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FTC CHAIRWOMAN ANNOUNCES RESIGNATION
- Edith Ramirez, the chairwoman of the Federal Trade Commission, announced her resignation on Friday, effective Feb. 10. Her resignation likely signals the shift to a Republican head of the agency, which, among other things, is charged with enforcement of the Fair Debt Collection Practices Act. The resignation also drops the number of commissioners at the FTC to two. Maureen Ohlhausen, the lone Republican commissioner, is seen as a likely replacement for Ramirez.
SUPREME COURT TO HEAR ARGUMENTS IN HENSON v. SANTANDER FDCPA CASE
- While it is expected to hear arguments today in an important debt collections case, the Supreme Court also announced on Friday that it will also hear arguments in Henson v. Santander Consumer USA, which will determine whether debt collectors that attempt to collect debts after purchasing debts that are in default are defined as “debt collectors” under the Fair Debt Collection Practices Act.
DEBT COLLECTOR UP FOR HORSE OF THE YEAR
- For those of you who kept updated last year on the progress of Debt Collector, a racehorse running in Singapore, you will be happy to know that he is up for horse of the year.
CFPB RELEASES STUDY ON DEBT MARKETPLACES
- When it released its report about the results of its survey of consumers on debt collection practices, the Consumer Financial Protection Bureau also released a report analyzing data it collected from several sites, including AccountsRecovery.net, on the debt buying market. The conclusion reached by the CFPB is that the price of some portfolios, considering the quantity of accounts included, is so low and the ease of buying and selling portfolios online increase the risk of sensitive consumer information will fall into the wrong hands.
WORTH NOTING: Just eight days before it was set to expire, a man found a $1 million lottery ticket while cleaning out his office … General Motors will announce plans to invest $1 billion and create 1,000 jobs in the U.S. … More Americans believe they will die debt free … The right richest people in the world — all men — have as much wealth as the bottom 50% of the rest of the world … The top mistake that ensures your email will be ignored … The latest trick that hackers are using to get access to your bank accounts … President Obama’s reading list … Here is a list of Democrats planning to boycott Friday’s inauguration ceremonies … More people are eating crickets.
Will we ever get enough of Alec Baldwin as Donald Trump?
How to break $600 worth of hockey sticks
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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.
