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Home / Daily Digest / Daily Digest – April 17. House Republicans Taking Another Run at Weakening CFPB; How Long Healthcare Companies Wait Before Sending Accounts To Collections

Daily Digest – April 17. House Republicans Taking Another Run at Weakening CFPB; How Long Healthcare Companies Wait Before Sending Accounts To Collections

The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.

HOUSE REPUBLICANS TO TAKE ANOTHER RUN AT WEAKENING CFPB

  • Rep. Jeb Hensarling [R-Texas], the chairman of the House Financial Services Committee, has unveiled a plan that would “de-fang” the Consumer Financial Protection Bureau by changing the terms under which the director of the agency can be removed, scaling back its enforcement powers, and prohibiting the CFPB from publishing its consumer complaint database. Rep. Hensarling is expected to propose legislation later this month that would include all of these changes.

HEALTHCARE COMPANIES LIKE TO WAIT BEFORE SENDING ACCOUNTS TO COLLECTIONS

  • Nearly 80% of healthcare organizations wait at least 60 days before turning over unpaid accounts to collection agencies, according to a poll conducted Medical Group Management Association. More than 1,000 organizations participated in the poll. According to the results, 32% turn over accounts when they are more than 120 days days past due, 43% wait between 91 and 120 days before an account is past due before sending it to collections, 16% do so between 61 and 90 days, and 2% send accounts to collections before they are 60 days past due.

BANKRUPTCY FILINGS DECLINE IN FIRST QUARTER: ABI

  • The total number of bankruptcy filings declined slightly in the first three months of 2017, compared with the same period last year, according to data released by the American Bankruptcy Institute. The number of non-commercial filings declined 0.27% while the number of commercial filings increased 1%. Alabama, Tennessee, and Georgia were the states with the highest per-capita rate of bankruptcy filings, according to the ABI.

MAN SHOT IN KILLED, TWO FACING KIDNAPPING CHARGES IN SEPARATE COLLECTION INCIDENTS

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Daily Digest – April 19. Weltman Says CFPB Sued Because Firm Could Not Be ‘Strong-Armed’ Into Consent Order; Arguments Heard in Supreme Court FDCPA Case

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