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WHAT HAPPENS WHEN YOU GO TOE-TO-TOE WITH THE CFPB
- A pair of lawyers from the law firm of Venable LLP have outlined how financial institutions can settle or negotiate with the Consumer Financial Protection Bureau if the CFPB launches an investigation against an organization. The article also outlines the settlement priorities for the CFPB, including the preference for a public settlement, and a desire to control the timing and and publicity of settlements, among others.
WHAT HAPPENS WHEN YOU BORROW MONEY IN RUSSIA
- The New York Times has turned its attention to the debt collection problem in Russia, turning its massive spotlight on the violent tactics that have been reported for months as more and more citizens are having problems paying their debts. The violence is especially problematic for people who take out small loans akin to payday loans. The Russian Parliament is considering a ban on collection agencies across the country as an attempt to curb the violence, which has included firebombing, sexual assaults, and threats of blowing up children.
WHAT HAPPENS WHEN YOU BORROW MONEY FROM SOMEONE AND THEN USE IT TO GO ON VACATION
- The unpredictability of the Consumer Financial Protection Bureau is one of the reasons cited in a Harvard study that is keeping credit card lenders from issuing more cards. The regulations on credit card lenders have increased 250% and the study calls for a number of regulatory changes, including repealing some of the restrictions against risk-based pricing, and reforming the CFPB to better balance consumer protection and access to financial products.
WORTH NOTING: America’s love of sandwiches is on a roll … Why the 9-to-5 workday should no longer apply … President Obama’s economic disappointment … The best cities for small businesses … Do celebrity endorsements help or hurt presidential candidates … Quarterbacks went 1-2 in the first round of the NFL draft last night while a video of a top prospect smoking marijuana probably cost him millions … An at-work relationship cost the CEO of Priceline his job … Why pleasing your boss should be your lowest priority … America’s youngest workers may be the least stable generation on record … Amazon CEO Jeff Bezos made $6 billion in 20 minutes yesterday … Four tools that make your small business look big … The amount of unpaid taxes averaged $458 billion, according to the Internal Revenue Service … 15 of the healthiest fast food menu items.
What sitting all day does to your body
This guy made a homemade hover bike
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The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.
