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CFPB Signals Increased Regulation of Buy Now, Pay Later Products

After analyzing public feedback, as well as information gathered from the five providers of Buy Now, Pay Later (BNPL) products, the Consumer Financial Protection Bureau (CFPB) issued a report, making it clear that the CFPB plans to increase regulation of the BNPL industry.

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Why SMS, Email, and Letters Should be the Cornerstone of Your Post-Regulation F Strategy

Thanks to Reg F, companies in the ARM space have to deal with even more onerous restrictions on how, when and how often they can communicate with consumers. These new rules, layered on top of previous rules, continue to chip away at the traditional mainstay of collections: phone calls. In this new whitepaper from Nordis Technologies, find out why collectors should focus on print and digital communications as key pillars of a post-Reg F strategy. Plus, learn how new, cloud-based, omnichannel tools for SMS, email, and letters can help collectors respond quickly to clients, be much more responsive to compliance needs, and improve consumer contact rates.


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Halsted Financial Services Partners with Prodigal to Elevate Customer Experiences

CHICAGO, Ill. and MOUNTAIN VIEW, Calilf.-- Halsted Financial Services places a high value on conversations its agents have with consumers. To maximize that value, Halsted has partnered with Prodigal to utilize Prodigal’s ProNotes solution to humanize each conversation and provide additional context for its agents both before and during calls.

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IC System Breaks a Record at Charity Golf Tournament

St. Paul, Minn. -- IC System hosted its annual Charity Golf Tournament at Tanners Brook Golf Course in Forest Lake, Minnesota, on Friday, July 15. Now in its 24th year, the event brought IC System employees, vendors, and business associates together for a day of course games and friendly competition for a good cause. This year, the tournament broke its record for charitable donations.

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How Integrated Resourcing Addresses Increased Costs and Declining Revenues

What is Integrated Resourcing?

The debt collection industry is facing major obstacles to profitability, including a decline in revenues due to competitive contingency rates and increased costs from payroll and compliance regulations. Revenue is a huge concern with a decrease in commission and recovery rates.  The 2014 ACA Benchmarking Survey shows that the median commission rate stood at 25.6% while the 2017 Ernst & Young report states that commission fees dropped from 18.1% to 13.9% between 2013 and 2016, a decline of more than 12% in a short period of time [1].

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Republican Senators Send Letter to Director Chopra Calling for Change in CFPB Tactics

A group of 12 Republican Senators have sent a letter to CFPB Director Rohit Chopra in which they urge him “to reverse course and stop using inappropriate tactics to harm financial institutions’ reputations and customer relationships in order to advance your liberal policy preferences.”

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Women in Consumer Finance Partners with Spring Oaks Capital to Provide The Magic of Connection

POTOMAC, Md. -- Women in Consumer Finance (WCF) recently renewed its partnership with industry innovator Spring Oaks Capital to support The Magic of Connection for attendees at its annual unique in-person professional development experience. This year’s event will be held December 5-7, 2022, in Palm Springs, California.

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WCF 2022

5 December 2022 at 08:00 a.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2022, December 5-7, 2022 at the Renaissance Esmeralda in Palm Springs. 

Registration is now open!

Event Details »