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CFPB, FTC ISSUE SEPARATE ENFORCEMENT ACTIONS AGAINST MEDICAL DEBT COLLECTOR, SELLER OF FAKE DEBT PORTFOLIOS
- Both the Consumer Financial Protection Bureau and the Federal Trade Commission issued separate enforcement actions yesterday. The CFPB tackled a medical debt collector that made it appear as though collection calls and letters were being sent by an attorney, even though they weren’t. The law firms have been ordered to pay more than $650,000 in fines and reimbursements. And the FTC filed another case against one of the Tucker brothers. This time, it was Joel Tucker who was accused of masterminding a scheme of selling fake debt portfolios.
SENATORS CALL ON TRUMP TO FIRE CFPB DIRECTOR CORDRAY
- A pair of Senators, Sen. Ben Sasse [R-Neb.] and Sen. Mike Lee [R-Utah] came out yesterday and called for President-elect Trump to fire Richard Cordray, the director of the Consumer Financial Protection Bureau. “It’s time to fire King Richard,” said Sasse.
SUPREME COURT RECONVENES WITH FDCPA CASE ON DOCKET
- The U.S. Supreme Court convened yesterday for its next session, and on the docket is Midland Funding, LLC v. Johnson, a case that questions whether filing a claim on a time-barred debt during a consumer’s bankruptcy proceedings violates the Fair Debt Collection Practices Act.
NEW START-UP AIMS TO BRING MORE INDIVIDUALIZED APPROACH TO COLLECTIONS
- A profile of a new collection technology start-up called Symend, which aims to bring a more individualized collection strategy to the industry. The technology aims to improve on the average collection rate, which the company pegs at 7%.
WORTH NOTING:The only five folders your email inbox will ever need … Resources to help you kill it on social media … Why small-time family doctors may be on the endangered species list … Are you blocking yourself from being as successful as you can be? … The fastest-growing jobs in America … Five places in America where you can live well for less than $40,000 per year … How a task management app came to be worth $425 million … Yahoo is changing its name as part of its sale to Verizon … President-elect Trump has announced three more members of its CFPB landing team.
A thrilling finish to last night’s college football championship
Looking back on President Obama’s best speeches
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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.
