Getting to Know Jake Richards of State Collection Service
- The decisions that we make, which we don’t think are big at the time … This profile of Jake Richards was “this” close to appearing in “Porta-Potty Professional” monthly magazine instead of a collections website. Everyone at State Collection Service is happy Jake chose a career as a collector instead, and everyone in the industry is learning just how much of an asset that he is. Read on to learn more about Jake, his recommendation for a “must-watch” TV series, and how he makes sure never to lose sight of the importance of being a good communicator.
- More details here
- This series is sponsored by TEC Services Group
Attempt to Revisit FDCPA Standing Ruling Rejected
- A District Court judge in Kansas has denied a defendant’s motion for reconsideration of an order denying its motion for summary judgment in a Fair Debt Collection Practices Act case on whether the reputational harm of purportedly falsely furnishing information to the credit reporting agencies is enough for the plaintiff to have standing to sue.
- More details here
DFS Reminds Regulated Entities: You Can Outsource Services to Third Parties, Not Accountability
- The New York Department of Financial Services has released new cybersecurity guidance emphasizing how regulated entities should manage the growing risks tied to third-party service providers. Acting Superintendent Kaitlin Asrow issued the guidance this week, which falls during Cybersecurity Awareness Month, warning that while vendors bring innovation and efficiency, regulated companies remain ultimately responsible for safeguarding consumer data and maintaining cybersecurity compliance.
- More details here
Consumer Advocacy Pushes States to Rein In Earned Wage Access, Payday Lenders
- The Center for Responsible Lending is warning state and federal officials that payday loan apps, often marketed as “earned wage access” products, are trapping consumers in the same cycle of debt as traditional payday loans. In its new report, Nickel and Dimed: How Payday Loan Apps Drain Workers’ Pay and How to Stop Them, the advocacy group urges lawmakers and regulators to close loopholes that allow fintech lenders to operate outside consumer lending laws. The group says these apps, promoted as convenient cash advances, are actually high-cost loans that draw repeatedly from workers’ paychecks and extract triple-digit annualized fees.
- More details here
WORTH NOTING: A lot of employees don’t think their jobs are “quality” jobs … A lot of aging Americans expect Social Security to help them make ends meet, but most are concerned they won’t get everything that is coming to them … Probably a ruling that is not worth writing about, but it’s this kind of behavior that gives professions a bad name … Reasons why you shouldn’t take advice from people on social media about how to get out of debt … How long before this becomes a movie that makes you wonder whether you have this kind of strength … If you are looking for a cheap laptop, here is a list of the best ones under $500 … Scientists can now tell how fast you are aging. The trick is to slow it down … A report from Goldman Sachs on who is bearing the brunt of the impact that tariffs are having on the economy.
Top 10 Thursday, part I
Top 10 Thursday, 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.
