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Banking Groups Challenge CFPB’s RFI on Customer Service

Banking trade groups are challenging a request for information (RFI) issued by the Consumer Financial Protection Bureau (CFPB) regarding customer service at large financial institutions. In a joint letter dated August 22, the Bank Policy Institute, Consumer Bankers Association, and the American Bankers Association objected to the CFPB’s insinuation that big banks are providing a sub-par customer experience and challenged the CFPB’s authority to regulate customer service.

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Trisha Asgeirsson Joins Women in Consumer Finance to Drive Growth and Provide Mentorship

POTOMAC, Md. -- Women in Consumer Finance is delighted to share that, effective immediately, Trisha Asgeirsson will join us as co-Chair and Advisor to help shape and drive growth plans as well as provide mentorship for our group of outstanding women.

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Kenneth Peck Rejoins Asset Recovery Solutions

DES PLAINES, Ill. -- Asset Recovery Solutions, a nationally licensed Illinois-based provider of First Party, Third Party, BPO and MSA services welcomes Kenneth Peck back home.

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Should Your Company Just Stop Credit Reporting? [Video]

Recent actions by the CFPB – including the issuance of a $19 million penalty against a company for errors in credit reporting – substantially complicated and increased the risk for creditors and debt collectors furnishing consumer information to the credit reporting agencies.

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UDAAP Frenzy: The CFPB’s Focus on Data and Why it Matters to the ARM Industry

The CFPB’s recent announcements are clear: an organization that does not protect consumer data and use it fairly violates the Unfair and Deceptive Acts and Practices Act (UDAAP). It may not be so simple though. To survive the current regulatory environment, ARM entities should pay attention to the substance of each announcement and the method by which the CFPB is expanding UDAAP.

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5th Cir. Dismisses FDCPA Case on Standing Grounds in Class Cert. Appeal

The U.S. Court of Appeals for the Fifth Circuit recently reversed the class certification order of a trial court, finding sua sponte that the plaintiff lacked standing to bring a claim against a debt collection law firm under the federal Fair Debt Collection Practices Act (FDCPA).

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Overcoming Communication Barriers to Reach Your Accounts

14 September 2022 at 02:00 p.m.

In the seven-in-seven Regulation F era, every call counts. Transformation is needed in collection practices to become more precise on how to reach consumers – and precision does not mean making just one call a day.

What if you knew who to contact; what number to use and the best time to connect with consumers?  Phone Behavior Intelligence enables organizations to plan their outreach campaigns to connect with their customers by identifying the most active numbers to call and better align with the timeframes when individual consumers are using their phones.

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