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ADVOCACY GROUPS JOIN TOGETHER TO MAKE COLLECTION RECOMMENDATIONS TO CFPB
- A coalition of 59 different consumer advocate groups, civil rights organizations and legal services have sent a letter to the Consumer Financial Protection Bureau offering suggestions as to how the agency can “more fully address” abuses in the debt collections industry. Those suggestions include having collectors review and have access to original account information, providing that information when filing lawsuits, limiting the number of calls a collector can make to an individual.
FTC BANS COLLECTOR, ASSESSES $500K FINE FOR FDCPA VIOLATIONS
- The Federal Trade Commission has banned the vice president of a collections operation as part of a settlement that was finalized earlier this week. The settlement involves Commercial Recovery Systems Inc. (CRS), its president Timothy Ford, which were accused of running a scam that falsely threatened consumers to coerce them into making collection payments. The defendants were also fined nearly $500,000, which was partially suspended pending a $10,000 payment to be made by Ford.
CFPB MANAGING COUNSEL LEAVES FOR PRIVATE LAW FIRM
- The attorney in charge of the division responsible for the Consumer Financial Protection Bureau’s debt collection rule has left the agency and will join a Washington, D.C., law firm. Thomas Pahl has been named a partner at Arnall Golden Gregory. He will now represent collectors, debt buyers, creditors, and credit reporting agencies.
WORTH NOTING: Yahoo has admitted that hackers stole the data of 500 million users two years ago … What you should do if you are a Yahoo user … Rejection is a necessary part of success. Here is how to say no the right way … An undercover hacker posing as a contractor or a part-time worker was able to access sensitive information 88% of the time, according to a new study … Some of the most bizarre things that flight attendants have seen in the line of duty … Obscene displays of wealth that shock the average American … How to find the next great business idea: look far and wide … The highest-paid actor on TV makes $25 million per year … How much Americans are going to spend on Halloween this year … How Wells Fargo has mis-handled its crisis … A university asked 50 business leaders what they would tell the next president. Here is what they said.
The keys to making the perfect burger, according to Shake Shack
What “American Sniper” got wrong, according to a Navy Seal
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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.
