The ARM Industry is hard enough to keep up with during a normal week; last week (and with the CFPB in rare form) it was basically a full-time job in and of itself. That is why we on the editorial team at insideARM pride ourselves on finding only the most important news to share with our readers. Last week included two pieces on the CFPB’s recent actions, some tips on implementing AI, and a legislative update out of Minnesota. Read on and catch up on the news from last week and why we think you needed to see it!
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ROCHESTER, N.Y. -- Continental Service Group, LLC d/b/a ConServe, in conjunction with the company’s “Matching Gift Program”, donated its April ConServe Cares proceeds to the Rochester Education Foundation (REF). Since 2005, REF has been working to fulfill their mission of providing programs and resources to improve learning and success for Rochester city students.
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This February the Minnesota Legislature looked poised to strike a major blow to the debt collection industry with its proposed language for the Minnesota Debt Fairness Act. As we reported, the original bill included a drastic reduction in the statute of limitations for consumer debt and judgments on consumer debt, a prohibition on credit reporting medical debt, and changes to attorney’s fees and garnishments. The final version of the bill (see full text here) is set to become law as it was signed by the Minnesota Governor on May 21, 2024. Thankfully it doesn’t include all of what was originally proposed. Below we will break down the major changes enacted by this bill and when they will go into effect.
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