Daily Digest – January 25. Trump Cracks Down On New Regulations; Lawsuit Numbers Remain Virtually Unchanged in 2016

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. 

TRUMP CRACKS DOWN ON AGENCIES ISSUING NEW REGULATIONS

• President Donald Trump has ordered that no federal agency issue any new regulation unless it has been approved by someone he directly appointed. So far, 62 different initiatives that were due to be published in the Office of the Federal Register have been pulled, and while none appear to have direct implications in the collections world, it would likely mean that no more rules or proposals will be coming from the Consumer Financial Protection Bureau for the foreseeable future. Federal agencies are overreacting to the regulatory freeze, pulling notices about meetings and routine renewals of forms used by the federal government.

LAWSUIT NUMBERS REMAIN NEARLY THE SAME IN 2016 THAN 2015: WEBRECON

• After all was said and done, virtually the same number of lawsuits were filed in 2016 that were filed in 2015, according to data published yesterday by WebRecon. Last year, there were a total of 19,222 lawsuits filed against collection agencies, alleging violations of the Fair Debt Collection Practices Act, Telephone Consumer Protection Act, and Fair Credit Reporting Act. That number was 92 cases less than the 19,314 filed in 2015. The number of FDCPA cases was down 12% on a year-over-year basis, but the number of TCPA cases was 32% in 2016 than a year earlier.

BILL PROPOSED IN NEBRASKA THAT WOULD REDUCE GARNISHMENT AMOUNTS

• A bill proposed in Nebraska would protect $2,000 in an individual’s bank account from garnishment in the event that a medical debt is unpaid. Currently, all of an individual’s bank account can be garnished. The bill would also provide more protections to individuals from garnishments if they have dependents at home.

PAI SENDS SIGNALS IN FIRST REMARKS SINCE BEING NAMED HEAD OF FCC

• Ajit Pai, named this week to be the next chairman of the Federal Communications Commission, sent a slight signal about his intentions in remarks he made to agency staffers yesterday. “We must work to bring the benefits of the digital age to all Americans,” Pai said in remarks that were primarily aimed at thanking his predecessors and those he will continue to be working with.

CALL CENTER EMPLOYEE STEALS $15K FROM CUSTOMERS

• A bank call center employee stole personal information from consumers and used that information to take $15,000 from nine different individuals. He is facing charges of identity theft, fraud, and grand larceny.

WORTH NOTING: A rare murder in Iceland … President Trump is moving forward with his plan to build a wall between the U.S. and Mexico … Nine things that make you unlikeable … A $400 baseball bat with a design flaw … President Trump’s pleas for carmakers to invest in the United States are coming at the worst possible time … One reason why fast food may be good for you … Need a boost of happiness? Science has an easy solution … The 10 hottest neighborhoods in America … Seven work habits you may want to kick.

Wells Fargo branch managers talk about the pressures of working for the bank

This is just wrong

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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.