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How to Build Trusted Creditor-Collector Relationships (and Better Market Your Agency)

When the CFPB introduced Reg F in late 2020, a lot of attention focused on the change in collector-debtor communication practices. A less discussed, but equally significant change is the increased oversight responsibilities creditors have when outsourcing collections. With the CFPB’s announcement about extending its supervisory authority to non-bank financial institutions, vendor management and auditing is increasingly becoming a priority for originators and lenders. As a result, for collection agencies, robust compliance management and reporting capabilities now represent a competitive advantage when marketing their services to creditors.

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Having a strong compliance team isn't enough. 

If you don't know what's actually going on in compliance across the industry - with lawsuit trends, with auditor demands, or with client expectations - and if you don't know how other sharp compliance professionals are handling similar challenges, your CMS will suffer. Get the critical compliance connections, feedback, direction, and trends you need with Research Assistant (from insideARM). 


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Slovin Supports Dozens of Local Artists With New Office Art

CINCINNATI, OH - Slovin & Associates, a Cincinnati-based law firm that provides clients with the personal, hands-on accessibility of a small law firm combined with the deep experience of industry veterans, is proud to support dozens of local artists through its new office.

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Colorado Establishes Medical Debt Collection Requirements

On May 4, the Colorado governor signed SB 23-093 to cap the interest rate on medical debt at three percent per year. The Act outlines numerous provisions, including that entities collecting on a medical debt must provide a consumer with a written copy of a payment plan within seven days for medical debt that is payable in four or more installments.

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Maryland Eliminates Separate Licensing Requirement for Branches

On May 8, the Maryland governor signed HB 686 to eliminate a requirement that collection agencies and certain non-depository financial institutions must maintain separate licenses for branch locations. The Act now allows such entities to conduct business at multiple licensed locations under a single license.

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VeriFacts Sponsoring 3rd Annual Run For Brain Health

STERLING, Ill. -- VeriFacts, a leading location and employment verification service provider, is proud to announce it is sponsoring the third annual Run for Brain Health on May 20. All proceeds from the run will be donated to the Sauk Valley Area National Alliance on Mental Illness (Nami), whose mission is dedicated to improving the quality of life for people with mental illness and their families through support, education, and advocacy.

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Arizona Federal Court Holds FDCPA’s $1,000 Statutory Damages Provision Applies Separately to Each Defendant

In Casillas v. Thunderbird Collections Specialists Incorporated, et al., the plaintiff sustained a work-related injury requiring medical treatment for which a worker’s compensation claim was filed. Under state law, an injured worker who receives a workers’ compensation award is not legally responsible for medical bills covered by the award. Unaware of this law, a collection agency began efforts to recover the plaintiff’s unpaid medical bills, including engaging a law firm to file a collection suit.

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7 Steps to Boost Your Collection Performance with Conversational Voice AI 

Voice AI can revolutionize the ARM industry, but only if you understand the game-changing technology and its capability to boost collections. In this new playbook Skit.ai provides a comprehensive framework for making informed decisions about technology adoption, understanding its nuances, and selecting the most appropriate Voice AI solution today to free up your collections team, streamline processes, and boost efficiency. 


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