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CFPB FILES MOTION FOR HEARING TO ARGUE AGAINST APPEALS COURT RULING
- The Consumer Financial Protection Bureau has filed a motion to have the entire U.S. Court of Appeals for the District of Columbia to review a ruling that was issued last month that, among other things, declared the leadership structure of the agency to be unconstitutional. There are 17 judges on the court, three of which heard the original arguments in the case of PHH Mortgage v. CFPB.
DODD-FRANK CO-ARCHITECT SPEAKS OUT
- Finally, someone got the horse’s mouth to open up. Barney Frank, the former chairman of the House Financial Services Commission and one half of the architect behind the Dodd-Frank Wall Street Reform and Consumer Protection Act that, among other things, led to the creation of the CFPB, has shared his thoughts on President-elect Trump’s campaign promise to repeal the legislation. Frank said it’s impossible to figure out Trump’s plans before he announces them. “There’s a certain incoherence in his approach,” Frank said in a published report. “I don’t know. … I don’t think he does. How can I know more than he does about his intentions?”
SANTA FE, N.M. SIGNS AGREEMENT WITH COLLECTION AGENCY
- Rather than continue to write off debts, such as parking tickets, unpaid water bills, and ambulance bills, the city of Santa Fe, New Mexico is signing an agreement with Virtuoso Sourcing Group to go after those individuals. The problem is so bad that the city does not even actually know what the total unpaid balance really is. Virtuoso will keep 12% of whatever it collects.
DEBT RESOLVE REVENUE ANNOUNCES THIRD QUARTER EARNINGS
- Debt Resolve announced on Friday that its third-quarter revenues were up nearly 400% over the second quarter. The company also announced that its net loss for the quarter was significantly lower than the second quarter.
WORTH NOTING: A photographer went and studied call centers in India and the Philippines … Three reasons stress can make you healthier … U.S. small businesses are owed more than $825 billion in unpaid bills … The Seahawks used a cool trick play yesterday … Stephen Colbert and John Oliver got together to talk about the election … Let’s start talking serious deals on Black Friday, while Walmart is starting Cyber-Monday early this year … Will the company be called FanKings or DraftDuel? … 1,700 new millionaires are made every day … President-elect Trump is taking a hard line with his early Cabinet posts … Gas prices are falling … The cost for Thanksgiving dinner is down from last year.
Eight houses that are zombie proof
“Saturday Night Live” on Donald Trump’s preparations for the presidency
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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.
