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Core Components for a Successful Email Program in Debt Collection

If your business and collection partners aren’t utilizing email in your debt recovery strategy, you’re leaving vital engagement opportunities (and potential collections) on the table. There are plenty of reasons why digital communications are the way to go, but reaching out through email is especially important in collections.

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There are multiple ways for collection organizations to handle their licensing, but which way is best? 

Unique state requirements and rapidly changing licensing regulations require constant attention. Mistakes are costly, and risks are high. Download this new white paper from Cornerstone, authored by insideARM's General Counsel, Missy Meggison, to learn more about:

  • Licensing errors and what they really cost

  • How to tackle licensing issues

  • The pros and cons of different licensing methods

  • How to rate your organization's risk; and

  • How to mitigate risks

Download Now.

insideARM is grateful to our 2023 Strategic Supporters:

NCB Crown Asset Management Spring Oaks Capital

Jan Stieger, Executive Director of Receivables Management Association International, Announces Plans to Retire in March 2024

SACRAMENTO, Calif. -- Receivables Management Association International (RMAI) announced today that Executive Director, Jan Stieger, who has served in the role since January 2011, plans to retire in March 2024. “Under Jan’s transformational and inspirational leadership, RMAI has become a respected leading voice for the receivables management industry and its members tirelessly promoting the important role the industry plays in the credit ecosystem. Whether advocating for the industry or mentoring individual members, Jan has taken RMAI to a new level,” said RMAI President, Anne Thomas.

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RFI Industry Commenters Urge CFPB to Stay in its Lane on Medical Debt Payments

American Bankers Association (ABA), Association of Credit and Collection Professionals (ACA International), U.S. Chamber of Commerce (Chamber), Synchrony Bank (Synchrony), and National Consumer Law Center (NCLC) submitted comment letters in response to the Consumer Financial Protection Bureau’s request for information, about medical credit cards and other lending products used to pay for health care expenses. Banking industry groups highlight that the Consumer Financial Protection Bureau (CFPB) lacks authority to regulate healthcare and urge the CFPB to take no action to limit healthcare payment options to avoid unintended consequences.

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CFPB Outlines Rulemaking Plan to Dramatically Alter Decades of FCRA Requirements for Everyone in the Consumer Data Ecosystem

The Consumer Financial Protection Bureau (CFPB) has started the process of issuing rules on several topics affecting the entire ecosystem that collects, sells, and uses data about consumers, according to an Outline of the CFPB’s plans for rulemaking under the Fair Credit Reporting Act (FCRA) released on September 21. A copy of the Outline can be found here.

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Compliance with Reg F is Not the Same as Compliance With the FDCPA, Says Court

A District Court in New Jersey recently ruled that complying with Reg F does not necessarily equal compliance with the Fair Debt Collection Practices Act (FDCPA). Specifically, the NJ District Court held that although the date of the letter is not a requirement in the Model Validation Notice, failing to include a date in an initial demand that tracks the Model Validation Notice might violate the FDCPA.

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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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Work Smarter, Not Harder - Keeping Tabs On Laws, Rules, and Regs (and keeping ops looped in)

25 October 2023 at 02:00 p.m.

Laws are constantly changing. State and Federal Regulators continue to pass new rules, and already established laws continue to get clarified through the court systems. Legal compliance is never static; it is always dynamic. In the ARM industry, legal changes filter through and affect every part of an organization. Staying on top of these changes and ensuring all relevant parties within an organization get updates can seem like a never-ending task.

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