CFPB’s Fall Edition of Supervisory Highlights Focuses on Auto-Finance Market

On October 7, the Consumer Financial Protection Bureau (CFPB or Bureau) published the Fall edition of its Supervisory Highlights, focusing on examinations of the auto-finance market completed between November 1, 2023, and August 30, 2024. The report highlights significant findings across various aspects of consumers’ experiences with vehicle finance, including origination disclosures, repossession activities, servicing practices, the handling of add-on products, and credit reporting.

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Creditors are adopting AI; why debt collectors should be, too.

While AI has revolutionized how creditors manage operations, the collections industry has been slow to adopt AI-powered technology. This new white paper, authored by Missy Meggison (General Counsel at Auriemma Roundtables; Editor at insideARM) and sponsored by Skit.ai, clarifies common misconceptions about AI and highlights the significant benefits it can bring to the ARM sector, such as loss reduction, improved decision-making, and enhanced consumer engagement.

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AgreeYa Solutions to Showcase Cogent Suite of Leading-edge Debt Collection Software Solutions at 2024 NCBA Connect

FOLSOM, Calif. -- AgreeYa Solutions, a global leader in software, solutions and services is excited to announce its participation in the 2024 National Creditors Bar Association (NCBA) Connect conference, to be held from October 21st to 24th at the Sheraton New Orleans Hotel. At Booth #32, AgreeYa’s experts will be available to discuss how their innovative Cogent suite is revolutionizing debt collection processes for organizations worldwide.

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insideARM Weekly Recap - Week of October 7th, 2024

The world of debt collection is never at a loss for updates, but separating the important stuff from the background noise isn't always easy. At insideARM, our goal is to help you answer those questions. Every Monday, we bring you a recap of the need-to-know highlights to help you stay informed.

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Remembering Larry Vasbinder: A Visionary in the Receivables Management Industry

AUSTIN, TX -- The Receivables Management industry mourns the loss of a true visionary, Larry Vasbinder, founder of Second Round, who passed away unexpectedly this past weekend after post-surgical complications. Larry’s legacy is one of innovation, resourcefulness and an unwavering commitment to improving the consumer experience. His absence is deeply felt.

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FTC's Invitation Homes Settlement: Federal Consumer Protection Laws In Rental Property Management

The Federal Trade Commission (FTC) announced a groundbreaking settlement with Invitation Homes, a large single-family rental home owner/operator, on September 24. The settlement, which includes a $48 million monetary judgment and substantial injunctive relief, introduces novel applications of Section 5 of the FTC Act (15 U.S.C. § 45) in excess of state and local law to: advertising rents and services, disclosing rents and fees in leasing, managing security deposits, credit reporting rent obligations, and advising residents of resident relief during the evictions process.

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Case in which CFPB came to financial institutions’ defense dismissed

An Illinois federal judge has dismissed a proposed class action lawsuit that alleged that two Midwestern banks failed to provide repayment disclosures to borrowers, in a case that was unique because the CFPB came to the defense of the financial institutions.

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Featured Resources and Webinars

from insideARM.com

» Creditors are adopting AI; why debt collectors should be, too.

» ARM Tech Trends: Addressing Common Customer Queries

» Predictive, Collaborative, and Intelligent Contact Data

» The New Reality of Collections Staffing

View all Free Reports and Webinars