The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.
PERR: SOLUTIONS BY TEXT ‘DESIGNED TO MAXIMIZE’ RECOVERIES, KEEP TCPA LIABILITY TO A ‘MINIMUM’
- By coupling the “one free pass” rule allowed by the Federal Communications Commission in attempting to contact an individual via his or her mobile phone with an opt-in request to receive further text messages, Solutions By Text is “able to minimize your exposure to TCPA liability,” according to a newly released compliance alert authored by Rick Perr, a partner at the law firm of Fineman Krekstein & Harris.
SETTLEMENT ENDS SEVEN-YEAR CASE BY PA. AG’S OFFICE AGAINST DEFUNCT COLLECTION AGENCY
- The Attorney General of Pennsylvania has ended a seven-year case against a collection agency and two half-brothers who were accused of using a fake courtroom to intimidate individuals into making payments, without any of the defendants paying any fines. The case against Unicredit and Anthony Covatto, who was a vice president at the company and Michael Covatto, who was the company’s president, began back in 2010.
GAO REPORT HIGHLIGHTS PROBLEMS IN COLLECTING RESTITUTION DEBT
- The Department of Justice collected $2.95 billion out of $110 billion in restitution debt, according to a report released last week by the Government Accountability Office. Restitution debt are fines that are assessed against individuals convicted of federal crimes. The debt is intended to go back to the victim of the crime. Out of the $110 billion in uncollected debt, $100 billion of that has been deemed “uncollectible,” by the Department of Justice.
BANK TRADE GROUP SENDS LETTERS TO FCC URGING CHALLENGE MECHANISM FOR CALL BLOCKING
- The American Bankers Association has joined a chorus of other trade groups, including ACA International, in calling on the FCC to create a “challenge mechanism” that legitimate businesses could use in the event their numbers are blocked by consumers. In a letter sent to the FCC, the ABA highlighted the problems of several of the association’s members in having their calls blocked by individuals and labeled as scams.
FED LOWERS BOOM ON WELLS FARGO IN WAKE OF SCANDALS
- The Federal Reserve Board has taken the unusual and unprecedented step of telling Wells Fargo that it can not grow its business until it fixes compliance problems that led to a phony accounts scandal and forcing individuals to take out unnecessary auto insurance. Wells Fargo announced that it would replace four members of its board of directors. It currently has $1.95 trillion of assets.
WORTH NOTING: An agency within the Department of Defense can’t account for the spending of hundreds of millions of dollars … Congratulations to the Philadelphia Eagles for winning Super Bowl LII last night … Alexa losing her voice was the best commercial of the Super Bowl … If my 9-year-old knew this was a bad idea, then maybe somebody else at Dodge should have, too … An Indiana man has filed a lawsuit for getting a ticket after giving a state trooper the finger … Rising oil prices will lead to a spike in airfare prices … Six metrics every HR department should track … Four common tax return mistakes that can delay your refund … Photos from inside Apple’s $5 billion headquarters … Janet Yellen, who’s last day as chair of the Federal Reserve was Friday, will start a new job today at the Brookings Institution … The Chrome extensions people can’t live without … People dish on Valentine’s Day gifts … How some iconic TV series toyed with alternate endings.
My favorite commercial from last night
Can’t wait for the full trailer
The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.