Daily Digest – September 18. Senate Introduces Version of BCFP Compliance Bill; Scam Call Volume Exploding

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.

 

SENATE INTRODUCES VERSION OF BCFP COMPLIANCE BILL

• After a bill was passed out of committee in the House of Representatives last week, a companion bill has been introduced in the Senate that aims to improve the transparency and predictability of guidance issued by the Bureau of Consumer Financial Protection.

 

DEBT CONSOLIDATION COMPANY PAYING OUT HEFT BONUSES TO HELP FIND NEW EMPLOYEES

• A debt consolidation company that is attempting to hire 1,500 employees for its Buffalo office is now paying employees a referral bonus of up to $5,000 if they bring in a new co-worker, according to a published report.

 

SCAM CALL VOLUME EXPLODING, ACCORDING TO FIRST ORION

• The number of mobile scam calls has increased ninefold in the past year and will represent more than 44% of all calls by 2019, according to a report that was issued last week by First Orion, a company that makes the PrivacyStar app that blocks certain calls from being connected to individuals.

 

SCRATCH RAISES $17 MILLION TO MAKE LOAN PAYMENTS ‘LESS AWFUL’

• A tech company whose founder was just named to the Bureau of Consumer Financial Protection’s Consumer Advisory Board has raised $17 million in venture capital funding to help it “recast the loan servicing business as a friendly, easy-to-use app.”

 

JUDGE BLOCKS PLAN TO ALLOW ED. DEPT. TO CANCEL CONTRACTS WITH COLLECTION AGENCIES

• A federal judge has blocked a plan by the Department of Education to cancel contracts with private collection agencies to collect on unpaid student loan debts.

 

ACA INTERNATIONAL HIRES ISSA MOE AS VP, GENERAL COUNSEL

• ACA International CEO Mark Neeb released a statement today announcing that veteran attorney and regulatory expert Issa Moe has joined the Minneapolis-based association as its Vice President and General Counsel.

 

WORTH NOTING: The hosts of the Emmys did not get rave reviews … A Great White Shark “lair” has been discovered in the Pacific Ocean … A man caught shaving on a train asks people not to judge him … Maybe he should have used a new heated razor … Strong reviews for the new iPhones … How a company’s culture impacts its productivity … Today is National Cheeseburger Day … Coca-Cola is eyeing the cannabis market … What is the real cost of a single meal? … It’s never too early to start looking forward to Black Friday … Crazy days millennials are saving money.

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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.