Home / Daily Digest / Daily Digest – February 7. Optimistic Mood Brightens Industry at RMA Conference; Judge Grants Summary Motion in FDCPA Statute of Limitations Class-Action Case

Daily Digest – February 7. Optimistic Mood Brightens Industry at RMA Conference; Judge Grants Summary Motion in FDCPA Statute of Limitations Class-Action Case

The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.

 

OPTIMISTIC MOOD BRIGHTENS INDUSTRY AT RMA CONFERENCE

  • For the past few years, members of the debt buying industry have maintained an outlook of cautious optimism that there were good days ahead and that the days of dwindling supply and tougher market conditions were fading into the rearview mirror. That outlook appears to have been upgraded this year, judging by the mood of attendees at the Receivables Management Association’s 21st annual conference, which kicked off here yesterday.

 

JUDGE GRANTS SUMMARY MOTION IN FDCPA STATUE OF LIMITATIONS CLASS-ACTION SUIT

  • A federal judge in Illinois has granted a summary judgment motion for a class-action lawsuit against Midland Credit Management because a collection letter sent by Midland did not provide enough warning that a payment on a time-barred debt would re-start the statute of limitations clock on that debt.

 

COLLECTION M&A ACTIVITY FINISHES 2017 ON HIGH NOTE, LIKELY TO REMAIN HOT IN 2018

  • Interest and activity from companies looking to acquire collection agencies and other players in the accounts receivable industry continues to heat up, according to Michael Lamm and his team at Corporate Advisory Solutions, which published its quarterly newsletter yesterday morning. Even though there are still some uncertainties in the market, there is a “renewed interest” in companies looking to enter the ARM sector and market dynamics appear to be heralding an increase in the sale of debt portfolios.

 

COURT SETS DATE FOR ARGUMENTS IN ENGLISH APPEAL 

  • The Court of Appeals for the District of Columbia has set a date to hear arguments in the case of Leandra English against President Donald Trump. Arguments in the case will be heard on April 12. English has sued because she believes she should be the rightful acting director of the Consumer Financial Protection Bureau and not Mick Mulvaney. Time is not on English’s side, however, as the clock on Mulvaney’s tenure at the CFPB is ticking away.

 

CFPB NOT PURSUING INVESTIGATION INTO EQUIFAX BREACH: REPORT

  • The Consumer Financial Protection Bureau, under the direction of acting director Mick Mulvaney, appears to have backed away from an investigation into Equifax, following a data breach at the credit bureau last year, according to a published report. The investigation had been started under former director Richard Cordray, after Equifax announced the breach, which compromised the personal information of 143 million individuals.

WORTH NOTING: Best Buy is going to stop selling CDs at its stores … An 11-year old boy in New York died after he rescued a friend who fell through the ice on a frozen pond … President Trump has asked the Department of Defense to coordinate a parade in Washington, D.C., that would showcase the military … The walk from the house to the car is the new red carpet for celebrities … The 11 worst email mistakes that everyone makes … The cities where you want to be a home seller right now … Josh McDaniels has decided not to become the next head coach of the Indianapolis Colts … Where Americans pay the most in state income taxes … Sexual misconduct allegations continue to cost Steve Wynn jobs … The worst credit card habits you need to break now … So excited to be able to watch curling again. And no, I’m not joking. And don’t judge me … Cryptocurrency’s richest people.

Why saying “I don’t know” is a key to being successful

Watch a Tesla get launched to Mars

The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.

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