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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 Credit, household debt rose to $17.69 trillion in the first quarter of 2024. The report showed 6.9% of credit card debt transitioned to serious delinquency in the first quarter, with approximately 4.8% of consumers holding some debt in third-party collections.

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How Lenders Are Increasing Agent Workload – Without Burnout: Digital Strategies and Agent Stability in Collections  

Despite rising caseloads and communication demands, agent turnover has remained steady in recent years for first-party collections shops. Data from Auriemma Roundtables suggests e-communications and workforce management changes could help explain this decoupling between workload and burnout. In this study, you’ll see how lenders used digital communications and innovative workforce strategies to enhance efficiency and navigate the evolving collections landscape.   

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Shepherd Outsourcing Becomes Certified Third-Party Collection Agency

GREENVILLE, S.C .-- Shepherd Outsourcing proudly announces its achievement of the RMAI Certified Business Certification. This prestigious certification, awarded by the Receivables Management Association International (RMAI), underscores Shepherd Outsourcing’s commitment to excellence and adherence to the highest standards in the receivables management industry.

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Congress Struggling with Post-Chevron World

Republicans on Capitol Hill have introduced legislation that would require a review of all federal court decisions, laws, regulations and legal cases that used the Chevron Deference Doctrine as the basis for decisions.

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Missouri Federal Court Dismisses FDCPA Claim Over Letters Sent to Plaintiffs’ Attorney

A U.S. District Court in the Eastern District of Missouri recently dismissed a lawsuit under the Fair Debt Collections Practices Act (FDCPA), finding that two letters sent to the plaintiffs’ attorney did not constitute harassment or abuse under 15 U.S.C. § 1692d.

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Cascade Receivables Management, LLC Selected as One of the Best Places to Work in Collections

PETALUMA, Calif. -- Cascade Receivables Management, LLC, part of the Cascade365 Family of Companies (“Cascade”), is proud to announce that it was recently selected as one of the 2024 Best Places to Work in Collections by ACA International and the Best Companies Group.  This survey program is administered by Best Companies Group, a division of BridgeTower Media, which conducts over 60 local, national, and industry “Best Places” programs each year.

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insideARM Weekly Recap – Week of July 22nd, 2024

We know that ARM industry professionals are pressed for time. This is why the editorial team at insideARM sifts through all the news and highlights only the most important stories each week. Last week we focused on two litigation updates and some advice for communicating with consumers to reduce complaints. Read on for a breakdown of these stories and why we think you need to know about them.

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