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Much has been written about how changes at the top of the Consumer Financial Protection Bureau are going to impact the accountsreceivablemanagement industry, but there are two other government regulators that also police debt collectors — the Federal Communications Commission and the Federal Trade Commission.
It might not specifically mention debt collection or the accountsreceivablemanagement industry, but everyone’s ears should still be perking up after a number of departments within the federal government on Friday announced a crackdown on discrimination in the financial services industry.
As expected, the federal government yesterday announced that it was extending the moratorium on making student loan payments for an additional four months — to August 31 — but added in an extra wrinkle that will impact those in the accountsreceivablemanagement industry: The 7 million borrowers who are in default on their student … (..)
When the federal government declares the COVID-19 public health emergency to finally be over, as many as 15 million individuals could lose their health insurance coverage through Medicaid, according to a new study, which would likely result in a lot more medical debt to be collected for the accountsreceivablemanagement industry.
Through the partnership, Ontario … The post Ontario Systems Partners with RevSpring to Offer a Digital Financial Engagement Solution appeared first on AccountsRecovery.net.
technology-enabled provider of accountsreceivablemanagement (ARM) solutions, announced today it has completed its acquisition of EOS North America, a leading first- and third-party collection agency serving government, financial services, healthcare, telecom and utility clients in the United States and Canada.
29, 2022 /PRNewswire/ — Prodigal, a pioneer in Consumer Finance Intelligence, and Finvi, a premier provider of workflow and payments solutions that streamline and accelerate revenue recovery in the accountsreceivablemanagement (ARM), healthcare, and government markets, today announced their partnership.
President Joe Biden named temporary heads to the three major government agencies regulating the accountsreceivablemanagement industry — the Consumer Financial Protection Bureau, the Federal Communications Commission, and the Federal Trade Commission.
” Prior to joining Finvi, Andersen’s legal career encompassed various facets of law, including association law, corporate governance, and general counsel services. Her proven track record of leadership and advocacy is further evidenced by her numerous professional accolades and recognition as a champion within the industry. .”
BIDEN NAMES TEMPORARY PICKS TO LEAD CFPB, FCC, FTC President Joe Biden named temporary heads to the three major government agencies regulating the accountsreceivablemanagement industry — the Consumer Financial Protection Bureau, the Federal Communications Commission, and the Federal Trade Commission.
ACA International’s comprehensive comments in response to the Consumer Financial Protection Bureau’s proposed debt collection rule recommend fair and objective policies that clarify legal obligations for the accountsreceivablemanagement (ARM) industry and provide clarity for consumers. See Infographic ).
Where data has its own intrinsic value and where data breaches and cyberattacks are a risk for every business, the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA) provides financial institutions, including those in the accountsreceivablemanagement industry, with guidance on how to safeguard customer information.
Do your research and touch base with vendors that specialize in the accountreceivablesmanagement industry to guarantee the highest chance of success. On top of federal adherence, each state also has differing requirements and rules governing agencies within their jurisdiction. Not sure where to start?
Like any industry, the debt collection and accountsreceivablemanagement industries have some bad apples. The latter are obviously people and organizations that you would want to avoid should your business need assistance with collecting on delinquent accounts. So what’s the implication for you, the business owner?
. – May 2021 , In a continued effort to provide their clients with the best-in-class service and optimize the patient experience, Credit Management Company (CMC) is proud to announce their partnership with BillingTree! About Credit Management Company.
Debt collection companies walk a fine line between business efficiency in their primary function (accountsreceivablemanagement), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. Government. Did you know that.
About Finvi For more than 40 years, Finvi has been the premier provider of enterprise technologies that streamline and accelerate revenue recovery for clients across healthcare, government, accountsreceivablemanagement, and financial institutions.
Read more about COVID-19 legislation and ACA’s response in the 2020 AccountsReceivableManagement Industry Advocacy booklet and a summary on the HEROES Act. Similar provisions were included in H.R. 6800, the HEROES Act.”.
DebtNext Software has been delivering robust solutions for their clients’ recovery management needs since its founding in 2003. Before that, returning to Unifund in August 2011 as its Vice President of Sales & Marketing, managing its National Portfolio Sales, Government Services and Portfolio Enhancement Products.
18, 2019 /PRNewswire/ — ACA International’s comprehensive comments in response to the Consumer Financial Protection Bureau’s proposed debt collection rule recommend fair and objective policies that clarify legal obligations for the accountsreceivablemanagement (ARM) industry and provide clarity for consumers.
Because only 26 states and the District of Columbia had publicly reported this data as of June 27, the actual number of people who lost coverage through the government’s main health insurance program for low-income people and people with certain disabilities, is undoubtedly much higher.
The momentum has reached the federal government. Chicago Mayor Lori Lightfoot this week similarly announced an end to the collection of city debt, including late parking fines, through at least April 30. Women, Neeb wrote, “make up 70 percent of the total debt collection workforce and 40 percent is ethnically diverse.”
October 1 is the start of a new fiscal year for a large number of organizations - particularly those with a high percentage of their work coming from government contracts. The US government’s fiscal year runs from 01 October to 30 September and therefore a lot of businesses run their accounting on a similar schedule.
I also defended those clients against civil actions brought against them by consumers, the government, and each other. These compliance and defense litigation skills applied nicely to the accountsreceivablemanagement industry. . Bureau , 140 S. 2183 (2020) and Barr v. Ass'n of Political Consultants , 140 S.
Senator Ted Cruz introduced the Financial Institution Customer Protection Act of 2021, which seeks to prohibit financial institutions from denying services to law-abiding businesses, such as companies in the accountsreceivablemanagement industry.
As part of the festivities to mark the end of one calendar year and the start of a new one, I ask different professionals from across the accountsreceivablemanagement industry for their predictions for the coming year what do they think is going to happen, what kind of year is it going to be for collection operations, etc.
Trends in credit management #4: Growing digitalisation of work processes The growing AI presence in the past couple of years has put work efficiency in the spotlight, due to its potential to automate repetitive, time-consuming tasks (credit scoring, payment processing, customer communications, etc.).
Proactive accountsreceivablemanagement and commercial debt collection services can help prevent unpaid debts from escalating into legal disputes. Businesses should explore government-backed loan programs or invoice financing as alternatives to high-interest borrowing. in Q3 of 2023, up from 1.5%
The accountsreceivablemanagement industry lost a friend and a brother last week with the passing of Eric Foulk. This ruling, decided along ideological lines, fundamentally changes how regulations will be implemented and challenged moving forward. July July 23: Industry Mourns Passing of Eric Foulk.
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