Answers to FAQs - CFPB Funding Case

By now, most of our readers have heard that on May 16, 2024, the U.S. Supreme Court (SCOTUS) ruled that the funding structure of the Consumer Financial Protection Bureau (CFPB) does not violate the Constitution. In a prepared statement released on May 17, 2024, Director Chopra laid out what he thinks the SCOTUS opinion means for the CFPB and its focus, but what does this really mean for your organization? Will it impact your day-to-day business? What should ARM industry participants look out for in the future? In addition to covering Director Chopra's plans, we’ll answer those and some other Frequently Asked Questions.

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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 13th, 2024

The ARM industry is never short on surprises. This past week was a perfect example of that and shows how difficult it can be to keep up with the big news and changes week in and week out. That’s why we at insideARM aim to bring you only the biggest stories that we feel you need to know about. Last week we brought you breaking news on the CFPB’s Late Fee Rule and an important Supreme Court ruling on the CFPB's funding structre, as well as advice on how to handle the aftermath of regulatory examinations, and a surprising development out California. Read on for a breakdown of last week's news and why we think you need to know about it!

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RNN Group Appoints Proven Industry Leader Autumn V. Bloom as Vice President of Operations

ATLANTA, Ga. -- RNN Group, a leading provider of advanced data solutions within the receivables management industry, today announced the appointment of Autumn V. Bloom as Vice President of Operations. Ms. Bloom brings over two decades of strategic leadership to the role, with a proven record of operational excellence, innovation, and dedication to compliance.

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Breaking: SCOTUS says CFPB Funding is Constitutional; CFPB Provides Comments

The Supreme Court has spoken: the Consumer Financial Protection Bureau's (CFPB) funding mechanism is constitutional. In its long-awaited ruling in the case of Community Financial Services Association of America Ltd. v. CFPB, the Court held that the CFPB's funding structure satisfies the Appropriations Clause of the United States Constitution. The CFPB provided its comments via a press release shortly after the Supreme Court published its opinion.

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VeriFacts Sponsors 4th Annual Run For Brain Health Event Supporting National Alliance on Mental Illness

STERLING, Ill. -- VeriFacts will once again be sponsoring the Run for Brain Health 5k in 2024. As the 4th annual event, VeriFacts will not only be a financial sponsor but will also be represented by its Director of Business Development, Traci Oltmans, at the race on Saturday, May 18th.

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California DFPI’s Proposed EWA Legislation Rejected by Office of Administrative Law

As discussed here, in March 2023, the California Department of Financial Protection and Innovation (DFPI) proposed new regulations under the California Financing Law that would interpret the definition of “loan” to include “income-based advances” or earned wage access (EWA) products, except those offered by employers. The proposal also sought to require providers of such products to register with the state, and imposed requirements on debt settlement companies and education financing providers.

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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. 

Event Details »

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