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CFPB CANCELS DEBT COLLECTION SURVEY
- The Consumer Financial Protection Bureau has withdrawn its request to conduct a survey of individuals related to debt collection disclosures. The move appears to be part of Acting Director Mick Mulvaney’s decision last month to freeze all pending regulatory actions. The survey was considered to be the next step in developing a rule governing the debt collection process.
TRUEACCORD OFFERS WEBINAR TO SHARE INSIGHTS INTO DIGITAL DEBT COLLECTION
- More than 25% of individuals who interact with TrueAccord‘s automated collections platform do so outside of the communications window allowed by the Fair Debt Collection Practices Act, and 95% of those using the platform have resolved their debts online, according to data provided by the company. About 70% make their payment decisions via a mobile device or tablet.
HOW HOSPITALS ARE GETTING BETTER AT COLLECTIONS
- For Tenet Healthcare Corp., collecting on debts is far more profitable than trying to cure sick people. A feature in Bloomberg BusinessWeek delves into how Tenet is selling hospitals because they aren’t profitable, but keeping those facilities as clients of Conifer, a revenue cycle management company, which has profit margins that are twice as high as hospitals.
NEW ORLEANS JUDGES ACCUSED OF PROFITING OFF PEOPLE WHO COULDN’T PAY THEIR DEBTS
- A federal judge in Louisiana last week ruled that criminal court judges in New Orleans have been taking advantage of low-income individuals by not considering the ability to repay debts when assessing fines and penalties. The judges are accused of redirecting more than $800,000 into a fund that was used to purchase unnecessary insurance policies.
PAYMENT PROCESSOR ORDERED TO PAY $1.7M JUDGMENT FOR HELPING FRAUDSTERS
- A ruling from the Eleventh Circuit Court of Appeals, upholding a verdict from the District Court for the Middle District of Florida, will likely embolden the Federal Trade Commission to go after more payment processing companies and other service providers who aid and abet companies committing fraud against individuals.
REPORT BREAKS DOWN STUDENT LOAN DEBT ACROSS NYC
- Student loan borrowers in the Bronx are the worst in New York City at repaying their debts, according to a report issued by the Federal Reserve Bank of New York and the New York City Department of Consumer Affairs. The report is considered to be the first that attempts to assess the impact of student loan debt on a particular city.
HOW POLITICAL AFFILIATIONS AFFECT FINANCIAL EXPECTATIONS
- Individuals in counties that tend to vote Republican are becoming more pessimistic about their financial futures than individuals who live in counties that tend to vote Democrat, according to data released by the Federal Reserve Board of New York. The data attempts to analyze how politics affects the financial expectations of consumers.
WORTH NOTING: More Americans than ever are expected to travel during the upcoming holiday season … That meant it was probably a bad time for the power to go out this morning at Hartsfield-Jackson Airport in Atlanta … People are rushing to pay their 2017 taxes now to take advantage of deductions that are going away Jan. 1. … A billionaire and his wife are dead under suspicious circumstances in Toronto … The exact time of day, month, and year that you are most productive at work … Common office design mistakes to avoid … I considered this sacrilege and couldn’t be happier that it didn’t get good reviews … President Trump is expected to make a major speech on national security … Work perks that are helping people save more than $1,000 on holiday shopping … The owner of the NFL’s Carolina Panthers is selling his team because of some creepy things he’s done … My kids and I helped “Star Wars” to the second-best opening weekend ever. Did you see it?
Just in time for the holidays: How weight gain affects your body
A Christmas tree for your car
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.
