FREE WEBINAR TODAY: New Guidance From The CFPB on Credit Reporting. Sign up now to hear from compliance experts John Bedard, Nicole Strickler, and Lexi Knight talk about important changes in how collection agencies should navigate the tricky road of credit reporting. The webinar will take place Thursday, May 25 at 1pm EDT and is sponsored by The Bedard Law Group.
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FULL APPEALS COURT HEARS ARGUMENT IN PHH V. CFPB CASE
- The full panel of nine judges who make up the U.S. Court of Appeals for the District of Columbia heard arguments yesterday about the constitutionality of the leadership structure of the Consumer Financial Protection Bureau and whether the president should be allowed to fire the director of the agency for any reason. The hearing was held at the request of the CFPB, after a three-judge panel ruled last October that the president should have the ability to fire the CFPB’s director for any reason, not just for cause. The nine judges focused almost exclusively on the constitutional questions of the CFPB and whether the president has the power to faithfully executive the laws of the land as granted to him by the Constitution.
MEMBER PROFILE: GETTING TO KNOW TIM COLLINS
- Tim Collins is one of the most respected compliance experts in the ARM industry. Frequently sought after by anyone with a compliance-related question, Collins has a way of talking about compliance that makes it seem less complicated than it really is. It’s because he knows the subject matter so well, backwards and forwards, that he can explain in layman’s terms, and for the least sophisticated of us, even use stick figure diagrams when we really don’t understand something. So when he says he’s here to help, he really means it.
PRESIDENT PROPOSES TAKING CFPB BUDGET DOWN TO $0
- In his first budget proposal as president, President Trump has proposed essentially zeroing out the budget for the Consumer Financial Protection Bureau during the next few years, taking away all of its funding. The CFPB’s budget would be cut by $145 million next year, from around $600 million currently, and would be reduced by similar amounts each subsequent year. It should be noted that the president currently has no control over the CFPB’s budget. The CFPB’s budget is handled by the Federal Reserve Board. But the symbolic significance of the move should not be overlooked.
M&A DEAL VOLUME HITS HIGHEST POINT IN FOUR YEARS
- The uncertainty surrounding the 2016 presidential election seemed to be the finger in the dyke that was plugging up merger & acquisition activity in the ARM industry and the Revenue Cycle Management (RCM) space, according to data released this week by Corporate Advisory Solutions. The $8.67 billion in deal value totaled during the first quarter was 71% higher than the same period last year.
WORTH NOTING: Robots that fold laundry are on the way … When turning away a big customer might be your best move … Google is now selling a collaborative whiteboard for $5,000 … 23 million people would lose access to health insurance under the new Republican healthcare plan … A coast-to-coast solar eclipse is coming to the U.S. for the first time in nearly 100 years … More proof that marriage is dying … Dissecting the latest “Game of Thrones” trailer … Behind the scenes of “Saturday Night Live”
Inside a $58 million mansion in Malibu
The highly anticipated trailer for “Game of Thrones”
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