Daily Digest – December 8. Collection Agency Owner Sues Attorneys for ‘Mafia’ Style Scheme; Schumer Says He Won’t Work With Republicans on CFPB Changes

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. 

COLLECTION AGENCY OWNER SUES PLAINTIFFS’ ATTORNEYS FOR ‘MAFIA’ STYLE SCHEME

• The owner of a New Jersey collection agency has filed suit against five plaintiffs’ attorneys for engaging in a “mafia-style” racketeering scheme that sought to create “professional plaintiffs” as a means of suing collection agencies and recovering large rewards in the form of attorney fees. As one industry professional put it yesterday, this is the industry’s version of “The Empire Strikes Back.”

BUSINESS BANKRUPTCY FILINGS CONTINUE RISING WHILE INDIVIDUAL FILINGS KEEP FALLING

• The number of businesses filing for bankruptcy protection and the number of consumers filing for it continue to move in the opposite directions, according to data from the American Bankruptcy Institute. The number of businesses that filed in November was 12% higher than a year ago, while the number of individuals who filed was 11% lower. Overall, bankruptcy filings were down 10% in November, compared with last year.

SCHUMER SAYS HE WON’T WORK WITH REPUBLICANS ON CFPB CHANGES

• The leaders of four banking trade groups are urging the Senate to change the leadership structure of the Consumer Financial Protection Bureau to a five-member commission from a single director. Sen. Chuck Schumer [D-N.Y.], the incoming Senate Minority Leader, has said he will oppose any legislation that seeks to change how the CFPB is managed.

WORTH NOTING: What it’s like to apply for a job in Dona;d Trump’s White House … President Barack Obama and Senate Majority Leader Harry Reid are trying to make sure that Democrats maintain control of the Federal Communications Commission … Sixty keyboard shortcuts that make you more productive … Professional wrestling executive Linda McMahon has been nominated by President-elect Trump to run the Small Business Administration … Business tools to help you work smarter instead of working harder … The 25 worst movies of 2016 … The color of 2017 is called “greenery” … The best places to work in 2017 … There is a device that lets thieves steal any car that uses a key fob … Donald Trump will not totally divest his business interests while president … A slideshow from the ceremony commemorating the 75th anniversary of the attack on Pearl Harbor … Starbucks plans to open 12,000 more stores, about half of them will be in China.

Just in time or Christmas: a tablet buying guide

Carpool karaoke with Madonna

If you have a tip or item you would like to share, or are interested in sponsoring the Daily Digest, please contact me at [email protected].

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.