California DFPI’s Proposed EWA Legislation Rejected by Office of Administrative Law

As discussed here, in March 2023, the California Department of Financial Protection and Innovation (DFPI) proposed new regulations under the California Financing Law that would interpret the definition of “loan” to include “income-based advances” or earned wage access (EWA) products, except those offered by employers. The proposal also sought to require providers of such products to register with the state, and imposed requirements on debt settlement companies and education financing providers.

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[Webinar] Internal Controls: When and How to Effectively Use Them  

Implementing robust Internal Controls doesn’t need to be overwhelming. Join us on June 12 at 2PM ET for RA Compliance Corner: Internal Controls- When and How to Effectively Use Them, where we'll equip companies of all sizes with the fundamental knowledge needed to construct robust controls. By establishing proactive measures to identify risks, compliance professionals can strategically allocate their efforts towards addressing the most critical areas impacting their businesses. Register Now. 

P&B Capital Group Extends Support to P.U.N.T. Pediatric Cancer Collaborative and Zach Liberatore Foundation

WEST SENECA, N.Y. -- P&B Capital Group recently expanded its community involvement initiatives to support two significant foundations dedicated to enhancing community well-being. With a keen focus on pediatric cancer support and mental health advocacy, the company's donations to the P.U.N.T. Pediatric Cancer Collaborative and the Zach Liberatore Foundation underscore its commitment to making a tangible difference in the lives of individuals facing formidable challenges.

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How to Remediate Regulatory Exam Findings in Financial Services

Corrective actions are a common requirement following regulatory examination findings and enforcement actions (e.g., MRAs and consent orders), regardless of how proactive an organization may be. Therefore, you must use a systematic approach to provide evidence of successful risk remediation and effective controls. This article shows how to develop and execute remediation plans.

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Finvi Announces Partnership with TCN as Preferred Partner for Contact Center Services

BURLINGTON, Mass.-- Finvi, the leading provider of enterprise solutions that streamline and accelerate revenue recovery for clients across the accounts receivable management (ARM) industry and healthcare markets, today announced a new partnership with TCN, a leading provider of omnichannel contact center solutions, and Finvi’s preferred provider of contact center software, communications platform and associated software products. TCN and Finvi have established this partnership to deliver integrated Contact Center as a Service (CCaaS) across its client base.

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Late Fee Rule Halted by TX Court

Late on Friday, May 10, 2024, a District Court in Texas entered an order stopping the Consumer Financial Protection Bureau's (CFPB) Late Fee Rule (Rule), which would slash credit card late fees to $8.00, from going into effect on May 14, 2024. The Order says the injunction is warranted because of the CFPB's funding structure and because the injuries created by the Rule, if it were to go into effect tomorrow, could not be practicably measured.

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insideARM Weekly Recap- Week of May 6th, 2024

We at insideARM know how difficult it is to sift through every piece of news in the ARM industry to make sure you don’t miss anything significant. That is why we do it every week, so you don’t have to! The news from last week included another state passing a data privacy bill, an overview of the CFPB’s activity for the month of April, and the CFPB’s involvement in state legislatures regarding medical debt. Make your job a little easier, and keep reading for a synopsis of the articles you need to see and why.

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RA Compliance Corner: Internal Controls- When and How to Effectively Use Them

12 June 2024 at 02:00 p.m.

Though they may want to, compliance professionals can’t review every request or monitor everything that goes on in their organization. To effectively safeguard their organizations from risks, compliance professionals must establish a robust internal control system. 

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