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MISS. TOWN HIRING COLLECTION AGENCY
- The town of Fulton, Miss., is preparing to sign a contract with American Municipal Services to help collect tends of thousands of dollars in unpaid utility bills. Some of the delinquent accounts date back 20 years. The town is encouraging people to make contact with City Hall before being contacted by the collection agency, which will tack on additional fees.
SENATE BILL WOULD REFORM PAYDAY LENDING INDUSTRY
- A number of Senators have signed on to introduce a bill that would regulate the payday lending industry, especially online payday loans. Called the Stopping Abuse and Fraud in Electronic Lending Act, or SAFE Lending Act, would prohibit lenders from having automatic access to consumers’ bank accounts, require payday lenders to register with the Consumer Financial Protection Bureau, and ban the use of lead generators, which leads to fraudulent collection activity.
LOAN DELINQUENCY RATES HOLD STEADY
- Loan delinquency rates largely fell across all consumer lending categories in the fourth quarter of 2015, and those categories that did see increases only saw small ones, according to data released late last week by the American Bankers Association. The delinquency rate on direct and indirect auto loans rose marginally, as did those on RV loans, marine loans, and property improvement loans.
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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.
