Biden Administration Cancels $4.3B in Student Loans While Scrapping Proposed Debt Relief Rules
- The Biden administration on Friday approved $4.28 billion in student loan forgiveness for nearly 55,000 public service workers, while simultaneously withdrawing two proposed rules aimed at expanding federal student loan relief for borrowers facing hardship.
- More details here
Identifying and Nurturing Top Performing Collectors: Insights from Industry Experts
- In an industry often plagued by high turnover and inconsistent performance, the ability to identify and nurture top-tier collections talent can feel like searching for a needle in a haystack. The need for skilled, resilient collectors has never been more crucial. But with the right process and procedures in place, identifying great collectors can feel less like winning the lottery and more like coming across teenagers with their faces in a screen whose favorite hobby is rolling their eyes at you.
- More details here
CFPB Targets Zelle and Major Banks Over Fraud Allegations
- The Consumer Financial Protection Bureau on Friday announced it had filed a lawsuit against Zelle’s operator, Early Warning Services (EWS), and three of its co-owning banks — JPMorgan Chase, Bank of America, and Wells Fargo — alleging widespread failures in protecting consumers from fraud. The suit claims customers of the three banks have lost over $870 million since Zelle’s 2017 launch due to insufficient safeguards against scams on the payment platform.
- More details here
Compliance Digest – December 23
- It might be the end of the year, but the compliance firehose never slows down. This week, Rick Perr, Stacy Rodriguez, Virginia Bell Flynn, Mitch Williamson, Justin Penn, and Cooper Walker break down the most recent rulings and regulatory updates, to make sure you know everything that you need to know in this week’s Compliance Digest.
- More details here
- This series is sponsored by Bedard Law Group
WORTH NOTING: It’s likely that a lot of your employees and co-workers are taking shortcuts with respect to information and data security … How to be on the lookout for, and treat, seasonal affective disorder … Seven tips to help you stay healthy if you are traveling during the holidays … About 1 million taxpayers are about to get $1,400 each from the IRS … Expensive gift ideas that the recipient likely doesn’t want … The fastest-growing jobs in 2024 … The best and worst of the NFL in 2024 … Clinical psychologists weigh in on how to help you choose a New Year’s resolution.
Music Monday, part I
Music Monday, part II
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