Home / Daily Digest / Daily Digest – July 3. Agency Owner Gets 6 Years For Stealing From Clients; Appeals Court Ruling Could Lead to More Class Actions

Daily Digest – July 3. Agency Owner Gets 6 Years For Stealing From Clients; Appeals Court Ruling Could Lead to More Class Actions

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.

AGENCY OWNER SENTENCED TO SIX YEARS IN PRISON FOR UNDER-REPORTING COLLECTED FUNDS TO CLIENTS

  • Charles Stanley, the owner of Credit Specialty Service, a collection agency based in Acton, Calif., has been sentenced to six years in prison after being accused of stealing $4 million in from its clients. Stanley pleaded guilty to charges of conspiring to commit bank fraud and wire fraud.

I’LL SAY WHAT SHE SAID

  • It’s hard to believe this is an accident or a coincidence, but consumers are starting to file very similar comments over the Consumer Financial Protection Bureau’s proposed debt collection rule.

NINTH CIRCUIT RULING COULD LEAD TO MORE CLASS ACTIONS

  • Legal experts are expecting to see a significant increase in the number of class-action lawsuits filed in California after the Ninth Circuit Court of Appeals ruled in three cases last week that the Federal Arbitration Act does not pre-empt a California Supreme Court ruling that said a contract prohibiting a party’s right to seek public injunctive relief in any forum is unenforceable in The Golden State.

REPORT ANALYZES DNC COMPLAINT DATA TO DRAW CONCLUSIONS ABOUT ROBOCALLS

  • Companies in the credit and collection industry would be wise to note that we are getting close to the time of year when most individuals who are registered on the Do Not Call list are going to complain to the Federal Trade Commission about receiving calls, according to an analysis that looks at complaints filed in the past five years.

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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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