Operations

November 14, 2024 by Keith Barnett in CFPB

CFPB Proposes Amendments to Disclosure Requirements Under Remittance Transfer Rule

On September 20, the Consumer Financial Protection Bureau (CFPB or Bureau) announced a proposed rule aimed at amending the disclosure requirements for international money transfers, commonly known as remittances. The proposed amendment is aimed...

November 5, 2024 by Erin Kerr in Channel Optimization

Exploring How the Reduction in Federal Interest Rates Impacts Consumers and Influences Banks and Lenders' Recovery Strategies

The Federal Reserve plays a pivotal role in influencing the economy through its monetary policy decisions, particularly in setting the federal interest rates. Changes in these rates have far-reaching implications...

October 17, 2024 by Massie P. Cooper in Arbitration

Fourth Circuit Affirms Denial of Motion to Compel Arbitration Finding Duty to Read a Contract Does Not Encompass Scrolling Through Multiple Pages of Hyperlinks in a Digital Agreement

The U.S. Court of Appeals for the Fourth Circuit recently affirmed a district court’s decision denying a defendant’s motion to compel arbitration, underscoring the importance of clear and conspicuous notice...

October 9, 2024 by Mark Ravanesi in Collections Strategy

Q2 Industry Insights: Beating the Economic Heat and Keeping Up with Compliance

The dog days of summer are ahead, and with inflation and high interest rates still sticking around, consumers in the U.S. will be feeling the heat financially. Consumer sentiment and...

October 3, 2024 by Sheldon Stewart in Collections Strategy

The Risks of Debt Settlement Companies and the Benefits of Direct Negotiation

Debt settlement companies often promise to help consumers negotiate with creditors to reduce their overall debt load, but they frequently fall short of delivering real benefits. In fact, analysis of...

September 26, 2024 by Cali Thompson in Collections Strategy

Understanding the Consumer Spending Split and How to Recover More Across the Divide

It’s becoming a familiar headline: US household debt keeps climbing and delinquency rates keep rising. According to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and...

September 18, 2024 by Brooke Conkle in CFPB

CFPB Report Foreshadows Increased Scrutiny of Negative Equity in Auto Lending

In June, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report on the state of negative equity in auto lending. The CFPB says it found that financing negative...

February 7, 2024 by Alan Glencourse in Operations

How to Mitigate Change Management in Your Financial Organization

Uncontrolled and poorly executed change significantly increases risk in organizations. This risk can manifest financially (e.g., cost overruns, unrealized business case benefits), operationally (e.g., inefficient processes, manual workarounds, control gaps,...

August 2, 2023 by Amanda Parada in Operations

Industry Insights: What's on the Mind of RCM Leaders

Tight budgets. Staff shortages. Automation and AI. Revenue growth. These are just a few of the hot topics facing executives in the revenue cycle management (RCM) industry. What do RCM...

July 7, 2022 by Kristyn Leffler in Collections Strategy

Three Lessons from the Software Development Lifecycle to Improve Recruitment and Retention

Many collections and recovery departments and ARM companies are still struggling to find and keep talent at all levels of the organization. Single organizations or teams cannot control or ignore...