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.
BATTLE BREWING OVER WHO SHOULD REGULATE STUDENT LOAN COLLECTORS
- The Department of Education is preparing to announce that companies collecting on federal student loans are to be pre-empted from state regulators and lawmakers, according to a published report. The student loan industry has lobbied for “months” for federal protection from state rules and laws, according to the report, as more than a dozen states are working on laws that would aim to protect individuals with student loan debts by increasing regulations over student loan companies.
DEBT COLLECTION LAWS HAVE MINIMAL IMPACT ON ACCESS TO CREDIT: CFPB RESEARCHERS
- A pair of researchers within the Consumer Financial Protection Bureau have issued a report that analyzes the effects of debt collection laws on consumers’ access to credit. The researchers concluded that debt collection laws do have an impact on access to credit, but a minimal impact at best. The impact of a debt collection law is equivalent to an error on a consumer’s credit report that lowers his or her credit score by eight points.
HEALTHCARE FACILITIES TURNING TO TECHNOLOGY TO OVERCOME OVERDUE PAYMENTS
- Trying to collect from patients remains the biggest challenge facing medical and healthcare facilities, and more and more of those facilities are turning to technology to help them recoup those payments, according to the results of a survey conducted by BillingTree. Healthcare facilities are looking to online payment portals and interactive voice response (IVR) technology to help them collect more overdue payments from patients, according to the survey.
LAWSUIT TOTALS START 2018 ON HIGH NOTE: WEBRECON
- While not as high as they were a year ago, the number of lawsuits alleging violations of the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, and the Telephone Consumer Protection Act were all higher in January than they were in December, according to data released yesterday by WebRecon.
WORTH NOTING: A Maryland man has pleaded guilty to the charge of attempted suicide … IHOP is giving away free pancakes today … How to fix your workspace to improve productivity, creativity and your mood … Standing desks might not be as beneficial as everyone thinks … The Tooth Fairy is giving out less money these days … There is a right answer to the question “Are you smart or do you work hard?” … Apple is launching its own healthcare clinics … Dunkin’ Donuts is now serving Girl Scout cookie-themed coffees … iPhone screens are going to get bigger … An employee at the Department of Housing and Urban Development says she was fired for for refusing to break the law and spend more than was allowed on redecorating the director’s office … Seven illegal ways Americans admit they try to save on their taxes … Warren Buffett’s three most profitable pieces of advice.
Five car loan misconceptions
How punching sounds are made in movies
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.
