Daily Digest – February 2. Operation Choke Point on Chopping Block; Town Writes Off Unpaid Debts

CHOKING OUT OPERATION CHOKE POINT 

• The House of Representatives is scheduled to debate legislation this week that would bring an end to Operation Choke Point, a regulatory initiative that sought to prevent certain types of industries — including debt collections — from receiving financial services. The House Financial Services Committee approved a measure last summer that would prevent regulators from enacting similar measures in the future. The matter now goes before the full House.

THREE STRIKES AND TOWN IS OUT 

• The town of Rutland, Vermont, is getting ready to write off more than $300,000 in past-due debts that have been deemed “uncollectible.” The debts are mainly for ambulance service and were outsourced to a collection agency, which was tasked with trying to collect three times before handing the accounts back to the town.

WORTH NOTING: Results from yesterday’s Iowa caucuses … The Iowa caucus claims its first victim: Maryland governor Martin O’Malley … A side-by-side comparison of title loans and payday loans … Bank tellers are now a security risk for cyber-crime and identity theft … How to hire employees who are going to stick around … Apple is de-throned as the most valuable company in the world … 10 habits that will make you a millionaire … BP is cutting 7,000 jobs … Sales of recreational marijuana topped $1 billion in 2015 … Sesame Street is getting into venture capital … A sneak peek at this year’s Super Bowl ads … 2015 was the hottest year on record.

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