Editor’s Note: AccountsRecovery.net is hosting a free webinar on Tuesday, July 26 at 1pm EDT to provide insights and actionable advice to help collection agencies bullet-proof their Compliance Management Systems. A top-notch panel of experts has been assembled and everyone should sign up to learn how to put togther an effective CMS. Register here before it’s too late.
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.
CFPB SCHEDULES DEBT COLLECTION FIELD HEARING; OUTLINES OF PROPOSED RULE EXPECTED TO BE RELEASED
- The Consumer Financial Protection Bureau announced on Friday afternoon that it has scheduled a field hearing on July 28 in Sacramento, Calif., to discuss debt collection. It is expected that the agency will release outlines for its proposed debt collection rule at some point within a 12-to-24 hour period prior to the start of the field hearing. The field hearing is open to the public, although an RSVP is necessary for attending the event. The industry will have less than 30 days to review the rule prior to the commencement of the Small Business Regulatory Fairness Enforcement Act hearing, which is expected to be held the week of August 22.
WOMAN DETAILS CAREER AS PROFESSIONAL PLAINTIFF
- Have you ever wondered how professional plaintiffs operate? How they manage to be called by organizations or institutions that are actually looking for someone else, and then sue those entities for violating the Telephone Consumer Protection Act? Well, it largely involves buying as many pre-paid phones as you can afford. One professional plaintiff detailed her strategy and motives in a recent deposition that should be required reading for anyone in the collection industry.
FCC’S ACTIONS GENERATING A LOT OF HEAD SHAKING, ESPECIALLY FROM COLLECTIONS INDUSTRY
- There is a lot of confusion and questions surrounding the actions of the Federal Communications Commission, specifically what it is doing to the Telephone Consumer Protection Act. There are a pair of proposed rules, which would both allow autodialer calls when made on behalf of the federal government, but one of the proposed rules includes calls for debt collection purposes and the other does not mention it. But the FCC has only acted on the proposed rule that does not mention whether debt collection calls are covered. So, when someone writes, “The FCC is a mess,” it’s not far from the truth.
COLLECTION AGENCY SUED FOR TRYING TO COLLECT ON WRITTEN OFF STUDENT LOANS
- A class-action lawsuit has been filed against a collection agency, Balboa Student Loan Trust, and its owner, Turnstile Capital Management, for allegedly trying to collect on unpaid student loans that were actually written off by the federal government. The collection agency calls one plaintiff up to five times a day trying to collect, as it tries to collect on loans it purchased when a pair of for-profit colleges collapsed in 2014.
GET TO KNOW: JACK GORDON
- Get to know Jack Gordon, the CEO of WebRecon. Jack details the two-word change to the Fair Debt Collection Practices Act that would put him out of business and what he’d likely do next if that ever happens and the challenges that are facing the future of the collections industry.
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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.
