Daily Digest – April 24. Bill Would Shift Burden of Dis-Proof Onto Consumers; Consumer Advocates Weigh in on Financial Choice 2.0 Bill

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MISSOURI LEGISLATOR FILES BILL THAT WOULD SHIFT BURDEN OF DIS-PROOF ONTO CONSUMERS 

• An interesting profile of Missouri state legislator Bruce DeGroot, who used to represent consumers in cases filed against them by collectors, but switched sides five years ago to represent the collectors and then was subsequently voted into the state legislature. DeGroot has sponsored a bill that, if passed, would require consumers to prove that the documents used by collectors and debt buyers to file lawsuits are inaccurate, instead of requiring the plaintiffs to attest that the documents are accurate. Making this even more interesting is that DeGroot’s name is listed as the lawyer of record representing a debt collector in a lawsuit. Definitely worth the read to get the full details.

CONSUMER ADVOCATES WEIGH IN ON FINANCIAL CHOUSE 2.0 BILL

• As the House Financial Services Committee prepares to hold a hearing this week on the Financial Choice 2.0 Act, which would dramatically alter the Consumer Financial Protection Bureau, a number of consumer advocates weigh in on the bill, especially the impact on payday lending across the country.

COLLECTION AGENCY WOOS CITY

• The city of Bucyrus, Ohio, is being wooed by a collection agency, Capital Recovery Systems. The city, apparently, had no idea that placing accounts with a collection agency doesn’t cost the city any money. In fact, the 33% surcharge that is placed on top of the debts as the collection fee is less than what it would cost if the case ends up in court, the city’s attorney rationalized. How many other cities are potential clients for collection agencies?

AGENCY’S JOBS PROGRAM GETS PROFILED

• Another profile of Choice Recovery and its Restart program, which helps out-of-work individuals find jobs, to help them pay their unpaid debts. This time, Choice landed a job for a man with unpaid medical debts at Amazon.

WORTH NOTING:Is the drive to “win at life,” causing the CEO of Uber to take unnecessary risks with his company? … How the most productive CEOs handle email … Seven habits of successful people … Why it’s good to think you’re bad at your job … The benefits of a six-hour workday … How much your financial ignorance could end up costing you … A dryer that dries clothes in half the time, without using any heat … More retail stores are closing than ever before … But at least Panera is hiring … Hash browns are being recalled because they may have pieces of golf balls in them.

A report card on President Trump’s first 100 days in office

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The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.