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CORDRAY SHARES INSIGHT INTO CFPB RULEMAKING PRIORITIES, PROCESS
- In prepared remarks yesterday, Richard Cordray, the director of the Consumer Financial Protection Bureau, referenced the agency’s work on its debt collection rule. The topic for Cordray’s speech, given before the Chamber of Commerce Annual Capital Markets Summit, was on the topic of how regulation affects the consumer marketplace. Cordray used the Bureau’s efforts on updating debt collection rules as a “prime example of where we seek both to clarify existing legal requirements and to adapt them to our rapidly changing world for the benefit of all stakeholders.”
FTC MAILS OUT NEARLY $3M IN REFUND CHECKS TO COLLECTION SCAM VICTIMS
- The Federal Trade Commission announced yesterday that it is mailing 5,232 checks, for an average of $525 each, to people who were victimized in a debt collection scam run by the owners of Rincon Debt Management. The owners of the collection agency, Jason R. Begley and Wayne W. Lunsford, agreed to surrender $3.3 million and were banned permanently from the collection industry back in 2014.
ARTICLE SHARES IN-DEPTH LOOK INTO CODING AND HOW THEY AFFECT HEALTHCARE COSTS
- For agencies that do any kind of healthcare collections, here is an in-depth look at how hospitals and healthcare facilities decide what to charge for their services. The intricacies of coding and billing can be like trying to read Sanskrit to normal people, but they are like a secret language for healthcare facilities and insurance companies. Coding has become such a specialty that it is actually raising the cost of healthcare.
CFPB LAWSUIT AGAINST AGENCY WORKING FOR IRS HITS MAINSTREAM MEDIA
- It’s finally reached the mainstream media that the one of the private collection agencies hired by the Internal Revenue Service is actually being sued by the Consumer Financial Protection Bureau. Pioneer Credit was one of the four agencies that won a contract with the IRS, but Pioneer, along with its parent company, Navient, were both sued for “systematically” misleading customers when trying to enroll them in a loan rehabilitation program.
WORTH NOTING: A fire caused part of I-85 in Atlanta to collapse yesterday … Researches have concluded that CEOs who golf too much underperform compared with those who do not play the sport … On National Crayon Day, Crayola announces it is retiring the color, “Dandelion” … Amazon and Walmart are in an “all-out” price war … Former National Security Advisor Michael Flynn has offered to testify in the investigation into Russia, in exchange for immunity from prosecution … More than 20% of Americans aren’t saving any of their income … Career experts make over mediocre LinkedIn profiles … Two apps that try to make email less annoying … The Crown Prince of Dubai is the king of Instagram … More people are opting for used cars as new car prices keep climbing.
Six million views in one day. Guess I’m not the only one who’s looking forward to it
Why juice cleanses don’t work
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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.
