Daily Digest – December 22. Courtroom Double Standard; Student Lending Changes

COLLECTION COURTROOM DOUBLE-STANDARD?

  • Is this a double standard? Debt buyers like Midland Funding can sue consumers to recover unpaid debts, but are not allowed to be sued by consumers when they do something wrong, like try to collect debts in states in which they are not licensed to do so? In those cases, consumers must use private arbitration to have their day in court.

TODAY IN STUDENT LENDING

  • A number of Senators, including Elizabeth Warren [D-Mass.] and Orrin Hatch [R-Utah] sent a letter to the Department of Education yesterday, raising concerns about the federal agency now being allowed to make automated robocalls to people with delinquent student loans. The letter called on the Department to present data that proved using the technology would help improve collection rates. Meanwhile, President Obama signed a bill into law yesterday that, among other things, creates a new system for distributing student loan accounts to collection agencies.

COLLECTION BRIEFS

  • Using a third-party service to send blast faxes or make telephone calls may not be enough to insulate companies from actions under the Telephone Consumer Protection Act, according to a recent Circuit Court decision … An Ohio township is going to pay a collection agency $41,000 per year to collect its municipal taxes.

WORTH NOTING: Ford and Google are in talks to have the automaker build self-driving cars for the technology company … The financial benefits to buying what you love … Tech talent will be harder to find and retain in 2016 … The 50 coolest new businesses in America … In honor of the 25th anniversary of the first-ever website going live … Elon Musk makes history with rocket landing … The risks of long-term regular drinking … Another E. Coli outbreak at Chipotle … BMW fined $40 million for safety recall violations … 10 must-have apps for your smartphone or tablet … Uber competitor Lyft is raising $1 billion.

If you’re not watching this, you should be

How UPS will deliver 36 million packages – a company record – in one day today

A Hillary Christmas
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