CFPB Shuts Down Medical Debt Collector for Attempting to Collect Unverified Debt

On December 15, the Consumer Financial Protection Bureau (CFPB) announced it had reached a settlement with medical debt collector Commonwealth Financial Systems, Inc. (Commonwealth) in its lawsuit over alleged illegal debt collection practices. Specifically, the CFPB alleged that Commonwealth failed to conduct reasonable investigations of disputes and violated the Fair Debt Collection Practices Act (FDCPA) by attempting to collect disputed debt without obtaining substantiating documentation. Under the settlement agreement, Commonwealth is banned from debt collection activities, must request CRAs to delete all consumer accounts to which it had previously furnished information, and must pay a $95,000 penalty to the CFPB’s victims relief fund.

Read the Whole Story »

VeriFacts Supports Breast Cancer Awareness Month Through Local Hospital

STERLING, Ill -- VeriFacts, a leading data provider for the financial services industry, continued its tradition of charitable initiatives with a locally focused Breast Cancer Awareness Month campaign. The VeriFacts team gathered donations from the community, staff, friends, and family to create Breast Cancer Awareness baskets for all those at CGH Medical Center in Sterling, IL.

Read the Whole Story »

Arizona Federal District Court Holds MMS’s Are Not Prerecorded Messages Under the TCPA Unless They Play Automatically

A district court in the District of Arizona granted a motion to dismiss in a Telephone Consumer Protection Act (TCPA) case on the basis that multimedia messaging service (MMS) texts do not constitute prerecorded messages unless the audible component plays automatically upon opening.

Read the Whole Story »

Glass Mountain Capital Champions the Fight Against Child Hunger This Holiday Season

SCHAUMBURG, Ill.-- In the spirit of the holiday season, Glass Mountain Capital is proudly stepping forward as a beacon of hope and generosity in the community. Embracing the true essence of giving, the company is dedicating its resources and efforts as donors to combat child hunger, a pressing issue in today's society.

Read the Whole Story »

CFPB Fall 2023 Rulemaking Agenda Indicates Imminent Issuance of Final Credit Card Late Fees Rule and Proposed Rules on Overdraft and NSF Fees

The CFPB has released its Fall 2023 rulemaking agenda as part of the Fall 2023 Unified Agenda of Federal Regulatory and Deregulatory Actions.  The agenda’s preamble indicates that “[t]he Bureau reasonably anticipates having the regulatory matters identified [in the agenda] under consideration during the period from November 2023 to October 2024.”

Read the Whole Story »

Successfully Transform Your Phone Channel Collections Training for Remote Agents

See how collections training programs can use real-world activities and empathy to boost learning outcomes, customer satisfaction and collections performance.

Read the Whole Story »

Featured Resources and Webinars

from insideARM.com

» Seizing the Opportunity in Uncertain Times: The Collections Industry in 2023

» Listen to Voice AI in Action

» Streamline Your Collections Process with Voice AI

» NAVIGATING COLLECTIONS LICENSING: How to Reduce Financial, Legal, and Regulatory Exposure

View all Free Reports and Webinars