Daily Digest – December 10. Senators Urge FCC Not to Re-Classify Text Messages; Student Loan Debt Relief CEO Arrested Trying to Flee Country

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.

 

SENATORS URGE FCC NOT TO RE-CLASSIFY TEXT MESSAGES

• A group of 10 Senate Democrats have sent a letters to Ajit Pai, the chairman of the Federal Communications Commission, urging the agency not to re-classify text messages as information services instead of an information service, a decision it is expected to consider at a meeting on Wednesday.

 

STUDENT LOAN DEBT RELIEF CEO CHARGED WITH FRAUD ARRESTED TRYING TO FLEE COUNTRY

• Well, at least he was trying to go somewhere nice. Brandon Frere, the chief executive and founder of Ameritech Financial, a student loan debt relief company, was caught and arrested at San Francisco International Airport last week as he was trying to board a flight to Cancun after he was charged with bilking $28 million from individuals.

 

THINK TANK LISTS PRIORITIES FACING KRANINGER AT BCFP: DEBT COLLECTION NOT ON LIST

• A conservative think tank does not put the proposed debt collection rule as one of the top five priorities facing Kathy Kraninger, the new director of the Bureau of Consumer Financial Protection, although one of those priorities is an area that impacts the ARM industry.

 

FTC CONSUMER PROTECTION CHIEF HAS A LOT OF POTENTIAL CONFLICTS: REPORT

• Andrew Smith, the chief of the Consumer Protection Bureau at the Federal Trade Commission, has more than 120 potential conflicts of interest including a number of companies in the ARM industry, according to a published report. The conflicts stem from Smith’s work as a lawyer in the private sector before joining the FTC earlier this year.

 

MORE YOUNGER INDIVIDUALS SKIPPING HEALTH PROCEDURES BECAUSE OF COSTS: SURVEY

• When it comes to being able to afford to pay for healthcare, younger individuals are having a significantly harder time than older individuals, according to the results of a survey that was released over the weekend.

 

MORE THOUGHT LEADERS WEIGH IN ON KRANINGER’S IMPACT

• A number of other thought-leaders and leading minds of the ARM industry have offered their insights into how the ARM industry will be impacted by the confirmation of Kathy Kraninger to lead the Bureau of Consumer Financial Protection. You can read all of their thoughts and perspectives here.

 

WORTH NOTING: The many downsides to running for President … Why you shouldn’t drink coffee first thing in the morning … A dog was waiting for his owners at the site of their house that was burned down in the California wildfires … Who is going to be the President’s next chief of staff? … How to get apps to stop tracking where you are … Is it ok to skip the office holiday party? … Should you get your boss a holiday gift? … The best noise-canceling headphones … How screen time changes the structure of kids’ brains … The most- and least-wealthiest counties in the United States.

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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.