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CORDRAY VOWS TO STAY AT CFPB
- Richard Cordray, the director of the Consumer Financial Protection Bureau, has said he has no plans to leave his post before his term expires in 2018. Speaking to the Wall Street Journal, Cordray said the five-year term for his post was intentional so that it would bridge two administrations and ensure the independence of the position.
M&A ACTIVITY FOR COLLECTION AGENCIES EXPECTED TO INCREASE
- There will be “ample” deals available for collection agencies that have invested in compliance, according to an advisory firm that published an M&A report for the industry. The number of deals closed in 2016 was 8% higher than a year earlier, as consolidation among creditors and increased regulatory oversight led collection agencies to sell. The financial and healthcare verticals were the two with the most number of deals last year.
LAWYER PREDICTS FCC WILL BE MORE ACTIVE IN TCPA ENFORCEMENT UNDER NEW CHAIRMAN
- Not only are changes likely coming to the Telephone Consumer Protection Act, but the Federal Communications Commission will likely boost its enforcement actions against companies that violate the rules, according to one legal opinion.
PAYDAY LENDER ACCUSED OF VIOLATING D.C. DEBT COLLECTION LAW
- CashCall, a payday lender, has agreed to repay nearly $2 million back to individuals and give up the right to collect on an additional $1 million after being accused of violating the District of Columbia’s Consumer Protection Procedures Act and Debt Collection Law. The company was operating with a proper license and was charging interest rates as high as 169%.
WORTH NOTING: Ride-sharing services are the new favorite way for business travelers to get around … State attorneys general are standing up to support the Consumer Financial Protection Bureau … The Dow Jones Industrial Average topped 20,000 for the first time ever yesterday … The 10 funniest Super Bowl ads of all time … For those who didn’t watch President Trump’s first interview last night, here are the important takeaways … The gadgets that tech writers use everyday … A three-step process to making better decisions … Is email bad for the environment? … The number one reason why employees quit.
Mike Myers and Jimmy Fallon having a dance-off
Bad Lip Reading of President Donald Trump’s inauguration
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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.
