Multiple Settlement Offers in One Letter are not Misleading

Providing a consumer multiple settlement options in one letter is not misleading or deceptive- even where one offer is featured more prominently than the other. Further, according to New Jersey District Court Judge Esther Salas, when reviewing multiple offers, the “least sophisticated debtor is expected to perform simple math.”

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Spring Oaks Hires Mike Ohmsen as Call Center Department Manager

Chesapeake, VA. -- Spring Oaks Capital, LLC has hired Mike Ohmsen as Department Manager. Mike will report to Director of Operations, Tim Rees.

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Learning & Development Advisor, Rick Paulin joins ARM Compliance Business Solutions, LLC.

BIRMINGHAM, Ala.-- ARM Compliance Business Solutions is excited to announce that Rick Paulin has joined the company as a Learning & Development Advisor. In this role, Rick will support ARM Compliance Business Solutions clients through building robust and effective role-based training programs through live and online platforms.

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U.S. Chamber of Commerce and Other Trade Groups File Lawsuit Against CFPB Challenging UDAAP Update to Exam Manual

The U.S. Chamber of Commerce, joined by six other trade groups, filed a lawsuit yesterday in a Texas federal district court against the CFPB challenging the CFPB’s recent update to the Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) section of its examination manual to include discrimination.  The other plaintiffs are American Bankers Association, Consumer Bankers Association, Independent Bankers Association of Texas, Longview Chamber of Commerce, Texas Association of Business, and Texas Bankers Association.

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Hampton Pryor Group Announces Global Growth

DALLAS, TX -- Recently at the Millennium SACCO  2022 Business Breakfast Meeting in Kampala Uganda, Joe Adams, Chief Executive Officer and President of the Hampton Pryor Group, Inc. (HPG) announced the  global expansion of the company by establishing offices in Nairobi, Kenya and Kampala, Uganda. The meeting was attended by H.E. Jessica Alupo, Vice President of Uganda.

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TrueML Acquires ERC Recovery Business

LENEXA, Kan.--  One True Holding Company d/b/a/ TrueML, a financial technology software company developing machine learning-driven products that enable intelligent, digital communication including in the debt collection space, today announced it has acquired the debt collection business of Enhanced Recovery Company, LLC (ERC), a leading collections provider. The deal will bring ERC under the TrueML family of companies to accelerate TrueML’s mission of creating a better experience for distressed consumers.

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How to Create a Winning Collections & Recovery Strategy Part I

19 October 2022 at 02:00 p.m.

After years of unprecedented cash flow for consumers, a potential recession and reeling stock market, plus inflation leading to the cost of necessities skyrocketing means that it’s never been more crucial for banks and originators to renew their focus on collections and recovery. This webinar will cover how to create a winning collections & recovery strategy after a turbulent 2022, including where collections & recovery departments should invest, how to navigate the active regulatory environment, and what 2023 might look like for collections & recovery departments.

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