Home / Daily Digest / Daily Digest – January 4. GAO Report Cites CFPB For Not Prioritizing Risks; Washington AG Wants to End Pocket Service for Unpaid Debts

Daily Digest – January 4. GAO Report Cites CFPB For Not Prioritizing Risks; Washington AG Wants to End Pocket Service for Unpaid Debts

The Daily Digest is sponsored by Microbilt. Designed to help debt collection professionals, MicroBilt’s platform of recovery and skip tracing tools provide quick, convenient, and current data that help you prioritize and successfully track people down and collect. Keep your skip tracing and debt recovery efficient and effective! Contact us to find out about our 90 Day Try Us Program. Call 800-884-4397 or visit www.microbilt.com.

GAO REPORT CITES CFPB FOR NOT HAVING PROCESS TO PRIORITIZE FINANCIAL RISKS

  • Lost in the holiday shuffle was a report from the General Accountability Office detailing how the Consumer Financial Protection Bureau lacks a standardized and agency-wide process for prioritizing financial risks to consumers and how it uses the tools at its disposal to address them.

WASHINGTON AG WANTS TO END POCKET SERVICE OF SUITS FOR UNPAID DEBTS

CFPB FINES USAA $15.5 MILLION FOR STOP PAYMENT ISSUES

  • The Consumer Financial Protection Bureau assessed $15.5 million in fines and penalties against USAA Federal Savings Bank yesterday for allegedly failing to honor requests from customers to stop payments on preauthorized electronic funds transfers and failing to initiate and complete error resolution investigations.

APPEALS COURT UPHOLDS RULING THAT INSURANCE CARRIER NOT REQUIRED TO COVER MARKETER FOR TCPA SUIT

  • The Court of Appeals for the Eighth Circuit has upheld a lower court’s ruling granting summary judgment in favor of an insurance company that did not cover a client that was accused of violating the Telephone Consumer Protection Act.

WORTH NOTING: A new Congress may have been gaveled into session yesterday, but it doesn’t look like much has changed with respect to the government shutdown … A woman who has been in a vegetative state for 10 years gave birth last month, prompting questions … Ticket prices for Monday’s college football championship are lower than expected … A for-profit university has canceled nearly $500 million in student loans that will end investigations by 59 state attorneys general … Companies seeking higher profits only help high-income individuals and not the middle class, according to new research … The hottest-selling vehicles of 2018 … What to expect from this year’s CES show in Las Vegas … Pills that cost $20 in one state cost $130 in another … Kevin Hart may host the Oscars after all … How the shutdown is hurting America’s poorest families … The Earth is drifting away from the Sun.

Hot springs hidden in a New Mexico forest

Funny Friday

The Daily Digest is sponsored by Microbilt. Designed to help debt collection professionals, MicroBilt’s platform of recovery and skip tracing tools provide quick, convenient, and current data that help you prioritize and successfully track people down and collect. Keep your skip tracing and debt recovery efficient and effective! Contact us to find out about our 90 Day Try Us Program. Call 800-884-4397 or visit www.microbilt.com

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