Some quick links to start your Wednesday. Denver, San Francisco, and Portland, Ore., are three of the 10 cities where housing costs are hitting record highs … A report from the Consumer Financial Protection Bureau slammed student loan servicers, after the CFPB analyzed 30,000 complaints filed by consumers with the agency … What Warren Buffett does better than the rest of us … Google unveiled new phones and tablets yesterday … This seems like one of the most unlikely meetings ever … This is bad news for people like me: America’s trust in media is at an all-time low … Tesla has launched an electric SUV … Are there any media outlets that Donald Trump is not fighting with? … The state of Georgia executed its first woman in 70 years this morning … 20 mind-blowing facts about data.
- Cedric Clark, the owner of North Carolina-based Berkeley Hughes & Associates is in trouble with the federal government for forcing people to pay non-existent debts, debts which had already been paid, or amounts that were inflated by as much as 500%. The FBI had previously raided Clark’s home to investigate allegations of money laundering. Employees of the collection agency also posed as attorneys and law enforcement officials as a means of getting more people to make payments.
- The state of Oregon’s debt collection efforts “lack leadership” according to the Secretary of State, which is why the collection rate has dropped to 11% from 13% and why the amount of unpaid debt has soared above $3 billion. Currently, each state agency is responsible for collecting its own unpaid debts, but an audit report suggests having one agency take charge of the efforts.
- Reaction from yesterday’s Debt Collection Dialogue event in Dallas, hosted by the Federal Trade Commission, seems to be much more positive than the first time the FTC put on such a summit. Stay tuned to AccountsRecovery.net for a full recap of the event.
- Richard Cordray, Executive Director of the Consumer Financial Protection Bureau, had a rough day on Capitol Hill yesterday. He was grilled for more than three hours by members of the House Financial Services Committee, who are not necessarily big fans of him or his agency.
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