Category Archives: News

CFPB Announcement

Several weeks ago, the Consumer Financial Protection Bureau (CFPB) issued an “Outline of Proposals” for new rulemaking related to the debt collection industry. These proposals, if finalized, would represent the largest change to debt collection regulation in nearly 40 years. The Compliance Department at Frost-Arnett has reviewed and analyzed all 117 pages of the proposal,… Read More

15 ARM Industry Experts React to CFPB Outline of Proposed Debt Collection Rules

Last Thursday, at a Field Hearing on Debt Collection held in Sacramento, the Consumer Financial Protection Bureau (CFPB) released it long awaited Outline of Proposed Debt Collection Rules as it begins the Small Business Regulatory Enforcement Fairness Act (SBREFA) process. See our July 28, 2016 article. We asked several industry experts to give us their… Read More

Washington Insights

By: W. Judd Peak, corporate compliance officer of Frost-Arnett Last month, I had the privilege to travel to Washington, D.C. to meet with various members of Congress to discuss laws and regulations affecting the revenue cycle management industry. In one-on-one meetings, we conferred over the overreach of federal statutes and enforcement agencies that often tend… Read More

An Ode to The Importance of Consumer Data

By: W. Judd Peak, corporate compliance officer of Frost-Arnett Much talk occurs regarding consumer data – namely, the critical importance of accuracy, completeness and timeliness of data. This is especially true in the revenue cycle business. Obviously, accurate, up-to-date consumer data makes collections quicker and better – contacting consumers is a prerequisite to collecting money… Read More

FCC Ruling on Mobile Dialing Greatly Affects Collections

SYNOPSIS In order to maintain the highest collection efficiency and maximize recoveries, creditors need to ensure they obtain, in writing, the consent of patients to communicate with them and their collection agencies for billing and payment purposes via their cell phone. With prior express consent of the patient, Frost-Arnett would be able to utilize all… Read More

Consumer Financial Protection on Bureau’s New Focus on Medical Debt Collection

By: W. Judd Peak, chief compliance officer of Frost-Arnett What a difference a year makes in the debt collection industry. The Consumer Financial Protec on Bureau or CFPB (the federal agency charged with oversight of financial activity, including debt collection and accounts receivable management) has shifted focus from home mortgages and lending and has now… Read More