Compliance with Reg F is Not the Same as Compliance With the FDCPA, Says Court

A District Court in New Jersey recently ruled that complying with Reg F does not necessarily equal compliance with the Fair Debt Collection Practices Act (FDCPA). Specifically, the NJ District Court held that although the date of the letter is not a requirement in the Model Validation Notice, failing to include a date in an initial demand that tracks the Model Validation Notice might violate the FDCPA.

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FCRA Claim for “Misleading” Double-Reporting of Debt by Original Creditor and Collection Agency Survives Motion to Dismiss

In Hansen v. Mountain America Federal Credit Union, the plaintiff became delinquent on a credit card account with her credit union. The credit union then assigned the debt to a third-party collection agency. Following the assignment, the collection agency opened its own tradeline for the debt, while the credit union also continued to report the debt. Although the credit union’s tradeline was updated to reflect that the account was “closed” and in collections, and the collection agency’s tradeline indicated that the credit union was the original creditor, both tradelines showed a balance, albeit for different amounts — $18,340 for the credit union and $20,875 for the collection agency.

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Delaware Enacts Personal Data Privacy Act

Delaware Gov. John Carney on Sept. 11 signed into law House Bill 154, the Delaware Personal Data Privacy Act.  This makes Delaware the 12th state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut,  Iowa, Indiana, Tennessee, Montana, Texas, and Oregon. The Act will go into effect Jan. 1, 2025.

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Retain Delivers Powerful Digital-first Engagement Enabling Clients to Recover $1 Billion

LENEXA, Kan. -- TrueML Products, a fintech company developing products that enable intelligent, digital communication, today announced that clients have used Retain, the company’s flagship product, to drive engagement since January with more than 1 million delinquent customers that enabled recovery of $375 million in past-due balances. Total dollars collected on the Retain product exceed $1 billion. Retain is a scalable, client-branded digital engagement tool powered by an optimization engine to automate clients’ digital communications and help boost customer engagement.

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4 Ways to Sharpen Your Outbound Calling Strategy

Economic conditions over the last three years have encouraged collections departments to focus on technology more than ever before. For many, this means integrating new technology and building strategies around them. However, a huge number of collections departments are trying to teach an old dog new tricks, and it’s working. What’s the old dog?

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Greenberg Advisors’ M&A Updates Are Now Available for ARM, RCM, and Healthcare IT Sectors

ROCKVILLE, Md. -- Greenberg Advisors (GA) announces the release of its M&A Updates for Accounts Receivable Management (ARM), Revenue Cycle Management (RCM), and Healthcare Information Technology (HCIT), analyzing the M&A and investment activity in the first half of 2023.

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Featured Resources and Webinars

from insideARM.com

» NAVIGATING COLLECTIONS LICENSING: How to Reduce Financial, Legal, and Regulatory Exposure

» Reduce Collection Call Costs with Voice AI: Compliant and Easy to Integrate

» A New Kind of Collections Strategy: Empowering Lenders Amid a Shifting Economic Landscape

» Open the Door to SMS Communication for Debt Collection

» The State of Customer Outreach: Top Ten Findings for Collections

» How to Connect with Today’s Digital Consumer

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