Editor’s Note: AccountsRecovery.net is hosting a free webinar on Tuesday, July 26 at 1pm EDT to provide insights and actionable advice to help collection agencies get the most out of their Compliance Management Systems. A top-notch panel of experts has been assembled and everyone should sign up to learn how to put togther an effective CMS. Register here before it’s too late.
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.
BROTHER OF SCOTT LEAWOOD ORDERED TO PROVIDE PROOF OF PAYDAY LOANS SOLD TO DEBT BUYERS
- Joel Tucker, the brother of Scott Leawood, a professional race car driver and payday loan mogul caught up in a $2 billion payday loan scam, has been ordered to surrender to U.S. Marshals after allegedly selling bogus portfolios of payday loans to debt buyers and collection agencies. Three collection agencies – Atlas Acquisitions, Porania and JH Portfolio Debt Equities – had a strong of claims disputed in bankruptcy court by individuals. The claims were all for $390 and the portfolios were purchased through a broker via Tucker, according to authorities. Tucker has been ordered to testify and provide proof of the validity of the debts. Tens of thousands of loans were included in the portfolios that were sold.
TCPA WEBINAR RECORDING NOW AVAILABLE: LAWYERS TALK TCPA COMPLIANCE
- When it comes to trying to contact individuals on their telephones, collection agencies are “swimming in shark-infested waters,” said a lawyer who specializes in defending companies accused of violating the Telephone Consumer Protection Act. “The advice we give is to take as few laps as possible” A collection of lawyers recently participated in a webinar hosted by AccountsRecovery.net and sponsored by WebRecon to analyze what had changed in the industry — and what had not changed — since the Federal Communications Commission issued a declaratory order last July that fundamentally changed how the TCPA was interpreted.
COMPANIES FELL SHORT IN SPOKEO DECISION, LAWYER CONCLUDES
- An interesting analysis of the Spokeo v. Robins Supreme Court ruling that concludes that companies did not get what they were hoping for in the ruling. While the Supreme Court ruled that plaintiffs must show “concrete” harm in order to pursue statutory damages, companies that were seeking a Constitutional amendment that would immunize “corporations from these claims and severely limiting Congress’ power to say who could sue them” fell short and that was the big news, the author concludes.
IS CFPB DOING MORE HARM THAN GOOD WITH PROPOSED PAYDAY LENDING RULE?
- The New York Times steps in and uses the city of Canton, Ohio, a payday lending hotbed, to attempt to analyze the impact of the proposed rule issued by the Consumer Financial Protection Bureau. While consumer advocates claim that payday loans trap individuals in a downward spiral of debt, the industry and other supporters claim that low-income individuals will have nowhere to turn if payday lenders disappear. When payday loans disappear from a given area, demand for them does not, according to one study.
CFPB ANNOUNCES LEADERSHIP CHANGES
WORTH NOTING: Yahoo will sell itself to Verizon for $4.8 billion … Five signs your daily routine needs to be revamped … Eight crazy things cars of the future will be able to do … 24 signs you are a good boss, even if it doesn’t feel like it … The worst cities in the world for rush hour traffic … This was a crazy story from Saturday: a pitcher for the Chicago White Sox did not want to wear special throwback jerseys the team was planning to wear, so he cut them all up with scissors … The Democrats begin their dog-and-pony show today … Banks are putting more money aside to cover potential losses on consumer loans … There was another shooting at a nightclub in Florida … Five ways managers can empower employees … Now you can spin while you ride the bus.
It’s that time of year again: heat waves are becoming deadly
Sometimes, you just have to put up with the stuff I like.
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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.
