Curbing Collections Complaints: Simple Fixes to Reduce Customer Dissatisfaction

Debt collection complaints accounted for 7% of more than 1.6 million customer complaints fielded by the CFPB in 2023. Over the years, many solutions were developed to curb collections complaints. But four simple actions are typically at the core of reducing complaints. See the detail in this blog on how each action can contribute to a reduction in complaints.

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How Lenders Are Increasing Agent Workload – Without Burnout: Digital Strategies and Agent Stability in Collections  

Despite rising caseloads and communication demands, agent turnover has remained steady in recent years for first-party collections shops. Data from Auriemma Roundtables suggests e-communications and workforce management changes could help explain this decoupling between workload and burnout. In this study, you’ll see how lenders used digital communications and innovative workforce strategies to enhance efficiency and navigate the evolving collections landscape.  

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7th Cir. Upholds Rejection of Borrower’s FCRA and FDCPA Claims Arising from Collection and Reporting Post-Bankruptcy

The U.S. Court of Appeals for the Seventh Circuit recently upheld a trial court’s rejection of a borrower’s allegations that a mortgagee and its servicer violated the federal Fair Credit Reporting Act and the federal Fair Debt Collection Practices Act by allegedly inaccurately reporting her loan as delinquent following the borrower’s successful completion of her bankruptcy plan, allegedly rejecting her subsequent monthly payments, and filing a foreclosure action based on the supposed post-bankruptcy defaults.

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Annual Community Involvement Recap with Crown Asset Management

DULUTH, Ga. -- Crown Asset Management, a receivables acquisitions firm near the Atlanta, GA greater metro area, has a deep-rooted commitment to community engagement guided by their core values of excellence, integrity, reliability, respect, teamwork, and leadership. These guiding values drive the organization's support for various charitable causes. This past year, Crown Asset Management was honored to focus their efforts on the Susan G. Komen organization, Habitat for Humanity, Best Buddies International, and more. Here is a recap of what the team was up to in 2023 and now in 2024.

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CFPB Moves to Dissolve Preliminary Injunction and Supplements Motion to Transfer in Credit Card Late Fee Rule Case; Court Immediately Requests Further Briefing

Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a brief in the U.S. District Court for the Northern District of Texas in support of its motion to dissolve the preliminary injunction that has stayed the implementation of its credit card late fee rule. Concurrently, the Bureau also filed a notice of supplemental authority in support of their motion to dismiss or transfer on the grounds that the Fort Worth Chamber of Commerce does not have associational standing to bring the suit. Within hours, the court issued an order requiring further briefing on the issue of associational standing.

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insideARM Weekly Recap – Week of July 15th, 2024

The ARM industry moves fast. Staying informed and sorting through what's relevant and what's just noise can be a challenge, but that's where insideARM steps in. We not only provide you with information but also narrow it down to only the stories that are most important. Last week included a medical debt legislative update, the CFPB’s Semi-Annual agenda, and a breakdown of the CFPB’s activity over the past month. Keep reading below for highlights from these stories and why we felt we should bring you these stories.

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CFPB Bites of the Month: The CFPB and the Dust of June

June was another big month for the CFPB with rules, proposals, lawsuits, and a Supreme Court case. In this month's article, we share some of our top "bites" of the month to keep you in the loop.

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» ARM Tech Trends: Addressing Common Customer Queries

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» The New Reality of Collections Staffing

» Multi-Channel AI: Improve Contacts & Increase Revenue Compliantly

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» Optimizing your recovery strategy with Collections Triggers℠

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