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EDITOR’S NOTE: AccountsRecovery.net launched its first-ever Compliance Survey. You can participate by clicking here. The survey is sponsored by WebRecon, TECH LOCK, LiveVox, Interprose, and Applied Innovation.
IT’S WEBINAR DAY!: Join a trio of seasoned professionals as they help you navigate the choppy waters of communication compliance and share their tips to develop effective communication strategies. Getting in touch with individuals has never been more important and never been more complicated. Register now for this webinar, which will be held TODAY at 1pm EDT and is sponsored by VoApps.
SENATOR INTRODUCES DEBT BUYING LEGISLATION
- Sen. Mark Warner [D-Va.] introduced legislation on Friday that would clarify that loans made by banks are allowed to be resold and collected on by non-bank entities at the same interest rate. The bill is a follow-up to a Appeals Court decision in the case of Madden v. Midland Funding, which ruled that a federal pre-emption that allows banks to charge an interest rate of the state in which they are based instead of the maximum interest rate allowed by each individual state, does not apply to companies that purchase the loans from the banks.
HOW TO UPDATE THE FDCPA
- If you had a magic wand and could amend the Fair Debt Collection Practices Act any way you wanted, what would you change? One lawyer plays the game, and lists a number of updates that should be made to the FDCPA, such as changing the bona fide error defense to include legal mistakes, and determine what constitutes a “concrete injury” in order to be able to sue under federal consumer protection statutes. Granted, the exercise is likely more of a pipe dream, but it is an interesting thought exercise to try and imagine how the law could be updated to be more reflective of the present and future state of collections.
WORTH NOTING: Even in the Trump White House, getting rid of the communications director only 10 days after hiring him is a head-shaker … Los Angeles will host the 2028 Summer Olympics … Five apps to help you save and budget your money … Why Americans can’t give up writing checks … Eight tech gadgets that pay for themselves over time … I’m doing my part, but other’s aren’t: soda consumption is at a 31-year low … Money can’t buy motivation … MTV is bringing back “Total Request Live”.
All of the personnel casualties in the first six months of the Trump administration
He overcame homelessness … twice … before becoming a billionaire
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.
