COLLECTOR TO PAY $500k TO SETTLE CFPB CREDIT REPORTING CLAIMS
- The Consumer Financial Protection Bureau yesterday announced a settlement with a debt collector after it was accused of a number of violations of the Fair Credit Reporting Act. The collector, Afni, Inc., will pay a $500,00 fine and agreed to update its policies and procedures to ensure the accuracy of the information it reports to the credit reporting agencies.
CFPB STANDS BEHIND CREDIT REPORTING GUIDANCE IN LETTER TO ADVOCACY GROUPS
- The Consumer Financial Protection Bureau is not planning to make any changes to the guidance it issued earlier this year telling furnishers that as long as they are making “good faith efforts” to investigate disputes as quickly as possible that they can take longer than the legally required 30 days to do so, according to a letter written by CFPB Director Kathleen Kraninger in response to a request from a number of consumer groups asking the agency to reconsider its decision and obtained by Law360.
WARREN CALLS ON PRESIDENT-ELECT TO CANCEL ‘BILLIONS’ IN STUDENT LOANS
- Sen. Elizabeth Warren [D-Mass.], who it looks like will not get her wish of becoming the next Treasury Secretary, called on President-elect Joe Biden to cancel “billions” of dollars in outstanding student loans, saying it is the “single most effective executive action available for massive economic stimulus.”
WORTH NOTING: Millions of Americans are suffering from “catastrophic” healthcare costs, according to a new study … It’s not sharks with laser beams on their heads, but it’s close … I wonder if any of the recipes in this cookbook will be better than Peggy Hill’s Frito pie … If you have a quarter of a million dollars and a deep obsession with Rudolph the Red-Nosed Reindeer’s TV show, this is what you have been waiting for … Why do we always need it to be 72 degrees? … Home prices keep going up everywhere … Hyperventilating can help your body get rid of alcohol faster … How ventilation helps avoid transmitting COVID-19.
How sounds are made for reality game shows
Funny Friday
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.
COLLECTOR TO PAY $500k TO SETTLE CFPB CREDIT REPORTING CLAIMS
- The Consumer Financial Protection Bureau yesterday announced a settlement with a debt collector after it was accused of a number of violations of the Fair Credit Reporting Act. The collector, Afni, Inc., will pay a $500,00 fine and agreed to update its policies and procedures to ensure the accuracy of the information it reports to the credit reporting agencies.
CFPB STANDS BEHIND CREDIT REPORTING GUIDANCE IN LETTER TO ADVOCACY GROUPS
- The Consumer Financial Protection Bureau is not planning to make any changes to the guidance it issued earlier this year telling furnishers that as long as they are making “good faith efforts” to investigate disputes as quickly as possible that they can take longer than the legally required 30 days to do so, according to a letter written by CFPB Director Kathleen Kraninger in response to a request from a number of consumer groups asking the agency to reconsider its decision and obtained by Law360.
WARREN CALLS ON PRESIDENT-ELECT TO CANCEL ‘BILLIONS’ IN STUDENT LOANS
- Sen. Elizabeth Warren [D-Mass.], who it looks like will not get her wish of becoming the next Treasury Secretary, called on President-elect Joe Biden to cancel “billions” of dollars in outstanding student loans, saying it is the “single most effective executive action available for massive economic stimulus.”
WORTH NOTING: Millions of Americans are suffering from “catastrophic” healthcare costs, according to a new study … It’s not sharks with laser beams on their heads, but it’s close … I wonder if any of the recipes in this cookbook will be better than Peggy Hill’s Frito pie … If you have a quarter of a million dollars and a deep obsession with Rudolph the Red-Nosed Reindeer’s TV show, this is what you have been waiting for … Why do we always need it to be 72 degrees? … Home prices keep going up everywhere … Hyperventilating can help your body get rid of alcohol faster … How ventilation helps avoid transmitting COVID-19.
How sounds are made for reality game shows
Funny Friday
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.
