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REP. HENSARLING SENDS LETTER SEEKING CFPB COMPLIANCE WITH APPEALS COURT RULING
- Rep. Jeb Hensarling [R-Texas], the chairman of the House Financial Services Committee, has sent a letter to Richard Cordray, executive director of the Consumer Financial Protection Bureau, seeking assurances that the agency will comply with the appeals court ruling that declared the leadership structure of the CFPB to be unconstitutional and that the regulator violated due process. Rep. Hensarling has been a vocal critic of the CFPB and has introduced legislation that would overhaul the organizational structure of the agency.
WHAT THE APPEALS COURT FOCUSED ON DURING TCPA HEARING
- Here is another summary — from a D.C. law firm — of last week’s oral arguments in the case of ACA International vs. the Federal Communications Commission challenging changes to the Telephone Consumer Protection Act made but he FCC in July 2015. This summary provides a quick overview of the types of questions asked by the three appeals court judges and how those questions may provide some insight into how the appeals court will rule.
FIVE ‘LIES’ THAT COLLECTORS TELL CONSUMERS WHEN TRYING TO COLLECT
- It was kind of a slow news weekend and it can be enlightening and helpful to see how the mainstream media is trying to educate the public about the perils of debt collections and the tactics of debt collectors, so here is an article that lists five “lies” that debt collectors tell consumers when trying to collect a debt. The five lies seem to come straight out of the press releases sent by the Federal Trade Commission when they details their lawsuits and settlements with debt collectors who engage in illegal activities.
NEWLY ISSUED SUBPRIME CREDIT CARDS HAVE HIGHER DELINQUENCY RATES THAN OLDER CARDS: REPORT
- There has been a “surge” in delinquency rates on newly issued credit cards to subprime borrowers, according to data released by TransUnion. About 3% of outstanding balances on credit cards issued in 2015 were at least 90 days delinquent, compared with 2.2% for cards that were issued in 2014 and 1.5% for cards issued in 2013. A ramp-up in subprime lending and a subsequent loosening of credit underwriting standards are the culprits for the increase in delinquency rates.
WORTH NOTING: AT&T is spending $85 billion to buy Time Warner Cable … How to tell a great story without endlessly rambling … How to use social media to grow your business … Ticket prices for a “historic” World Series are sky high … The election is hurting coffee sales at Dunkin’ Donuts … Nine factors to land your dream job … America’s worst cities to live in … The average cost of daycare is probably higher than you think … Who knew there was a Haunted House industry? … Now is the time to ask your boss for a raise.
My kids are spending most of their free time doing this, too
Another debate, another clip from “Saturday Night Live”
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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.
