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Colorado Tightens Regulations Related to Debt Settlement and Collection Practices

On June 6, the Governor of Colorado signed into law HB 1380 (the “Act”) which revised the state’s consumer protection laws related to debt collection, credit services organizations, and debt management service providers. Key provisions of the law included:

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[Webinar] Legal Hot Topics in the ARM Industry 

You need to know the latest, most important legal news to stay ahead and protect your business, but how do you know where to focus? Start here. Get an hour of helpful guidance on today's most important challenges from three seasoned attorneys during Legal Hot Topics on July 18, at 2pm ET. Register now

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P&B Capital Group Donates to Local SPCA Chapter

WEST SENECA, N.Y. -- P&B Capital Group, a third-party debt collection agency, has made a donation to their local Society for the Prevention of Cruelty to Animals (SPCA) chapter, furthering their commitment to social responsibility and community involvement. This donation was the culmination of P&B Capital Group’s Q2 Community Involvement initiatives. As a community leader, the team encourages its employees to go out and support the organizations they are passionate about.

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insideARM Weekly Recap – Week of June 17th, 2024

The only thing constant in the ARM industry is change. That's why we at insideARM review all the news for you and bring you only the stories that are most important. Last week, after what felt like months of breaking news from the CFPB, the focus shifted to the states with important rulings in both Alabama and Indiana, and a new law in Maine that looks to greatly impact medical debt collection. Read on for a breakdown of these stories and why our team feels you need to know them.

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Maine Passes Amendment on Medical Debt

On April 22, 2024, Maine became the most recent state to enact legislation aimed at limiting the collection of medical debt. The law, An Act to Prohibit Unfair Practices Related to the Collection of Medical Debt, amends Maine’s Fair Debt Collection Practices Act and concerns fees and interest, a litigation exemption, and the definition of medical debt. The full bill can be found here and goes into effect on August 9, 2024.

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National Credit Adjusters Launches Food Drive for West Haven Children’s Home

HUTCHINSON, Kan. -- National Credit Adjusters’ company services are rooted in their core values of integrity, honesty, and transparency. With offices in Kansas, Arizona, and Jamaica, the organization actively works within its local communities to promote better health and happiness. In April, NCA worked closely with its Jamaica office to launch an incredible food drive dedicated to providing food for the West Haven Children’s Home.

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Indiana Appeals Court Rules That a Passive Debt Buyer Is a Debt Collector under the FDCPA and State Law

The Court of Appeals of Indiana recently upheld a lower court’s decision that a debt buyer who purchased a portfolio of defaulted student loans and placed an account with a collection agency qualifies as a “debt collector” under both Indiana state law and the Fair Debt Collection Practices Act (FDCPA).

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