Warren Report Claims CFPB Rollbacks Have Cost Consumers $26.5B
- Senate Democrats say the CFPB’s overhaul has cost consumers $26.5 billion, and they dropped the number right as Russell Vought sat down for his oversight hearing. The Cato Institute calls the math “hopelessly oversimplified.” The fight over these figures previews the oversight climate the next confirmed director will inherit.
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Judge Dismisses FCRA Suit Against Furnisher Where Plaintiff’s Own Complaint Proved the Investigation She Denied
- A Pennsylvania judge dismissed an FCRA suit after the plaintiff accused a lender of skipping an investigation while admitting, twice, that the lender verified her disputes. One paragraph of her complaint even named a different defendant and called her “he.” Dismissed with prejudice, with a pointed word about candor.
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Judge Dismisses FDCPA Class Action Accusing State Agency, Collection Attorneys of ‘Zombie’ Student Loan Scheme
- A Maine judge tossed a class action accusing a state agency and its collection counsel of running a “zombie” student loan scheme, ruling the agency can’t be sued under the FDCPA and most claims against the attorneys were too late or too thin. A First Amendment claim over “confidential” court records failed too. A clean sweep for the defendants.
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Medical Debt Distributed Unevenly Among Races, Study Finds
- Black Americans had unpaid medical debts sent to collections at nearly double the rate of white and Hispanic borrowers, according to a Berkeley analysis of 23 million credit reports. The surprise: the gaps come from how many people owe, not how much. Essential reading for anyone collecting in healthcare.
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Capital One Releases Open-Source AI Security Tool That Hunts Vulnerabilities Before Hackers Do
- Capital One just open-sourced VulnHunter, an AI tool that thinks like an attacker to find exploitable code flaws before hackers do. Seven years after its landmark breach, the bank is positioning itself as a leader in AI defense, and raising the bar for what “reasonable security” may mean for everyone handling consumer data, including the ARM industry.
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Renkim Introduces Direct Statement, Delivering a Frictionless Approach to Digital Consumer Communications
- Renkim has launched Direct Statement, a mobile-first channel that pairs the familiarity of a traditional statement with the immediacy of digital delivery. It slots into existing print, SMS, and email workflows for organizations in regulated industries looking to boost engagement without sacrificing compliance.
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Compliance Digest – July 20
- The brightest minds in compliance are back to break down the week’s biggest developments. Mike Frost on the N.J. Supreme Court’s licensing ruling, Leslie Bender on HIPAA’s shifting priorities, JoAnn Needleman on the CFPB’s contradictions, Stefanie Jackman on the AI AGENT Act, plus insights from Issa Moe, Akeela White, Loraine Lyons, Brit Suttell, Sarah Doerr, James K. Schultz, Lori Quinn, Jason Esteves, Dale Golden, and Roshni Patel. Now sponsored by Frost Echols.
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- This series is sponsored by Frost Echols
WORTH NOTING: Members of Generation Z are more about instant gratification when it comes to prioritizing what they are saving up for … A debt relief company is pulling out the big guns to get the word out about its services … A New Jersey man is looking to set a world record for the number of pull-ups completed in a 24-hour period to help fight against medical debt … Go ahead, have that third, fourth, or even fifth cup of coffee, according to the American Heart Association … A look at auto insurance premiums, based on the different types of cars that are out there … Why you may want to consider using something other than a brand name AI tool … An important debate – should you roll or fold your clothes when you are packing a suitcase? … Design tricks to make a small home look bigger.
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.
