Home / Daily Digest / Daily Digest – May 14. Collection Agency Wins Motion to Dismiss Thanks To Clear Validation Notice; CFPB Updates Regulatory Agenda, Debt Collection Rule Possible in Next 12 Months

Daily Digest – May 14. Collection Agency Wins Motion to Dismiss Thanks To Clear Validation Notice; CFPB Updates Regulatory Agenda, Debt Collection Rule Possible in Next 12 Months

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.

 

COLLECTION AGENCY WINS MOTION TO DISMISS THANKS TO CLEAR VALIDATION NOTICE

  • Sometimes, when you do the right thing, you’re rewarded by a federal judge. I think I saw that on a bumper sticker somewhere. A collection agency based in Minnesota, National Recoveries Inc., was granted its motion to dismiss a case after a plaintiff filed a class action lawsuit alleging the company violated the Fair Debt Collection Practices Act by sending a validation notice that would be confusing to the least sophisticated consumer.

 

CFPB UPDATES REGULATORY AGENDA; DEBT COLLECTION RULE POSSIBLY COMING IN NEXT 12 MONTHS

  • It’s that time of year again where everyone in the ARM industry gets to try and guess what is going on with the proposed debt collection rule being worked on by the Bureau of Consumer Financial Protection by parsing the agency’s semi-annual rulemaking agenda. The CFPB published the Spring 2018 version of its itinerary last Thursday, and the proposed debt collection rule is still on the list, along with some indication of what the Bureau is planning.

 

SHERMAN FINANCIAL CEO OUT OF RUNNING TO BUY NFL’S PANTHERS: REPORT

  • Ben Navarro, the founder and chief executive of Sherman Financial Group, one of the nation’s largest debt-buying companies, appears to no longer be in the running to buy the National Football League’s Carolina Panthers, according to a published report.

 

NEW COMPANY AIMS TO KEEP COMPANIES FROM BEING SUED WHEN SENDING TEXT MESSAGES

  • Tatango, a text message software platform, has unveiled a new product that will scrub a company’s database and remove any phone numbers associated with professional plaintiffs who are likely to sue for violations of the Telephone Consumer Protection Act.

 

McWATTERS, LIKELY CANDIDATE TO RUN CFPB, CURRENTLY RUNS FEDERAL AGENCY FROM HIS HOME

  • J. Mark McWatters, the current head of the National Credit Union Administration and the presumed candidate to be the next permanent director at the CFPB, doesn’t live anywhere near Washington, D.C. McWatters runs the NCUA, which is based in Alexandria, Va., from Dallas.

 

CONSUMER DEBT KEEPS GROWING AMID SIGNS OF POTENTIAL PROBLEMS ON THE HORIZON

  • Consumers are taking on a lot more debt and the amount they owe compared to the salaries they are making continues to increase as well, according to data released last week by LendingTree. LendingTree predicts that the amount of consumer debt will top $4 trillion by the end of 2018.

 

CONSUEGRA LAW EARNS CPRC DESIGNATION

  • The Law Offices of Daniel C. Consuegra is proud to announce that it has earned Certified Professional Receivables Company (CPRC) designation from Receivables Management Association International (RMA).

WORTH NOTING: The Chipotle diet helped one man lose 20 pounds in less than six months … A man who lost both of his legs trying to climb Mount Everest 40 years ago finally achieved his dream and reached the summit today, at 69 years old … More than half of older workers are postponing retirement. Why you may want to do the same … The deadly havoc that remote car starters can cause when people park in a garage … How to build your confidence … The new U.S. embassy in Jerusalem is opening today … Why you should stop using email encryption tools right now … Interest rates on student loans are about to go up … The secret reason why you might not be a morning person … The NES Classic is coming back next month.

A Navy SEAL on why you should wake up at 4:30am every day

Why so many fast food company logos are red

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.

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