On October 15, the CFPB and DOJ announced an enforcement action against a mortgage company, alleging it engaged in redlining against majority-Black neighborhoods in the greater Birmingham, Alabama area. According to the complaint, defendant’s marketing and sales practices discouraged people from applying for mortgage loans in these neighborhoods, allegedly violating ECOA, the CFPA, and the Fair Housing Act.
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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. Download now to learn more. |
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WEST SENECA, N.Y. -- P&B Capital Group, a third-party collection agency headquartered in Western New York, has spent a portion of Q3 in 2024 looking for organizations to support as part of its ongoing community outreach efforts. To better serve its employees and the surrounding community, P&B Capital Group has made a sizable donation to Sto Lat Strong, a Breast Cancer Research Fundraising Group. And, to provide for the youth in its area, P&B Capital has once again offered financial support for a local youth softball team, providing their jerseys for the upcoming season.
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News in the ARM industry moves at lightning speed; determining what's important and what’s just noise can be challenging. This is why the editorial team at insideARM sifts through all the news and brings you the need-to-know highlights.
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The Fair Labor Standards Act (“FLSA”) provides minimum wage requirements and overtime pay for non-exempt employees, but the FLSA also exempts executive, professional, administrative employees from receiving 1.5X overtime compensation.
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MENLO PARK, Calif. -- Latitude by Genesys, a leading debt collection software solution, is dedicated to positively impacting the communities where its employees and executives live. Recently, Latitude donated to the Food Bank of Northeast Georgia, a non-profit organization committed to alleviating hunger and addressing food insecurity across the region. This donation is aimed at helping the Food Bank provide essential meals and resources to individuals and families in need, particularly as the holiday season approaches.
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The ARM Industry is hearing more and more about using AI in their collection practices. This video transcript discusses three ways to perform due diligence with AI.
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