CFPB Supervisory Highlights Spotlight Issues with Debt Collectors
- You can say a lot of things about the Consumer Financial Protection Bureau, but one thing you can’t say is that they keep you in the dark about what they are thinking and the issues that matter to them. One of the ways they keep the credit and collection industry updated is by publishing summaries of what they find during examinations of companies in this space. These Supervisory Highlights reports offer glimpses into the types of issues that are being uncovered and can serve as a crystal ball that shows what types of issues are likely to be the focus of future enforcement actions. In its latest issue, which the CFPB released yesterday, the Bureau highlighted issues with debt collectors misleading and harassing consumers.
- More details here
Report Calls Out AI Tool for Lying About Being Human
- There is a new term the describes artificial intelligence tools that pretend to be real people — human-washing. At least one AI tool that is designed to automate sales and customer support calls for businesses and contact centers can be programmed to lie and say that it’s a human and not a bot that a consumer is speaking with, according to a report published in Wired magazine.
- More details here
Appeals Court Rules Defendant Can Refuse to Pay Arbitration Fees
- The Court of Appeals for the Seventh Circuit issued a ruling this week on the topic of arbitration that at least one published report claims will allow defendants to effectively choose between court proceedings or arbitration hearings by doing nothing more than refusing to arbitration fees.
- More details here
22 Companies Seeking Collection Talent
- There are still a lot of companies across the credit and collection industry that are looking to fill vacancies. Check out who is hiring, how much they are paying, and how they are attracting talent in this week’s job listings summary.
- More details here
WORTH NOTING: The social etiquette surrounding large groups splitting the check at a restaurant … Tips to keep dogs from freaking out around fireworks … How much sleep do you really need each night? … Dietary mistakes that may be messing around with your energy levels during the day … Five things that rich people do to stay wealthy … Americans need to fall back in love with smaller cars, according to the CEO of Ford … Why some young adults aren’t working … You probably won’t believe how much it costs to make a Dior bag that sells for $2,700.
Wisdom Wednesday, part I
Wisdom Wednesday, part II
The Daily Digest is sponsored by TCN. Today, contact centers need to do more with less. TCN’s cloud-based predictive dialing tools and services help clients to leverage the most sophisticated inbound, outbound, and blended calling technologies available. TCN’s award-winning platform offers multiple features to assist in compliance while improving performance with no hardware, no monthly minimums, or maintenance fees. Call 866-745-1900 or visit tcn.com today.
