Strategies

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.

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.

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.