How to Remediate Regulatory Exam Findings in Financial Services

Corrective actions are a common requirement following regulatory examination findings and enforcement actions (e.g., MRAs and consent orders), regardless of how proactive an organization may be. Therefore, you must use a systematic approach to provide evidence of successful risk remediation and effective controls. This article shows how to develop and execute remediation plans.

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Delinquency rates and charge-offs are rising. AI can help.

As delinquencies and charge-offs rise, offering consumers the option to communicate via their preferred channels - voice, email, chat, and text - is crucial. In this new white paper from Skit.ai, you'll learn:  

• What industry leaders who have been using Conversational AI are saying  
• What the latest regulatory updates mean for Conversational AI users  
• How AI can help you reduce delinquencies and charge-offs and collect faster  
• The benefits of adopting AI now vs. later  

Download now. 

Finvi Announces Partnership with TCN as Preferred Partner for Contact Center Services

BURLINGTON, Mass.-- Finvi, the leading provider of enterprise solutions that streamline and accelerate revenue recovery for clients across the accounts receivable management (ARM) industry and healthcare markets, today announced a new partnership with TCN, a leading provider of omnichannel contact center solutions, and Finvi’s preferred provider of contact center software, communications platform and associated software products. TCN and Finvi have established this partnership to deliver integrated Contact Center as a Service (CCaaS) across its client base.

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

12 June 2024 at 02:00 p.m.

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. 

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