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.
Compensation Webinar: AccountsRecovery.net is hosting a free webinar on the topic of collector compensation on Tuesday, October 25 at 1pm EDT. The webinar is sponsored by Cornerstone Support. Register here.
MEMBER PROFILE: GETTING TO KNOW MICHAEL LAMM
- To say that Michael Lamm has been destined for the collections industry may be an understatement. Lamm has had collections running through his blood since high school, when he works for his family’s law firm. Read on to learn more about the Managing Partner of Corporate Advisory Solutions, a consultant and partner to collection agencies nationwide. Click here to read more about Michael and what makes him tick.
CFPB DENOUNCES APPELS COURT RULING IN BRIEF IN SEPARATE CASE
- The Consumer Financial Protection Bureau has begun to show its reaction to an appeals court ruling that declared its leadership structure unconstitutional and accused the agency of violating due process. In an unrelated case, the CFPB filed a brief last week, saying the ruling was “wrongly decided” and had “no basis in the text of the Constitution or in Supreme Court case law.”
LENDER USING SINGLES EVENTS, WINE TASTINGS TO CONNECT WITH CUSTOMERS
- Social Finance, or SoFi, an online lender, is hosting singles events, wine tastings, and offering career counseling as a way of connecting and forming relationships with its customers. The company has originated $5.5 billion of loans so far this year, up from $5.2 billion it originated in all of 2015. The strategy is working; 50% of the people getting mortgages from SoFi started out by refinancing their student loans with the lender.
IRISH COLLECTION AGENCY SENDS LETTER TO TWO-YEAR OLD
- A two-year-old in Ireland learned the hard way that individuals have to pay their bills. The child fell ill and was taken to the hospital. But the toddler’s parents were unable to pay the standard fee for a hospital visit – about $200. So the hospital sent the account to a collection agency, which sent a collection notice … to the child. Local politicians and regulators then got involved and the account was resolved “favorably.”
RUSSIAN COLLECTORS FACING ATTEMPTED MURDER CHARGES
- Debt collectors in Russia are facing attempted murder charges after trying to sell an individual’s great-grandchild to organ smugglers to help repay a $3,200 debt.
WORTH NOTING: The key takeaway from last night’s presidential debate: Donald Trump said he would not commit to accepting the results of the election if he loses … Fact-checking last night’s debate … The best 65 tweets from last night’s debate … Most of the 12 regional Federal Reserve Banks reported at least some form of economic growth, according to the Federal Reserve Board’s Beige Book … Five physical activities that will boost your mental strength … The CEOs of companies have a “significant influence” on the political leanings of their employees, according to a study posted in the Harvard Business Review … It now costs more than ever to go to the movies … High-paying jobs for people who do not like stress.
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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.
