Daily Digest – May 26. Bipartisan Senate Bill Introduced to Protect Stimulus Funds; Credit Repair Org. Sued

BIPARTISAN SENATE BILL INTRODUCED TO PROTECT STIMULUS FUNDS FROM GARNISHMENT

  • A bipartisan bill was introduced on Friday in the Senate that would, once and for all, prohibit any stimulus funds received by individuals from being garnished by private debt collectors.

CFPB, MASS. AG SUE CREDIT REPAIR ORGANIZATION

  • The Consumer Financial Protection Bureau and the Attorney General of Massachusetts on Friday announced a joint enforcement action against a credit repair organization for collecting $23 million in fees by deceptively misrepresenting its effectiveness at improving the credit scores for individuals who signed up for its services.

STUDENT LOAN DEBT RELIEF COMPANIES BANNED FROM INDUSTRY AS PART OF SETTLEMENT WITH N.Y. AG

  • A trio of companies and two individuals have been permanently banned from offering debt relief services nationwide and will repay $250,000 out of a $5.5 million judgment to settle claims brought by the Attorney General of New York that they perpetrated a student loan debt relief scam that cheated thousands of New York student loan borrowers out of millions of dollars.

PANDEMIC NOT KEEPING PLAINTIFFS FROM FILING LAWSUITS: WEBRECON

  • Even a global pandemic can’t keep individuals from filing lawsuits against collection agencies. While a record number of co-plaintiffs in a Telephone Consumer Protection Act case skewed the numbers to a degree, the number of lawsuits tracked by WebRecon in April — a month in which most of the country was at home sheltering in place — stayed pretty much the same as usual.

COMPLIANCE DIGEST – EXPERT ANALYSIS ON RECENT CASES

  • Click here to read this week’s Compliance Digest. You’ll get insights and opinions from 10 different compliance experts — Joann Needleman, Rick Perr, Aylix Jensen, David Schultz, Laurie Nelson, Mitch Williamson, June Coleman, Dennis Barton, Helen Mac Murray, and Virginia Bell Flynn — discussing the impact of recent court cases and legislative updates. You’re not going to get that kind of varied perspective anywhere else. The Compliance Digest is sponsored by The Bedard Law Group.

WORTH NOTING: One place where the pandemic may be felt the most — schools … Is it better to wear gloves or keep washing your hands to protect yourself? … The first astronaut launch in Florida in nine years is in jeopardy because of Mother Nature. How to watch the launch tomorrow … Answering that age-old question — should you refrigerate tomatoes? … The top ways to close a deal … How to ace the virtual job interview … What are employees most afraid about as it relates to returning to the office? Their co-workers … Americans are using their stimulus money to pay bills, according to a new survey.

Healthy dinner hacks

The cost of having coronavirus-like symptoms

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