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DECA FINANCIAL SERVICES OWNER SENTENCED TO FOUR YEARS IN PRISON
- Todd Wolfe, the founder of Deca Financial Services, has been sentenced to at least four years in prison and must repay $5 million after pleading guilty to charges of bank fraud and bankruptcy fraud. Wolfe was sentenced yesterday in Indianapolis. He pleaded guilty to the charges in late January.
AGENCY OWNER CHARGED WITH DIVERTING MILLIONS OF DOLLARS IN UNREMITTED PAYMENTS
- The owner of Credit Specialty Service, a collection agency based in Acton, Calif., has been arrested and charged with stealing millions of dollars from its clients. Charles V. Stanley, Jr., was arrested earlier this month. His firm is accused of collecting on debts on behalf of a number of creditors, but under-reporting the amount collected. The agency, CSS, filed for bankruptcy protection last year.
HOUSE BILL WOULD SUBJECT CFPB TO CONGRESSIONAL BUDGET PROCESS
- The House Appropriations Committee has released a bill that would require the Consumer Financial Protection Bureau, among other regulatory agencies, to have its budget approved by Congress, instead of being allocated by the Federal Reserve Board. Published reports said the bill is likely to become law because it is considered to be “must-pass” legislation.
AGENCY RELEASE HANDBOOK TO HELP WITH COLLECTION RULES IN DIFFERENT COUNTRIES
- Atradius Collections, a collection agency that operates in more than two dozen countries around the world, has released its annual handbook that provides information about debt collection rules and regulations in 44 different countries, including the U.S. The handbook explains the different stages of amicable settlement, laws around collections, legal proceedings and insolvency procedures.
WORTH NOTING: A baseball player made it one inning into his Major League debut before hurting himself and will now miss the rest of the season … What the Obamas have been up to since leaving office … What it takes to launch the nation’s most expensive 4th of July fireworks display … How an employee rigged lotteries … How to get the best WiFi at home … Which parts of the United States will suffer the most from climate change … Seven habits you need to kill to be a better leader … Six habits that took titans to the top of their industry.
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The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.
