CORDRAY OVERLOOKS DEBT COLLECTION RULE
- Whether accidental or otherwise, Richard Cordray, the director of the Consumer Financial Protection Bureau, failed to mention the proposed rule on debt collection being worked on at the agency during testimony before the House Financial Services Committee when prompted for a list of rules that the CFPB expects to issue in 2016. The hearing was incredibly partisan, with many brusque exchanges between Cordray and the Republicans on the Committee.
HOSPITALS PERFORMING MORE CREDIT CHECKS
- Hospitals are increasingly turning to credit checks when determining a patient’s ability to pay, both before sending bills and if those bills are not paid. While it does not appear that the hospitals are making healthcare decisions on a patient’s ability to pay yet, it is easy to see where credit checks could one day become part of the process in determining how patients are treated.
CREDIT DEFAULT RATE REMAINS UNCHANGED
- Credit default rates were largely unchanged in February, according to data released by Standard & Poor’s and Experian. Defaults on bank cards saw the largest monthly increase, while the default rate on auto loans and mortgages were largely unchanged from January.
WEBRECON REPORTS SPIKE IN NUMBER OF AGENCIES SUED
- There was a spike in the number of collection agencies sued in February, according to data released yesterday by WebRecon. The number of agencies sued for violations of the FDCPA, TCPA, and FCRA increased by 26%
WORTH NOTING: An app that helps with bad customer service … Donald Trump backed out of a presidential debate … Five ways you’re wasting time without knowing it … Visualization might be your missing ingredient for success … Where Merrick Garland, the new nominee for the Supreme Court, stands on small business issues … The Federal Reserve Board opted to not raise interest rates yesterday, but still expects rates to be raised at least twice in 2016 … Consumer Reports named its list of the worst vehicles … Making $100k a year selling bananas … SeaWorld to stop breeding killer whales … Design your time rather than manage it.
What happens when you try to fold paper more than seven times with a hydraulic press
A baseball player retired because his son wasn’t allowed to hang out in the clubhouse
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.
