Daily Digest – February 21. What Went Into DBA Changing Its Name; Proposed Bill Would Prevent Collections Beyond Statute of Limitations

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. 

WHAT WENT INTO DBA CHANGING ITS NAME TO RECEIVABLES MANAGEMENT ASSOCIATION

• It was if DBA International looked in the mirror and didn’t recognize itself any more. It was time for a change. So the association spent nearly two years working on a new name for the trade group, one that reflected its evolving membership base and presence in the financial services industry. DBA announced at its annual conference earlier this month that it was changing its name to the Receivables Management Association. The move coincided with the 20th annual conference hosted by the group.

PROPOSED BILL WOULD PREVENT COLLECTIONS BEYOND STATUTE OF LIMITATIONS

• A state legislator in Texas has drafted a bill that would prevent collection agencies from attempting to collect debts that are beyond the four year statute of limitations. Referring to debts beyond their statute of limitations as “zombie debts,” the legislator said that “collectors don’t tell debtors that they are no longer legally required to pay the amount owed. And they target many low income and elderly people who may not remember the debt, or perhaps don’t even owe the money but have the same name as someone who does.”

SUPREME COURT ANNOUNCES DATE TO HEAR ARGUMENTS IN FDCPA CASE

• The Supreme Court has announced that it will hear oral arguments in the case of Henson v. Santander Consumer USA, Inc. on April 18. The case centers around whether institution that purchase debts and then try to collect on them fall under the definition of “debt collector,” as defined by the Fair Debt Collection Practices Act. Both a district court ruling and an Appeals Court ruling have sided with Santander, saying it does not meet the definition of “debt collector,” as defined by the FDCPA.

SURVEY REVEALS HOW LITTLE INDIVIDUALS KNOW ABOUT HEALTHCARE INSURANCE

• Only 22% of patients have a clear understanding of how much their healthcare insurance plan will cover before receiving medical treatment, according to a survey conducted by TransUnion. The survey attempted to shed light on how healthcare providers can be more transparent with their revenue cycle management processes.

WORTH NOTING: Distracted driving is getting worse … Tomorrow’s Powerball jackpot will be more than $400 million … Traffic jams cost drivers more than $1,200 per year in lost time and wasted fuel. An interesting statistic: Los Angeles is the only American city on the list of the cities with the worst traffic … How to negotiate the salary you deserve, which probably means memorizing this list of words and phrases to avoid … President Trump has selected a new National Security Advisor … The 153 companies with the best culture in America and what you can learn from them … Ten jobs that will make you happy and rich … How to make the most out of your LinkedIn profile.

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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.