Seventh Circuit Rules $3.95 in Postage Spent by Plaintiff to Respond to Second Validation Notice Sufficient to Establish FDCPA Standing

The U.S. Court of Appeals for the Seventh Circuit has ruled that a plaintiff in a putative class action had standing to assert FDCPA claims against the purchaser of her debt and the purchaser’s servicer based on the $3.95 she paid in postage to respond to a second validation letter after she had already responded to the first validation notice.

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Collection Triggers: Debt Collectors’ Best Kept Secret [sponsored]

Optimizing your collection strategy is always critical, but getting things right can be especially pressing when faced with economic uncertainty and an increase in delinquencies. A data-driven prioritization strategy can help improve recovery rates while minimizing lost time and costs.

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OneTouch Direct Celebrates Employee Appreciation Day with a Two Car Giveaway

TAMPA, Fla -- OneTouch Direct, a global business process outsourcing company, during its celebration of National Employee Appreciation Day, thanked its valued team members by hosting a fun filled day of special activities, featuring classic arcade games, catered food, employee recognition awards, and multi-level prizes. The highlight of the day, of the year, was the company’s NEW car giveaway. Two of OneTouch Direct’s top employees each won a brand-new car; after winning, they went to the dealer and picked out their car with all expenses paid by OneTouch Direct. Additionally, multiple eligible employees across our US centers were awarded their choice of a large screen TV, Grill, Kitchen Aid Stand Mixer, Laptop, and/or an iPhone with accessories.

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FTC Submits Annual Enforcement Report to CFPB

On June 7, the FTC announced that it submitted its 2022 Annual Financial Acts Enforcement Report to the CFPB. The report covers FTC enforcement activities regarding the Truth in Lending Act (TILA), the Consumer Leasing Act (CLA), and the Electronic Fund Transfer Act (EFTA). Highlights of the enforcement matters covered in the report include, among other things:

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A Closer Look at the Gramm-Leach-Bliley Act (GLBA): Updates to the Safeguards Rule

Protecting personal and financial information is critical in today’s digital age. Where data has its own intrinsic value and where data breaches and cyberattacks are a risk for every business, the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA) provides financial institutions, including those in the accounts receivable management industry, with guidance on how to safeguard customer information.

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Revealing the Blind Spots: A Critical Review of the CFPB’s Issue Spotlight on Chatbots in Consumer Finance

As the evolution of Artificial Intelligence (“AI”) dominates headlines throughout the globe, financial institutions have been paying attention. Not surprisingly, so has the Consumer Financial Protection Bureau (“CFPB” or “Bureau”).  Just as financial sector companies feverishly ramp up their use of AI to complete, augment, and personalize customer service interactions, the CFPB is pumping the proverbial brakes.

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Work Smarter, Not Harder - Client RFIs: Tell Your Story, Streamline, Manage, and Avoid Repetition

TODAY! June 28, 2023 at 02:00 p.m.

Responding to RFIs is a must in the ARM industry today, but RFIs take time. They disrupt daily workflow and cause other important tasks to be delayed. There is no avoiding RFIs, but how can you reduce the time you spend without sacrificing the quality of your responses?

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