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ORACLE EXECS SHARE DETAILS OF NEW DEBT COLLECTION TECHNOLOGY PLATFORM
- AccountsRecovery.net interviewed a pair of executives from Oracle to obtain more details and information about the company’s new debt collections platform. The executives provided not-previously published details about the two main pillars of the system, the customer-centric way in which data is organized, and the self-help component that puts more control into the hands of the individuals.
FTC SETTLEMENT BARS PAIR FROM COLLECTIONS INDUSTRY FOR LIFE
- The Federal Trade Commission yesterday announced a settlement that will bar two individuals — Luis O. Carrera and Roberto Llaury — from the collections industry for life. The pair, along with three companies they operated, were accused of using intimidation and lies to extract payments. They must also repay $110,000 out of a suspended $4.8 million judgment.
CIRCUIT COURT ISSUES CONFLICTING OPINION ON INCLUSION OF INTEREST AND COSTS IN VALIDATION NOTICES
- The Court of Appeals for the Second Circuit has vacated the dismissal of a complaint and issued a conflicting opinion to what other Circuit Courts have ruled by saying that it is a violation of the Fair Debt Collection Practices Act when a collector failed to disclose that a balance may increase due to interest and costs. The collector had been following a safe harbor that was affirmed by the Seventh Circuit which stated only the unpaid principal balance in a validation notice.
CFPB BRIEFS MOST COMMONLY FOCUS ON FDCPA ISSUES
- The majority of amicus briefs filed by the Consumer Financial Protection Bureau have involved the Fair Debt Collection Practices Act, according to an analysis conducted by the law firm of Baker Donelson. More than 40% of the 34 briefs it has filed related to the FDCPA.
WARREN AMONG GROUP OF EIGHT SENATORS ASKING FOR ADDITIONAL PROTECTIONS FOR STUDENTS OF TRUMP UNIVERSITY
- Sen. Elizabeth Warren [D-Mass.], along with seven of her colleagues, sent a letter yesterday to the Consumer Financial Protection Bureau, the Federal Trade Commission, the Department of Education, and the Department of Veterans Affairs, blasting Trump University, saying it “engaged in unfair and deceptive marketing and potentially fraudulent activity that deceived consumers regarding the company’s status as a university.”
WORTH NOTING: Another tragic terror attack in France kills more than 80 people … Any guesses as to what the average credit score is for individuals in the U.S.? … Donald Trump’s selection of Indiana Gov. Mike Pence as his running mate may be a good thing for the banking industry … 60% of Americans are already “exhausted” with the amount of election coverage … Consumer Reports has harsh words for Tesla’s “autopilot” self-driving feature … Fiat Chrysler is hiring 1,000 people in northwest Ohio … Hillary Clinton has aired more than 30,000 ads since clinching the Democratic nomination for President. Donald Trump has run zero ads … Is this the weirdest-looking building in America? … The business etiquette guide to emojis … How to create an instant connection with anyone … The Nintendo Entertainment System is coming back and I, for one, am excited … Is Von Miller worth $70 million guaranteed? … Law firms are helping new lawyers pay off their student loans.
A pretty cool outdoor camera
The foods that regular people think are healthy, but nutritionists do not
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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.
