Daily Digest – January 8. New Guide Offers Insights into Debt Collection Rule; Mass. Legislature Passes Student Loan Servicing Bill

NEW GUIDE OFFERS INSIGHTS INTO COMPLYING WITH CFPB’S DEBT COLLECTION RULE

  • I am excited to announce the launch of a new section of AccountsRecovery.net, which aims to help the ARM industry better understand the Consumer Financial Protection Bureau’s debt collection rule and to help make the decisions and changes needed to comply with it. Called the CFPB Debt Collection Rule Resource Guide and sponsored by Arbeit, it combines both parts of the rule into one easy-to-read document while also offering insights, analysis, and perspectives from 21 different legal and compliance experts about different aspects of the rule.

MASS. LEGISLATURE PASSES BILL REQUIRING STUDENT LOAN SERVICER LICENSING

  • In the closing hours of its legislative session, the Massachusetts legislature this week passed a bill that, among other things, will require servicers of student loans to now obtain a license while also establishing a student loan ombudsman office that will be charged with identifying trends, including unfair and deceptive acts or practices.

ADMINISTRATION MEMBERS WITH TIES TO ARM INDUSTRY RESIGN IN RESPONSE TO CAPITOL RIOT

  • A pair of officials in the Trump administration with ties to the accounts receivable management industry announced their resignations yesterday in response to what happened in Washington, D.C., earlier this week.

STATE DONATES $8800 TO HOLIDAY ADOPT-A-FAMILY

CENTRAL PORTFOLIO CONTROL SUPPORTS METRO MEALS ON WHEELS

  • Central Portfolio Control (CPC), a full-service and nationally licensed collection agency located in Minnetonka, MN, is proud to make a donation to Metro Meals on Wheels this holiday season and help provide nourishing meals and human connections to seniors and individuals with disabilities throughout the communities that surround the Twin Cities of Minneapolis and Saint Paul, MN.

WORTH NOTING: The average credit score in every state … What makes curly hair curl? … The most popular dog names of 2020 … Breaking down yesterday’s big baseball deal … A breakdown on which states are offering extra unemployment benefits … The average price of a car has topped $40,000 for the first time ever … An interesting footnote regarding the riot at the Capitol – the buildings aren’t insured … What “net-worth poverty” means and how it has been impacted by the pandemic … Looking ahead to this weekend’s NFL playoff games.

Ways to keep your car from being stolen

Funny Friday

The Daily Digest is sponsored by Prodigal. Prodigal is bringing the power of AI and machine learning to lenders, creditors and collection agencies. Prodigal’s world class speech recognition software, monitors every call for compliance and collector performance with its AI trained for optimal accuracy and actionable results. Prodigal unlocks hidden value in a collection contact centre’s vast corpus of unstructured audio data by making it searchable and enabling them to improve compliance, increase operational efficiency and win new clients.

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Daily Digest – January 19. Consumer Attorney Agrees to Disbarment; What Rohit Chopra Has Said About the ARM Industry

CONSUMER ATTORNEY AGREES TO DISBARMENT FOR NOT COMMUNICATING SETTLEMENT OFFER TO CLIENT A consumer attorney …

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