CFPB ACTING DIRECTOR WANTS TO ‘PRESERVE STATUS QUO’ ON DEBT COLLECTION RULE
- In remarks posted yesterday to the agency’s website, Dave Uejio, the acting director of the Consumer Financial Protection Bureau, offered the first sign of what may happen to the debt collection rule, hinting that the enactment of the rule may either be delayed or reconsidered in some form. The remarks were part of a memo directing the CFPB’s Division of Research, Markets, and Regulations (RMR) to take “some immediate actions” in “furtherance of our mission.”
BK REFORM BILL INTRODUCED IN SENATE TO MAKE IT EASIER TO DISCHARGE MEDICAL DEBTS, STUDENT LOANS
- A quintet of Senate Democrats have introduced a bill that aims to make it easier for consumers to have student loans and medical debts discharged when filing for bankruptcy protection.
DFPI TAKES ACTION AGAINST STUDENT LOAN DEBT RELIEF COMPANY, LAUNCHES BROADER INVESTIGATION
- The California Department of Financial Protection and Innovation has announced an investigation into student loan debt relief companies while also announcing its first enforcement action, against a company accused of taking money from individuals while misrepresenting that it could have their student loans dismissed.
HOW PATIENTS INCUR OUT-OF-POCKET EXPENSES
- Individuals who incur medical debt tend to have it happen in what researchers are calling “dramatic financial shocks” because healthcare expenses are calculated on an annual basis and do not take into consideration that out-of-pocket spending happens in short bursts throughout the year and are not generally spread out.
WORTH NOTING: Fewer children are attending school this year, whether it be in person or remotely … The best-ever Super Bowl halftime shows … One option for the 7 billion facemasks that we are using every day … How to stand out on LinkedIn … Valentine’s Day date night ideas for people who don’t want to go out … The Super Bowl commercials that have generated the most buzz … How to save money on streaming … The most overvalued home market in America is not where you think it is … A man who lost his wallet in Antarctica 53 years ago has had it returned to him.
An addition to your Super Bowl snack menu
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.
