New Jersey Enacts Comprehensive Consumer Data Privacy Law

New Jersey Gov. Phil Murphy on Jan. 16 signed into law Senate Bill 332, making New Jersey the 13th state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut, Iowa, Indiana, Tennessee, Montana, Texas, Oregon, and Delaware.  The law will go into effect Jan. 16, 2025.

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For third-party collectors, 2023 was a mixed bag. 

Explore the year in detail with this new, in-depth market report from TransUnion, prepared in collaboration with research firm Datos Insight. You'll find insights into the trends, challenges and innovations reshaping third-party collections. Learn more about what’s currently going on in the industry, where we go from here and how you can best position your organization for the future.

Get the free report here. 

National Creditors Bar Association Foundation Receives $50,000 Pledge from Barron & Newburger Foundation

WASHINGTON, D.C. -- The National Creditors Bar Association (NCBA) today announced that Barron & Newburger, P.C. will sponsor an annual Scholarship, pledging $50,000 over five years to the NCBA Foundation. Funds will support a $10,000 per year college scholarship. Application forms can be found at creditorsbar.org/scholarship.

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CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

January 2024 was another busy month for the CFPB. In this article, we'll share some of our top CFPB "bites" of the month so you can stay on top of recent developments.

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DebtNext Software Receives SOC 2 Type II Attestation

COPLEY, OH -- DebtNext Software, a Recovery Management and Operations Solution Provider, today announced that it has completed its SOC 2 Type II audit, performed by KirkpatrickPrice. This attestation provides evidence that DebtNext Software has a strong commitment to security and to delivering high-quality services to its clients by demonstrating that they have the necessary internal controls and processes in place.

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CFPB Continues Focus on Consumer Reporting and the FCRA With New “Guidance” on Background Checks and Consumer Disclosures

On January 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued two “advisory opinions” addressing the CFPB’s views of the obligations of consumer reporting agencies (CRAs) under the Fair Credit Reporting Act (FCRA). The advisory opinions are interpretive rules issued under the Bureau’s authority to interpret the FCRA pursuant to § 1022(b)(1) of the Consumer Financial Protection Act of 2010.

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Economy, Pandemic Drove Up Bankruptcy Filings in 2023 With No Abatement Expected This Year

A look back at bankruptcy trends and litigation in 2023 reveals a spike in bankruptcy filings driven by economic factors and fallout from the pandemic while in upper courts several interesting cases were decided involving proofs of claim, stay violations, and discharge issues.

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Featured Resources and Webinars

from insideARM.com

» Seizing the Opportunity in Uncertain Times: The Collections Industry in 2023

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» NAVIGATING COLLECTIONS LICENSING: How to Reduce Financial, Legal, and Regulatory Exposure

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

» Open the Door to SMS Communication for Debt Collection

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