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SUPREME COURT DECISION NOT TO HEAR CASE DEALS DEBT BUYERS A BLOW
- The U.S. Supreme Court has denied a request from a collection agency to hear an appeal of a case where it was sued for charging an interest rate that exceeded the limit allowed in the state of New York, where the defendant lived. The debt buyer, Midland Funding, a subsidiary of Encore Credit, had appealed a Second Circuit Court of Appeals decision that ruled debt buyers are not exempt from state usury laws, even if the loans that are purchased were made by national banks. In this case, the original loan was made by Bank of America. The Supreme Court did not issue an opinion explaining its decision not to hear the case.
CONSUMER REPORTS PUBLISHES STUDY ON IMPACT OF STUDENT LOAN DEBT
- Consumer Reports has partnered with The Center for Investigative Reporting to produce a study that examines the impact of the student loan debt problem in the United States, and some of the figures are incredibly disturbing. Nearly 70% of individuals who participated in a survey say they have trouble making their student loan payments and the amount of debt individuals carry when they leave college forces them to delay other important decisions, like buying a house or getting married.
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This pairing worries a lot of people in the financial services industry
How firefighters overcome stress and anxiety
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The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.