Podcast: Candid Conversation on Critical Compliance Opportunities for ARM Companies

December 14th, 2016

Mike Ginsberg, President & CEO of Kaulkin Ginsberg, and Rozanne Andersen, Vice President & Chief Compliance Officer of Ontario Systems, recently got together to discuss some of the most important compliance related topics affecting ARM companies in today’s market including the CFPB’s new rules under consideration, last months SBREFA hearing, credit reporting trends and TCPA rulings. Here is a link to the podcast.

According to Rozanne, "decision making has been stifled as executives of ARM companies across the country try to interpret the new rules under consideration from the CFPB." She strongly believes that ARM companies need to have a deep understanding of the rules under consideration and begin to address any gaps in their operation regarding these rules, regardless of size since regulators aren’t necessarily hearing the voices of small and midsize ARM companies. In addition, the current SBREFA outline is, probably, pretty close to what we’re going to eventually see as the final rules so there is no point in waiting to address operational deficiencies.

Also, Mike and Rozanne addressed the industry-held belief that if an agency has few, or no, complaints on the CFPB consumer complaint portal, then they would not be impacted by the rulings – a belief that may prove to be costly.

Lastly, they covered the costs of compliance, much of which can be outsourced to third-party specialists and the critical items ARM companies need to address as we head into the New Year, including the practice of convenience fees, statute of limitations on time barred debts, and potential liability regarding the data ARM companies submit to credit reporting bureaus.

This podcast is a product of KG Prime, Kaulkin Ginsberg’s market intelligence service. For more information about how your company can access timely ARM research to help you make decisions about growth, please contact us at hq@kaulkin.com.

Comments are closed.

LATEST BLOGS

The Fed Unwinding the Balance Sheet: Effects on the ARM Industry

November 21, 2017

Is the unwinding of the Federal Reserve balance sheet a huge risk to the economy and markets? If the economy doesn't withstand the unwinding properly and borrowing stagnates too dramatically or declines, we may see a slow down in consumer expenditures. So, what are the effects on the ARM industry?....

» see this post    » all posts


Corporate Tax Reform: Winners and Losers

November 16, 2017

With the House and Senate announcing the major structures of their respective tax reform bills, what are the major impacts on the U.S. economy and the accounts receivable management industry? Both bills wish to eliminate loopholes, reduce corporate taxes and create jobs. This sounds great in theory, but does theory align with reality?....

» see this post    » all posts


The State of the Economy and its Impact on the ARM Industry

November 14, 2017

As we prepare to enter 2018, it's not uncommon to question the current state of the economy. Is the economy improving, and how do these economic conditions impact the ARM industry? This two part podcast series can answer those questions.....

» see this post    » all posts


RECENT ANNOUNCEMENTS

Kaulkin Ginsberg Company Teams up with Topline Valuation Group to Offer a New Valuation Service

November 21, 2017

Kaulkin Ginsberg, in conjunction with its sister company Topline Valuation Group, announces the release of a product that provides ARM company owners with an in-depth assessment of their company's strategic opportunities.....

» see more




Kaulkin Ginsberg Company Releases Middle Market ARM Benchmarking Report

October 12, 2017

Kaulkin Ginsberg Company announced it's release of the middle-market ARM Benchmarking Report available to KG Prime Universal members.....

» see more




Kaulkin Ginsberg Company to Release Exclusive and Comprehensive Index

September 13, 2017

Kaulkin Ginsberg Company will release an exclusive and comprehensive index detailing the economy's effect on the ARM industry. ....

» see more