Daily Digest – August 11. Commentator Goes After Collectors, Trump in Same Tirade; Lawyer Raises Questions Over Substantiation Proposal

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RADIO COMMENTATOR GOES AFTER DEBT COLLECTORS AND TRUMP IN SAME TIRADE

• Debt collectors are “rampaging” and stealing from “thousands” of individuals every year, according to radio commentator and columnist Jim Hightower. “Hundreds” of collection firms are “marauding” across the country. But, at the same time, “Trumpish Republicans” are considering abolishing the Consumer Financial Protection Bureau, which is trying to “protect the victims of corporate thievery.” This guy is very good at making sure he blames everyone for the problems of the world. And for not being able to make a point.

LAWYER RAISES QUESTIONS OVER CFPB PROPOSAL TO SUBSTANTIATE DEBTS 

• Gary Becker, an attorney at the law firm of Ballard Spahr, who also previously started and ran a collections agency, lays out several potential issues for collection agencies that will attempt to comply with the proposals put forth by the Consumer Financial Protection Bureau, especially the it comes to collectors substantiating the debts of an individual prior to initiating collections activity. Becker raises a number of important questions and says that it is “unlikely” that smaller collection agencies will be able to develop the required regulatory framework to comply with the proposals, should they be enacted.

 

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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.