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Navigating FCRA and Debt Collection With Special Guest Bridgeforce’s Michelle Macartney [Podcast]

In this episode of FCRA Focus, host Kim Phan is joined by fellow Troutman Pepper partner Stefanie Jackman and Michelle Macartney, managing partner and chief compliance officer at Bridgeforce. Together, they delve into the complexities of reporting collections activity to consumer reporting agencies. Michelle shares her extensive experience in consumer reporting compliance, offering valuable insights into the challenges and best practices for maintaining data accuracy and handling disputes. The discussion also covers the latest CFPB draft rulemaking on medical debt and its implications for consumer reporting agencies, end users, and furnishers. Tune in to learn how to navigate the intersection of FCRA and debt collection as well as discover effective compliance strategies to mitigate risks in today’s regulatory environment. Don’t miss this informative episode packed with practical tips and industry updates!

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[Webinar] Managing Your Service Providers: Do you really have it all in order?

A comprehensive vendor management policy is a must in today’s compliance-centric environment. But are you creating risk for your organization by leaving your vendor management policy on auto pilot? Join us on September 25 at 2PM ET for RA Compliance Corner: Managing Your Service Providers- Do you really have it all in order? where we'll discuss: 

  • How to avoid the temptation to set it and forget it  
  • What’s necessary vs. What's optional  
  • How often you should look at your vendor management program; and  
  • How to update your vendor management program with the least amount of disruption internally and externally.  

Register now. 

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insideARM is grateful to our 2024 Strategic Supporters:

NCB Crown Asset Management Spring Oaks Capital

Several consumer advocacy groups urge presidential candidates to continue CFPB’s work on “junk fees”

On August 15, a coalition of community, civil rights, consumer, and advocacy organizations released a letter urging both presidential candidates to support the CFPB’s ongoing efforts to combat “junk fees.” In a letter addressed to Vice President Harris and former President Trump, the groups emphasized the need for enforcement action and continued regulation of credit card fees, overdraft fees, non-sufficient funds fees and other similar types of fees. The letter highlighted how these fees may affect lower-wage workers, people of color, and small businesses disproportionately and claimed they discourage consumers from obtaining “mainstream” financial products, redirecting them into costlier “fringe” and “predatory” financial services.

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insideARM Weekly Recap - Week of September 2nd, 2024

A short week was still not short on news affecting debt collection! In our efforts to bring you the information you need to see, we found the most important pieces of news from around the industry. Keep on reading for highlights of what you need to know and why our editorial team thinks you need to know it!

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ConServe Upholds Better Business Bureau A+ Accreditation

ROCHESTER, N.Y. -- Continental Service Group, LLC, operating under the name ConServe, proudly upholds its national A+ Accreditation Standard from the Better Business Bureau (BBB) for more than 10 years. ConServe is dedicated to ethical practices and integrity in accounts receivable management. Their accreditation showcases a commitment to high business standards, building trust with Clients and their Consumers.

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GOP pens letter to CFPB on medical debt credit proposal

On August 14, GOP members of the House Financial Services Committee sent a letter to CFPB Director Rohit Chopra voicing concerns about the CFPB’s proposed rule to ban the use of medical information for credit eligibility determinations. As previously covered by InfoBytes, the CFPB’s proposed rule would amend the FCRA to remove the medical financial information exception thus limiting the credit reporting of medical debt. In their letter, the GOP Congress members argued the CFPB’s proposal would weaken the accuracy and completeness of consumer credit reports, increasing risk in the financial system and causing negative effects on the availability of credit.

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Be Careful What You Rely On: Washington Court Says Debt Collector’s Reasonable Reliance On Balance Amount From Creditor Not Enough To Avoid FDCPA Violation

In Creager v. Columbia Debt Recovery, a district court judge partially granted plaintiff’s motion for summary judgment, concluding that the debt collector’s attempts to collect an unpaid apartment debt with a balance inflated because the plaintiff had forfeited her security deposit, violated the FDCPA. The information supplied by creditor/client did not protect the debt collector.

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