FREE WEBINAR TODAY!: Pre-Litigation Demand Letters: The Industry’s Version of a Stick-Up. Tuesday, November 29 at 1pm EST, Sponsored by WebRecon. Join Tim Collins, Kelly Knepper-Stephens, and Charity Olson as they share their advice and best practices in how to deal with pre-litigation demand letters. For an industry where compliance and legal costs are only going up, this event is a must-attend for everyone. REGISTER HERE
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TRUMP NAMES PAIR OF ANTI-REGULATION ADVOCATES TO LEAD FCC TRANSITION TEAM
- President-elect Donald Trump named two men to lead the transition team for the Federal Communications Commission yesterday and it appears that one of them has been highly critical of current FCC Chairman Tom Wheeler and both of them have taken positions opposite to some of the largest decisions made by the regulator. What this means for potentially undoing changes to the Telephone Consumer Protection Act remains to be seen, but quotes about the pair indicate that they want to rely more on “market forces” instead of regulation and that President-elect Trump is “serious about communications policy reform.”
ACA REPORT SATS CFPB IS ‘SUBSTANTIALLY’ UNDERESTIMATING COSTS OF COMPLYING WITH COLLECTION PROPOSALS
- Collection agencies are looking at significant increases in their expenses if the Consumer Financial Protection Bureau moves forward with its proposals to regulate the collection industry, according to the results of a survey conducted by ACA International. For example, the cost to print and mail one additional page of paper with each collection notice — a statement of rights that the CFPB proposed when it published guidelines for the SBREFA meeting held back in August, will cost collection agencies $95,405 per year, according to data supplied by members of ACA International that responded to a survey request back in August. ACA sent the survey out to all 6,210 members, 446 of which responded.
PAINTING THE INDUSTRY WITH A VERY NEGATIVE BRUSH
- Another so-called “expert” has come out and expressed concerns that “guys with guns” are going to pop up everywhere if President-elect Donald Trump either weakens or does away with the Consumer Financial Protection Bureau. The government had not done enough to protect consumers prior to the creation of the CFPB and now, all of that progress has been “imperiled.”
WORTH NOTING: “Anger” rooms are becoming more and more popular, especially during the election season … The fastest way to grow your business is hiding in plain sight … More than half of Americans (count me in that group, too) are worried they will never be able to retire … How to read your customers’ minds … A plane carrying a Brazilian soccer team crashed in Colombia last night … What happens inside an Amazon fulfillment center on Cyber Monday … The NFL has no plans to stop playing on Thursday nights … Cyber Monday sales were 9% higher this year than last year, according to initial estimates … The five habits you must develop if you want to become a millionaire.
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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.
