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ILLINOIS SCHOOL DISTRICTS LOOK TO COLLECTION AGENCIES TO HELP FIND MONEY DURING BUDGET STALEMATE
- A budget stalemate in the Illinois legislature is starting to cause a lot of problems for school districts in the state, and some are looking at collection agencies as a source of emergency funds. In one school district, for example, $217,000 in unpaid fees are owed, and the district is considering hiring a collection agency to help recoup that amount. While the amount is a drop in the bucket of the district’s $17 million budget, without any money, the district will run out of money by next February.
LAWSUIT TOTALS AGAINST COLLECTORS PLUMMET IN APRIL
- There were decreases across the board in the number of lawsuits and complaints filed against debt collectors in May, according to data released today by WebRecon. There were 1, 500 lawsuits filed against collectors in May, alleging violations of the FDCPA, the FCRA, and the TCPA. That total is down 15% from the 1,776 suits that were filed in April. Overall, the number of FDCPA lawsuits is down 8% from a year ago, while the number of FCRA suits is up 26% and the number of TCPA lawsuits is 57% higher than the same period of 2015.
CFPB SPENDING MILLIONS IN ONLINE AD CAMPAIGNS
- The CFPB has spent $15 million in online advertising so far in this fiscal year, as it seeks to educate the public about consumer protection from unscrupulous or illegal financial products and services. The CFPB’s ad campaign ranks third among all government agencies, trailing only the Defense and Transportaion departments, according to a published report. The amount spent by the CFPB on advertising this fiscal year is twice as much as it spent last year, according to the tracking website.
BILL PROPOSED TO FORCE CFPB TO VERIFY COMPLAINT DETAILS
- Legislation has been introduced that would force the CFPB to verify and provide additional context for complaints added to the agency’s complaint database. The CFPB would have to take the step of verifying the information in a complaint if a violation of a law, regulation, or contractual breach is alleged.
WORTH NOTING: How an autocorrect mistake led to a new app … “Big soda” is about to lose a battle that will make their beverages way more expensive … Using these 10 words in a conversation can help you get what you want … 10 things that are worth splurging on at Costco or Sam’s Club … “Curb Your Enthusiasm” is coming back for a ninth season … Ummm, this is terrifying … Build the guitar of your dreams online … 10 things to never, ever do at work … Hatchbacks are making a comeback … The average cost of a data breach is $4 million, according to IBM … The deepest “money pit” in Atlantic City history is re-opening … A Facebook executive predicts the company will be all video and no words in five years.
Remembering Gordie Howe
Why flights take longer than they did 50 years ago
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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.
