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 COLLECTION AGENCIES ARE HANDLING INCREASED AUDITING BURDEN THROUGH AUTOMATION
- Automation is helping collection agencies deal with the increased burden of internal and third-party audits, according to a pair of executives who spoke on a webinar last week. Increased automation allows the agency to include larger sample sizes in their audits, which helps identify more risks.
BILL IN CALIF. LEGISLATURE WOULD MAKE IT ILLEGAL TO PLACE UNPAID SCHOOL DEBTS WITH COLLECTION AGENCIES
- A bill has been introduced in the California legislature that, if passed, would make illegal for local school districts to send unpaid school-related debts to collection agencies. The bill was aimed specifically at the San Diego Unified School District’s policy of using a collection agency in attempts to recover unpaid school bus fees from parents.
CORDRAY KEEPS UP RHETORIC AGAINST CHANGES AT CFPB
- Richard Cordray, the former director of the Consumer Financial Protection Bureau who is now running for governor of Ohio, is not a fan of the changes to the agency that have been announced by his successor, acting director Mick Mulvaney. Speaking yesterday, Cordray accused the CFPB of shifting its priorities away from protecting consumers and instead is now looking out more for the interests of financial firms.
WHAT HAPPENS WHEN PEOPLE DON’T PAY THEIR DEBTS BEFORE CHINESE NEW YEAR
- Lunar New Year, which is also known as Chinese New Year, was this past Friday, Feb. 16. There is a custom of making sure that all debts are paid off before the start of the New Year, as a symbol of closing the books on an old year and being ready to start a new year with a clean slate. Here is an article that details some of the tactics that “debt collectors” may take to warn potential debtors of this custom.
WORTH NOTING: How Major League Baseball plans to try and make games go faster this year … This was awesome and straight out of something you’d see on TV … More than 170 presidential historians were asked to rank the presidents, in order of greatness … My seven-year-old daughter is going to go bananas when she sees this … How banks could control gun sales, if lawmakers aren’t … Austin, Texas is the first city to regulate paid sick leave for non-government employees … Strategies to improve your memory retention … There’s a small problem at KFC restaurants in Great Britain. They don’t have any chicken … The states where people pay the least in taxes … She deserves a gold medal in gaming the system … Not sure whether to show this to my wife or not, seeing as she just started using the app … This seems cool, but it also seems way too good to be true … The hottest toys from the New York Toy Fair.
A house in London that is only seven feet wide
A saw that stops itself before it cuts through flesh
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.
