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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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Tech Trends: What you need to know.   

Constantly changing technological advancements make it difficult to stay on top of the latest tech trends and how best to take advantage of them. In this new eBook, Finvi answers the most common questions they hear from customers. You'll get Finvi's unique insights into:  

  • how automation can increase productivity and organizational efficiency  
  • the prevalence of SaaS in the industry and its benefits  
  • the growth of AI and its current usage; and  
  • Where do we go from here? 

Download Now.  

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insideARM is grateful to our 2024 Strategic Supporters:

NCB Crown Asset Management Spring Oaks Capital

ConServe Named 2024 Best Places to Work in Collections

ROCHESTER, N.Y. – July 25, 2024 – Continental Service Group, LLC d/b/a ConServe is proud to announce that it has received the esteemed 2024 Best Places to Work in Collections award brought to you by ACA International and Best Companies Group. This recognition is a testament to ConServe's excellence in industry programs and we are thrilled to receive this honor for the tenth time and to be ranked fourth in the Large Employer Category. Best Companies Group conducted the survey program, which administers over 60 local, national, and industry "Best Places" programs each year.

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Curbing Collections Complaints: Simple Fixes to Reduce Customer Dissatisfaction

Debt collection complaints accounted for 7% of more than 1.6 million customer complaints fielded by the CFPB in 2023. Over the years, many solutions were developed to curb collections complaints. But four simple actions are typically at the core of reducing complaints. See the detail in this blog on how each action can contribute to a reduction in complaints.

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7th Cir. Upholds Rejection of Borrower’s FCRA and FDCPA Claims Arising from Collection and Reporting Post-Bankruptcy

The U.S. Court of Appeals for the Seventh Circuit recently upheld a trial court’s rejection of a borrower’s allegations that a mortgagee and its servicer violated the federal Fair Credit Reporting Act and the federal Fair Debt Collection Practices Act by allegedly inaccurately reporting her loan as delinquent following the borrower’s successful completion of her bankruptcy plan, allegedly rejecting her subsequent monthly payments, and filing a foreclosure action based on the supposed post-bankruptcy defaults.

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Annual Community Involvement Recap with Crown Asset Management

DULUTH, Ga. -- Crown Asset Management, a receivables acquisitions firm near the Atlanta, GA greater metro area, has a deep-rooted commitment to community engagement guided by their core values of excellence, integrity, reliability, respect, teamwork, and leadership. These guiding values drive the organization's support for various charitable causes. This past year, Crown Asset Management was honored to focus their efforts on the Susan G. Komen organization, Habitat for Humanity, Best Buddies International, and more. Here is a recap of what the team was up to in 2023 and now in 2024.

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CFPB Moves to Dissolve Preliminary Injunction and Supplements Motion to Transfer in Credit Card Late Fee Rule Case; Court Immediately Requests Further Briefing

Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a brief in the U.S. District Court for the Northern District of Texas in support of its motion to dissolve the preliminary injunction that has stayed the implementation of its credit card late fee rule. Concurrently, the Bureau also filed a notice of supplemental authority in support of their motion to dismiss or transfer on the grounds that the Fort Worth Chamber of Commerce does not have associational standing to bring the suit. Within hours, the court issued an order requiring further briefing on the issue of associational standing.

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