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Massachusetts AG Reaches $12 Million Settlement With Consumer Debt Buyer

A consumer debt buyer recently agreed to a $12 million settlement to resolve allegations by the Massachusetts Office of the Attorney General of a variety of allegedly unlawful debt buying and collection practices.

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Why SMS, Email, and Letters Should be the Cornerstone of Your Post-Regulation F Strategy

Thanks to Reg F, companies in the ARM space have to deal with even more onerous restrictions on how, when and how often they can communicate with consumers. These new rules, layered on top of previous rules, continue to chip away at the traditional mainstay of collections: phone calls. In this new whitepaper from Nordis Technologies, find out why collectors should focus on print and digital communications as key pillars of a post-Reg F strategy. Plus, learn how new, cloud-based, omnichannel tools for SMS, email, and letters can help collectors respond quickly to clients, be much more responsive to compliance needs, and improve consumer contact rates.


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Debt Settlement in the Credit Eco System [Podcast]

As the headwinds of a turning economy impact more and more consumers, understanding how #debtsettlement fits into the credit ecosystem makes for a timely conversation. Teresa Dodson, founder of Greenbacks Consulting and the leading expert on debt settlement, stops by #creditecotogo to set the record straight about debt settlement.

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CFPB Files Complaint Against Online Lender Alleging MLA Violations

On September 29, 2002, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint against online lender MoneyLion Technologies, Inc, and several dozen of its subsidiaries (collectively, “MoneyLion”), alleging violations of the Military Lending Act (“MLA).  The complaint alleges that MoneyLion (i) overcharged servicemember and their dependents by imposing fees that, together with stated interest rates, exceeded the MLA’s 36% Military Annual Percentage Rate (“MAPR”), (ii) failed to provide required disclosures, and (iii) included arbitration clauses prohibited by the MLA.

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CFPB Focuses on Student Loans — Especially Those Made by Schools — in Latest Supervisory Highlights

On September 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released a special edition of its Supervisory Highlights, focusing on student loan servicing. The report contained findings on federal student loan servicing that echo many recent public comments by the Bureau, but more notably, this edition of Supervisory Highlights also focused heavily on loans made by schools themselves, and the CFPB simultaneously announced that it was updating its examination manual and would be conducting examinations of schools that make their own loans to students.

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3 Ways to Prepare for Ramped-up FCRA Scrutiny

It’s clear: the CFPB is using the FCRA to advance its agenda. The Bureau wants to create a consumer-friendly credit reporting precedent and it is using FCRA-related lawsuits and enforcement actions to get it.

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CFPB Rescinds No-Action Letter and Compliance Assistance Sandbox Policies

The CFPB, in a notice published in the Federal Register on September 27, 2022, announced that it was rescinding its No-Action Letter and Compliance Assistance Sandbox policies (Policies).  The rescission was effective on September 30, 2022.

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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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