CFPB Releases Supervisory Highlights Focusing on Debt Collection and Loan Servicing Practices

On July 2, the Consumer Financial Protection Bureau (CFPB or Bureau) published the summer edition of its Supervisory Highlights, focusing on examinations of auto and student loan servicing companies and debt collectors that were completed between April 1, 2023 and December 31, 2023. The report also highlights consumer complaints about medical payment products and identifies concerns with financial institutions freezing deposit accounts.

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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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American Association of Healthcare Administrative Management (AAHAM) Brings Legislative Day Home to the Districts

ST. PAUL, Minn. -- In a bold move to refocus efforts on the grassroots level, the American Association of Healthcare Administrative Management (AAHAM) has redirected its 19th annual Legislative Day from Washington, D.C. to local districts and states. This year’s theme, “Bringing the Message Home,” emphasizes the critical role healthcare providers play in our communities and the importance of addressing healthcare issues at the local level.

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insideARM Weekly Recap – Week of July 1st, 2024

One of insideARM’s top priorities is making sure to inform but not overwhelm. That is why our editorial team only brings you the 3 biggest stories each week. To start the month of July we had a landmark Supreme Court decision, some important things to consider when engaging with consumers, and a new data privacy law that leaves a lot to be desired. Read on below for a rundown of those articles and why we felt you needed to see them!

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Rhode Island Enacts Haphazard Customer Data Privacy Law

Rhode Island Senate Bill 2500, the “Rhode Island Data Transparency and Privacy Protection Act,” was enacted on June 28 without Gov. Dan McKee’s signature. The Act will go into effect Jan. 1, 2026.

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The Roller Coaster of Consumer Spending, the Whiplash of Consumer Sentiment, and How to Effectively Engage for Collections

At the end of 2023, economists were hoping for a “boring” 2024—just a relatively uneventful year thanks to a soft landing with downward trends for inflation, unemployment, and interest rates. But instead, the first half of 2024 has been an economic roller coaster for consumer spending, resulting in a whiplash for consumer sentiment. While the soft landing may still be on track, that track doesn’t appear to be as straightforward as hoped. There is an onslaught of mixed messages:

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Supreme Court Overrules Chevron Doctrine in Landmark Administrative Law Decision

Today, the U.S. Supreme Court issued a landmark decision in Loper Bright Enterprises v. Raimondo overruling the Chevron doctrine. This decision marks a watershed moment in administrative law, fundamentally altering the landscape for judicial review of agency actions under the Administrative Procedure Act (APA).

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Legal Hot Topics from the CRC Legal Advisory Board

18 July 2024 at 02:00 p.m.

The legal landscape in the ARM industry is constantly changing. It can be difficult to wade through it all and determine what is important and what steps need to be taken to stay ahead of the curve. 

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