New York Federal Court Stays CFPB’s Lawsuit Against Indirect Auto Finance Company Pending U.S. Supreme Court Decision in CFPB Funding Case

As discussed here, on January 4, the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (NY AG) filed a joint complaint in the U.S. District Court for the Southern District of New York against Credit Acceptance Corporation (Credit Acceptance), a major subprime indirect auto finance company. The joint complaint alleges that Credit Acceptance pushed dealers to sell cars with hidden interest costs, include add-on products, and inflate prices. On March 14, Credit Acceptance filed a motion to dismiss the complaint.

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Credit Control, LLC: Winner - Best Places to Work in Collections for the Fourth Year in a Row

ST. LOUIS, Mo -- August 14th – Credit Control, LLC (“Credit Control”) is proud to announce for the fourth year in a row, our employees have ranked us as winners in the Best Places to Work in Collections program. This is the company’s fourth time participating and the fourth time being recognized as program winners including back-to-back #1 overall rankings in the large company category in 2021 and 2022.

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General Revenue Corporation (GRC) Wins Best Places to Work in Collections

MASON, Oh --General Revenue Corporation (GRC) announces that they have been chosen as one of the TOP FIVE “2023 Best Places to Work in Collections.”

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CFPB Sues Auto Loan Servicer for UDAAP Violations

The CFPB has filed a lawsuit in a Georgia federal district court against USASF Servicing (USASF) in which the CFPB alleges that USASF engaged in various unfair acts or practices in violation of the Consumer Financial Protection Act.  USASF services retail installment sales contracts (RICs) originated by its affiliate, U.S. Auto Sales, Inc., which the CFPB describes as a “buy-here, pay-here car dealer.”

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Auriemma Roundtables Acquires insideARM, LLC

Auriemma Roundtables, a leading business intelligence provider for the consumer finance ecosystem, is excited to announce the acquisition of insideARM, LLC, including the insideARM and Collections & Recovery media brands, and the Consumer Relations Consortium (CRC), and Research Assistant (RA) products.

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CFPB’s Summer Edition of Supervisory Highlights Focuses on Auto Lending/Servicing and Debt Collection Practices

On July 26, 2023 the Consumer Financial Protection Bureau (CFPB or Bureau) released the summer edition of its Supervisory Highlights report, providing a high-level overview of alleged unfair, deceptive, or abusive acts or practices (UDAAP) identified by the agency during examinations from July 1, 2022 to March 31, 2023. The findings included in the report cover examinations in the areas of auto origination, auto servicing, consumer reporting, debt collection, deposits, fair lending, information technology, mortgage origination, mortgage servicing, payday and small dollar lending, and remittances.

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Streamline Your Collections Process Using Voice AI

12 September 2023 at 02:00 p.m.

Voice AI used to set collections agencies apart from their competition. Soon, it will be table stakes. If your organization isn’t exploring adding Voice AI to your strategy, you’ll be left behind. 

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Featured Resources and Webinars

from insideARM.com

» A New Kind of Collections Strategy: Empowering Lenders Amid a Shifting Economic Landscape

» Open the Door to SMS Communication for Debt Collection

» Voice AI Transformation in Debt Collections: Insights from Early Adopters

» The State of Customer Outreach: Top Ten Findings for Collections

» How to Connect with Today’s Digital Consumer

» 7 Steps to Boost Your Collection Performance with Conversational Voice AI

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