Debt Collectors Can Bolster Compliance Efforts with Account Monitoring Processes
The scenario presented in this recent ACA article highlights the complexities and legal ramifications debt collectors face when unknowingly contacting consumers who have declared bankruptcy. The court case, Carrasquillo v. CICA Collection Agency, Inc., illustrates how a debt collector was found to have unintentionally violated the automatic stay in bankruptcy because they weren’t informed of […]
Mastering Compliance: Strategically Elevate Your Regulatory Game Amid CFPB’s Enforcement Expansion
Mastering Compliance in a Changing CFPB Landscape: EverChain’s Approach In recent announcements from the Consumer Financial Protection Bureau (CFPB), we’ve learned about significant staff increases, particularly within its Enforcement Division. Currently, their Enforcement branch comprises approximately 150 enforcement attorneys and support staff. With the addition of 75 new full-time employees to this division, there will […]
What’s a Debt Buyer?
What’s a Debt Buyer? If you’ve ever had a debt in collections, you may have experienced your account being purchased by a debt buyer. Debt buyers are businesses in the financial industry that partner with credit issuers to relieve some of the financial loss that can occur from lending money, goods, or services for which the […]
Fintech Nexus Interviews EverChain’s Founder and Chief Executive Officer, Matthew Wratten
Fintech Nexus Interviews EverChain’s Founder and Chief Executive Officer, Matthew Wratten Listen to the Interview The debt-buying process is one that has traditionally been highly manual with Excel spreadsheets flying around and not much automation or sophistication. But that has started to change as fintech has come to debt buying and selling. My next guest […]
