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INDIVIDUALS CARRYING MORE DEBT, NOT PAYING OFF CARD BALANCES: SURVEY
- More Americans are not completely paying off their credit card balances every month, and the number of individuals who have at least a $2,500 balance on their card also increased in 2016, according to the results of a survey conducted by the National Federal for Credit Counseling.
PROSECUTORS SEEK TO BREAK ATTORNEY-CLIENT PRIVILEGE IN PAYDAY LENDING CASE
- Prosecutors are seeking access to the communications between Scott Tucker, a former racecar driver who has been accused of running an illegal payday lending operation, and his lawyer, on the basis that the law firm allegedly helped Tucker commit fraud. Tucker was hit with a $1.3 billion judgment last year by the Federal Trade Commission for deceiving and taking advantage of consumers.
CALIF. TAX COLLECTION AGENCY ACCUSED OF MIS-MANAGAING FUNDS
- It’s not just private collection agencies that can sometimes run afoul of the law. The State Board of Equalization, the state agency in California that is responsible for collecting taxes, has allegedly mismanaged funds and, among other things: informal establishment of a call center, creating an unofficial office location and inconsistent use of community liaisons.
AMOUNT OF HOUSEHOLD DEBT REACHES LEVELS JUST BEFORE GREAT RECESSION
- The total amount of household debt has reached the levels last seen just before the subprime mortgage market crashed and led to The Great Recession nearly a decade ago. The amount – $12.68 trillion – will likely be reached in the third quarter, according to the Federal Reserve Board of New York.
WORTH NOTING: How you can now use cash to pay for things on Amazon.com … The top business book, according to Bill Gates and Warren Buffett … Ten ways to make new employees feel welcomed and productive … Half of all Americans are responsible for 97% of healthcare costs … An example of how ruthless Apple can be … This news just sucks … The job where the pay gap between men and women is the greatest … This news was just ridiculous … North Carolina pulled away from Gonzaga to win the NCAA men’s basketball championship last night.
One of my favorite songs and traditions
Ping pong trick shots
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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.
