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What If You're Not As Automated As You Think You Are?

It is mid-July as I write this. There are four months until Regulation F is implemented. (I know some of you may think, "But the extension!" However, the effective date on the CFPB's page remains 11/30, so we're going to stick with that.)

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Member Questions: Returned Mail

A member asks insideARM’s Research Assistant:


Consumer has mail returned by marking it themselves “return to sender.” This is a verified address. How will that work?


See the answers to this, and other member questions -- plus get the chance to submit your own questions -- only at Research Assistant. Learn more.
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insideARM is grateful to our 2021 Strategic Supporters:

NCB MRS Crown Asset Management Spring Oaks Capital TransUnion

CA DFPI: Debt Collector License Application Due by Dec. 31, 2021

SACRAMENTO, Calif. --The Debt Collector Licensing Act (Fin. Code § 100000 et seq.) (DCLA), which takes effect Jan. 1, 2022, requires any person engaging in the business of debt collection in California to be licensed by the Department of Financial Protection and Innovation (DFPI). (Fin. Code § 100001(a)). If you are a debt collector collecting debt in the state of California you must submit an application on or before Friday, Dec. 31, 2021. Once you have submitted your application, you may continue operating as a debt collector in California while your application is pending. If you submit an application after this date, you will be required to wait for the issuance of a license before you can operate in California. (Fin. Code § 100000.5(c)).

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Think Differently: How (and why) You Should Integrate Debt Sales into your Strategy

iA Strategy & Tech chair Erin Kerr talks to Keith Walch from Spring Oaks Capital on the foundations of a strong debt sales strategy.

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Hunstein Stay Denied!: Court Refuses to Stay Hunstein Case Pending En Banc Determination–Withholding of Mandate Immaterial

So a number of folks have recently discussed the fact that the mandate in Hunstein was withheld, as if it was some sort of indicator that the Eleventh Circuit was likely to grant en banc review. While I am on record predicting that the Eleventh Circuit WILL grant a rehearing, the fact that the mandate was withheld does not necessarily portend that result. Indeed, the withholding of the mandate is more-or-less automatic under the rules of appellate procedure as I read them. So I didn’t even mention the issue on TCPAWorld since, you know, it didn’t seem to matter.

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CFPB Fines GreenSky $2.5 Million and Requires Cancellation of $9 Million in Loans

On July 12, 2021, the CFPB announced that it issued a consent order against GreenSky, LLC (GreenSky) for enabling contractors and other merchants to take out loans on behalf of thousands of consumers who did not request or authorize them. Per the consent order, Greensky, which is a non-bank institution located in Atlanta, GA, will be required to pay a $2.5 million civil penalty and refund or cancel up to $9 million in loans.

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Financial and Compliance Professional Stephanie Schenking Joins Crown Asset Management Team

DULUTH, Ga. -- Crown Asset Management, LLC (CAM), a receivables management and specialty finance firm, proudly announces the addition of Stephanie Schenking as CAM’s Agency Relationship Manager. Ms. Schenking has over 20 years of experience in the financial services industry. As Agency Relationship Manager, she will serve as a liaison between CAM and network collection agencies, oversee agency adherence to CAM policy, and manage agency performance.

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Women in Consumer Finance 2021

6 December 2021 at 10:00 a.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2021 – a virtual and in-person conference and networking experience for ALL women in consumer finance.

Event Details »