CFPB Bites of the Month - April 2024 - Won't Get Fooled Again, CFPB

April was another month with no shortage of action from the CFPB. In this month's article, we share some of our top "bites" of the month so you can stay on top of recent developments.

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Predictive, Collaborative, and Intelligent Contact Data

A precision data strategy can help your organization overcome consumer contact challenges using data you already have on hand. Watch this 60 minute webinar to gain insight into real results seen by organizations utilizing phone and email intelligence. The panelists discuss:

• the evolution of digital collections,
• how phone and email intelligence can help your organization,
• what's on the regulatory horizon, and
• how you can find out the quality of your data and use it to your advantage.

Watch Replay Now.

Nebraska Becomes 16th State to Enact Comprehensive Consumer Data Privacy Law

Nebraska Gov. Jim Pillen on April 17 signed into law LB 1074, the Nebraska Data Privacy Act, making Nebraska the 16th state to enact a comprehensive consumer data privacy law following California, Virginia, Colorado, Utah, Connecticut, Iowa, Indiana, Tennessee, Montana, Texas, Oregon, Delaware, New Jersey, New Hampshire, and Kentucky. The law will go into effect Jan. 1, 2025.

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insideARM Weekly Recap- Week of April 29th, 2024

Keeping up with all the goings on in the ARM Industry can feel like a full-time job. That’s why we at insideARM try to bring you the biggest news that we think you should know about each week. Last week’s news included the FTC’s intentions to work with state attorneys general, the CFPB’s General Counsel and his comments on medical debt, and an 11th Circuit case that focuses on credit reporting disputes, reasonable investigations, and the FCRA. Read on for a breakdown of these pieces and why we felt you needed to hear about them.

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NCB Management Services, Inc. Appoints Jonathan Thompson as Chief Legal Officer

TREVOSE, Pa. -- NCB Management Services, Inc. (NCB), a national leader and recognized brand in the Accounts Receivable Management (ARM) and Debt Buying Industry, is pleased to announce the appointment of Jonathan Thompson as NCB’s Chief Legal Officer. Mr. Thompson has held key leadership positions at reputable organizations, where he successfully navigated complex legal challenges and provided strategic guidance to drive business growth.

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Credit Reporting Disputes: 11th Cir Decision Brings Clarity and Uncertainty

In a recent decision, the 11th Circuit drew a line in the sand regarding consumer disputes on credit reporting and the standard for investigating legal disputes.  The line set down is whether the legal dispute is “objectively and readily verifiable.” This line might be wavy at times and blurred at others, but it is a line that may provide some clarity for furnishers.

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General Counsel of the CFPB Delivers Remarks Focusing on Medical Collections and Tenant Screening

In a recent speech at the National Consumer Law Center/National Association of Consumer Advocates Spring Training, Seth Frotman, General Counsel of the Consumer Financial Protection Bureau (CFPB or Bureau), focused on medical billing and collections and tenant screening and debt, emphasizing the CFPB’s enforcement of the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA) in these areas.

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Featured Resources and Webinars

from insideARM.com

» The New Reality of Collections Staffing

» How AI-powered Multichannel Outreach Is Transforming the Collections Industry

» Optimizing your recovery strategy with Collections Triggers℠

» Bad Debt is Rising

View all Free Reports and Webinars