Daily Digest – April 7. PrivacyStar Touts Effectiveness; Mass. Lawyers Don’t Need Licenses To Collect

The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide. 

PRIVACYSTAR TOUTS EFFECTIVENESS OF APP IN FILING COMPLAINTS

• The developer of the PrivacyStar app proudly announced that users of its app filed 31% of all complaints with the Federal Trade Commission, according to data released by the FTC. The share of complaints filed via PrivacyStar jumped to 31% in 2015, from 21% in 2014. Debt collection was the number one category of complaint filed by the app’s users.

MASS. LAWYERS DON’T NEED LICENSE TO COLLECT 

• Lawyers in Massachusetts will not need to be licensed as debt collectors, according to a ruling from the state’s Division of Banks. The Division sent out a letter on April 1 to a firm that had request a ruling on the matter. The ruling reverses a previous position that the regulator had taken saying that lawyers who collected debts did need a license.

LAWMAKERS GEARING UP FOR BATTLE AGAINST CFPB 

• Will payday lending be the Consumer Financial Protection Bureau’s waterloo? It appears as though many lawmakers — especially Republicans — are gearing up to rhetoric to push back against the agency and it’s agenda. It should lead to an interesting hearing today for the Senate Banking Committee, when CFPB Director Richard Cordray will testify.

WORTH NOTING: Why being self-aware is a key to succeeding in business … Women earn $500,000 less than men during their working lives … A look inside the new corporate campus for Toyota … The “Glengarry Glen Ross” approach to bank sales does not work … The cost of owning a car is at a six-year low, according to AAA … The most popular restaurant chain in America surprised me … Astronaut James Lovell has put his Texas vacation home up for sale … The countries with the healthiest diets in the world … Five things Warren Buffett does after work … How the tiniest details have the biggest impact on your bottom line.

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The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.