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.
JUDGE GRANTS MOTION TO DISMISS DUPLICATIVE FDCPA LAWSUIT
- A District Court judge in South Carolina has dismissed a class-action lawsuit against Midland Credit Management and Midland Funding, accusing them of sending collection letters that violated the Fair Debt Collection Practices Act, because there is already a lawsuit against one of the defendants making the exact same accusations.
NEW YORK CITY ACCUSES FOR-PROFIT COLLEGE OF VIOLATING LOCAL COLLECTION LAW
- The City of New York has filed a lawsuit against Berkeley College, alleging the for-profit college engaged in a number of deceptive and predatory practices, including violating city debt collection laws by not properly identifying itself when collecting on unpaid student loans.
BCFP ARGUES FOR REINSTATEMENT OF $230 MILLION FINE AGAINST PAYDAY LENDER
- The Bureau of Consumer Financial Protection urged the Ninth Circuit Court of Appeals to reinstate a $200 million penalty against a payday lender, arguing that a lower court judge made a mistake when determining that the lender did not have to pay restitution to those who were scammed.
REPORT SPOTLIGHTS COMPLAINTS AGAINST FAST-GROWING INSTITUTIONS NOT REGULATED BY BCFP
- A published report has spotlighted how a pair of fast-growing financial services institutions, including one with ties to one of the debt-buying industry’s largest players, are not being regulated by the Bureau of Consumer Financial Protection, even though the companies have been the subject of thousands of consumer complaints. The analysis was conducted by NerdWallet, a consumer finance website.
FICO TO UNVEIL NEW CREDIT SCORE, GIVING MORE CASH-HEAVY INDIVIDUALS ACCESS TO CREDIT
- Fair Isaac Corp. is planning on rolling out a new version of its FICO credit score with the objective of increasing the number of individuals who are approved for credit cards, personal loans, and other types of debt, according to a published report.
WORTH NOTING: How exercising with friends can help beat depression … Health and wellness are booming, but we’re fatter than ever … About one-third of all Americans eat fast food at least once a day … Sitting around doing nothing is worse for you than smoking … Did you get engaged at Yosemite earlier this month? A photographer is looking for you … The places in your office that have the most germs … Lottery fever is consuming the country … How to know where to sit during meetings … Four questions to ask before deciding to DIY a project … Is anyone surprised that Canada nearly ran out of marijuana after legalizing it? … A domestic dispute among lions at a zoo turned tragic … The best and worst airports for flight delays.
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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.
