Daily Digest – January 12. CFPB Release Report on Third-Party Collections; Cordray’s Job A Ball in Game of Political Ping Pong

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. 

CFPB RELEASES REPORT ON THIRD-PARTY DEBT COLLECTIONS

• This is going to be the news of the day for today and tomorrow and likely into next week and we’ll definitely have more on this, but for now, let’s start with the basics. The Consumer Financial Protection Bureau released a report late last night that reveals that one in four individuals claim to have felt threatened when contacted by a third-party debt collector. The CFPB is holding a debt collection event in Washington, D.C. later today.

CORDRAY’S JOB BECOMES BALL IN GAME OF POLITICAL PING PONG

• At the same time, a huge debate is brewing in Washington, D.C., over the future of CFPB Director Richard Cordray. Following a letter from two Republican Senators early thus week calling on President-elect Trump to fire Cordray once Trump takes office next week, Democrats have now lined up behind the head of the CFPB and are calling on the president-elect to let Cordray stay until his term expires in 2018.

DEBT BUYER WINS SUMMARY JUDGMENT IN DELEGATING DISPUTE TO COLLECTION AGENCY

• A debt buyer that does not collect on its own debts has been ruled not to have violated the Fair Debt Collection Practices Act by transferring a conversation regarding a dispute of the debt to the collection agency that was working the account.

WORTH NOTING: Economists are trying to decide whether higher minimum wages are good or bad for employers … The nine things your company should spend money on this year … A “Netflix for cars” program allows you to drive a Cadillac whenever you want for $1,500 per month … Nine free apps to make your life easier … The Senate took the first concrete steps toward repealing Obamacare yesterday … The San Diego Chargers are moving to Los Angeles, according to ESPN … The hot new vehicles unveiled at the North American International Auto Show in Detroit … Would you pay Johnny Manziel for a selfie with the disgraced quarterback? … How much New York City has spent protecting President-elect Donald Trump … Taco Bell is rolling out a taco shell made entirely out of fried chicken.

A trailer for “CHiPS” coming this Spring

A yacht that has a master cabin 125 feet in the air

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.