White House Issues Blue Print for AI Bill of Rights

The White House’s Office of Science and Technology Policy has identified a framework of five principles, also known as the “Blueprint for an AI Bill of Rights,” that is intended to guide the design, use, and deployment of automated systems and artificial intelligence (AI).  The Blueprint defines automated systems broadly as any system, software, or process that uses computation to determine outcomes, make or aid decisions, inform implementation, collect data, or otherwise interact with individuals or communities.

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CFPB Report Finds Some Financial Institutions and Colleges May Be Steering Students to More Expensive Financial Products

On October 13, the Consumer Financial Protection Bureau (CFPB) released its 12th Annual Report to Congress on college credit card agreements. The report reviewed agreements and data covering the over 1.2 million student checking and credit card accounts that are governed by partnerships between institutions of higher education and financial services providers, and it highlighted market trends and possible risks.

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The CFPB and the Fifth Circuit Ruling: 3 Things You Need to Know

Per the Fifth Circuit Court of Appeals: the Consumer Financial Protection Bureau’s (CFPB) funding structure is unconstitutional, and the 2017 Payday Lending Rule, which was a direct result of this unconstitutional funding mechanism, must be vacated.

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Wakefield & Associates Acquires Choice Recovery to Expand its Geographic Footprint

AURORA, Colo. -- Wakefield & Associates, an industry-leading collections and healthcare revenue cycle solutions company, today announces it has acquired the debt collection business of Choice Recovery, Inc., an Ohio-based nationally recognized collections provider.  The acquisition of Choice Recovery will further grow Wakefield’s geographical presence in the Great Lakes region and enhance its ability to provide a full suite of revenue cycle management services to a wide scope of healthcare industry clients.

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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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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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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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