All 50 State AGs Unite Behind Tougher FCC KYC Rules
- There aren’t many issues that get all 50 state attorneys general, Republican and Democrat alike, on the same page. Robocall enforcement is one of them. The coalition is pushing the FCC to require voice providers to dig deeper into who their customers are and what they do, and a framework the AGs cite by name flags third-party debt collection as a higher-risk category deserving elevated scrutiny. If your agency makes outbound calls, the questions your carrier asks are about to get harder. Here’s what the AGs want, and why it matters to you.
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Judge Trims Defense Expert Testimony in FDCPA Class Action Over Collection Suits
- The defendants in a class action accusing student loan trusts of filing “sham” collection suits got one shot at an expert to explain how securitization works. A federal judge in New York has now drawn the lines around what that expert can and cannot tell a jury, and some of the exclusions cut close to the heart of the defense. His deposition explanation for why the loan schedules were blank is worth the click on its own.
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Judge Rejects Bid to Send FCRA Suit Back to Small Claims Court
- A pro se plaintiff found language in a cardholder agreement saying claims filed in small claims court must remain there, and argued it meant her FCRA suit could never be removed to federal court. A judge in California saw it differently, and the reasoning, which turns on where in the agreement that language sits, offers a useful roadmap for defendants facing the same argument. A second judge in the same district recently reached the same conclusion about nearly identical language.
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State Appeals Court Upholds Denial of Reconsideration in FDCPA Suit Over Repossessed Vehicle
- A couple paid $29,000 in cash for a Lexus, took it home, registered it, and got a title. Six months later, creditors of the person who sold it to them had it towed off their driveway under a judgment against the seller. Their 10-count lawsuit, including an FDCPA claim, went nowhere, and the Wisconsin Court of Appeals has now explained why merely taking “umbrage” with a court’s ruling is not grounds for reconsideration.
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Why AI Could Make Bank Customer Service Worse Before It Gets Better
- Ninety-three percent of bank executives think their customer support is excellent or good. Only 68% of their customers agree. New Deloitte research suggests institutions racing to automate their contact centers may be solving for cost when the real problem is experience, and the consequences of getting it wrong include customers walking out the door. The framework for deciding which interactions belong with AI and which belong with humans should look familiar to anyone running a collection floor.
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Consumers Want Installments, Just Not From BNPL Providers
- Buy now, pay later was supposed to kill the credit card. Instead, it may have taught card issuers how to fight back. New PYMNTS data shows consumers using credit card installment plans at more than twice the rate of BNPL, with the gap widening, and the numbers on who is actually using BNPL upend two of the product’s founding narratives about age and income.
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40 Companies Seeking Collection Talent
- Looking for your next opportunity, or looking to fill a seat? This week’s roundup aggregates more than 40 open positions across the industry, from entry-level collector roles to VP and director openings in compliance, legal, revenue cycle, and technology, with plenty of remote options in the mix.
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WORTH NOTING: Getting to the real reason why Apple is now offering a leasing program on most of its products … Homeowners across the country have a little more equity thanks to rising home prices … Nearly half of consumers would go into debt in order to maintain their beauty routines … Chatbots are just as good as humans at offering everyday emotional support … People expecting Russell Vought to fade away from the Consumer Financial Protection Bureau when his stint as acting director ends may not be happy with this news … How to spot AI fakes before it ends up costing you money … If you are thinking about leaving a prized possession to a friend or loved one after you pass, they may not want it … How to celebrate National Chicken Wing day today.
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.
