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SENATORS ASK GAO TO STUDY IMPACT OF FINTECH ON BANKING, INCLUDING ENFORCEMENT OF FDCPA
- A number of Senators have written to the Government Accountability Office, requesting a federal study on the impact of updated technology in the financial services industry (fintech), including the Fair Debt Collection Practices Act. The last study was conducted in 2011 and since that time, technology in the industry has branched out and expanded and should be looked at again. The enforcement of the FDCPA in the light of changes in technology was one of a large number of areas the Senators cited in their request.
COURT RETROACTIVELY APPLIES LAW ALLOWING CALLS TO CELL PHONES WITH AUTODIALER
- A federal court in California has ruled that enforcing the prohibition allowing collectors to call cell phones using an autodialer applies retroactively, before changes in the law prohibited the calls from being made. The debt in question was a federally guaranteed student loan, and as of November 2015, collectors were allowed to begin using autodialers to contact delinquent debtors on their cell phones. The calls pertaining to this lawsuit were made in January 2014 and the lawsuit was filed a month later, nearly two years before the changes allowed the calls. The court determined that the changes to the law did not mention any prohibition about it being applied retroactively.
WORTH NOTING: Six ways to improve your email communication skills … Payday lending is being regulated out of existence; but what will replace it? … When clients ask for discounts, ask them why … Banks are still too big to fail … The science of making friends … A storm over Houston is dropping a month’s worth of rain per hour … Employees are the happiest they have been in years … Nordstrom is cutting 400 jobs … A McDonald’s in Missouri is offering all-you-can-eat french fries … A woman will be on the $20 bill … Quitting is for winners.
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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.
