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.
NY DFS CYBERSECURITY REGS GO INTO EFFECT TODAY
- By today, all “covered entities” that fall under regulation of New York State’s Cybersecurity regulation are to have submitted a letter to the New York Department of Financial Services certifying that they are in compliance with the regulation’s requirements. This marks the first time that covered entities are required to submit such a document. It is possible that collection agencies may start receiving requests, if they have not already, from the individual who is designated as the covered entity’s chief information security officer requesting details of their compliance with the regulation.
GETTING TO KNOW SAM SHANNON OF AMCOL SYSTEMS
- Sam Shannon may have the most accurate and detailed description of his day from anyone who has ever completed this profile. Shannon has spent more than three decades in the ARM industry and isn’t afraid to be honest about his career highlight or what has driven him to stay in this industry so long. Read on to learn more about him, and why you should never ever bother him on Friday nights.
HOUSE PASSES BILL AIMED AT UNDOING MADDEN RULING
- A bill yesterday aimed at allowing debt buyers to bypass state interest rate caps passed the House of Representatives and moved to the Senate for review. H.R. 3299, the Protecting Consumers’ Access to Credit Act of 2017, passed 245-171. The bill would ensure that an interest rate, if lawful when a loan is made, would remain valid if the loan is subsequently sold, assigned, or transferred to a non-bank third party.
CFPB OPENS REVIEW OF SUPERVISION PROGRAM, ANNOUNCES UPCOMING PROGRAMS UP FOR REVIEW
- The Consumer Financial Protection Bureau has opened up another review, this time of its supervisory processes. This marks the fourth such review that the CFPB has started since acting director Mick Mulvaney announced that the agency would conduct a comprehensive review of all of its processes and policies. The CFPB also, for the first time, published the list of other processes that it will open up for review.
HUSBAND LAWYER CAUGHT TRYING TO USE WIFE AS CLASS REPRESENTATIVE IN TCPA CASE
- Artin Betpera from Dorsey & Whitney has a review of an interesting Telephone Consumer Protection Act class-action lawsuit, where the class representative was the wife of the class counsel. Needless to say, a federal judge in the Eastern District of New York wasn’t buying it.
WORTH NOTING: Seventeen people were killed yesterday at a high school in Florida … How some schools disagree over how to handle an active shooter … What we know about the shooter, who was a former student at the school … This was the 18th school shooting of the year, which is less than six weeks old … A new study reveals that single fathers die earlier than single mothers and coupled parents … The IRS is warning of a new scam where thieves are filing fake tax returns … How the first-ever pregnant Senator will have to work after she gives birth … Job interview questions to completely disarm candidates, in a good way … A new program will seek to pay businesses for allowing non-customers to use their bathrooms … McDonald’s is making its happy meals more nutritious … The 100 best companies to work for, according to Fortune magazine … Is this movie the worst Oscar Best Picture winner ever? … President Trump wants to end the student loan forgiveness program.
The world’s longest zipline
Can’t wait for this
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.
