Banned Collector Sentenced to 3 Years in Prison for Fraud
- A federal judge yesterday sentenced Greg MacKinnon to three years in prison for defrauding the U.S. government out of more than $3 million in taxes on income that was earned running a debt collection scam that bilked millions from unsuspecting individuals. Prosecutors had been seeking a five-year sentence for MacKinnon, 59, but the judge took into consideration MacKinnon’s military record, health issues, remorse, family support, and lack of a criminal record in deciding on a lesser sentence.
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Are Things Good or Bad?
- Normally, companies in the accounts receivable management industry are like a school of fish — they all move in the same direction at the same time. When things are good, they are good for everyone. When things are bad, everyone suffers. But lately, I have noticed a divergence in the force — the industry isn’t like a school of fish anymore; now it’s like a barbell. What I mean by that is that companies are either doing great or they are suffering, there doesn’t seem to be anyone in between those two extremes. Why am I mentioning this? Well, I am seeing more and more reports about how the economy is getting worse and consumers are struggling more than they have since before the pandemic and while that means there are likely more accounts to be collected, it also means that consumers aren’t going to have as much money to repay old debts.
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Regulators Fine Bank $36M for Freezing Accounts During Pandemic
- The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency reached separate settlements with U.S. Bank yesterday that will see the financial services company pay $36 million in fines and restitution to consumers for blocking access to unemployment benefits for tens of thousands of individuals during the COVID-19 pandemic.
- More details here.
23 Companies Seeking Collection Talent
- Plenty of jobs out there for people who are looking. Or for people who are looking to do research on what their competitors are doing and how much they are looking to pay new hires. Check out who is hiring and for what, or just do a little browsing in this week’s job listings summary.
- More details here.
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