FCRA Claim for “Misleading” Double-Reporting of Debt by Original Creditor and Collection Agency Survives Motion to Dismiss

In Hansen v. Mountain America Federal Credit Union, the plaintiff became delinquent on a credit card account with her credit union. The credit union then assigned the debt to a third-party collection agency. Following the assignment, the collection agency opened its own tradeline for the debt, while the credit union also continued to report the debt. Although the credit union’s tradeline was updated to reflect that the account was “closed” and in collections, and the collection agency’s tradeline indicated that the credit union was the original creditor, both tradelines showed a balance, albeit for different amounts — $18,340 for the credit union and $20,875 for the collection agency.

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Delaware Enacts Personal Data Privacy Act

Delaware Gov. John Carney on Sept. 11 signed into law House Bill 154, the Delaware Personal Data Privacy Act.  This makes Delaware the 12th state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut,  Iowa, Indiana, Tennessee, Montana, Texas, and Oregon. The Act will go into effect Jan. 1, 2025.

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Retain Delivers Powerful Digital-first Engagement Enabling Clients to Recover $1 Billion

LENEXA, Kan. -- TrueML Products, a fintech company developing products that enable intelligent, digital communication, today announced that clients have used Retain, the company’s flagship product, to drive engagement since January with more than 1 million delinquent customers that enabled recovery of $375 million in past-due balances. Total dollars collected on the Retain product exceed $1 billion. Retain is a scalable, client-branded digital engagement tool powered by an optimization engine to automate clients’ digital communications and help boost customer engagement.

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4 Ways to Sharpen Your Outbound Calling Strategy

Economic conditions over the last three years have encouraged collections departments to focus on technology more than ever before. For many, this means integrating new technology and building strategies around them. However, a huge number of collections departments are trying to teach an old dog new tricks, and it’s working. What’s the old dog?

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Greenberg Advisors’ M&A Updates Are Now Available for ARM, RCM, and Healthcare IT Sectors

ROCKVILLE, Md. -- Greenberg Advisors (GA) announces the release of its M&A Updates for Accounts Receivable Management (ARM), Revenue Cycle Management (RCM), and Healthcare Information Technology (HCIT), analyzing the M&A and investment activity in the first half of 2023.

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Numbers Don’t Lie: The ARM Industry Keeps the Economy Moving

In response to steady attacks from legislators, rule makers, and others, the ARM industry is getting increasingly vocal about its positive effects on consumers and the economy. Recently, Oregon considered legislation that would have made it more challenging to collect post-judgment.  In response, ACA International (ACA) crunched the numbers; it demonstrated to Oregon lawmakers that the data showed the unintended negative economic consequences Oregonians would suffer should the proposed legislation become law.

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How to Apply Strategic Discipline to Your Collections Strategy

TODAY! September 20, 2023 at 02:00 p.m.

Calls. Texts. Letters. Conversational AI. Time. Channel. Preference.

It’s tempting to throw any combination of approaches to collections strategy together to see what sticks. But if you’re not disciplined in your organization’s approach, you’re leaving money on the table.

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Featured Resources and Webinars

from insideARM.com

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

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» Open the Door to SMS Communication for Debt Collection

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