Judge Vacates CFPB Medical Debt Credit Reporting Rule
- A federal judge in Texas has vacated the Consumer Financial Protection Bureau’s rule prohibiting the inclusion of medical debt in consumer credit reports, siding with industry trade groups and the Trump administration in a high-profile legal battle over the Bureau’s regulatory authority.
- More details here
CFPB, FirstCash Reach $9M Settlement Over Military Lending Act Violations
- The Consumer Financial Protection Bureau has reached a $9 million settlement with FirstCash and 19 of its subsidiaries, resolving allegations the company violated the Military Lending Act by issuing unlawful pawn loans to active-duty servicemembers and their families. The proposed settlement, which needs to be approved by a federal judge, will end an enforcement action that began back in 2021 when the company was sued by the Bureau.
- More details here
AI Startup Murphy Raises $15M
- Barcelona-based Murphy has raised $15 million in a funding round led by Northzone to scale its artificial intelligence-based debt collection platform. Other participants in the funding included ElevenLabs, Lakestar, and Seedcamp.
- More details here
Judge Grants Motion to Compel in FDCPA Case Involving Wife
- A District Court judge in Georgia has ruled that the wife of a man who signed a contract to purchase a vehicle only to default on the contract, leading the vehicle to be repossessed is bound by the terms of the agreement even if she didn’t sign it because she literally inserted herself in the situation when she got into the vehicle in order to prevent the repossession from taking place and then sued, alleging the lender and the repossession agent violated the Fair Debt Collection Practices Act and Georgia state law.
- More details here
Compliance Digest – July 14
- When it comes to lawsuits and regulatory updates, reading what is going on is important, but what’s usually more important is having someone explain the updates and rulings in plain English. Enter the weekly Compliance Digest, in which industry experts — Stefanie Jackman, Nick Prola, Mike Frost, Akeela White, John Marees, and Mitch Williamson — tell you exactly what you need to know about all the compliance news in the credit and collection industry.
- More details here
- This series is sponsored by Bedard Law Group
WORTH NOTING: A deep dive on the efforts of the Trump administration to abolish the CFPB and where things stand for those working at the Bureau today … The five rules of engagement if you are dealing with members of Generation Z … A list of the biggest healthcare data breaches during the first half of 2025 … The House Financial Services Committee is holding a hearing tomorrow to celebrate the 15th anniversary of the Dodd-Frank Act becoming law … If you are always late, mental health experts may have an explanation for you … If you feel guilty about taking your vacation days, you are not alone … The reasons why women are slower to start using AI when at work … How America fell head over heels for “Love Island.”
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.
