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Home Daily Digest

Daily Digest – January 26. Local Governments Continue Collections Struggle; Clock Ticking at CFPB

mikegibb by mikegibb
January 26, 2016
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VERMONT LEAVING MILLIONS ON DEFENSE TABLE

  • The state of Vermont is not doing enough to collect on unpaid debts of criminal defendants who use public defenders, according to an audit conducted by the state. The state has collected about one-third of the $3.1 million that was assessed between 2012 and 2014, according to the audit. A lack of resources and personnel were cited as two of the reasons for the low collection percentage.

CLOCK TICKING AT CFPB

  • The CFPB has a long to-do list, including finishing its proposed debt collection rule, and time is short with a presidential election coming later this year. If the Republicans win the White House, it can be expected that a lot of changes to the CFPB are coming, which means the agency has to “pick up the pace” of its rulemaking if it intends to “make a dent” before the election.

ILLINOIS COUNTY DEALING WITH DEADBEATS

  • Macon County, Illinois has brought in another collection agency to help it recoup up to $56 million in unpaid court fines, fees, and judgments. Since August, the collection agency has recovered $256,000 of $43 million it was assigned, a recovery rate of about 0.5%.

WORTH NOTING:A health insurer, Centene, lost six unencrypted hard drives which contained the personal and health records of nearly 1 million customers … Banks in India are asking for criminal charges to be filed against people who can make their loan payments, but choose not to … All-day breakfast at McDonalds is helping boost the company’s bottom line … How using Amazon’s customer service is an identity theft waiting to happen … The four biggest mistakes you are making on LinkedIn … You likely have three times as much stuff as you really need … Huntington Bancshares is spending $3.4 billion to buy FirstMerit Corp. … Why disconnecting from work can be a good thing … Sprint is laying off 2,500 employees, or 7% of its workforce … How Microsoft is planning to beat Google and Facebook … Olive Garden is going to start a delivery service …  Why Super Bowl tickets are 40% cheaper this year … The 10 states that people are fleeing … Netflix documentaries that will make you smarter about business.

Weird state laws

Why a good night’s sleep is important

If you have a tip or item you would like to share, or are interested in sponsoring the Daily Digest, please contact me at mike@canvasbusinessmedia.com.

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