DAKCS Difference in Action: Partnering on Washington State Interest Change
With a new interest law change put in place, DAKCS partners with Washington State and Idaho customers to find solutions. The new law impacts the interest charged on medical accounts and the letter changes regarding the debt.
Getting an ROI from the Limited Content Message
When the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Outline of Proposed Rule for Debt Collection back in the summer of 2016, the industry applauded the CFPB’s plan for a limited content message (LCM). The LCM showed the power of the Bureau to actually do good and fixed the Foti problem that plagued the industry for years.
Navigating the Safe Harbors of the NPR
The CFPB Proposed Rule for debt collection provides, in certain instances, some specific safe harbors. Samples of the safe harbors that focus on consumer communication are listed in this article and should be reviewed carefully. Some may be disguised as safe harbors but in actuality, they are potential defenses in the event a claim is asserted against the debt collector for a violation of the FDCPA.
Is the CFPB’s Proposed Validation End Date a Wolf in Sheep’s Clothing?
Attorney and industry advocate Joann Needleman discusses what the proposed Validation End Date could really mean in the Proposed Rule. In the Notice of Proposed Rule (NPR), the Consumer Financial Protection Bureau (CFPB or Bureau) attempts to provide some clarity around the debt collector’s calculation and disclosure of the validation end date which is critical.
5 New Data Points of the Validation Notice Under the Proposed Rule
With the CFPB Proposed Rule, the debt collection industry is going to change. The newly proposed Validation Notice format in the CFPB’s NPR contains several new requirements that mean your client may need to send additional data, you may need to send more data to your vendors, and you may not be able to collect on certain accounts.
What You Should Know About Submitting a Comment to the CFPB’s Notice of Proposed Rule for Debt Collection: Step-by-Step
What to know about when submitting a comment to the CFPB’s Notice of Proposed Rule for Debt Collection. A Step-by-Step Guide by Joann Needleman of Clark Hill. Many agencies and interested stakeholders are now thinking about submitting comments on the NPR to the CFPB.
DAKCS Difference in Action: Customer Insights with Stacy Willis
DAKCS is proud of our longstanding partnerships with our customers. One of which is Stacy Willis. As she steps into the limelight announcing her candidacy for ACA International Board of Directors, she continues to take the steps necessary to better the community and our industry. She is a core part of what makes the #DAKCSdifference.
Debt Collectors and Creditors Need to Learn the New Vocabulary of the NPR
Debt collectors and creditors should get used to a new vocabulary when it comes to the CFPB Notice of Proposed Rule. With a new roadmap for compliance, changes in third party operations are inevitable, especially when it comes to receiving information from its creditor clients.
How to Use your System for Electronic Communications and Consent Management
Learn how the DAKCS Beyond Accounts Receivable Management system will help you maintain and track given consumer consent and consent that has been removed.
How To Send the Electronic Validation Notice with E-Sign Consent
Let's discuss how to send and deliver the electronic validation notice and disclosures while gaining E-Sign consent.
What Are the Required E-Sign Disclosures for Debt Collectors?
E-Sign Disclosures for Debt Collectors are required in order to obtain the consumer’s consent and to be in compliance with the E-Sign Act. Here are the required disclosures.