BEDARD BREAKS DOWN ELECTRONIC DELIVERY OF VALIDATION NOTICES
- For all of the excitement and possibility that surrounds the area of collectors communicating electronically with consumers via email, text messaging, and other digital channels, one of the areas that collectors tend to shy away from is sending the initial validation notice through such channels. But the Consumer Financial Protection Bureau has laid out instructions in Regulation F to help collectors that want to send the validation notice electronically. In the latest episode of “You Wanted a Rule, You Got a Rule,” John Bedard of Bedard Law Group walks through this particular section of Regulation F — Section 1006.34d(4) — to help collectors understand what must be done in order to compliantly send the validation notice via electronic channels.
N.Y. JUDGE GRANTS MTD IN MEANINGFUL ATTORNEY INVOLVEMENT CASE
- A District Court judge in New York has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act because the plaintiff believed that a collection letter he received which was signed by an attorney was not actually signed by the attorney and that the attorney was not meaningfully involved in reviewing the account before signing or sending the letter. Ultimately, the judge ruled, the plaintiff has to do more than just make assertions in order to substantiate his claims.
REPORT BREAKS DOWN PROS, CONS OF IRS’S PRIVATE COLLECTION AGENCY PROGRAM
- A nonpartisan public policy institute that is part of Congress has published a report on the Internal Revenue Service’s Private Collection Agency program, detailing its history and sharing the pros and cons of using private companies to collect on debts owed by taxpayers to the federal government.
CFPB ANALYZES DISPUTE TRENDS ON CREDIT REPORTS
- Consumers that live in neighborhoods where the majority of individuals are African-American or Hispanic, or who are delinquent on their payments, or who are younger, or who have lower credit scores are the individuals who are most likely to dispute items on their credit reports, according to an analysis conducted and released by the Consumer Financial Protection Bureau.
WORTH NOTING: Takeaways from last night’s election results … Ex-Mets manager Bobby Valentine was not among the happy winners last night … CEOs share stories of hard choices they had to make, and how they did it … A glossary of terms stemming from The Great Resignation era … How to find out what it’s really like to work somewhere … Zillow bet big on the housing market and lost just as big … Every week I call my father and try to convince him we should switch to rooting for a different team. Every week he says no … The only reason more people haven’t quit their jobs is health insurance.
Fall chores you can’t ignore
What we miss when we focus on the average
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