Kansas Court to Decide Federal Preemption Question in CFPB Collection Case
- As you may know, there are two FDCPAs — the Fair Debt Collection Practices Act and the Federal Debt Collection Procedures Act. This case involves the second FDCPA and is related to attempts by the Consumer Financial Protection Bureau to collect on judgments from a husband and wife who are accused of hiding millions of dollars to settle fines and penalties related to a payday lending scam.
- More details here
Minnesota Attorney General Reaches Consent Order with Lenders Over Illegal Debt Collection Practices
- Minnesota Attorney General Keith Ellison announced yesterday that his office has filed a consent order to resolve an investigation into several online lenders under LDF Holdings LLC. The investigation focused on the lenders’ practices of charging exorbitant interest rates on small loans, which violated Minnesota’s usury laws, and misleading consumers about their repayment obligations. The consent order, which is pending court approval, includes significant relief for affected borrowers, canceling over $1 million in illegal loans, some of which had been placed with a collection agency and already collected.
- More details here
Retirees Are Tightening Their Belts as Financial Pressures Mount
- The latest Spending in Retirement study from the Employee Benefit Research Institute (EBRI) reveals a concerning trend for retirees, with many struggling to make ends meet due to rising credit card debt, insufficient savings, and inflationary pressures.
- More details here
21 Companies Seeking Collection Talent
- Creditors, debt buyers, collection operations, and more are looking for qualified talent as the year draws to a close. New year, new job, perhaps? Check out the job listings summary and find your next step up the career ladder. Or, do some research to help you improve the quality of your own job ads. There are a ton of reasons to check it out!
- More details here
WORTH NOTING: For the family that wears matching PJs during the holiday season … A guide to the holiday movies of 2024 … The one small tweak that will make your stuffing the hit of Thanksgiving dinner … The top 100 photos of 2024, according to Time magazine … Dictionary.com has named its word of the year for 2024 … Unpredictable heat waves are popping up across the world and scientists are baffled … Three websites to help you stay on top of all the Black Friday deals … A woman’s $20 Thanksgiving dinner from Dollar Tree is going viral.
Funny Friday, part I, on a Wednesday
Funny Friday, part II, on a Wednesday
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.
