Double Reporting Leads to Denial of Summary Judgment in Illinois FCRA Case

An Illinois federal district court recently denied a creditor-defendant’s motion for summary judgment in a Fair Credit Reporting Act (FCRA) case brought by a consumer who questioned why his debt was being reported twice — as both a tradeline with the original creditor and as a tradeline with a third-party collection agency. The court’s opinion in Kyle Fickel vs. Clearwater Credit Union et al. is a warning about the credit reporting issues that can arise when lenders refer or assign debts to collections.

Read the Whole Story »

Superlative RM Earns CAM Agency of the Year Award for Third Consecutive Year

PHOENIX, Ariz. -- Superlative RM is proud to announce that they have been named Agency of the Year by Crown Asset Management for the third consecutive year. As a small business, the team has worked hard to build a top-tier technology-driven operation and to reach the highest standards of quality for the consumers they serve on behalf of major reputable clients such as Crown Asset Management (CAM).

Read the Whole Story »

New York DFS Tables Latest Version of Its Proposed Debt Collection Rule

March 15 was the deadline for the New York State Department of Financial Services to publish its proposed amendments to its debt collection rule. It didn’t and so they have expired. While the latest version of the proposed amendments has expired, you can bet on DFS releasing an updated version in the coming months.

Read the Whole Story »

Revolutionizing Collections: Embracing Conversational Voice AI and Its Impact on the Future (sponsored)

Incorporating a new AI-powered technology can cause apprehension, and understandably so. Unanswered questions about deployment challenges, efficacy, and compliance can be discouraging for collection agencies. But over the years, Voice AI has become easy to deploy, requiring no tech personnel from collection agencies, and can be deployed within a day or a week. With the economic downturn unfolding and intensifying industry consolidation, there is a need for urgent action; now is the time for collection agencies to embrace this cutting-edge technology.

Read the Whole Story »

Slovin Partner Brad Council Installs Solar Panels In Honduras

CINCINNATI, OH -- Slovin and Associates, a creditor’s rights law firm in Ohio, Kentucky, and Indiana, has a long history of community involvement. Partners Randy Slovin and Brad Council have spent decades in the community helping those in need. This past November, Mr. Council and his wife took a trip to the Olancho region of Honduras where they helped install solar panels at three different remote schools in just a week.

Read the Whole Story »

CFPB Supervisory Highlights Special Edition Looks at “Junk Fees” Charged in Connection With Deposits, Auto Servicing, Mortgage Servicing, Payday and Small-Dollar Lending, and Student Loan Servicing

Continuing its (and the White House’s) “junk fees” rhetoric, on March 8, 2023, the CFPB released a new issue of Supervisory Highlights that carries the title “Junk Fees Special Edition.”  The report discusses the Bureau’s examinations involving fees in the areas of deposits, auto servicing, mortgage servicing, payday and small-dollar lending, and student loan servicing that were completed between July 1, 2022 and February 1, 2023.

Read the Whole Story »

TREND ANALYSIS: Is the Economic Alarm Bell Ringing?

5 April 2023 at 02:00 p.m.

Consumers have been contending with high interest rates and inflation for about two years now, but delinquency trends have been steady. Now, they’re edging up past pre-pandemic levels. Is the economic alarm bell ringing? 

Join host Erin Kerr and panelists Andrew Domino (COO and Managing Partner, Bridgeforce), Aleks Whitchurch (CEO at Quanta Credit Services), and Russ Kotlicky (Senior Director, Ops Delivery at Auriemma Roundtables) as they discuss the macroeconomic trends that affect collections & recovery professionals, and how to use those trends to prepare for what might be an economic crisis.

Event Details »

Featured Resources and Webinars

from insideARM.com

» Voice AI Is Becoming the ARM Industry Standard: Learn Why Collection Agencies Must Watch Out

» Case Central Dispute Management Demo

» Seven “MUST-HAVE” Collection Software Capabilities for 2023

» Charting the Course and Steering Toward Success: The Collections Industry in 2022

» How to Launch an Omnichannel Collection Strategy

» Breaking Down the CFPB's Opinion on Convenience Fees

View all Free Reports and Webinars