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CRC to NY DFS: Proposed Rules Harm Consumers; Conflict with Existing Law

The New York Department of Financial Services (NY DFS) has continued its years-long process to update its debt collection regulations. According to the Consumer Relations Consortium (CRC), however, the current version of the proposal conflicts with existing law, oversimplifies the statute of limitations, and harms consumers by depriving them of their preferred communication channel and prohibiting the use of the charge-off date on certain types of accounts.

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How often do you hear about what's actually happening in compliance around the industry? 

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. You don't have to wait until the next conference. Research Assistant members get the critical compliance connections, feedback, direction, and trends they need every week - and you can, too. 


Find out how.

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Florida Federal Court Emphasizes Legal Disputes Do Not Give Rise to a Private Right of Action Against Furnishers

The Middle District of Florida rounded out 2022 by ruling in conformance with Eleventh Circuit precedent that plaintiffs must have a factual, rather than legal, dispute to bring suit against a credit furnisher under §1681s-2b of the Fair Credit Reporting Act (FCRA).

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ConServe Named as an APEX Award Winner for Workplace Development Programs

ROCHESTER, N.Y. -- Continental Service Group, Inc., d/b/a ConServe, announces that they have once again earned a spot on Training magazine’s, 2023 Training APEX Awards.  The Training APEX Awards ranking is determined by assessing a range of qualitative and quantitative factors, including financial investment in employee development, the scope of development programs, how closely such development efforts are linked to business goals and objectives, and their effectiveness in terms of business impact.

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Coast Professional, Inc. Announces Promotion of Samuel A. Thelen as Vice President of Information Technology

GENESEO, N.Y. -- Coast Professional, Inc. (Coast) is excited to announce the promotion of Mr. Samuel A. Thelen to Vice President of Information Technology. In his new role, Mr. Thelen will be responsible for guided implementation of company-wide enterprise security strategy for network and hardware, disaster recovery, data protection, and endpoint protection. His experience and deep understanding of industry best practices will enable him to identify, recommend, develop, implement, and support new processes, tools, and solutions to achieve better business results.

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New CFPB Report and Blog Post Look at Third-Party Debt Collections Tradeline Reporting and Medical Debt Furnishing

The CFPB issued a new report, “Market Snapshot: An Update on Third-Party Debt Collections Tradelines Reporting,” that looks at trends in credit reporting of debt in collections from 2018 to 2022.  It also published a new blog post, “Debt collectors re-evaluate medical debt furnishing in light of data integrity issues,” that looks at factors that create challenges for medical collections reporting.

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Coast Professional, Inc. Announces Promotion of William Washburn as Vice President of Operations

GENESEO, N.Y. -- Coast Professional, Inc. (Coast) is pleased to announce the promotion of Mr. William Washburn to Vice President of Operations. As Vice President of Operations, Mr. Washburn will be responsible for managing Coast's collection departments across all locations and overseeing operational activities of the company in accordance with company policies, goals, and objectives. Mr. Washburn is an experienced leader who will manage the operations of the company’s large collection contracts, including achieving performance targets, identifying areas for process improvement, and team performance.  He will oversee approximately 200 operational staff and five directors.

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Work Smarter Not Harder - Streamline Your Audit Process

28 February 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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