ANOTHER COLLECTOR FACING CLASS-ACTION OVER LOCATION, FORMAT OF EMAIL OPT-OUT DISCLOSURE
- The disclosure, which was a hyperlink at the bottom of the email, was not “clear and conspicuous” enough, according to the complaint.
- The disclosure also did not provide instructions for how to inform the debt collector via email that the consumer wished to opt out of receiving future communications.
- More details here.
- This content is sponsored by WebRecon.
JUDGE GRANTS MTD IN FDCPA CASE OVER SETTLEMENT OFFER
- The plaintiff received a letter offering to settle the balance that was owed for a 40% discount, if the debt was paid in one lump sum. The letter also offered three payments for a 20% discount, but that was misleading, according to the plaintiff.
- The plaintiff also said a date associated with accepting the discount offer overshadowed the 30-day dispute window — an argument the judge also rejected.
- More details here.
CFPB PLANS TO REGULATE BNPL MARKET
- The CFPB announced plans to issue guidance or a rule and subject Buy Now, Pay Later providers to supervisory examinations.
- BNPL usage has exploded in recent years, and delinquency and charge-off rates are now rising, too.
- More details here.
AN ‘EMERGENCY’ EXPENSE IS A LOT MORE EXPENSIVE THAN YOU THINK THESE DAYS
- Forget $400 — $1,400 is the new benchmark for an emergency expense, according to a published report.
- Given that 60% of the population is living paycheck to paycheck and 13% of consumers have spent more than they made, emergency expenses are problematic.
- More details here.
WORTH NOTING: A look back at the career of Roger Federer, who retired yesterday … Is Jeopardy! host Ken Jennings not being fair? … A Tesla owner is claiming that he has been locked out of his car until he pays $26,000 … What to bring to a job interview – the do’s and don’ts of getting hired … The mystery of why some people don’t get COVID-19 … One billionaire shares her thrifty savings habits … A guide to the cheating scandal rocking the chess world … A lawsuit alleging a ruined vacation because they couldn’t lower the air conditioning.
Funny Friday, part I
Funny Friday, part II
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