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Hudson Cook Enforcement Alert: Nonbank Student Loan Servicer Agrees to a CFPB-Imposed Ban and to Pay $120 Million

The Consumer Financial Protection Bureau ("CFPB") filed a proposed stipulated final judgment and order against a nonbank student loan servicer over alleged violations of the Consumer Financial Protection Act ("CFPA"), the Fair Credit Reporting Act ("FCRA"), and the Fair Debt Collection Practices Act ("FDCPA"). The settlement includes a ban from acquiring or servicing certain direct federal student loans and requires payment of $120 million.

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[Webinar] Managing Your Service Providers: Do you really have it all in order? 

A comprehensive service provider management policy is a must in today’s compliance-centric environment. But are you creating risk for your organization by leaving yours on auto pilot? Join us tomorrow, September 25 at 2PM ET for RA Compliance Corner: Managing Your Service Providers- Do you really have it all in order? where we'll discuss: 

  • How to avoid the temptation to set it and forget it  
  • What’s necessary vs. What's optional  
  • How often you should look at your service provider management program; and more   

Register now. 

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insideARM Weekly Recap - Week of September 16th, 2024

The world of debt collection is never at a loss for updates, but separating the important stuff from the background noise isn't always easy. At insideARM, our goal is to help you answer those questions. We wade through the constant onslaught of updates and bring you the need-to-know highlights. Every Monday, we bring you a recap to help you stay informed and let you know why that piece of news is important.

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CFPB Submits Comment Letter on Use of AI in Financial Services

On August 12, the Consumer Financial Protection Bureau (CFPB) submitted a comment letter in response to a Treasury Department Request for Information on the use of AI in financial services.

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CFPB Bites of the Month - August 2024 - All That's Left of the CFPB's Summer Sky

The CFPB continued with a high level of activity in August. In this month's article, we share some of our top "bites" of the month to help you stay up to date.

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Nevada Federal Court Grants Summary Judgment in Debt Collector’s Favor in FDCPA and TCPA Case Alleging Attorney Representation and Use of an ATDS

On September 9, the U.S. District Court for the District of Nevada granted summary judgment in favor of a debt collector in a case involving alleged violations of the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act (TCPA) based on phone calls the plaintiff received related to her medical debt.

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National Credit Adjusters Continues Annual Water Drive for Chandler, Arizona Community

CHANDLER, Ariz -- National Credit Adjusters, a receivables acquisition and management firm headquartered in Hutchinson, KS with a satellite location in Chandler, AZ, was pleased to continue support of an annual water drive spearheaded by the team in the Chandler office.

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