Home / Daily Digest / Daily Digest – June 14. Execs Share Ideas to Attract, Retain Top Talent; BCFP Fines Payday Lender $5 Million Over Collection Tactics

Daily Digest – June 14. Execs Share Ideas to Attract, Retain Top Talent; BCFP Fines Payday Lender $5 Million Over Collection Tactics

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.

 

EXECS SHARE IDEAS TO ATTRACT, RETAIN TOP TALENT

  • “Stay” interviews. Recruitment cards. Referral bonuses. These are just some of the ideas shared by a panel of executives during a webinar yesterday about maximizing employee performance and minimizing employee turnover. The executives had a tone of great ideas during the webinar, which was sponsored by DAKCS Software Solutions.

 

BCFP FINES PAYDAY LENDER $5 MILLION OVER ILLEGAL COLLECTION ACTIVITIES 

  • The Bureau of Consumer Financial Protection has announced a $5 million settlement with Security Group Inc., and its subsidiaries, Security Finance Corp. and Professional Financial Services Corp., after the payday lender was accused of engaging in unfair, deceptive, abusive acts or practices related to how it collected on those loans. The UDAAP violations were largely a result of in-person collection attempts made by the defendants in an attempt to get individuals to make payment on their debts, according to the consent order.

 

AGENCY OWNER INDICTED IN $20 MILLION FRAUD MUST REMAIN IN JAIL UNTIL TRIAL, APPEALS COURT RULES

  • A California man who owned a collection agency and is awaiting trial on allegations he ran a $20 million fraud scheme had his appeal denied and must remain in jail until his trial starts in September. Charles Stanley was out on bail after being arrested last June, but had it revoked after he allegedly continued to commit collection-related crimes while out on bail. He appealed the detention to the Court of Appeals for the Ninth Circuit, which denied the request last week.

 

COAST PROFESSIONAL ANNOUNCES NEW HIRE, PROMOTIONS

  • Coast Professional has announced a new hire and a pair of promotions. Harold Wickline has joined the collection agency as senior vice president of operations. As well, the company has promoted Jonathan Prince to chief operating officer and Annemarie Buchanan to vice president of compliance.

 

MCWATTERS OUT AS POTENTIAL BCFP DIRECTOR: REPORT

  • J. Mark McWatters, long rumored to be the likely nominee to be the next permanent director of the Bureau of Consumer Financial Protection, is no longer a candidate, according to a published report. McWatters, who is currently the chairman of the National Credit Union Administration, the federal agency that oversees and regulates credit unions, will remain with the agency.

 

WORTH NOTING: In honor of the World Cup starting today, here are some of the tournament’s most shocking moments … This ex-Yankees pitcher has a lot of free time on his hands these days … A lobster that looks like cotton candy is one thing. Anyone else wondering if it tastes like it, too? … Most millennials don’t expect to work too long … How to set up an office to show that you trust your employees … A minimum-wage worker can’t afford a two-bedroom apartment anywhere in the U.S. … Everyone wants things delivered, but there aren’t enough drivers to meet the demand … The White House is hosting a job fair … Californians will vote on a proposal to split the state into three.

Does your job match your personality?

Would you try the spicy death taco challenge?

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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