Home / Daily Digest / Daily Digest – May 22. Consumers File Three Times as Many Comments on Day One of Proposed Rule Comment Period; Judge Grants MTD in Overshadowing Case

Daily Digest – May 22. Consumers File Three Times as Many Comments on Day One of Proposed Rule Comment Period; Judge Grants MTD in Overshadowing Case

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.

CONSUMERS FILE THREE TIMES AS MANY COMMENTS ON DAY ONE OF CFPB DEBT COLLECTION RULE COMMENT PERIOD

  • Consumer comments on the Day One of the 90-day comment window for the Consumer Financial Protection Bureau’s Notice of Proposed Rulemaking related to debt collection outnumbered collection industry comments by a ratio of three to one, and the consumers definitely appear to be unhappy with what has been proposed. Comments can be reviewed and submitted here.

JUDGE GRANTS MTD IN FDCPA OVERSHADOWING CASE

  • A Magistrate Judge in a District Court in Alabama has granted a defendant’s motion to dismiss after it was sued for allegedly violating the Fair Debt Collection Practices Act by sending a second collection letter during the validation period that offered a settlement and informed the plaintiff that the account may be forwarded to an attorney.

ILLINOIS LEGISLATURE PASSES BILL LOWERING POST-JUDGMENT INTEREST RATE, COLLECTION PERIOD

  • The Illinois Senate yesterday joined the state’s House of Representatives in unanimously passing a bill that decreases the post-judgment interest rate that can be charged on unpaid debts and lowers the timeframe that judgment holders have to collect.

BILL INTRODUCED IN SENATE TO AMEND FCRA, FDCPA OVER MEDICAL DEBTS

  • A bill has been introduced in the Senate that would amend both the Fair Credit Reporting Act and the Fair Debt Collection Practices Act to enhance consumer protections related to medical debt.

CFPB’S ENFORCEMENT DIRECTOR RESIGNS

  • Another senior director in the enforcement unit at the Consumer Financial Protection Bureau has resigned, according to a published report. Kristen Donoghue, who was assistant director for enforcement at the CFPB, followed Eric Blankenstein, who was the policy director for supervision, enforcement, and fair lending, out the door, although it’s likely the two departures are completely unrelated.

WORTH NOTING: A summer movie guide … Millennials are spending a lot less on engagement rings these days … The Secretary of Housing & Urban Development may need a mortgage dictionary to help him at his next hearing … “Stranger Things” is helping bring back new Coke … Compensation questions to ask before hiring new employees … Forst starting laying off 7,000 workers yesterday … The St. Louis Blues are playing for the Stanley Cup for the first time in nearly 50 years … One of the safest sunscreens you can buy is on sale … The best “Saturday Night Live” sketches of the season … The average credit score in every state.

The mainstream media advises on paying off student loan debt

How to read body language

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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