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PAYDAY LENDER WINS BAD CHECK APPEALS COURT RULING
- While all eyes — and most of the attention — is still fixated on what the Consumer Financial Protection Bureau released early Thursday morning, there is still a lot of other important news in the collections industry. The Fourth Circuit of Appeals in San Antonio, Texas, issued an opinion late last week that will continue to allow payday lenders to file criminal charges against individuals who write post-dated checks that subsequently bounce. State law in Texas treats post-dated checks that bounce differently than regular checks, but the payday lender has no influence over whether a district attorney chooses to investigate or ultimately file charges against an individual for writing a bad check.
CLASS-ACTION LAWSUIT SEEKS TO OVERTURN ARBITRATION CLAUSE
- Meanwhile, another case involving bad checks was ruled on at the District Court level. A class-action lawsuit against a private company that runs diversion programs on behalf of district attorneys for individuals who write bad checks seeks to have a private arbitration clause nullified. A district court has agreed, saying that the actions of the company must “be subject to judicial review.”
HOW MAINSTREAM MEDIA IS COVERING CFPB RULE PROPOSALS
- Perhaps not surprisingly, the mainstream media has been all over the Consumer Financial Protection Bureau’s proposed debt collection regulations that were issued early Thursday morning. Most of the coverage has lauded the CFPB’s efforts to protect the average consumer while touting that collectors will have a more difficult time contacting individuals. Here is a sampling of what consumers are reading and being presented with, so when they start talking about 30-day waiting periods and six-call limits, agents can be prepared. Meanwhile, one media outlet is praising the work of the CFPB, while at the same time wondering how the upcoming presidential election will impact the agency’s future.
DBA UPDATES CERTIFICATION STANDARDS
- DBA International has released version 4.0 of its certification program. The updated provisions include requirements on data security, a complete chain of title, and making sure the buyer receives the signed contract and other account level information that provides evidence of the debt.
WORTH NOTING: Why car sale numbers may not be everything that automakers are making them out to be … Four ways to respond when someone objects to what you’ve said … 13 gadgets and tools to help you manage stress … I know my son was mad that we forgot the release of the new “Harry Potter” book. If you have kids, I hope you didn’t feel the same wrath I did … 25 high-paying jobs for people who do not like stress … HBO has confirmed that Season 8 will be the last for “Game of Thrones” … Are wireless carriers getting ready to end their price war and stop offering discounts? … Do you have the DNA of an entrepreneur? … Banks are making it harder for businesses to get loans … How the Coyote Ugly bar is faring, 16 years after the movie was released … How a pocket version of the Constitution has become a best seller … Why the 8-hour workday is outdated.
I don’t ever plan to skydive, let alone trying it without a parachute
The Olympics start this week. Let’s kick off the coverage by looking at what’s inside the Olympic torch
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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.
