Latest CFPB Consent Order Changes the Rules for Collection Law Firms

The Consumer Financial Protection Bureau (CFPB or Bureau) issued a significant Consent Order against an Oklahoma debt collection law firm yesterday. This is the third such Consent Order alleging that a law firm was not “meaningfully involved” or did not sufficiently review accounts prior to and during the collections process.

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New: Compliance Professionals Forum (CPF) releases report on collector incentives

The December Benchmark Report from CPF (out now!) details how industry firms handle employee incentives. The January Benchmark Report (out later this month) covers call monitoring. Benchmark reports are for members only. Get critical intel on emerging industry practices, avoid exam surprises and give yourself the best information for your best decisions - join CPF today.

CPF members: get the employee incentives report right here.

News and Opinion

from insideARM.com

» How Much is Your Customer Experience Worth? (sponsored)

» FTC Charges Joel Tucker in Fake Debt Sales Scheme; Brother Scott Tucker Ordered to Pay $1.3B in Separate 2016 Case

» Latest CFPB Consent Order Changes the Rules for Collection Law Firms

» HS Financial Group Becomes Certified Debt Buyer/ Third Party Collection Agency by DBA International

» Senators Call on Trump to Fire Cordray

» Judge Denies “Nomorobo” Operator’s Request to Alter Her Prior Opinion Dismissing TCPA Case

» FDCPA Case Law Review for November 2016

» Collection Agency Wins FDCPA Case Against Plaintiff Without an Account

Judge Denies “Nomorobo” Operator’s Request to Alter Her Prior Opinion Dismissing TCPA Case

On January 5, 2017 a federal judge in Illinois issued another Opinion and Order in a case insideARM initially wrote about on August 17, 2016. The case is Telephone Science Corporation (TSC) v. Asset Recovery Solutions, Case No. 15-CV-5182 (N.D. Ill. Aug. 8, 2016). The Plaintiff in the case, TSC, is the operator of a service called “Nomorobo.” The website for the Nomorobo service is www.nomorobo.com.

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» IMPROVING COLLECTIONS OPERATIONS with Data-Driven Portfolio Scoring

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» 2015 Cost of Compliance Survey Report

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