Late Fee Rule Halted by TX Court

Late on Friday, May 10, 2024, a District Court in Texas entered an order stopping the Consumer Financial Protection Bureau's (CFPB) Late Fee Rule (Rule), which would slash credit card late fees to $8.00, from going into effect on May 14, 2024. The Order says the injunction is warranted because of the CFPB's funding structure and because the injuries created by the Rule, if it were to go into effect tomorrow, could not be practicably measured.

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Predictive, Collaborative, and Intelligent Contact Data 

A precision data strategy can help your organization overcome consumer contact challenges using data you already have on hand. Watch this 60-minute webinar to gain insight into real results seen by organizations utilizing phone and email intelligence. The panelists discuss: 

• the evolution of digital collections, 
• how phone and email intelligence can help your organization, 
• what's on the regulatory horizon, and 
• how you can find out the quality of your data and use it to your advantage. 

Watch Replay Now. 

insideARM Weekly Recap- Week of May 6th, 2024

We at insideARM know how difficult it is to sift through every piece of news in the ARM industry to make sure you don’t miss anything significant. That is why we do it every week, so you don’t have to! The news from last week included another state passing a data privacy bill, an overview of the CFPB’s activity for the month of April, and the CFPB’s involvement in state legislatures regarding medical debt. Make your job a little easier, and keep reading for a synopsis of the articles you need to see and why.

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OneTouch Direct Launches OneTouch AIQ

TAMPA, Fla. -- OneTouch Direct, a global business process outsourcing and collections company, today introduced OneTouch AIQ, an AI driven omnichannel quality assurance solution. Designed to enhance and streamline oversight, OneTouch AIQ analyzes every facet of customer interactions in real-time, flagging compliance and performance issues while uncovering critical insights. From ensuring brand and product knowledge to safeguarding the clients’ brand reputation, OneTouch AIQ provides actionable recommendations to enhance agent training and elevate customer satisfaction.

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CFPB Backs Connecticut and California Bills to Prohibit Medical Debt Reporting

Recently, the Consumer Financial Protection Bureau (CFPB or Bureau) submitted letters to senators in Connecticut and California supporting their proposals to prohibit medical debt reporting.

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Phillips & Cohen Announces the Hiring of Brooke Teal, SVP Global Compliance and General Counsel

WILMINGTON, Del. -- Phillips & Cohen Associates, Ltd. (PCA), the global leader in deceased account care management and technology solutions, servicing clients in the United States, Canada, United Kingdom, Ireland, Australia, New Zealand, and Germany is pleased to announce the appointment of Brooke Teal as SVP, Global Compliance and General Counsel.

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CFPB Bites of the Month - April 2024 - Won't Get Fooled Again, CFPB

April was another month with no shortage of action from the CFPB. In this month's article, we share some of our top "bites" of the month so you can stay on top of recent developments.

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RA Compliance Corner: Internal Controls- When and How to Effectively Use Them

12 June 2024 at 02:00 p.m. ET

Though they may want to, compliance professionals can’t review every request or monitor everything that goes on in their organization. To effectively safeguard their organizations from risks, compliance professionals must establish a robust internal control system. 

Event Details »

Featured Resources and Webinars

from insideARM.com

» The New Reality of Collections Staffing

» How AI-powered Multichannel Outreach Is Transforming the Collections Industry

» Optimizing your recovery strategy with Collections Triggers℠

» Bad Debt is Rising

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