On October 1, 2021, the CFPB published Frequently Asked Questions (FAQs) related to the Limited Content Message and Call Frequency Presumptions included in Regulation F (Reg F). These FAQs are a Compliance Aid designed to help collection agencies comply with Reg F, which goes into effect on 11/30/21. Per the CFPB's January 27, 2020, Policy Statement, "Compliance Aids are not rules. Rather, they present the requirements of existing rules and statutes in a manner that is useful for compliance professionals, other industry stakeholders and the public."
Read the Whole Story »
Many in the
collections industry consider omnichannel to be the digital strategy of the
future, but what does that actually mean? What does a true omnichannel strategy look
like? How does that differ from a multichannel solution? And what can or should
you be doing to make sure you’re headed towards a true omnichannel solution?
Read the Whole Story »
On September 29, 2021, the CFPB issued a press release regarding its fifth biennial report to Congress regarding the consumer credit card market. The report found that the market’s growth over the last few years reversed course in 2020.
Read the Whole Story »