Suit Accuses Collector of Reporting Wrong Condition Code on Disputed Debt
- Compliance condition codes are tricky and not always easily understood. One collection operation is facing a Fair Debt Collection Practices Act lawsuit in Pennsylvania federal court because the plaintiff disagreed with the condition code the collector was reporting when the plaintiff disputed the debt a second time.
- More details here
- This series is sponsored by WebRecon
Judge Dismisses 2 of 3 Claims in FDCPA Suit Over HOA Debt
- A District Court judge in Missouri has partially dismissed a Fair Debt Collection Practices Act lawsuit against a collection attorney, leaving only one claim to proceed while dismissing others.
- More details here
Sedric AI Raises $18.5M to Help Expand Company
- Sedric AI, a fast-growing player in the AI-driven compliance space for financial institutions, has raised $18.5 million in its latest funding round, marking a significant milestone for the company. The Series A round, led by Foundation Capital with backing from Amex Ventures, StageOne Ventures, and The Garage, brings Sedric’s total capital raised to $22 million.
- More details here
CFPB Releases Annual Report on Debt Collection
- The Consumer Financial Protection Bureau yesterday released its annual report on debt collection, focusing on two critical areas: medical and rental debt. The report sheds light on what the CFPB describes as the “aggressive and illegal” practices undertaken by collectors, such as attempting to collect on debts that have already been satisfied by financial assistance programs.
- More details here
WORTH NOTING: How humpback whales use bubbles to make their own kinds of fishing nets … Maybe take a few minutes this weekend and go through your change jar … Why companies are worried about having so many members of Generation Z in the workplace … The most common reasons why people get new iPhones … If you’re a latte fan, here are the five best ones to order at Starbucks, according to experts … You can buy half of a house in California for half of a million dollars … The number one unsolvable problem facing young people, according to Bill Gates … Just how hard do you have to sneeze to hurt yourself this badly?
Funny Friday, part I
Funny Friday, 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.
