CFPB changes, digital compliance, and our latest innovations

October's bringing some interesting developments our way. The U.S. is seeing a rise in household debt and fluctuating consumer confidence levels.

Meanwhile, the Consumer Financial Protection Bureau 's recent move to remove medical debt from credit reports is reshaping the landscape for companies in the medical debt space.

This CFPB rule might seem daunting at first glance, but it's actually opening doors for innovation. The key?

Adapting proactively and treating patients as partners in the financial process. It's all about building trust, not leveraging credit.

Consumers increasingly prefer digital channels, which presents a unique opportunity for collections teams to boost efficiency through email and SMS.

To make the most of these channels, it's crucial to stay compliant with regulations. Don't forget to check out our Compliance checklist for collecting payments through digital channels.

Updates from Prodigal

Prodigal's been evolving rapidly. We're now offering intelligence to enhance your collection efforts across both digital and voice channels.

Imagine pinpointing the right time, channel, content, frequency, and payment plan to maximize your collections. Pretty cool, right?

Accelerate your omnichannel collections with us.

We're also proud to share that we uphold the highest federal standards in data security, including IRS 1075 compliance.

This means agencies handling federal and state taxes can count on us for top-notch data security. Our track record in compliance offers peace of mind while helping you optimize collection outcomes.

Interested in elevating your tax collection efforts with confidence and security?

Let's chat about how we can support you.