BEDARD BREAKS DOWN CATEGORIES OF VALIDATION INFORMATION
- Once Regulation F goes into effect, collectors are going to have to make substantial changes to the validation notices they are sending out to consumers. Whether collectors choose to use the rule’s Model Validation Notice or continue using their own format of collection letter, there are four categories of information that will have to be included in those letters. Collectively, these categories are called validation information. In the latest episode of “You Wanted a Rule, You Got a Rule,” John Bedard of Bedard Law Group breaks down these four categories so collectors can understand what changes are going to have to be made to their letters.
JUDGE GRANTS MSJ FOR DEFENSE OVER PAY-FOR-DELETE REQUEST FROM PLAINTIFF
- Even though he had been told otherwise, writing a note in the memo line of a check that a debt was being paid in exchange for deletion of a tradeline does not work, according to a District Court judge in New Jersey who granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case.
NEW CHAIR AT FTC MEANS CHOPRA LIKELY ON WAY TO CFPB
- It appears as though the last domino that needed to fall in order for Rohit Chopra to become the next director of the Consumer Financial Protection Bureau has fallen and all that is left is for the Senate to confirm him, a move that is expected to occur within the next month.
FCC ANNOUNCES BETA TEST FOR REASSIGNED NUMBER DATABASE
- The Federal Communications Commission yesterday announced that its reassigned numbers database will be undergoing a beta test from July 1 through September 30 during which callers and caller agents may use the database without charge.
HEALTHCARE PROVIDER SELLS $278M IN DEBT TO RIP MEDICAL DEBT
- A healthcare provider has agreed to sell $278 million in medical debt, affecting 82,000 patients, as part of an agreement with the charity RIP Medical Debt. This is the first time the charity has purchased debt directly from a healthcare provider.
WORTH NOTING: If burritos lead to positive drug tests, that is just one more reason why I’ll never make it to the Olympics … A situation I am sure many of us have had to deal with on flights and at movie theaters … The top five places where people are buying vacation homes … What is has been like to work at Amazon during the COVID-19 pandemic … Workers were more stressed than ever last year. Some tips to help you deal with it … The habits that are hurting your odds of success … Why child care is a small business issue … Secrets that family dynasties use to hang onto their money.
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