Debt Collectors Sued for Not Assessing Interest . . . Seriously?!?

The issue of debt collectors assessing interest on accounts was contentious and extensively litigated over the past decade.  Courts, regulators and consumer advocates are uniformly opposed to debt collectors assessing interest except in specific circumstances. The Second Circuit Court of Appeals decision in Avila in 2016 further placed a requirement on debt collectors to disclose in a validation notice when interest is accruing on an account, similar to the requirements in the Seventh Circuit. 

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New Webinar: An Insider's Guide to the CFPB Complaint Portal

March 16 at 2pm ET - Find out what the CFPB's new complaint portal means for you and how you can avoid new CFPB-related risk at insideARM's upcoming webinar.

This webinar is free to members of insideARM's Compliance Professionals Forum (who also get the resources they need to benchmark their compliance success against emerging industry best practices). Find out more about the Compliance Professionals Forum, and sign up, right here.

News and Opinion

from insideARM.com

» How Do You Measure Consumer Engagement? (sponsored)

» Encore Capital Announces Q4 and Full Year 2016 Results, Comments on Pricing, Supply, and TCPA

» Debt Collectors Sued for Not Assessing Interest . . . Seriously?!?

» PRAA Reports 4th Quarter Loss

» ACA International Publishes Dispute of CFPB Consumer Survey

» Collection Letter Containing Check Box to Dispute Debt Created Potential FDCPA Claims, Federal Court Rules

» Reimbursement Strategies in an Environment of Growing Out-of-Pocket Costs and an Expanding Self-Pay Population

» Wells Fargo to Settle Two Separate TCPA Class Actions Totaling Over $17.7M

Encore Capital Announces Q4 and Full Year 2016 Results, Comments on Pricing, Supply, and TCPA

Last Thursday Encore Capital Group (ECPG), reported its financial results for the fourth quarter and full year ending December 31, 2016, announcing net income of $22.8 million for the quarter, after reporting a loss in the same period a year earlier. For the year, the company reported profit of $76.6 million. ECPG is an international specialty finance company with operations in eight countries that provides debt recovery solutions for consumers across a broad range of assets.

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insideARM Jobs

» Out-Scoured Collections Control Manager - Troy Capital, LLC - Las Vegas, NV

» Director of Business Development - Higher Education - Mid-Atlantic - ConServe - Charlotte, NC

» Collections Specialist - PlusFour, Inc. - Las Vegas, NV

» Director of Human Resources - Absolute Resolutions Corporation - San Diego, CA

» Business Development Executive - Medical Data Systems, Inc - IL

All Jobs

A Candid Conversation about Compliance - Buffalo, NY

8 May 2017 at 10:00 a.m.

Join the Compliance Professionals Forum for a free meeting* where compliance professionals of all levels share their perspectives, accomplishments, and challenges. Problem-solve with local compliance professionals and walk away with strategies that you can implement right away. 

A special thank you to TransUnion for generously sponsoring the meeting.

Registration is now available.

* There is a $25 registration fee that is waived for Compliance Professionals Forum members.

Event Details »

Free Reports and Webinars

from insideARM.com

» Complete Guide to TCPA and a Compliance Checklist

» IMPROVING COLLECTIONS OPERATIONS with Data-Driven Portfolio Scoring

» What Financial Services Can Teach Hospitals About Collections

» 2015 Cost of Compliance Survey Report

» When David Meets Goliath: How Agencies of All Sizes Use Their Tech to Compete With Larger Market Participants

» HIPAA Critical: Are You Ready for a HIPAA Audit?

View all Free Reports and Webinars