On February 2, 2025, Punxsutawney Phil saw his shadow, predicting six more weeks of winter. The yearly ritual took place at Gobbler’s Knob in Punxsutawney, Pennsylvania. Those pining for Spring need not despair, however, as studies have shown that Phil is only 36% accurate.  

Parka weather or not, I hope that everyone is staying active and getting outside to enjoy the snow or whatever cold weather activities you partake in. 

Is it too early to think about summer?

We know, we know… it’s not even March and we’re already talking about summer? Well of course! If you continue reading, you’ll see that Yinze and Landen our out running marathons across Arizona (ok, maybe not across)

Finance Team Runs in the Mesa Marathon

Super proud of Cascade365 Finance Team Members, Yinze Li and Landen Means who completed a half marathon in the Mesa Marathon event earlier this month. A half marathon is a road running event of 13 miles and these two started their day at 5:00 AM to run with hundreds of participants in the streets of Mesa, AZ.  I am sure that they are eager for the challenge of running a full marathon (26 miles) in the 2026 event. 

Cascade365 at RMAi

Members of the Cascade365 team attended the Receivables Management Association International (RMAi) conference earlier this month.  RMAi is a nonprofit trade association which represents more than 700 companies that support the purchase, sale, and collection of performing and nonperforming accounts receivable. 

As a certified member of RMAi, Cascade365 sends several of its team members to this event to stay current on key industry topics, attend re-certification classes, network, and meet with industry colleagues.  

One of the key events that occurs during this conference is Cascade365’s annual agency reception where many of our agency partners, who service the AR that Cascade365 acquires, are in attendance.  The Compliance and Operations teams present key results from the prior year and distribute agency awards related to top performance and compliance.  We are grateful to RMAi for being in the forefront and lobbying on behalf of our industry, and thankful for each of our agency partners and all their efforts.

By: Shaun Ertischek, Esq., Chief Compliance Officer and General Counsel 

As calendar year 2025 gets into full swing, the accounts receivable management and medical debt collection industries continue to be very active subjects of regulation, legislation, and litigation. 

The most notable change is the deregulatory climate on the federal level and changes at the governmental agency which regulates consumer protection in the financial sector – the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”). The new presidential administration fired CFPB Director Rohit Chopra and, on January 31, appointed Treasury Secretary Scott Bessent as its Acting Director. He proceeded to pause all rulemaking and enforcement activity at the Bureau. 

On February 7, President Trump subsequently appointed Russell Vought, Director of the Office of Management and Budget (OMB), to be the CFPB’s new Acting Director. Acting Director Vought then instructed CFPB employees to cease all supervision, investigations, enforcement, rulemaking, and stakeholder activities. Among other things, he announced an intention to lay off employees and return the agency’s funding to the Federal Reserve. These efforts were temporarily blocked in U.S. District Court for the District of Columbia and continue to be the subject of litigation. 

On February 11, President Trump nominated Jonathan McKernan, who served on the Federal Deposit Insurance Corporation (FDIC) board, to be the new permanent Director of the CFPB. Senate hearings on his nomination are expected to commence soon. 

Additionally, there are multiple lawsuits pending against the CFPB related to its medical debt advisory opinion and its medical debt credit reporting rule. The U.S. District Court for the Eastern District of Texas granted a preliminary injunction which stayed the credit reporting rule from becoming effective until at least June 15, 2025. There is a chance that the CFPB could formally pull back the rule before further action takes place in the litigation. Congress may also strike down the agency rule through the Congressional Review Act. In fact, there is presently a campaign to urge leaders from the Senate Banking Committee and House Financial Services Committee to support a Congressional Review Act resolution to overturn the CFPB’s medical debt credit reporting rule. Moreover, there is other legislation to limit the CFPB being introduced in both the House and Senate. 

State legislatures and regulatory agencies in several states have signaled that they may pick up the mantle from the CFPB, due to a lack of federal involvement, to further regulate medical debt credit reporting and debt collection activities in their respective states. 

Nevertheless, Cascade365 continues to strengthen its compliance management system. It is in the process of implementing a new compliance scorecard for its outsourced collection network and recently released Kind Systems™ 2.0, an upgraded version of its proprietary compliance interface platform which tracks licensing, insurance, complaints, and lawsuits, which now has a new onboarding and audit module included. 

This year will certainly be a noteworthy one for our industry and Cascade365 continues to stay on top of all legal and compliance developments to ensure a best-in-class experience for our clients, consumers, patients, and vendors alike.

SOC 2 Type 2 Compliance Renewal

Cascade365 is excited to share that we have achieved renewal for the 3rd straight year of our SOC 2 Type 2 Compliance. SOC 2 is the security framework that specifies how organizations should protect customer data from unauthorized access, security incidents, and other vulnerabilities.

The American Institute of Certified Public Accountants (AICPA) developed SOC 2 around five Trust Services Criteria: Security, Availability, Processing Integrity, Confidentiality, and Privacy. Cascade365 is committed to compliance, security, and proactive measures to protect your data and maintain your trust.

Highway to the Cascade Zone!
2024 Music Video!

You caught us, we shared this last month. But if you made it this far you must be a Cascade365 eBlast Super Fan so, as a token of our gratitude, we’ve included our hit song “Highway to the Cascade Zone” Year in Review video and celebrate everything we accomplished together! Enjoy!!!

The Cascade365 Family of Companies is a brand identity representing a family of companies focused on the responsible liquidation of accounts receivable. Headquartered in the San Francisco Bay Area, Cascade365 is a recognized leader in the accounts receivable management, revenue cycle, and specialty finance industries. Cascade365 offers healthcare providers and consumer lenders immediate and ongoing liquidity by purchasing distressed accounts receivable outright or managing them for a fee.