Judge Rules Debt Collection Lawsuit Waives Arbitration Clause
- A District Court judge in Maryland has denied a defendant’s motion to compel arbitration in a Fair Debt Collection Practices Act case, ruling that the defendant waived its right to arbitrate by engaging in prior litigation.
- More details here
CFPB Sues Card Company & Its CEO for Baiting Consumers Into High-Fee Products
- The Consumer Financial Protection Bureau has filed a lawsuit against Horizon Card Services and its CEO, Robert Kane, for allegedly engaging in deceptive and abusive practices targeting financially vulnerable consumers. The CFPB claims that Horizon lured consumers into signing up for a costly membership program under the false pretense of offering a general-purpose credit card. In reality, the card could only be used to purchase goods from Horizon’s overpriced online store, Horizon Outlet.
- More details here
Instant Payments and Digital Wallets Gaining Momentum in the Payments Space: Report
- In a new report from Capgemini Research Institute, non-cash transaction volumes in North America are projected to increase by 6.4% this year, reaching $252.6 billion, with global growth expected to rise even faster at 16.6%. By 2028, the North American figure will grow by 7.3% to $338.3 billion. The report highlights that credit and debit cards will dominate global cashless payments by 2028, with instant payments gaining momentum as the second-largest category. Digital wallets are expected to account for 61% of e-commerce transactions and 46% of in-store payments by 2027, while credit card usage is predicted to decline.
- More details here
Compliance Digest – September 16
- Six experts weighing in on six different topics related to compliance. Nothing else offers the breadth and depth of compliance coverage on a regular basis like the Compliance Digest. This week, see what Stacy Rodriguez, John Redding, Heath Morgan, Brit Suttell, David Shaver, and Cooper Walker have to say about recent court rulings and compliance developments.
- More details here
- This series is sponsored by Bedard Law Group
WORTH NOTING: Takeaways from last night’s Emmy Awards … Be careful what you post online. Criminals are using pics of your house to figure out how to break in … Aldi has announced it plans to hire 13 thousand workers nationwide and pay them as much as $23 an hour … Why you should be focusing on your flexibility … “Soft” skills are dead, according to hiring experts. It’s all just about skills now … Five overreactions from this weekend’s college football results … The Federal Reserve Board is expected to cut interest rates for the first time in four years. What that would mean for you … Are you playing LinkedIn’s games?
Music Monday, part I
Music Monday, 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.
