CFPB Finalizes Credit Card Late Payment Rule; Chamber Vows to Sue
- The Consumer Financial Protection Bureau has determined that the cost of collecting on unpaid credit card debts for larger companies can be covered by charging an $8 late payment fee, but will allow those issuers to charge more if they are willing to show why their collection costs are higher than that threshold.
- More details here
Judge Vacates Prior Ruling, Says Defendant Not Liable in FDCPA, FCRA Case
- A District Court judge has reconsidered his position after a bench trial and has found that a collector did not violate the Fair Credit Reporting Act because the plaintiffs failed to show there was any liability for the company.
- More details here
Report Calls Out Student Loan Servicer for ‘Call Deflection’ Scheme
- An investigation conducted by an advocacy group and a teacher’s union has uncovered what a report is calling a years-long “call deflection” campaign by the student loan servicing company handling the Public Service Loan Forgiveness program to deny borrowers access to information that could help them have their student loans forgiven.
- More details here.
25 Companies Seeking Collection Talent
- More than two dozen companies are looking for collection talent, across the country and up and down the steps on the corporate ladder. See if your next opportunity is out there waiting or just check out what your competitors and colleagues are doing — and how much they are paying — in this week’s Job Listings summary.
- More details here
WORTH NOTING: The best online flower delivery service … Four things you need to know about Bitcoin hitting a new record high … A lot of people choose their vacation destinations based on the books they read … Target is coming out with a product that aims to compete with Amazon Prime … It’s not just you — eggshells are chipping more for everyone … Site that use artificial intelligence to create images can be manipulated into creating misleading election-related images, according to a new study … Switzerland tops the list of the most powerful passports in 2024 … A man who drove his snowmobile into a Black Hawk helicopter is suing the federal government for $10 million.
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