Consumers Are Turning AI Into a Daily Habit, and Money Management Is Part of the Routine
- The people on the other end of your calls and texts are getting comfortable letting AI handle their finances, and the longer they use it, the more they trust it. New data from PYMNTS shows experienced users are more than twice as likely to call AI essential for money management. See what that means for how consumers will expect to interact with you.
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Report: CFPB Shows Signs of Life, But New Direction Raises Questions About Who Gets Supervised
- The CFPB is leasing office space, recalling employees, and issuing supervisory requests again, but this is not the Bureau you remember. A new report suggests smaller institutions may face more scrutiny while big ones get a lighter touch. Read what the agency’s revival could mean for who ends up under the microscope.
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Judge Denies Motion to Compel Arbitration in FCRA Identity Theft Case
- An arbitration clause is only as good as your proof that the plaintiff actually signed it. A federal judge in Kansas refused to send an FCRA identity theft case to arbitration because the lender could not show the person who signed the contract and the person suing were the same individual. See why the motion failed even though the plaintiff never responded to it.
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Everyone Says Their AI Project Worked. The Numbers Say Otherwise.
- Two-thirds of contact center leaders call their latest AI project a success, yet more than half blew their budgets and nearly half of all projects are stalled. A new survey reveals the gap between what leaders claim and what the financials show, including the compliance risks lurking in unreliable tools. Find out what actually separates the winners.
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Judge Dismisses Claims Against Two CRAs, But Lets FDCPA, FCRA Claims Proceed Against CU and Law Firm
- A pro se plaintiff’s lawsuit over an allegedly concealed repossession survived motions to dismiss from a credit union and its collection law firm, thanks in part to a ruling that each new furnishing of inaccurate information can restart the FCRA’s limitations clock. Find out which claims survived, which were tossed, and why the timing argument backfired.
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State Appeals Court Won’t Undo Judgment for Consumer Who Argued, But Never Proved, Lack of Notice
- A consumer told a Texas court he never received notice of the hearing that produced a judgment against him, but saying it in court is not the same as proving it. The appeals court ruled his unsworn statement was argument, not evidence. See why the judgment stood and what it says about the finality of judgments.
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Compliance Digest – July 6
- A baker’s dozen of rulings and regulatory developments, from Ari Derman, Cooper Walker, Nabil Foster, Ron Canter, Anastasia Caton, Lauren Burnette, Rick Perr, Brendan Little, Michael Poncin, Caren Enloe, Drew Cicero, Brent Yarborough, and David Israel, who weigh in on the CFPB’s complaint portal overhaul and blocked layoffs, a string of FCRA and FDCPA rulings, arbitration wins, a judgment voided over faulty service, South Carolina’s medical billing law, and the Bureau’s new collaboration-first enforcement approach. Get the context behind the week’s biggest compliance news.
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- This series is sponsored by Frost Echols
WORTH NOTING: A list of the 12 worst grocery items to buy at Walmart … Artificial Intelligence is going to learn how to detect cancer from pigeons … How to make chili is at the center of a culture battle between two merging banks … Chances are, that photo you just took on your phone will never be looked at again … How Cisco created an AI agent that stopped people from using shadow AI … The best alternatives to Chrome and Safari if you are looking for a new browser … Forgotten health habits that Americans should consider reviving … How to feed a family of five at Chick-fil-A for under $45.
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.
