Daily Digest – August 25. Panelist Shares SBREFA Expectations; FTC Bans Collector For Life

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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. 

PANELIST SHARES EXPECTATIONS IN ADVANCE OF CFPB SBREFA MEETING

• The Consumer Financial Protection Bureau will take the next step toward its debt collection rulemaking today when it hosts a SBREFA panel meeting at its headquarters in Washington, D.C. Along with representatives from federal agencies, 28 collection industry representatives will also be present to share their findings and analysis of the proposed areas the CFPB plans to address. One of the 28, Kelly Knepper-Stephens, the general counsel and chief compliance officer for Stoneleigh Recovery Associates, shares her thoughts and expectations about today’s meeting.

FTC BANS COLLECTOR FOR ILLEGALLY COLLECTING ON PAYDAY LOANS

• The Federal Trade Commission yesterday banned an individual from the collection industry for life, as part of a final order after he and his companies were accused of threatening lawsuits and arrests trying to illegally collect on debts. The individual allegedly knew he and his companies did not have the right to collect on the debts, but did so anyway.

TCN, INTERPOSE ANNOUNCE INTEGRATION

• TCN Inc., a provider of cloud-based call center technology for collection agencies, announced a strategic partnership with The InterProse Corp., a provider of cloud-based software applications for accounts receivable and debt management. InterProse has integrated TCN’s cloud-based contact center suite, Platform 3.0, into WebAR, its debt collection platform, enabling customers to increase collection rates and better streamline payment management and reporting capabilities.

ADVOCATES USE CANCER PATIENT AS PROOF OF BROKEN SYSTEM FOR JAILING INDIVIDUALS WHO CAN NOT PAY COURT COSTS, FINES 

• Here is another of those heart-rending anecdotes that consumer advocates and lawyers use as evidence that the collections industry is a cold, heartless thug. We wrote yesterday about a town in Arkansas that is being sued for putting people in jail who could not afford to pay the court costs and fines associated with writing bad checks. One of those people put in jail was a cancer patient who did 30 days and did not receive medication for other ailments while in prison.

CALIF. ASSEMBLY PASSES IDENTITY THEFT COLLECTION BILL

• The California Assembly has passed an industry-supported bill that changes how consumers, and debt collectors, handle debts incurred as a result of identity theft. Consumers must provide specific information when disputing a debt thought to be a result of identity theft, and how the collection agency must investigate the claim.

WORTH NOTING: The Federal Reserve Board will meet with a group of protestors as it struggles to finds its footing in an unstable economy … A four-sentence cover letter that is effective at landing job interviews … A new study says that one-third of Americans regret major choices in their lives. Here are six that may cause you heartache down the line … The CEO of a U.K. bank has sent an apology to his 75,000 employees for an alleged affair he was having … The world’s first self-driving taxi service has launched … An editor who was penalized $115 million for publishing an excerpt of a sex tape involving Hulk Hogan wants the wrestler to let him know if he wants his rice cooker and dishes … How much it really costs to own a dog … A federal judge has dismissed a lawsuit against Starbucks that said the company was cheating customers on iced coffee and tea by filling cups with ice … The casting of the next Mary Jane Watson in “Spider-Man” movie is causing racial tensions … A fisherman found a pearl worth $100 million but kept it under his bed for 10 years as a good luck charm … 20 must-have tech accessories for under $20 … Higher-paid CEOs get worse ratings from their employees.

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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.