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SCOTUS Agrees to Decide Whether CFPB’s Funding Is Unconstitutional but Will Not Hear Case Until Next Term

The U.S. Supreme Court has granted the certiorari petition filed by the CFPB seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB.  In that decision, the Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution and, as a remedy for the constitutional violation, vacated the CFPB’s payday lending rule (Rule).  The Court was unwilling, however, to expedite the case and hear it this Term as requested by the CFPB and instead will hear the case next Term.

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Having a strong compliance team isn't enough. 

If you don't know what's actually going on in compliance across the industry - with lawsuit trends, with auditor demands, or with client expectations - and if you don't know how other sharp compliance professionals are handling similar challenges, your CMS will suffer. Get the critical compliance connections, feedback, direction, and trends you need with Research Assistant (from insideARM). 


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NCB Crown Asset Management Spring Oaks Capital

How A Compliant No-Cost-To-Biller Fee Model Can Help Your Business. [Sponsored]

In collections, the biggest challenge is getting in contact with account holders and setting up a payment agreement to resolve outstanding debt, especially with consumers who have a low propensity to pay. But once the agreement is made, it’s smooth sailing. Right?

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Phillips & Cohen Associates acquires Ardent Credit Services as Part of Major International Expansion Plan

MANCHESTER, United Kingdom -- Phillips & Cohen Associates (UK) Ltd, the Manchester-based deceased account management business, is acquiring 100% of Ardent Credit Services, the Liverpool-based debt recovery and credit management services provider.

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VeriFacts Gears Up For YMCA Spinathon

STERLING, Ill.-- VeriFacts, a leading location and employment verification service provider for the receivables industry, is firmly rooted within our community and takes great responsibility and commitment to giving back. VeriFacts is proud to have a team that works hard and also plays hard. For the fourth year in a row, the VeriFacts team will participate in the YMCA Spinathon helping support thousands of children in the area get involved in afterschool programs, sports, and even summer camp at the Y.

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Michigan Federal Court Finds Conflicting Records Concerning Request to Remove Disputed Debt Status Creates Issue of Fact in FDCPA Case

In a recent decision, a Michigan district court found that because there was a genuine issue of fact as to whether the defendant debt collector notified the consumer reporting agency (CRA) to remove a disputed debt notification from the plaintiff’s tradeline, the case could proceed to trial.

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RMAI 2023 Annual Conference Donates to The Shade Tree, Las Vegas Charity Empowering Women and Children

SACRAMENTO, Calif. -- The Receivables Management Association International celebrated its 26th Annual Conference in Las Vegas, February 6-9, 2023. Wanting to give back to the Las Vegas community while presenting the Annual Conference there, RMAI organized a charity fundraiser to support The Shade Tree, a Las Vegas charity that provides shelter and services to women in need, as well as their children and pets.  The program also empowers women with new life skills classes, including financial literacy, and other resources.  Attendees of the RMAI Annual Conference donated money to provide 500 piggy banks, filled with $20 each, plus 500 financial literacy game cards to the children staying with The Shade Tree.

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Work Smarter Not Harder - Streamline Your Audit Process

TODAY! February 28, 2023 at 02:00 p.m.

Audits take up a huge amount of time and energy- but they are a critical component of a functioning compliance department. Auditing provides a path for an organization to find small issues before they become big. Perhaps more importantly, clients and regulators expect their vendors and even the purchasers of their debt to perform routine audits. As the regulatory environment continues to expand, the audit process gets larger and larger.

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