Daily Digest – March 16. Law Firm Paying $20K To Collect on $17M; GC Services Expanding W.V. Office

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LAW FIRM PAYING $20K FOR RIGHT TO COLLECT $17M IN UNPAID STATE TAXES

• A Florida-based collection law firm, Marcadis Singer, is paying $20,000 to the state of Maine for the rights to collect up to $17 million in unpaid taxes owed by non-Maine residents. The firm windowsproductskey.org will also keep one-third of whatever it collects. The state is not allowed to go after non-Maine residents for unpaid taxes, which is why it needed to use an outside firm. One of the partners at the firm has represented Maine for 18 years, which is what led the state to waive the competitive bidding process for the contract.

GC SERVICES EXPANDING WEST VIRGINIA OFFICE

• GC Services is in the process of hiring 150 customer service representatives for its Huntington, W.V. office. There are currently 400 employees working in the Huntington office.

REPORTS POINT TO HIGHER LOSSES, TOUGHER TIMES FOR AUTO LENDERS

• A pair of reports are bad news for auto lenders, calling for higher loan losses in the coming months. The chief economist of an investment bank said that subprime auto loan losses have spiked and recoveries are at their lowest point in seven years. Meanwhile, Standard & Poor’s has tested auto loan performance under a number of economic scenarios that could take place during the next few years and none of the results are positive.

REPUBLICAN VOTERS WANT TO SEE CFPB EXPANDED, NOT GUTTED

• Is President Donald Trump going against his message of being a defender of the little guy by trying to dismantle the Consumer Financial Protection Bureau? And if the president moves forward, will he do so without the support of his base? According to a survey, 59% of Republicans want to see the CFPB expanded and not curtailed.

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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.