Daily Digest – September 13. Getting to Know Harry Ramos of SaVit Collection Agency; New Maryland Law Dramatically Expands Consumer Protections

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.

 

GETTING TO KNOW HARRY RAMOS OF SAVIT COLLECTION AGENCY

• Harry Ramos must be one of the most chill people on the planet. How else would you explain someone who lists his guilty pleasures as fly fishing, Tai Chi, and working on Bonsai trees? All of those take a certain amount of patience and dedication to detail to be good at. Perhaps that explains how Harry has spent 50 years in the collections industry. Read on to learn more about Harry and how he talked his way into his first collections gig and hasn’t looked back since.

 

NEW MARYLAND LAW DRAMATICALLY EXPANDS CONSUMER PROTECTION REGULATION

• Joining other states, like Pennsylvania and New Jersey which have launched their own state-run consumer protection units, Maryland is now gearing up to do the same, according to a published report. A newly enacted state law provides “stricter oversight” of the financial services industry by making sweeping changes to laws and regulations.

 

BCFP UPDATES FCRA DISCLOSURES

• The Bureau of Consumer Financial Protection yesterday issued an interim rule that updates a pair of model disclosures related to the Fair Credit Reporting Act. The enactment of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, requires credit reporting agencies to offer free credit freezes to consumers.

 

MULVANEY WORRIED STUDENTS DON’T FULLY UNDERSTAND CONSEQUENCES OF HAVING TO REPAY LOANS

• It appears as though Mick Mulvaney, the acting director of the Bureau of Consumer Financial Protection, is a big believer in the Ferber method. Mulvaney went on CNBC yesterday to talk about the growth in the amount of student loan debt in the United States, and expressed concern that students don’t fully understand the financial obligation that is associated with taking out a student loan.

 

CONSUMER ADVOCATE BLASTS DATA BREACH NOTIFICATION BILL

• Consumer advocates at the state and federal level are joining together to lobby against a bill that would establish a national data breach notification law. The bill, introduced last week by Rep. Blaine Luetkemeyer [R-Mo.], is being marked up today by the House Financial Services Committee.

 

PCI GROUP’S 911 MEMORIAL REMEMBRANCE

• On September 11, 2018 the employees of PCI Group gathered at 8:46 AM outside the company’s headquarters to honor the brave men and women who lost their lives on September, 11, 2001. This year marks the 17th consecutive year that PCI has gathered to honor the 2977 civilians, firefighters and rescue workers that were lost during the attack.

 

ENHANCED RESOURCE CENTERS APPOINTS JASON DAVIS TO CHIEF COMPLIANCE OFFICER

• Enhanced Resource Centers (ERC), an international business process outsourcing (BPO) and a full service, end-to-end provider for every aspect of the customer life cycle, announced today the promotion of Jason Davis to the role of Chief Compliance Officer.

 

WORTH NOTING: This sounds scary: the time to prepare for Hurricane Florence is over … If you’re going to murder your husband, don’t write an essay titled, “How to Murder Your Husband” … All the new gadgets Apple announced yesterday … The college majors that offer the best value … People like you more than you think they do … The middle class income rose to its highest level last year … The CEO of JPMorgan Chase said he could beat President Trump in an election and then quickly backtracked … Why playing the lottery may not be worth it … A working mom writes about the toughest choice she had to make … A serial dine-and-dasher is facing 13 years in prison … The best travel headphones.

Amazon will sell full-size love Christmas trees this year

Why we say “OK”

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.