Home / Daily Digest / Daily Digest – May 8. Reaction to Release of Proposed Debt Collection Rule; The ‘Silent’ Crisis Facing Americans

Daily Digest – May 8. Reaction to Release of Proposed Debt Collection Rule; The ‘Silent’ Crisis Facing Americans

The Daily Digest is sponsored by Microbilt. Designed to help debt collection professionals, MicroBilt’s platform of recovery and skip tracing tools provide quick, convenient, and current data that help you prioritize and successfully track people down and collect. Keep your skip tracing and debt recovery efficient and effective! Contact us to find out about our 90 Day Try Us Program. Call 800-884-4397 or visit www.microbilt.com.

CFPB RELEASES PROPOSED DEBT COLLECTION RULE

  • Well, it’s finally here. The Consumer Financial Protection Bureau yesterday released its proposed debt collection rule. The proposed rule is 538 pages long and covers a lot of areas that collectors were looking for guidance on. While there are a lot of articles dedicated to reaction to the proposed rule, here are some details about the rule itself.

INDUSTRY PROFESSIONALS SHARE THEIR REACTIONS TO PROPOSED COLLECTION RULE

  • The proposed debt collection rule released yesterday by the Consumer Financial Protection Bureau is 538 pages long, and getting through such a thick — and important — document will take everyone in the industry some time to fully digest. Interested in initial reactions, AccountsRecovery.net reached out to a number of industry professionals, seeking their perspective on what they have read and taken away from the proposed rule. They were given four questions and instructed to answer as many of them as they wanted. Here are their unedited responses.

HOW THE MAINSTREAM MEDIA COVERED THE RELEASE OF THE PROPOSED DEBT COLLECTION RULE

  • The release of the proposed debt collection rule by the Consumer Financial Protection Bureau is not just news for companies in the credit and collection industry; it is also news for consumers, too. To that end, many mainstream media outlets covered the release of the proposed rule. And how the public reacts to the provisions of the proposed rule could have an impact on what is included in the final rule. How the public reacts will be shaped by the coverage of the proposed rule they read and see. Here is how mainstream media outlets across the country covered yesterday’s news.

HOW CONSUMER ADVOCATES REACTED TO THE PROPOSED DEBT COLLECTION RULE

HEALTHCARE AFFORDABILITY CALLED A ‘SILENT’ CRISIS FACING AMERICANS

  • Twenty-seven percent of respondents to a survey said they or a family member have had problems paying medical bills in the past 12 months, according to a report issued by the Kaiser Family Foundation, which partnered with the Los Angeles Times.

SENATORS INTRODUCE BILL TO ABOLISH CFPB

  • If Sen. Ted Cruz [R-Texas] has his way, the Consumer Financial Protection Bureau won’t be around long enough to implement its proposed debt collection rule.

TRANSWORLD SYSTEMS ACQUIRES COLLECTIONS BUSINESS FROM CREDIT BUREAU OF LANCASTER COUNTY

PROVANA ADDS INDUSTRY VETERAN DOFFIE HOWARD TO THEIR MANAGEMENT TEAM

  • Provana, a leading provider of innovative technology solutions and business process outsourcing for the Receivables Management industry is proud to announce the addition of industry veteran Doffie Howard to their management team.

WORTH NOTING: This seems like one of those “only in Florida” storiesThe money mistakes of middle income Americans … Artificial intelligence can now predict if a woman is going to get breast cancer … Following another school shooting, here is how to talk to your kids about these tragedies … Last minute Mother’s Day gift ideas … Why you need to be a little worried about using sunscreen … Why tomato prices may soon skyrocket … Even toddlers can lose their patience with Alexa.

Smart doorbells

Crucial etiquette habits

The Daily Digest is sponsored by Microbilt. Designed to help debt collection professionals, MicroBilt’s platform of recovery and skip tracing tools provide quick, convenient, and current data that help you prioritize and successfully track people down and collect. Keep your skip tracing and debt recovery efficient and effective! Contact us to find out about our 90 Day Try Us Program. Call 800-884-4397 or visit www.microbilt.com

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