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INDUSTRY APPLAUDS CFPB DECISION ON DEBT COLLECTION RULE
- Reaction to the announcement made by the CFPB Thursday regarding its proposed debt collection rule has been overwhelmingly positive, although there are some concerns that while this is a short-term gain for the ARM industry, there is a potential for problems in the long-term. By combining third-party and first-party with respect to the verification and validation component of its proposal, the CFPB took to heart what it had been hearing from the industry for nearly a year, said Joann Needleman, a partner at the law firm of Clark Hill and leader of the firm’s Consumer Financial Services Regulatory & Compliance Practice Group.
STUDENT LOAN BORROWERS NOT ENROLLING IN REPAYMENT PLANS; THOSE WHO DEFAULT VERY LIKELY TO DO SO AGAIN
- Student loan borrowers are not enrolling in repayment plans at an alarming rate and half of borrowers who have defaulted once default again within three years, according to data compiled and released by the CFPB. Three quarters of those individuals with two defaults did not make a single student loan payment, according to the data.
WORTH NOTING: Why you need to be careful if you’re planning on buying a house … What the worst LinkedIn profiles have in common … The three things you need to train yourself to do if you want to succeed … An extra 30 minutes of sleep will make a huge difference in your day … And help you earn more money … “Summer” Fridays are a thing now at most companies … The CEO of GE is stepping down … Fifteen signs your co-worker is a psychopath … A fired federal prosecutor is sounding off about his “weird” interactions with President Trump … Gas prices are likely to keep falling.
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Reviewing Apples’s new iPad Pro
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The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.
