The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.
HOW TO MANAGE A PR CRISIS
- In today’s world of 24-hour news cycles and “fake” news, having an effective public relations operation is critical. It does not take much for a company’s credibility or reputation to be tarnished, and it takes significantly longer for that reputation to be restored than it did to be torn down in the first place. A trio of industry luminaries shared some strategic do’s and don’ts at the Receivables Management Association‘s annual conference held here last week. “You have a 50/50 shot at recovering from a crisis, at best,” TrueAccord’s Tim Collins said during the session. “There will be a tremendous amount of fear. Bad decisions will be made.”
IMPROVING EFFICIENCIES WITH BATCH PROCESSING
- Linda Straub Jones from LexisNexis Risk Solutions shares her thoughts about how collection agencies can improve their efficiencies through better use and understanding of batch processing. “Batch scrubs and monitoring will not only save you time and money,” Straub Jones writes, “but will give you the peace of mind that all of your accounts are being attended to on a daily basis.”
MAINE AMENDS STATE FDCPA TO CHANGE LICENSING REQUIREMENTS
- Gov. Paul LePage of Maine has signed a bill that amends that state’s Fair Debt Collection Practices Act, as it pertains to how debt collectors are licensed. The news was first reported yesterday by Buckley Sandler.
NUMBER OF INDIVIDUALS WITH DEBTS IN COLLECTIONS CONTINUES TO DECLINE: FED
- The number of individuals with a debt assigned to a third-party collection agency plummeted during the fourth quarter of 2017, while the average size of the debt in collections also decreased, according to data released yesterday by the Federal Reserve Bank of New York. Just under 11% of individuals had a debt placed with a third-party agency, according to the report, down from more than 12% at the start of 2017. The average amount in collections dropped about $100, to just over $1,300 during the year.
STRATEGIES TO DEFEAT CLASS CERTIFICATION IN TCPA CASES
- Facing a class-action lawsuit alleging violations of the Telephone Consumer Protection Act is not a hopeless case, according to a published report, which details a number of strategies that defendants can use to try and defeat certification. The most common successful defense, the article contends, is arguing the predominance of individualized issues and that members of the class did not consent to receive communications on a class wide basis.
WHITE HOUSE BUDGET PROPOSAL SLASHES CFPB FUNDS, PUTS AGENCY BUDGET UNDER CONGRESSIONAL CONTROL
- The budget for the Consumer Financial Protection Bureau would be moved under Congressional control if President Donald Trump’s budget proposal is adopted. Currently, the CFPB’s budget is allocated by the Federal Reserve Board and is not controlled by Congress. Under President Trump’s proposed budget, the CFPB would receive $6.4 billion less during the next 10 years.
WORTH NOTING: This year’s winner of the Westminster Kennel Club Dog Show is a definite fluffball … I guess we’ll file this under “it’s the thought that counts” … President Trump’s lawyer paid $130,000 out of his own pocket to a woman who allegedly had a relationship with the president back in 2006 … The average consumer will spend more than $140 on Valentine’s Day gifts this year … Why small restaurants hate Valentine’s Day … I have never heard of IWasPoisoned.com. Have you? … A renowned business professor on why you need to stop brainstorming … How Bill and Melinda Gates settle disagreements … Why being crowned with the “best burger in America” was a curse for this restaurant … An engine on a plane flying between San Francisco and Honolulu fell apart … Employers who do not offer paid sick leave are making flu season worse, according to a report … Shaun White rose to the occasion.
This is awesome
How Cyborg from “Justice League” got ripped
The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.
