BIDEN NAMES FORMER CFPB DEPUTY DIRECTOR TO LEAD AGENCY’S TRANSITION TEAM
- President-elect Joe Biden has chosen a name that will be familiar to many in the accounts receivable management industry to head the transition team overseeing the Consumer Financial Protection Bureau. Leandra English, the former deputy director of the CFPB has been tapped to lead a team of fellow volunteers whose responsibilities include “understanding the operations of each agency, ensuring a smooth transfer of power, and preparing for President-elect Biden and Vice President-elect Harris and their cabinet to hit the ground running on Day One,” according to the incoming administration’s transition plan.
COLLECTION AGENCY FINED BY MINNESOTA REGULATOR FOR UNLICENSED ACTIVITY
- The Temporary Commissioner of the Minnesota Department of Commerce has fined a collection agency $5,000 for operating without a license, according to the terms of a consent order that was entered into late last month.
PROFITS UP AT PERFORMANT IN 3Q, BUT COVID-RELATED COLLECTION CHALLENGES REMAIN
- Performant Financial Corp. yesterday reported net income in the third quarter of $2 million, compared with a loss of $8.1 million during the same period a year ago. Revenue during the third quarter was $36.2 million, up from $35.9 million during the third quarter of 2019. During a conference call yesterday discussing the financial results, Performant Chief Executive Lisa Im said that the company has been allowed to restart “the majority” of its collection operations after they were halted at the request of creditors when the coronavirus pandemic hit the United States this Spring.
VIDEO: HOW ALTERNATIVE COMMUNICATION CHANNELS HELP IMPROVE RPC RATES
- There are so many ways for collectors to try and get in touch with consumers today, and that creates a lot of opportunity, but also a lot of anxiety. Those anxieties need to be managed and overcome, however, because, even though collectors have more ways to get in touch with consumers, actually getting a consumer on the phone is as tough as ever. Those other communication tools, such a DirectDrop voicemail, email, and text messages, are becoming lifelines to help companies in the accounts receivable management industry reach consumers. It may sound counter-intuitive, but other communication channels can help improve an agency’s right-party contact rate.
WORTH NOTING: One clear winner from this election — Four Seasons Total Landscaping … Sometimes it’s better to be lucky than good … Military strategies that you can use to hire the best employees … Where is the safest seat to sit on an airplane today? … A COVID-19 vaccine might be widely available to all Americans by April, according to Dr. Fauci … You can now get turkey insurance in case you screw up cooking Thanksgiving dinner … The search for the world’s smartest dog begins today … There is a growing link between COVID and mental illness.
How to protect yourself from COVID during the holidays
That’s a lot of cranberries
The Daily Digest is sponsored by Microbilt. Designed to help debt collection professionals, MicroBilt’s platform of recovery and skip tracing tools provide quick, convenient, and current data that help you prioritize and successfully track people down and collect. Keep your skip tracing and debt recovery efficient and effective! Contact us to find out about our 90 Day Try Us Program. Call 800-884-4397 or visit www.microbilt.com.
BIDEN NAMES FORMER CFPB DEPUTY DIRECTOR TO LEAD AGENCY’S TRANSITION TEAM
- President-elect Joe Biden has chosen a name that will be familiar to many in the accounts receivable management industry to head the transition team overseeing the Consumer Financial Protection Bureau. Leandra English, the former deputy director of the CFPB has been tapped to lead a team of fellow volunteers whose responsibilities include “understanding the operations of each agency, ensuring a smooth transfer of power, and preparing for President-elect Biden and Vice President-elect Harris and their cabinet to hit the ground running on Day One,” according to the incoming administration’s transition plan.
COLLECTION AGENCY FINED BY MINNESOTA REGULATOR FOR UNLICENSED ACTIVITY
- The Temporary Commissioner of the Minnesota Department of Commerce has fined a collection agency $5,000 for operating without a license, according to the terms of a consent order that was entered into late last month.
PROFITS UP AT PERFORMANT IN 3Q, BUT COVID-RELATED COLLECTION CHALLENGES REMAIN
- Performant Financial Corp. yesterday reported net income in the third quarter of $2 million, compared with a loss of $8.1 million during the same period a year ago. Revenue during the third quarter was $36.2 million, up from $35.9 million during the third quarter of 2019. During a conference call yesterday discussing the financial results, Performant Chief Executive Lisa Im said that the company has been allowed to restart “the majority” of its collection operations after they were halted at the request of creditors when the coronavirus pandemic hit the United States this Spring.
VIDEO: HOW ALTERNATIVE COMMUNICATION CHANNELS HELP IMPROVE RPC RATES
- There are so many ways for collectors to try and get in touch with consumers today, and that creates a lot of opportunity, but also a lot of anxiety. Those anxieties need to be managed and overcome, however, because, even though collectors have more ways to get in touch with consumers, actually getting a consumer on the phone is as tough as ever. Those other communication tools, such a DirectDrop voicemail, email, and text messages, are becoming lifelines to help companies in the accounts receivable management industry reach consumers. It may sound counter-intuitive, but other communication channels can help improve an agency’s right-party contact rate.
WORTH NOTING: One clear winner from this election — Four Seasons Total Landscaping … Sometimes it’s better to be lucky than good … Military strategies that you can use to hire the best employees … Where is the safest seat to sit on an airplane today? … A COVID-19 vaccine might be widely available to all Americans by April, according to Dr. Fauci … You can now get turkey insurance in case you screw up cooking Thanksgiving dinner … The search for the world’s smartest dog begins today … There is a growing link between COVID and mental illness.
How to protect yourself from COVID during the holidays
That’s a lot of cranberries
The Daily Digest is sponsored by Microbilt. Designed to help debt collection professionals, MicroBilt’s platform of recovery and skip tracing tools provide quick, convenient, and current data that help you prioritize and successfully track people down and collect. Keep your skip tracing and debt recovery efficient and effective! Contact us to find out about our 90 Day Try Us Program. Call 800-884-4397 or visit www.microbilt.com.
