Colorado Clarifies Intersection Between Regulation F and State Disclosure Requirement

On December 20, 2021, the Administrator of the Colorado Uniform Consumer Credit Code (an assistant attorney general) published an Advisory Opinion clarifying the State’s interpretation of the Colorado Fair Debt Collection Practices Act and its intersection with Regulation F.  Like a handful of other States, Colorado adopted its own state law FDCPA. 

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Think Differently: Digital Advances Mark a New Era in Debt Collections

Over my career, I’ve witnessed several macroeconomic events that have shaped the debt collection industry. Yet none has been as unique as the COVID-19 pandemic, which has left millions of consumers struggling either from the virus or loss of income, overwhelmingly through no fault of their own.

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LendUp Agrees to Halt Making New Loans to Resolve CFPB Lawsuit

On December 21, 2021, the CFPB announced that LendUp Loans, an online lender with heavy venture capital backing, has agreed to halt making any new loans and collecting on certain outstanding loans in order to resolve a September 2021 lawsuit. The lawsuit alleges that LendUp continued to engage in illegal and deceptive marketing despite a 2016 consent order.

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Convoke Looks Back on Successful Year 2021

Arlington, Va. -- Convoke, a leader in SaaS solutions for the debt collection market, is pleased to announce the completion of another successful year for the company. Despite the challenges created by the COVID-19 pandemic, Convoke has still outperformed and has achieved continued company growth and product development.

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Summit Account Resolution Gives Back

Champlin, Minn. -- Despite the ongoing pandemic, Summit A*R, a national revenue cycle management company in Minnesota, was able to spread some extra holiday cheer this year. As part of their annual community outreach, their staff and families chose residents of a local veterans’ home to be the recipients of some well-deserved gifts and Christmas joy. 

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Prodigal’s Scott Hamilton and Son Sell Hand Turned Wooden Bowls to Feed the Hungry

Richmond, Va. -- Prodigal, a leading AI driven loan servicing and collections automation platform, is a team with a strong shared drive for serving others in the community. In their personal lives, they strive to be good stewards of what they accomplish in their professional lives. One shining example of this is the story of Serving Bowls, a nonprofit started by Scott Hamilton, Prodigal Sales Executive, and his son at the start of the Covid-19 pandemic. The organization is still going strong today.

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Free Reports and Webinars

from insideARM.com

» When Each Call (and E-mail) Count: Meeting the CFPB 7x7 with Intelligent Contact Data

» The Kaulkin Report, 2022 Edition Sub-Report: Market Sizing

» Playing by the Rules: A Case Study on Compliant Convenience Fees in ARM

» The Kaulkin Report, 2022 Edition, Sub-Report: Introduction to Accounts Receivable Management

» The Customer Preference Playbook

» How to Make Every Call, Text, and Email Count in the Era of the CFPB’s Regulation F

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