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Numbers Don’t Lie: The ARM Industry Keeps the Economy Moving

In response to steady attacks from legislators, rule makers, and others, the ARM industry is getting increasingly vocal about its positive effects on consumers and the economy. Recently, Oregon considered legislation that would have made it more challenging to collect post-judgment. In response, ACA International (ACA) crunched the numbers; it demonstrated to Oregon lawmakers that the data showed the unintended negative economic consequences Oregonians would suffer should the proposed legislation become law.

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It’s time to consider a new kind of collections strategy. 

Collecting debt in today’s economic environment means meeting your borrowers where they are by preventing charge-offs, enhancing customer satisfaction, and driving long-term retention. Learn how data empowers lenders to do all of that and more.

 

Download your guide to a new kind of collections strategy here.

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insideARM is grateful to our 2024 Strategic Supporters:

NCB Crown Asset Management Spring Oaks Capital

Collection Bureau of America, Ltd., Adopts Skit.ai’s Voice AI Solution to Enhance Account Penetration and Customer Experience

NEW YORK, NY -- Skit.ai, the leading provider of conversational Voice AI solutions, announced today its partnership with Collection Bureau of America, Ltd., a California-based debt collection agency with a 60-year history in the accounts receivable management industry.  The deployment of Skit.ai’s solution enables the company to boost its account penetration, improve customer experience, and execute a scalable collection strategy.

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John McNeill Joins Spring Oaks Capital as Group’s Chief Financial Officer

CHESAPEAKE, Va. -- Spring Oaks Capital, LLC is pleased to announce the hiring of John McNeill as Chief Financial Officer. John will be based in Atlanta, Georgia and report directly to President & CEO Tim Stapleford.

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Washington Federal Court Holds “Vague” and “Conclusory” References to “Reasonable Procedures” Not Enough to Establish FDCPA’s Bona Fide Error Defense

In Gebreseralse v. Columbia Debt Recovery, LLC, the plaintiff, a tenant under a residential lease agreement, vacated the premises early due to concerns over the property’s condition. In response, the property management company engaged a collection agency to recover the remaining amounts claimed as due and owing under the lease.

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Phillips and Cohen Associates Spins Off Estate Registry, LLC

WILMINGTON, Del. -- After three years of investment and incubation, Phillips & Cohen Associates (PCA), the global leader in compassionate estate management and resolution, is spinning off The Estate Registry LLC.  As part of this organizational launch, The Estate Registry, designed to help people and their loved ones navigate their way through the estate planning and probate process via its LegacyNOW, NotifyALL and InheritNOW platforms, announces the following executive appointments with immediate effect:

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Texas Federal District Court Invalidates CFPB Exam Manual Changes Which Opined that Discrimination is a UDAAP Violation

As we predicted long ago, on Friday, September 8, 2023, the Federal District Court for the Eastern District of Texas vacated the changes made in March 2022 to the CFPB’s Exam Manual. On that date, the CFPB purported to use its authority to prohibit unfair, deceptive, or abusive acts or practices (UDAAPs) to target discriminatory conduct, even where fair lending laws may not apply.

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How to Apply Strategic Discipline to Your Collections Strategy

20 September 2023 at 02:00 p.m.

Calls. Texts. Letters. Conversational AI. Time. Channel. Preference.


It’s tempting to throw any combination of approaches to collections strategy together to see what sticks. But if you’re not disciplined in your organization’s approach, you’re leaving money on the table.

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