Daily Digest – September 29. New App Takes Aim At Medical Collections; House Working on CFPB Reform Bills

Some quick links to start your Tuesday. Volkswagen is facing more than two dozen lawsuits and billions of dollars in penalties related to its faulty emissions claims for its diesel cars … There is no such thing as a hot hand … For every 30 minutes working in an office, people should sit for 20 minutes, stand for eight minutes and move around for two minutes, according to a new study … Donald Trump released his tax plan … Noted investor Carl Icahn has a dire warning for investors … The 50 most powerful companies in America; Wells Fargo is the top financial services company at No. 24 … Three smart strategies you should be using on LinkedIn … Keurig is launching a cold drink machine … Fifth Third Bank reached an $18 million settlement with the Consumer Financial Protection Bureau after the bank was accused of discriminating against minority auto loan borrowers. Minority borrowers paid, on average, $200 more than white borrowers on car loans.

NEWS 

• MedPilot is a new service that aims to automate the collection process for unpaid medical debts. The service says they “put the power back in the patients’ hands” with earlier intervention and more payment options, including settlements. The current system of using medical debt collection agencies only collects $0.07 on the dollar and is “ineffective” and harms the patient/provider relationship.

• An plan to allow installment payments for probation fines is on the back burner in central Florida. Nearly three-quarters of fines for one-year probation sentences are not paid and are sent to third-party collection agencies.

• From ACA International: The House Financial Services Committee is marking up two bills this week that would dramatically overhaul the Consumer Financial Protection Bureau. One bill would install a presidential-appointed Inspector General and the other would remove the CFPB from under the protection of the Federal Reserve Board and establish it as a standalone regulatory agency.

• The payday lending industry marked a victory over the federal government last week when a District Court judge allowed a lawsuit against the FDIC, Federal Reserve, and Office of the Comptroller of the Currency to proceed in regard to Operation Choke Point.

“The Daily Show” got a new host

The Waldorf-Astoria isn’t safe enough for the president anymore

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