GLCCA Board Member Spotlight: Rebecca Roberts-Stewart
January 29, 2024
Menu
Please visit ACA's Newsroom for the latest.
FDCPA and FCRA cases fell, while TCPA and CFPB complaints increased in March, according to the latest report from WebRecon. 05/07/2024 1:50 P.M. 2 minute read WebRecon’s latest report shows litigation decreased in March for the Fair Debt Collection Practices Act and Fair Credit Reporting Act, while Telephone Consumer Protection Act and Consumer Financial Protection Bureau claims [...] Read More... The post ARM Industry Claims a Mixed Bag in March appeared first on ACA International.
The bureau alleges two student loan servicers violated the Consumer Financial Protection Act. 05/07/2024 10:20 A.M. 2 minute read The Consumer Financial Protection Bureau filed two complaints and requests for relief against student loan servicers this week. “The National Collegiate Student Loan Trusts purchase and securitize student loans, and PHEAA (Pennysylvania Higher Education Assistance Agency) [...] Read More... The post CFPB Files Student Loan Servicing Enforcement Action appeared first on ACA International.
The Utah-based member company was recognized for its ethical sales and customer service. 05/07/2024 10:15 A.M. 1 minute read TCN, an ACA International member company based in St. George, Utah, recently announced that it has been honored with two Bronze Stevie Awards in the 2024 Stevie Awards for Sales & Customer Service. TCN received recognition [...] Read More... The post TCN Wins Two Bronze Stevie Awards appeared first on ACA International.
Employees from CBHV share how their company leverages ACA’s designation program to attract and retain clients. 05/06/2024 2:30 P.M. 2 minute read You can stand out among your peers, prove that your agency can be trusted to operate prudently, and instill a culture of professional development by pursuing an ACA International designation. ACA’s seven designations [...] Read More... The post Elevate Your Reputation with ACA’s Professional Designations appeared first on ACA International.
The turnaround under new leadership at PRA Group is continuing — the company reported net income of $3.4 million for the first quarter of 2024, compared with a net loss of $59 million during the same period a year ago. Vikram Atal cited a new contact strategy that the company has put in place during
The Consumer Financial Protection Bureau (CFPB) yesterday announced an enforcement action against Chime Financial, a San Francisco-based fintech company, for not providing timely refunds to customers after closing their accounts. This delay affected thousands of consumers, compelling many to turn to costly credit solutions to meet essential expenses. The company will have to pay nearly
A District Court judge in Pennsylvania has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case — albeit on the grounds the plaintiff lacked standing — after the defendant was accused of failing to fully inform the plaintiff about what would happen if a partial payment was made on
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant
CFPB Director Rohit Chopra has released a statement about the proposal issued by the Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Federal Housing Finance Agency to address incentive-based compensation arrangements. The rulemaking is required by Section 956 of the Dodd-Frank Act, which directed the FDIC, OCC, FHA, as well as the Federal Reserve Board, National Credit Union Administration, and U.S.… Continue Reading Continue Reading…
After several years of refusing to adopt special rules applicable in mass arbitration proceedings, JAMS announced that it has issued Mass Arbitration Procedures and Guidelines and a Mass Arbitration Procedures Fee Schedule effective May 1, 2024. The Mass Arbitration Procedures apply “only where the Parties have agreed to the application of these Procedures in a pre- or post- dispute written agreement.” … Continue Reading Continue Reading…
In the lawsuit challenging the CFPB’s final credit card late fee rule (Rule), the Fifth Circuit has denied the CFPB’s petition for a panel rehearing to reconsider the panel’s order vacating the district court’s order transferring the case to the U.S. District Court for the District of Columbia and issuing a writ of mandamus directing the district court to reopen the case. … Continue Reading Continue Reading…
Following their announcement last July regarding their plans to coordinate on a range of consumer financial protection issues , the CFPB Director and his European counterpart, the Commissioner for Justice and Consumer Protection of the European Commission, have released a joint statement highlighting some areas those coordinated efforts have identified for ongoing monitoring and particular focus.… Continue Reading Continue Reading…
The Buy Now Pay Later ("BNPL")[1] legislation introduced by New York Governor Kathy Hochul officially died last week. However, BNPL legislation introduced last month by New York Assemblymember Pamela Hunter remains active and, similar to the Governor's bill, proposes that New York be the first state to require BNPL lenders to obtain a state license. More › Tags: BNPL, Licensing, New York, New York Department of Financial Services, New York Legislation, Proposed Legislation
Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that complies with the statute [Tex. Civil Practice and Remedies Code Section 16.038] resets limitations even if it is combined with a notice of reacceleration.” Moore v. Wells Fargo Bank, N.A., No. 23-0525, 2024 Tex. LEXIS 156, at *2 (Feb. 23, 2024). More › Tags: Compliance, Corporate Compliance, Mortgage, Mortgage Acceleration, Mortgage Debt, Mortgage Foreclosure, Mortgage Loan Acceleration, Mortgage Loans, Mortgage Servicers, Mortgage Servicing, Regulatory Compliance, Reverse Mortgage, Statute of Limitations, Texas
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) issued its revised rule addressing how financial institutions can appeal their compliance ratings or adverse material findings by the Bureau. The rule is an update to the Bureau's November 2015 revisions. More › Tags: CFPB, Compliance, Consumer Financial Protection Bureau, Financial Regulatory
On January 18, 2024, the United States Supreme Court heard oral arguments in two cases challenging the Chevron doctrine of statutory interpretation, Loper Bright Enterprises, et al., v. Gina Raimondo, Secretary of Commerce (Loper-Bright) and Relentless, Inc. v. Department of Commerce (Relentless). Under the Chevron doctrine, courts are supposed to grant deference to an agency's reasonable interpretation of an ambiguous statute. More › Tags: Financial Regulatory, Regulation, Regulatory, Statutory Interpretation
Copyright © 2024 GLCCA