CFPB vs. PRA-Top 3 Takeaways and PRA’s Response

Last week, the CFPB created a stir when it announced a Consent Order (Order) with Portfolio Recovery Associates (PRA), one of the nation's largest debt collectors and debt buyers. The 39-page Order is comprehensive. It imposes collection activity requirements not found in the Fair Debt Collection Practices Act (FDCPA) and litigation requirements typically left up to state law. It also provides insight into the CFPB’s mindset regarding collection activity, credit reporting, and what we might see proposed as rulemaking.

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Bill Gosling Outsourcing Partners with Rahab's Daughters to Free Women and Children From Human Trafficking

RICHMOND, Va. -- Bill Gosling Outsourcing recently partnered with Rahab’s Daughters and employed 100+ call center agents to provide relief to human trafficking victims in the Ontario region. Working alongside the Mississauga Nerve Centre, Bill Gosling agents in Canada (London and Newmarket) and Costa Rica (San Jose) provided 900+ hours of support, answering a 24/7 helpline for victims/informants and coordinating with local shelters to find beds for rescued victims. Thirty-five human beings were rescued from trafficking via these efforts.

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Second Circuit rules CFPB’s funding does not violate Appropriations Clause

A three-judge panel of the U.S. Court of Appeals for the Second Circuit has unanimously ruled that the CFPB’s funding structure does not violate the Appropriations Clause of the U.S. Constitution.  In its decision, the panel expressly declined to follow the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB that reached the opposite conclusion.  Last month, the U.S. Supreme Court granted the CFPB’s certiorari petition seeking review of the Fifth Circuit decision and agreed to hear the case next Term.

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Washington State Collection Agency Board is Recruiting for Two Vacant Positions, a Licensee Member, and a Public Member.

OLYMPIA, Wash.-- The Washington State Collection Agency Board is seeking to fill vacant positions.

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Double Reporting Leads to Denial of Summary Judgment in Illinois FCRA Case

An Illinois federal district court recently denied a creditor-defendant’s motion for summary judgment in a Fair Credit Reporting Act (FCRA) case brought by a consumer who questioned why his debt was being reported twice — as both a tradeline with the original creditor and as a tradeline with a third-party collection agency. The court’s opinion in Kyle Fickel vs. Clearwater Credit Union et al. is a warning about the credit reporting issues that can arise when lenders refer or assign debts to collections.

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Superlative RM Earns CAM Agency of the Year Award for Third Consecutive Year

PHOENIX, Ariz. -- Superlative RM is proud to announce that they have been named Agency of the Year by Crown Asset Management for the third consecutive year. As a small business, the team has worked hard to build a top-tier technology-driven operation and to reach the highest standards of quality for the consumers they serve on behalf of major reputable clients such as Crown Asset Management (CAM).

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TREND ANALYSIS: Is the Economic Alarm Bell Ringing?

5 April 2023 at 02:00 p.m.

Consumers have been contending with high interest rates and inflation for about two years now, but delinquency trends have been steady. Now, they’re edging up past pre-pandemic levels. Is the economic alarm bell ringing? 

Join host Erin Kerr and panelists Andrew Domino (COO and Managing Partner, Bridgeforce), Aleks Whitchurch (CEO at Quanta Credit Services), and Russ Kotlicky (Senior Director, Ops Delivery at Auriemma Roundtables) as they discuss the macroeconomic trends that affect collections & recovery professionals, and how to use those trends to prepare for what might be an economic crisis.

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