by donating to a diverse group of organizations throughout the year.  The funds raised by the employees’ generosity is supplemented by the organization’s “Matching Gift Program.”  This ongoing initiative symbolizes ConServe’s commitment to its corporate mission of helping to improve the human condition.

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“It’s About ‘That’ Time” for the CFPB to Comment on Hunstein

The recent decision by the Fifth Circuit Court of Appeals holding the funding structure of the Consumer Financial Protection Bureau (CFPB) as unconstitutional was hailed by many in the debt collection industry as a long-overdue check on the seemingly unlimited power of this federal agency. (See The CFPB and the Fifth Circuit Ruling: 3 Things You Need to Know).

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How to Launch an Omnichannel Collection Strategy

16 November 2022 at 02:00 p.m.

As the number of channels consumers use increases, an omnichannel collections strategy is now a necessity, not a luxury. But launching a real omnichannel strategy can be difficult, especially if you’re new to digital collections.

There are complications, like adding new technology to support your strategy, understanding the regulations for each contact method, and creating a tailor-made plan to contact consumers based on their preferences.

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