Preparing for the Storm: Adopting a CFPB Rule-Change Timeline

The Consumer Financial Protection Bureau (CFPB) is currently taking public comment on its proposed rule changes that would affect the Fair Debt Collection Practices Act (FDCPA). The comment period closes on August 19, which is right around the corner, but the new rules are not likely to take effect for another 18 to 24 months. … Read more

Automating Your Debt Collection Agency Management Can Eliminate Major Headaches

agency management

Many lenders and other organizations with substantive delinquency and recovery portfolios have chosen to outsource their debt collections efforts to third-party debt collection agencies (DCAs).  These relationships are normally managed manually, often from an Excel spreadsheet. Not surprisingly, this approach can be a nightmare in cases where the client uses dozens of debt collection agencies … Read more