TrueAccord

What do canceled hair appointments and increased lipstick and beer sales have in common? These untraditional indicators, among other discretionary expenditure trends, often show consumer sentiments around finances well before a recession hits. Coming out of 2024, the average U.S. household owed $11,303 on credit cards, and while credit card charge-off rates and delinquencies both declined slightly, experts are not declaring a definitive turnaround given the ongoing economic uncertainties and high balances....

Q1 Industry Insights: Started Strong, But “Considerable Turbulence” Leaves Consumers on Edge - TrueAccord Blog Insights from TrueAccord on the state of consumer finances and the debt collection industry.

Efficiency, accuracy, and compliance are critical in the fast-paced world of debt collection. TrueAccord, a leader in digital-first debt collection, is leveraging Robotic Process Automation (RPA) bots to transform the industry and improve operational efficiency, compliance efforts, and customer experience. At TrueAccord, we're not just collecting debt; we're revolutionizing the process with this kind of cutting-edge technology. These aren't your average macros; they're sophisticated software tools that automate repetitive tasks, freeing up our team to focus on more complex and strategic work....

Leading the Way with RPA Bots: How TrueAccord Uses Technology and AI to Ensure Compliance, Consumer Preference, and Optimal Debt Collection Results - TrueAccord Blog How TrueAccord uses Robotic Process Automation RPA bots ensure compliance, consumer preference, and debt collection results.

In today’s world, connecting with consumers requires more than just making a phone call or sending a standard email, especially in the realm of debt recovery and collection. Navigating through the various strategies often feels like wading through a sea of acronyms and buzzwords. Terms like AI, machine learning, and data science can quickly become overwhelming or even feel interchangeable, leaving you unsure of what they actually mean and how they affect your business and bottom line....

Breaking Down Buzzwords: Understanding Digital Debt Collection Keywords & Terms - TrueAccord Blog Glossary of key terms, definitions, and examples to help break down and clarify buzzwords in the digital debt collection landscape.

In today’s digital communication landscape, businesses—especially those that use digital outreach to engage delinquent consumers to collect debts—are facing increasing pressure to ensure they respect consumers opting out of communications from a particular channel. While the word "STOP" has been a widely recognized method for consumers to unsubscribe from text messages, the reality is that consumers may express their desire to opt out in various ways....

Beyond the Word “STOP”: Why Businesses Need to Expand How Consumers Can Opt-Out of Communications - TrueAccord Blog As consumer expectations and regulatory requirements evolve, businesses must be proactive in managing opt-out requests.

The Federal Communications Commission (FCC) is seeking public input on identifying FCC rules for the purpose of alleviating unnecessary regulatory burdens. In a public notice released March 12, 2025, the FCC announced the Commission is seeking comments on deregulatory initiatives to identify and eliminate those that are unnecessary in light of current circumstances. The FCC notice stated: “in addition to imposing unnecessary burdens, unnecessary rules may stand in the way of deployment, expansion, competition, and technological innovation.” Reply comments are due by April 28, 2025....

FCC Orders to Take Effect While Comment Period to Identify Burdensome Rules Opens - TrueAccord Blog Learn about two FCC Orders that both impact the debt collection industry from TrueML Technologies expert Kelly Knepper-Stephens.

Debt collection is a complex, evolving industry, and compliance with the myriad of federal, state, and local laws is an ongoing challenge for organizations in the field. These laws create a "patchwork" of rules and regulations that can vary widely depending on the jurisdiction, presenting challenges for those trying to maintain compliance and provide effective, consumer-friendly services. Layers of Laws and a Patchwork of Regulations: Federal, State, Local…...

Keeping Up with Compliance in a Patchwork of Regulations - TrueAccord Blog Understand the layers of federal, state, and local laws impacting debt collection is an ever-evolving challenge for businesses in 2025.

Striving to deliver positive consumer experiences is not just a best practice—it is becoming a more prominent component of compliance in debt collection, especially when it comes to consumer communication. As consumer preferences have shifted toward digital channels, the success of a business’s debt recovery operation (whether in-house or outsourced to a third-party agency) hinges on engagement through online platforms, emails, and text messaging....

The Dangers of Dark Patterns in Digital Communication for Debt Collection and Best Practices to Avoid Them - TrueAccord Blog What are "dark patterns" in debt collection? What are risks and consequences? Learn how TrueAccord avoids dark patterns for better results.

Over the past several years, federal and state regulators have started raising red flags about a significant trend in the debt collection industry: companies failing to deliver positive experiences for consumers or properly manage complaints and disputes. With growing scrutiny from agencies like the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and even the White House, it's clear that ensuring a good consumer experience is no longer just a best practice—it’s a compliance requirement…...

Balancing Compliance and Consumer Experience in Digital Debt Collection: Best Practices to Navigate the 2025 Landscape - TrueAccord Blog Insights into how TrueAccord is revolutionizing the debt collection industry.

Keeping up with compliance in the debt collection industry can be a challenge—especially as artificial intelligence, machine learning, and other advanced technologies sweep through both the business and consumer sectors. In a webinar on January 29, 2025, industry experts Kelly Knepper-Stevens, TrueML Chief Legal Officer; Katie Neill, TrueAccord General Counsel and Chief Compliance Officer; and Lauren Valenzuela, Retain by TrueML Products General Counsel and Chief Compliance Officer, shared insights from 2024 and influences on 2025....

Legal & Compliance Webinar Recap: Key 2024 Takeaways That Impact the Collections Industry in 2025 - TrueAccord Blog What do 2024’s compliance updates mean for 2025? Discover the key takeaways that impact the debt collections industry from the experts.