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insideARM Weekly Recap – Week of July 8th, 2024

insideARM is here to help you keep up with the fast-paced ARM industry. This often requires keeping a finger on the pulse of the regulatory bodies, providing advice for more efficient collections, and reporting on state-level legislation. Last week was a perfect example of this as we brought you the most recent focus from the CFPB, guidance for an effective settlement program, and a recent amendment to data breach notification laws in Pennsylvania. Keep reading for the highlights from these stories and why our editorial team thinks they are important!

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How Lenders Are Increasing Agent Workload – Without Burnout: Digital Strategies and Agent Stability in Collections  

Despite rising caseloads and communication demands, agent turnover has remained steady in recent years for first-party collections shops. Data from Auriemma Roundtables suggests e-communications and workforce management changes could help explain this decoupling between workload and burnout. In this study, you’ll see how lenders used digital communications and innovative workforce strategies to enhance efficiency and navigate the evolving collections landscape.  

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Pennsylvania Amends Data Breach Notification Law

Pennsylvania Gov. Josh Shapiro recently approved Senate Bill 824, which amends Pennsylvania’s data breach notification law, 73 Pa. Stat. Ann. § 2301, et seq.

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Build a Collections Repayment Program Strategy to Break Free from Broken Promises

Repayment programs are crucial in collections, but many fail. Here are the essential elements for a successful repayment program strategy and tips to enhance collections conversations to ensure the right program is chosen and completed.

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CFPB Releases Supervisory Highlights Focusing on Debt Collection and Loan Servicing Practices

On July 2, the Consumer Financial Protection Bureau (CFPB or Bureau) published the summer edition of its Supervisory Highlights, focusing on examinations of auto and student loan servicing companies and debt collectors that were completed between April 1, 2023 and December 31, 2023. The report also highlights consumer complaints about medical payment products and identifies concerns with financial institutions freezing deposit accounts.

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American Association of Healthcare Administrative Management (AAHAM) Brings Legislative Day Home to the Districts

ST. PAUL, Minn. -- In a bold move to refocus efforts on the grassroots level, the American Association of Healthcare Administrative Management (AAHAM) has redirected its 19th annual Legislative Day from Washington, D.C. to local districts and states. This year’s theme, “Bringing the Message Home,” emphasizes the critical role healthcare providers play in our communities and the importance of addressing healthcare issues at the local level.

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insideARM Weekly Recap – Week of July 1st, 2024

One of insideARM’s top priorities is making sure to inform but not overwhelm. That is why our editorial team only brings you the 3 biggest stories each week. To start the month of July we had a landmark Supreme Court decision, some important things to consider when engaging with consumers, and a new data privacy law that leaves a lot to be desired. Read on below for a rundown of those articles and why we felt you needed to see them!

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Legal Hot Topics from the CRC Legal Advisory Board

18 July 2024 at 02:00 p.m.

The legal landscape in the ARM industry is constantly changing. It can be difficult to wade through it all and determine what is important and what steps need to be taken to stay ahead of the curve. 

Event Details »