Treasury Signals Potential Return of Private Collection Agencies for Student Loans
- A newly released set of agency responses to an inquiry from Sen. Elizabeth Warren [D-Mass.] sheds light on an interesting development for the credit and collection industry: the Treasury Department is actively exploring the use of private collection agencies to recover defaulted federal student loan debt, while defending its broader partnership with the Department of Education.
- More details here
Court Dismisses FCRA Claims Against CRAs in Signature Dispute Case
- A District Court judge in South Carolina has dismissed Fair Credit Reporting Act claims against the three major credit reporting agencies, finding they were not required to resolve a dispute over whether a plaintiff’s signature on vehicle financing documents had been forged.
- More details here
Ruling Highlights Pleading Gap Between ‘Contact’ and ‘Communication’
- A District Court judge in Florida has partially granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act lawsuit that centered on two weekday communications, finding that while the plaintiff plausibly alleged harm, she failed to sufficiently plead that a qualifying “communication” actually occurred under the statute. The decision highlights an important distinction for collection operations: alleging that contact occurred at an inconvenient time is not enough on its own if the nature of the communication itself is not clearly established.
- More details here
Gartner: 85% of Service Leaders Expanding Agent Roles in the Age of AI
- A new report from Gartner is pushing back on one of the biggest assumptions surrounding AI in customer service: that it will lead to widespread layoffs. Instead, the data points to something more nuanced and, for many in collections and financial services, more actionable.
- More details here
43 Companies Seeking Collection Talent
- Whether you want to work for a big company or a small one, or whether you want to work remotely or in an office, or whether you want to work for a creditor or a collector or a collection law firm, there is an opportunity waiting for you in this week’s job listings summary.
- More details here
The Memory Project by Collection Industry Veteran Heath Morgan Now Available on Audiobook, Narrated by Award-Winning Narrator Brandon J. Peterson
- Heath Morgan, a 20-year veteran of the collection industry, announces the release of the audiobook edition of his debut novel, The Memory Project, now available on Audible and Apple Books. The audiobook is narrated by award-winning narrator Brandon J. Peterson who brings the chilling and thought-provoking story to life.
- More details here
WORTH NOTING: State legislatures can be tricky to understand. Here are details on when a bill is actually “dead” … AI is forcing CEOs to make a hard choice: lay off employees or make them do more work … Even with health insurance, many Americans are terrified of medical bills, according to a new survey … Investinet is celebrating its 15-year anniversary … If you’re curious what might be the longest video that is on YouTube, this might be it … Why you need to stop going to bed with wet hair … A feng shui expert shares six tips to help transform your home … Here’s a hot take: “The Bear” is better without Carmy in it.
Wisdom Wednesday, part I
Wisdom Wednesday, 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.
