PETALUMA, Calif. — The Cascade365 Family of Companies is excited to announce that Denise Tobin has joined the team as Director of Business Development.

In this role, Ms. Tobin will develop strategic business partnerships within the Healthcare Industry for Cascade365 related to AR Purchase and Servicing of healthcare account receivables. Ms. Tobin’s skillset, expertise and relationships built over the years will be a major contribution to Cascade365’s continued success as she helps to increase business development opportunities, sales, and client retention.

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Ms. Tobin joins Cascade365 with over 20 years of experience in healthcare and revenue cycle operations.  Her relationships within hospitals, health systems, and peripheral health related organizations will help drive Cascade365‘s next level of growth and expansion.

Ms. Tobin has consistently volunteered throughout her career in various healthcare industry associations,  including ME AAHAM, VA AAHAM, VA HFMA, GA HFMA, AL HFMA, and STX HFMA. Ms. Tobin has also been the recipient of regional HFMA awards, including the VA Leanna Marsha Distinguished Member Award as well as the GA Distinguished Service Award.

“I am ecstatic that Denise has joined our team,” said Lee Brockett, Managing Director of the Cascade365 Family of Companies. “Her experience and expertise will enhance our business partnerships, sales and overall revenue growth.  Denise will be instrumental in Cascade’s ongoing success as we continue a strong trajectory of growth and increased footprint within the healthcare vertical.”

“I am beyond honored to work with the talented team at Cascade365 to further enhance their strong contributions to the healthcare industry,” said Ms. Tobin.  “Cascade365 is a true leader in the marketplace of healthcare accounts receivable management, which includes debt purchase, master servicing, collections, and specialty finance.  I am excited to support the organization’s endeavors, including contributing to its business development team and helping to structure innovative solutions for our clients. The progressive company culture paired with its nimbleness makes it the perfect fit.”

About The Cascade365 Family of Companies 

Cascade365 is a brand identity representing a family of companies focused on the responsible liquidation of accounts receivable.  Headquartered in the San Francisco Bay area, the Cascade365 Family of Companies are recognized leaders in the accounts receivable management, revenue cycle and specialty finance industries. Cascade365’s suite of products and services include AR Purchase and Finance, Master Servicing, Third Party Collections, and Revenue Cycle Optimization.  The Cascade365 Family of Companies believes in promoting financial accountability while treating patients in a fair, dignified, and lawful manner.  For more information, please contact Denise at dtobin@cascade365.com or 774-454-9993.

BLOOMINGTON, Minn. – Absolute Resolutions Corp., headquartered in Bloomington, MN, announced today that in honor of financial literacy month they have contributed for the second year in a row to the Minnesota Council on Economic Education (MCEE).  

Financial Literacy Month was established by Congress in 2004 to raise awareness about the importance of financial education. The five core components of financial literacy are: earn, spend, save, invest, borrow and protect. 

“It is critical that consumers are equipped with sound financial literacy as a cornerstone to their financial well-being.” Said Chris Winkler, ARC’s Chief Executive officer. 

MCEE was founded in 1961 when a group of local leaders met to discuss economics in Minnesota schools. In 2005 MCEE added community programs that have now equipped over 100 organizations to provide high-quality personal finance and economic lessons for vulnerable Minnesota communities and populations.

“We are proud to continue to support MCEE as they work to establish financial education programs in our neighboring communities.” finished Winkler. 

About Absolute Resolutions Corp.

Absolute Resolutions Corp. is a certified professional receivables company headquartered in Bloomington, MN with offices in San Diego, CA and Scottsdale, AZ.  www.absoluteresolutions.com

About Minnesota Council on Economic Education

MCEE provides workshops, training, and resources to support teachers in delivering relevant and meaningful lessons in economics and personal finance in the classroom.  www.mcee.umn.edu/mcee

Show Notes:

In a very crowded #fintech market, #CreditEcotoGo welcomes Sedric to the podcast. Voted the Most Promising Fintech Startup of 2022 by #Citi and #Visa,  Sedric is an AI solution which systemically implements the most critical part of a financial institution’s compliance management system: risk detection and remediation. Rather than wait a week or a month for the results of an audit report, Sedric identifies risk and provides on-demand real-time training in order to remediate the risk. Our guests tells us that you don’t have to sacrifice consumer protection for growth, rather consumer protection ultimately protects the financial services system. 

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DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.

Medical debt continues to capture the attention of state and federal government, with lawmakers and regulators continuing to target how medical debt is collected and how it is reflected on a consumer credit report.

As previously reported, a particular focus of the CFPB as iterated in its February 2022 report on medical debt is holding the nationwide consumer reporting agencies (“NCRAs”) and other reporting companies accountable for the accurate reporting of medical debt, including a duty to act against abusive furnishers who routinely report inaccurate information regarding medical debt.

In response, the NCRAs began rolling out guidance to data furnishers regarding their responsibilities as it relates to the changes the NCRAs are making in the reflection of medical debt on consumer reports.

On the state level, Virginia lawmakers were unsuccessful this week in their attempt to pass “HB 573 Statute of limitations; collection of medical debt,” which would have reduced the statute of limitations on medical obligations from five years to three years.

The bill also would have limited the length upon which a judgment taken on medical debt could be executed, reducing the time from as much as 20 years under current law to seven years for general medical services and to three years if the medical services were for “life-sustaining treatment.”

Ultimately HB 573 was vetoed by Virginia’s governor despite having received over 80 percent support in the Virginia House of Delegates and unanimous approval from the Virginia Senate. In announcing the veto, Gov. Glenn Youngkin explained that the legislation “. . . would create unintended consequences and have significant implications on financial regulations in the Commonwealth by inadvertently capturing other forms of debt other than medical debt.”

In addition, Gov. Youngkin noted that he commended the sponsor on “prioritizing this important issue and look(s) forward to working on this to find solutions to ensure that defined statutes of limitations can clearly resolve medical debt owed directly to health care providers.” The measure is now headed back to the Virginia House which will have the opportunity to override the veto during its “veto session,” slated for later this month.

Medical debt can already be a tricky receivable and HB 573 would certainly have the potential to add to the difficulties in compliantly collecting it.

For example, imagine the difference of opinion and opportunity for factual dispute regarding whether the medical services were “life-sustaining” and thus triggering the shorter three-year statute of limitation. Would it be out of the question to envision the necessity of expert medical input regarding the nature of the services provided to properly adjudicate a debtor’s defense to attempts to execute upon a judgment? How about in an FDCPA affirmative action brought by an allegedly aggrieved debtor?

The costs of establishing the appropriate limitations could very well outweigh the value of the litigation. Additionally, compliance measures would be required to assist with an entity’s internal ability to appropriately identify whether they had seven years versus three years within which to execute upon a judgment.

Medical collections can create difficult waters to navigate and any entity that handles medical debt needs to be ever vigilant with new developments in the landscape. The compliance experts at Maurice Wutscher will continue to monitor the spotlighted issue of medical debt and will be prepared to provide guidance as the landscape changes regarding how medical debt is being regulated.

SANTA ROSA, Calif. — StopLitigators.com is a new, free, crowdsourced database of Telephone Consumer Protection Act (TCPA) litigators compiled from demand letters submitted by industry users. StopLitigators.com is offering free access to check phone numbers against the database in exchange for signing up. Marketers can sign up at StopLitigators.com, submit their demand letters and lawsuits to the crowdsourced litigator list, help contribute to an industry-wide resource to eliminate predatory litigators from the marketing ecosystem, and receive free access to check their calling lists against the database. 

“The abusive act of predatory litigation presents a significant challenge even for those that make every effort to manage their compliance properly,” said Ron Allen, creator of StopLitigators.com. He continues, “Many repeat litigators find ways to intentionally ‘trick’ legitimate entities into making a call that is a violation and then prey upon the company by demanding money, under threat of a class action suit. Further, we often find that no call was ever placed, and the demand is simply sent to many entities in an effort to get money from companies that do not reject the demands out of fear. StopLitigators.com is a way for the contact center industry to cooperatively work together and fight back. I have spent over 30 years in this industry and believe strongly in helping protect it.”

Predatory TCPA litigators are a threat to all legitimate telemarketers. While multiple compliance providers—including Contact Center Compliance, the business behind StopLitigators.com—offer litigator scrub lists based on court filings, not every TCPA plaintiff and litigator shows up in those filings. Sometimes, litigators simply send demand letters, hoping for a settlement, without ever pursuing the sorts of legal action that shows up in court record databases. These demand letters fall through the cracks of the existing systems for cataloging dangerous TCPA litigators. But StopLitigators.com allows call centers and defense lawyers the opportunity to build a better database that includes the litigators and plaintiffs who merely send demand letters.

Call center-related businesses and law firms are allowed to register for free. Access to the free list-scrubbing is given as soon as the registrant’s information is verified. For more information about this database, visit StopLitigators.com and for additional information about and services for TCPA compliance, visit DNC.com.

Stop Litigators & Contact Center Compliance

StopLitigators.com is a crowdsourced database of predatory TCPA litigators. Call centers can utilize this database to eliminate those litigators from their data. It is a new endeavor from Contact Center Compliance, one of the industry leaders in TCPA and DNC compliance solutions for more than 20 years. 

Engaging with customers can be challenging during times of financial concern, but SMS gives businesses and users a mutually beneficial platform to communicate.

Tax returns are days away from being due, with the IRS facing an overload of unprocessed returns delaying payments. Inflation is at a 40-year high reaching 7.9% at the end of February. These current events are making headlines in our country right now, and consumers are starting to feel the effects.

Engaging with customers can be challenging during times of financial concern, but SMS gives businesses and users a mutually beneficial platform to communicate. Companies can reach customers during a season with overwhelming news unfolding on the global stage and here at home with the right tools at your fingertips. SMS is a quick, reliable method for getting information where it needs to go in a highly engaging format. Its benefits extend to almost any industry and businesses of all sizes. SMS for business has countless benefits, and here are seven that your business could start seeing once you integrate this tool into your strategy.

7 Benefits Of Implementing An SMS Plan This Spring

1. SMS has a large audience within reach. 

From ordering groceries and checking in at the doctor to keeping in touch with family long distance and documenting life’s greatest moments, smartphones have become a vital tool in our daily lives. Over 272 million Americans own a smartphone¹ with native messaging capabilities, giving SMS marketers the benefit of direct access to a large audience within seconds. The average screen time is over three hours daily, and users check their phones 58 times per day¹. 40% of millennials look at their devices every 20 minutes¹. An SMS message is hard to miss with statistics like that.

2. SMS is fast.

Large quantities of SMS messages can be delivered within seconds, getting your message into customers’ hands when it’s most critical. Fast delivery rates make SMS one of the most reliable communication channels available between businesses and consumers. Not only are the delivery rates fast, but consumers engage more quickly with SMS than other channels. 95% of SMS messages are read and responded to within three minutes¹! When you have a message that needs to get in front of consumers’ eyes, SMS can be trusted to do so promptly.

3. Consumers engage with SMS.

SMS has limited characters but still blows other popular marketing channels out of the water with its 19% click-through rate. Email (4%) and Facebook (1%) fail to offer what SMS can regarding engagement¹. SMS messages must be clear, to the point, and enticing to customers. Offer a relevant SmartURL™ to valuable content, seasonal promotions, and customized deals and watch customer engagement grow.

4. Customers want to Two-Way Text with businesses.

Customers want a direct line to businesses, so much so that nearly half of all branded messages are responded to by consumers. SMS can make communication quick and convenient for both parties. Whether initiated by the customer or the business, it’s crucial to have Two-Way Texting capabilities open to your team. 45% of consumers proactively reach out to companies via text, and 1-in-3 said they reached out without a response¹. Lack of communication on a business’ part is a frustrating experience for customers and will likely result in parting ways. An easy solution is the make SMS an integral part of your communication efforts and service teams. Learn more about creating an SMS-based customer service team.

5. SMS offers a high ROI.

Retail businesses increased their SMS spending by 56% in 2020¹ and knowing the ROI of your SMS efforts can pave the way for a larger budget. Marketers who track the ROI of their campaigns are more than 1.6 times more likely to receive higher budgets². Tack SMS ROI through opt-out, growth, click-through, and conversion rates. The cost per redeeming subscriber is also an effective tool for gauging campaign performance. Learn more about determining ROI in part two of our SMS Campaign Analytics Guide.

6. Create a loyal following with SMS.

Inflation has shoppers looking for the best bang for their buck. Now more than ever, customers are open to new brands and working with businesses that offer affordable, quality products and services. Reward your customer base and prospects with an SMS exclusive loyalty program. Over half of all consumers said they would opt-in to loyalty programs if offered. In 2020 alone, 50 million customers opted-in to text messages from businesses¹.

7. SMS is cost-effective and accessible for all sizes of businesses.

A successful campaign can outweigh the cost of sending bulk SMS messages to clients. Cut print and postage costs associated with traditional media when sending your campaign through SMS instead. SMS is also accessible to businesses of all sizes. Companies with smaller budgets and teams can communicate with audiences in the thousands or more thanks to the low costs of SMS, sometimes costing as little as a few cents.

Solutions by Text offers a scalable SMS solution that seamlessly fits your current marketing and communication strategy. The team at Solutions by Text understands that your business is unique and will customize a process designed just for your customer base. It’s simple to get started; talk with our team today to get started.

Sources:

¹SMS Comparison

²Hubspot State of Marketing

The CFPB has entered into a consent order with Edfinancial Services, a student loan servicer, to settle the Bureau’s allegations that Edfinancial engaged in deceptive acts and practices in violation of the CFPA UDAAP prohibition.  The consent order requires Edfinancial to pay a $1 million civil money penalty.

According to the Bureau’s findings set forth in the consent order (which Edfinancial neither admits nor denies), Edfinancial made various misrepresentations to borrowers with Federal Family Education Loan Program (FFELP) loans about their eligibility for Public Service Loan Forgiveness (PSLF).  Under the PSLF program, established in 2007, student loan borrowers with qualifying loans who work in public service jobs or for certain nonprofits are eligible for loan forgiveness if they make 120 qualifying payments under a permissible repayment plan.  Unless a FFELP borrower can take advantage of the PSLF limited waiver that was announced by the Department of Education in October 2021 and that expires on October 31, 2022, FFELP borrowers must consolidate their FFELP loans into Direct Loans to be eligible for PSLF and any payments made before consolidating a FFELP loan into a Direct Loan do not count toward PSLF.

The Bureau’s findings in the consent order identify various misrepresentations made by Edfinancial customer service representatives to FFELP borrowers.  Such misrepresentations concerned FFELP borrowers’ eligibility for PSLF, the ability of FFELP borrowers to consolidate their loans, whether payments on FFELP loans would count towards PSLF, whether certain jobs were eligible for PSLF, and the availability of PSLF to FFELP borrowers.

In addition to payment of the $1 million civil monetary penalty, the consent order requires Edfinancial to take various actions including: contacting FFELP borrowers about the PSLF limited waiver; communicating certain information about the limited waiver in incoming calls from FFELP borrowers and through its interactive voice response system: developing and implementing a call script for its customer service representatives to use when speaking with FFELP borrowers, a training program for customer service representatives, and a call monitoring program; and updating its website to provide information about eligibility of FFELP borrowers for PSLF.

In response to the CFPB’s press release about the consent order, Edfinancial released a statement that included the following:

“Edfinancial Services has been providing loan servicing to our clients, including the U.S. Department of Education, for more than 25 years.  We were recently ranked the No. 1 federal student loan servicer by the Department of Education as a result of our commitment to quality.  The Consumer Financial Protection Bureau reviewed loans in our Federal Family Education Loan Program (FFELP) and alleged that our company had deceived or misled some of our borrowers about eligibility in a public service loan forgiveness program, an allegation we strenuously reject.  However, facing protracted and costly litigation that would have distracted us from our day-to-day responsibilities to our clients, borrowers and staff, we have settled the case with the CFPB with a payment of $1 million and agreed to update our training for staff servicing FFELP loans.”

Concurrently with the CFPB’s announcement of the consent order, the Department of Education sent a letter to FFELP servicers in which it described the CFPB’s settlement with Edfinancial and expressed concern that the issues involved in the settlement are not unique to Edfinancial.  The letter reminds servicers that their responsibilities include “actively informing borrowers about available programs for debt relief, any changes to these programs, and providing complete information in response to inquiries and complaints.”  In the letter, ED warns that “[Federal Student Aid] and CFPB can be expected to pursue further oversight of these issues, and every company should take pains to address them at once, so as to avoid penalties or other consequences.”

COLUMBUS, OH –Reliant Capital Solutions has partnered with NC4K in support of Ohio families experiencing pediatric cancer. 

The NC4K Gala

This year’s NC4K Gala will be held on Friday, April 22, 2022, at 6:30 PM at Cosi – Center of Science and Industry in Columbus, Ohio. The annual Gala provides community awareness and funds through sponsorships and ticket purchases which directly assist families and their children dealing with childhood cancer. This magical night will include stories from the NC4K “Heroes” and their families, along with food and drinks, music, a silent auction, and so much more! This is Reliant’s third year as a presenting partner. 

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Amanda Compton, NC4K Executive Director stated, “We are incredibly grateful for Reliant Capital Solution’s support of our 2022 NC4K Gala as our Presenting Sponsor. Their leadership of this event for the third year in a row demonstrates their unwavering commitment to making sure No Kid Fights Cancer Alone. 

Beyond this sponsorship, Reliant steps up time and time again to support kids and families, make NC4K events successful, and bring awareness to our mission. Without them, we could not walk alongside the over 500 families we serve living in or being treated in Ohio. Reliant’s generosity allows us to provide critical financial support, emotional support, and events for play for pediatric cancer families. Their partnership creates a caring community for families and lets them know Reliant is here for them.”

About NC4K

Since 2007, NC4K’s mission has been to support children and their families bravely fighting cancer by providing financial, material, and emotional support. In the last two years, they have distributed over $179,000 to 500 families, welcomed 139 new families, and hosted 19 Events for Play. Please visit www.nc4k.org for additional information on future events, volunteer opportunities, and provisions for donations of toys, school supplies, professional services, or other support. 

About Reliant Capital Solutions

Reliant Capital Solutions is a Gahanna-based, award-winning, woman-owned and operated, accounts receivable management (ARM) company. Owner, Margie Brickner, began business operations 15 years ago and has realized her vision of creating a leading provider of ARM services, offering exemplary customer service for clients and consumers. Reliant provides nationwide service to the higher education, government, healthcare, financial, and commercial industries. Learn more at www.reliantcapitalsoultions.com. 

OVERLAND PARK, Kan. — Drew Anderson has joined NeuAnalytics as Senior Vice President of Business Development, bringing with him over 38 years of financial services industry experience.  

Drew has extensive experience on both the third-party collection agency and creditor/issuer sides of the business. Prior to joining NeuAnalytics, Drew was Chief Revenue Officer for ARS National Service, where he was responsible for operations, client relations and business development.   

Drew’s unique experience running collections departments in banks and business development for a third-party collection agency, lends itself nicely to his new role at NeuAnalytics as our software sits between creditors and their agencies. “I have had the pleasure of knowing Drew for more than two decades” states CEO and Founder Ryan Neuweg. “His integrity and work ethic are absolutely aligned with NeuAnalytics’ midwestern mindset. ‘Say what you are going to do, then do it’. Drew’s extensive experience as both a trusted operator and business partner to the receivables management industry will help NeuAnalytics extend both our Integrated Support Platform (ISP) as well as those who we hope to serve.”  

About NeuAnalytics

NeuAnalytics is the industry leader in operational risk, compliance management and performance analytics.  Our platform provides the world’s leading creditors with comprehensive business intelligence while continuously monitoring for compliance.  With the ability to monitor third-party vendor’s collection activities down to the individual consumer level, our powerful tool ensures creditors of their agency’s compliance with all local, state and federal regulations, while providing the insights needed for strategic performance management.  

http://www.neuanalytics.com