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.
AGENCIES SHARE DATA ON COMPENSATION PLANS, TRACKING EMPLOYEE PERFORMANCE
- Nearly 60% of collection agencies expect the size of their staffs to grow in 2018. More than 25% of those companies expect the number of employees to increase by at least 10% this year. Such an increase in staff, coupled with an increasingly compliant-focused environment, could put a significant strain on the training, retention, and operations of collectors in 2018. AccountsRecovery.net, in conjunction with DAKCS Software Systems, conducted a survey of collection agency professionals during March and April of 2018.
WOMAN WHO WAS STEALING FROM JOB SETS UP AGENCY, KEEPS PAYMENTS
- A woman in Virginia who has pleaded guilty to stealing $300,000 from the women’s clinic at which she worked went as far as to set up her own collection agency and referred some of the unpaid bills accrued by the clinic’s patients to the agency, but then did not remit any of the payments back to the clinic.
JURY AWARDS $3 MILLION AFTER BUREAU FAILS TO INVESTIGATE DISPUTE
- An Alabama man has been awarded $3 million by a jury after finding Experian Information Solutions guilty of violating the Fair Credit Reporting Act by not investigating a debt on the man’s credit report. The man — Shaun Younger — noticed a debt that did not belong to him on his credit report and sent Experian a letter, with proof the debt was not his, according to a published report.
CITY SET TO QUADRUPLE CONTRACT WITH COLLECTION AGENCY
- The city of Cedar Rapids, Iowa, is set to quadruple the size of its contract with the collection agency it uses because it has done such a great job. The contract with Municipal Collections of America is set to be amended at a city council meeting tonight. The original contract was for $500,000 when it was signed last year, but the city council is considering raising that to $2 million when it meets.
STATE AGs LINE UP TO FIGHT BCFP FOR PUBLIC ACCESS TO COMPLAINT DATABASE
- The new attorney general of New York is picking up the consumer protection battle right where her predecessor left off, and is planning on taking on the Bureau of Consumer Financial Protection. Barbara Underwood, who took over from Eric Schneiderman last month when he resigned abruptly, said she is leading a group of 14 state attorneys general who want the BCFP to maintain public access to the agency’s consumer complaint database.
DOES THIS MEAN THEY ALL HAVE TO GET NEW BUSINESS CARDS?
- Mick Mulvaney has taken the next step in transforming the name of the agency he is temporarily running. It was noted yesterday that the sign outside the headquarters for the Bureau of Consumer Financial Protection had been changed.
WORTH NOTING: Sounds like it was a productive day in Singapore … The four questions you should ask yourself when faced with a big decision … Congratulations to Sen. Mitch McConnell … We all hope our kids will act like this pitcher did … Such a tragedy for Bode Miller and his family … IHOP’s rebranding is generating some good lines … How to stand out on LinkedIn … Not ashamed to admit I am very much looking forward to this … Ivanka and Jared apparently don’t need a government salary … The best Android phone almost anyone can afford … Small businesses are incredibly optimistic about their prospects … Uber is developing technology that can tell you if you’re drunk.
Former president Obama is (no longer) secretly meeting with 2020 contenders
The best “heist” movies
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.
