Executive Change: Credit Bureau Systems adds Rachel Rea as Director of Compliance

PADUCAH, Ky. – Credit Bureau Systems, a national Accounts Receivables Management (ARM), Specialty Billing, and Business Process Outsourcing (BPO) solutions provider, is proud to announce the addition of Rachel Rea as Corporate Compliance Director.

Rachel Rea isn’t the celebrity cook, television personality, and author you may first think of when hearing her name.  This Rachel Rea graduated cum laude from the University of Louisville before receiving a Juris Doctor degree from the University of Kentucky.  She is a knowledgeable legal and business professional.  “This is an expansion of the commitment we made years ago to compliance,” said Mark Edwards, President and Chief Executive Officer at Credit Bureau Systems.

A member of insideARM’s The Compliance Professionals Forum, ACA International, The Association of Credit and Collection Professionals, Healthcare Financial Management Association, and several other professional and peer groups, Rachel will coordinate and improve compliance oversight and audit for multiple operating divisions.  “We are facing an increasingly complex regulatory environment.  Ms. Rea is part of the next generation of talent that will help us sustain growth while improving quality,” added Lloyd Ledet, Chief Operating Officer.

Credit Bureau Systems announced its second acquisition late 2015 and has plans for more.  Focused primarily in healthcare, insurance, and retail market segments, they continue to seek new client opportunities and potential acquisitions that closely align with their corporate culture.  Compliance remains integral to the delivery of customer-oriented billing, collection, and credit-related services that positively impacts the financial well-being of clients and customers they serve.

About Credit Bureau Systems, Inc.

A national accounts receivables management, specialty billing, and business process outsource company operating since 1952, CBS clients span twenty three states today.  Services ranging from medical coding, account billing, debt collections, insurance follow-up and customer outreach are delivered by functionally aligned divisions using six contact call centers.

 

Executive Change: Credit Bureau Systems adds Rachel Rea as Director of Compliance
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Accounts Receivable Management

RevSpring Makes the Holiday Brighter for Children and Families

WIXOM, Mich. – Celebrating this season filled with generosity, team members in RevSpring’s family of companies from across the country worked together to make the holidays a little brighter for many children and families.

Collectively, the team contributed more than $20,000 in charitable donations including:

  • Nearly 800 toys to Toys for Tots to provide gifts for children who otherwise might have faced an empty tree on Christmas morning
  • More than 25,000 meals were donated to food banks in Mich., N. J., and Penn., with the donation in Mich., being multiplied by a matching gift from Ford Motor Company
  • $9000 donation to ARMing Heroes to assist veterans struggling with past due receivables
  • $2000 donation to the Susan G. Koman Foundation
  • Homemade baked goods to the Trenton Area Soup Kitchen

“The true meaning of the holiday spirit has been embodied by the generosity of our entire team,” said Tim Schriner, president and chief executive officer of RevSpring. “I am proud of the efforts made to ensure a memorable holiday for many children and families in need.”

RevSpring Toys for Tots 12.15

 

About RevSpring

RevSpring’s core service offerings include data hygiene and analytics, secure document creation and delivery, multi-channel communications, electronic billing and archival services and online payment tools, all while ensuring compliance with regulatory guidelines. RevSpring holds multiple security certifications including PCI DSS Level 1, HIPAA/HITECH and SSAE 16 SOC 2 and maintains rigorous legislative and regulatory compliance programs. It serves a large and diverse customer base across the healthcare, receivables management, financial services, insurance, home services and other end-markets. Its family of companies includes TalksoftRevenue AdvantageTECH LOCK and Healthcare Revenue Strategies. To learn more visit www.revspringinc.com.

Contact:

Heather Taylor
765.730.6632
htaylor@revspringinc.com

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Accounts Receivable Management

FTC Adopts Procedures for Administrative Collection of Debts Owed to the FTC

The Federal Trade Commission has approved amending language in its Rules of Practice that applies to the collection of outstanding debts owed under FTC orders and judgments.

The final rule amendments to Part 1 of the Commission’s Rules of Practice formally adopt government-wide Federal Claims Collection Standards and other applicable procedures for collecting delinquent debts by certain authorized administrative methods. The amendments address the U.S. Department of the Treasury’s collection of debts owed to the FTC through deduction of funds from certain federal payments and federal tax refunds.

The Commission vote to issue the Federal Register Notice setting forth these amendments to its Rules of Practice was 4-0; (FTC File No P072104). The staff contact is Stephen Dowdell, Enforcement Division, Bureau of Consumer Protection, 202-326-2814.

insideARM Perspective

While this particular notice relates primarily to administrative offsets, wouldn’t it be ironic if the FTC used third party debt collectors to collect debts owed the Commission, and learned of the many obstacles to collections created by its own rulings? One could only hope.

FTC Adopts Procedures for Administrative Collection of Debts Owed to the FTC
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Accounts Receivable Management

BFrame Enhances Department of Education Student Loan Rehabilitation Software

DULUTH, GA — BFrame today announced enhanced software features to support new student loan rehabilitation program requirements dictated by the Federal Government and improve customer efficiency. The new fully-featured, all-inclusive rehab tracking, funding and built in tools help customers both manage and streamline their student loan recovery processes.

New federal calculators built right into the system enable agents to work with borrowers quickly and easily to obtain accurate monthly payments for rehabilitation. Fully audited and includes all of the most current requirements for FISC and Fifteen Percent calculations. The module also tracks all aspect of the rehabilitation process including documents, ROL paperwork, letters and reviews.

Additional enhancements to reporting have been implemented into the system for late payments, missed payments, gap reports and funding reports. The numerous enhancements in addition to a fully FISMA and FED Ramp compliant infrastructure give agencies a turn-key solution for meeting all technical and physical requirements set forth by the US Department of Education and other Student Loan Guarantors.

“We continuously upgrade our software to support the changing needs of our customers, including any features required to ensure compliance with application regulations,” said BFrame CEO Eric Bentz. “One of the key benefits of our cloud-based software approach is our ability to easily upgrade the software so that our clients get the improvements more quickly and with less effort.”

The student loan rehabilitation enhancements are being made part of the base BFrame system. BFrame users will automatically get the upgrades at no additional cost.

About BFrame

Founded in 1990, BFrame is a leading provider of collections and accounts receivable management software for collection agencies, debt buyers and credit grantors. The BFrame Recovery Management System is rock-solid hosted or licensed software that is easy to implement, easy to use and easy to pay for. Its feature-rich browser interface provides a powerful, flexible and user-friendly front-end to an industrial strength debt collection and recovery management system. System modules include collections, recovery, agency management, buy/sell management and SQL query tools.

More than 3,000 collection and recovery agents use the BFrame system in daily collection operations, with approximately 20 million accounts processed each day. For more information, or to request a personalized product demonstration, visit the BFrame web site at www.bframe.com, or email sales@bframe.com.

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Executive Change: Leading Financial Services Lawyer Joins Covington to Lead CFPB Group

Washington, DC – Covington announced that Eric Mogilnicki has joined the firm as a partner in its Washington office and will co-chair the firm’s new Consumer Financial Services practice. Andrew Smith, who served as a senior financial services lawyer at the Federal Trade Commission prior to joining the firm, will also lead the newly formed group.

Combining his four years’ experience at the center of some of the nation’s most critical public policy debates and his more than 20 years of experience advising and representing financial institutions, Mr. Mogilnicki focuses his practice on assisting clients with Consumer Financial Protection Bureau (CFPB) investigations, examinations and enforcement actions. In addition to his extensive experience in private practice, Mr. Mogilnicki previously served as chief of staff to Senator Edward Kennedy when the Bureau was designed and has been a leader within the private bar on CFPB issues since its inception. His CFPB experience includes counseling clients facing informal requests for information from the Bureau to providing financial institutions and other interested parties with product reviews, mock examinations and other guidance prior to the commencement of CFPB examinations, representing entities in responding to CFPB civil investigative demands, negotiating consent orders with the CFPB, and assisting financial institutions in complying with CFPB consent orders.

“The combination of Eric’s very visible and successful CFPB enforcement experience with Andrew Smith’s prominence on consumer financial services advisory and policy matters positions Covington as an industry leader in the consumer financial services space,” said John Dugan, chair of the firm’s Financial Institutions group and former U.S. Comptroller of the Currency. “As the CFPB is coming of age, we now have critical mass of experience in significant CFPB enforcement and advisory matters in a very active area for financial services providers.”

Prior to entering private legal practice, Mr. Mogilnicki served as Assistant Attorney General in the Massachusetts Attorney General’s Office from 1987 to 1991. During that time, he engaged in trial and appellate practice in federal and Massachusetts courts. Prior to law school, he served as a legislative assistant to U.S. Representative Gerry Studds. Mr. Mogilnicki received his B.A. and J.D. degrees from Yale University.

“Covington presents a wonderful opportunity to build a more substantial CFPB enforcement practice at a key point in the evolution of the agency’s activities,” said Mr. Mogilnicki. “The depth of Covington’s regulatory subject matter expertise, counseling practice, and related enforcement experience is unmatched, and I look forward to helping the firm build its practice further in this area.”

Covington has long advised financial institutions and non-financial companies on compliance with consumer protection laws and regulations governing financial products—from marketing and origination to servicing and collection of consumer financial products, as well as investigations, examinations, and enforcement actions. The firm’s representation of clients before the CFPB is informed by its deep experience with the banking agencies and the Federal Trade Commission. The firm counsels clients in many sectors, including banks, technology providers, finance companies, credit bureaus, payment processors, financial industry trade associations, retailers, and telecommunications companies.

Executive Change: Leading Financial Services Lawyer Joins Covington to Lead CFPB Group
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Executive Change: The CMI Group Announces New Vice President Business Development

The CMI Group of Carrollton, TX is proud to announce the addition of Jim Lezzer as Vice President of Business Development. Mr. Lezzer comes to CMI with nearly 10 years of experience in healthcare revenue cycle management. He’s spent years on both the selling and implementation sides of business development. As a result, he seeks to understand the challenges that the client is facing, craft simply-effective solutions, and ensure that they deliver quick and measureable results.

Jim is a graduate of Rider University with a Bachelor of Science in Accounting & Finance. He is a member of HFMA and an advocate for the financial health of hospitals and healthcare organizations.

Having held previous leadership positions within the healthcare industry, Jim will bring valuable insight and knowledge as we seek to broaden service to our medical clients and will continue to offer leading edge products and services to all our clients. In his role as V. P. Business Development, Mr. Lezzer will be responsible for sales, marketing and new product development.

About The CMI Group

The CMI Group provides industry leading ARM and BPO services including 3rd party collections, 1st party receivables management and customer service, and debt purchase and warehousing programs. Established in 1985, CMI has more than 30+ years’ experience and possesses a track record of exceeding the expectations of our clients and their consumers.

Please learn more about The CMI Group by visiting our website at www.thecmigroup.com.

 

Executive Change: The CMI Group Announces New Vice President Business Development
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Accounts Receivable Management

Payment Processing Firm Sued for Credit Card Laundering, Aiding Debt Relief Scam

The FTC and the State of Florida on Friday charged a payment processing business with credit card laundering and illegally assisting and facilitating a nationwide debt relief telemarketing scheme that allegedly bilked millions of dollars from consumers.

Retail Giant to Consolidate Credit Call Centers

Macy’s has announced plans to consolidate four credit and customer service center facilities into three, resulting in 4,800 job cuts for the Cincinnati-based retail giant.

CFPB Names New Temporary No. 2

While it searches for a permanent deputy director, the Consumer Financial Protection Bureau has named David Silberman to serve as its acting No. 2 starting next week.

Community Banks See New Opportunities in Payroll Lending

A number of community banks, eager to make inroads with underbanked clients, are looking to offer employer-sponsored payroll loans.