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CFPB Fines GreenSky $2.5 Million and Requires Cancellation of $9 Million in Loans

On July 12, 2021, the CFPB announced that it issued a consent order against GreenSky, LLC (GreenSky) for enabling contractors and other merchants to take out loans on behalf of thousands of consumers who did not request or authorize them. Per the consent order, Greensky, which is a non-bank institution located in Atlanta, GA, will be required to pay a $2.5 million civil penalty and refund or cancel up to $9 million in loans.

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Whitepaper: How to Automate After-Call Wrap-up and Boost Agent Productivity

Your agents spend on average 25% of their day taking notes. That's $10,000 per agent, per year. Find out how machine learning can automate after-call wrap-up, free your agents from note-taking duty, and radically increase productivity in "Accelerating Agent Productivity," a new whitepaper from Prodigal. Learn more.
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insideARM is grateful to our 2021 Strategic Supporters:

NCB MRS Crown Asset Management Spring Oaks Capital TransUnion

Financial and Compliance Professional Stephanie Schenking Joins Crown Asset Management Team

DULUTH, Ga. -- Crown Asset Management, LLC (CAM), a receivables management and specialty finance firm, proudly announces the addition of Stephanie Schenking as CAM’s Agency Relationship Manager. Ms. Schenking has over 20 years of experience in the financial services industry. As Agency Relationship Manager, she will serve as a liaison between CAM and network collection agencies, oversee agency adherence to CAM policy, and manage agency performance.

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Colorado Enacts Comprehensive Consumer Data Privacy Legislation

On July 6, Colorado Gov. Jared Polis signed into law Senate Bill 21-190, the Colorado Privacy Act.  This makes Colorado the third state, behind California and Virginia, to enact comprehensive consumer data privacy legislation.  The act becomes effective July 1, 2023.

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ProVest and Vertican Technologies Partner on Q-LawE Software Integration

TAMPA, Fla. -- ProVest, an industry leader in serving legal process, announced that it is now fully integrated with Vertican’s Q-LawE platform. Vertican’s software offers many benefits, namely time savings and human data entry error elimination.

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Gross: Lawyerless TCPA Plaintiff May Have Just Ruined Facebook For Everyone

We’ve been comprehensively covering the seesaw application of Facebook at the district court level, so I can confidently state that this is the worst post-Facebook ATDS ruling yet.

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Spire Recovery Solutions Supports Local Community with Donation to FeedMore WNY

LOCKPORT, N.Y. -- Spire Recovery Solutions, a professional accounts receivable collection agency, made a recent donation to FeedMore WNY, a charitable nonprofit organization dedicated to ending hunger in the Western New York area. The organization is the primary nonprofit food provider in the region and includes both Meals on Wheels and Food Pantry services.

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Women in Consumer Finance 2021

6 December 2021 at 10:00 a.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2021 – a virtual and in-person conference and networking experience for ALL women in consumer finance.

Event Details »