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CFPB Shuts Down Commonwealth Financial Systems for Illegal Debt Collection Practices

Collection Industry News

The Consumer Financial Protection Bureau (CFPB) today took action against a medical debt collector, Commonwealth Financial Systems, for illegally trying to collect unverified medical debts after consumers disputed the validity of the debts. WASHINGTON, D.C. – Read today’s order.

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ARM 2025: Technology Adoption and Regulatory Uncertainty Ahead

Collection Industry News

Technology adoption and potential regulatory changes will be top of mind for collections agencies for 2025. Technology will help increase agency efficiency and increase collections. And potential regulatory changes could result in substantial changes to the collections landscape.