Daily Digest – March 23. Bedard on Debt Parking; Another Dismissal for Lack of Standing

BEDARD: WHAT COLLECTORS MUST DO BEFORE REPORTING UNPAID DEBTS TO COMPLY WITH REGULATION F

• The Consumer Financial Protection Bureau has used a lot of adjectives so far to detail what debt collectors can not do when trying to recover unpaid debts owed by consumers. Those adjectives include: harassing, oppressive, abusive, false, deceptive, misleading, unfair, and unconscionable. In Section 1006.30, it seems as though the Bureau ran out of adjectives, because this section is just titled, “Other prohibited practices.” All joking aside, this section breaks new ground, especially for debt collectors that furnish information to the credit reporting agencies. In this episode of “You Wanted a Rule, You Got a Rule,” John Bedard of Bedard Law Group details how the CFPB aims to eliminate the practice known as debt parking, which occurs when a furnisher reports negative information to a credit reporting agency without notifying the consumer, in an attempt to get the consumer to contact the furnisher and repay the debt.

JUDGE DISMISSES FDCPA CASE ABOUT LETTERS TO COLLECT ON DISCHARGED DEBT FOR LACK OF STANDING

• A District Court judge has ruled that a plaintiff does not have standing to sue a collector that sent two collection letters seeking to collect on a debt that had been discharged in bankruptcy in which the letters indicated that the collector would update “credit data it may have” already submitted in exchange for payment.

BIDEN NOMINATES NEW FTC COMMISSIONER, AND HOW THAT MAY IMPACT CHOPRA’S MOVE TO CFPB

• In a move that many feel is a precursor to Rohit Chopra’s nomination to be the next director of the Consumer Financial Protection Bureau, President Joe Biden yesterday announced that he had tapped Lina Khan to be a commissioner of the Federal Trade Commission.

CFPB, FTC RELEASE ANNUAL FDCPA REPORT, BUT WHAT DOES THE FOOTNOTE MEAN?

• Both the Federal Trade Commission and the Consumer Financial Protection Bureau fulfilled their Congressional mandate in recent days by summarizing how both agencies administered and enforced the Fair Debt Collection Practices Act.

MEDUIT TAPS NORDIS TECHNOLOGIES FOR OMNICHANNEL PATIENT BILLING AND COLLECTIONS COMMUNICATIONS

• Meduit, one of the 10 largest healthcare revenue cycle management (RCM) solutions companies, has consolidated customer communications management (CCM), digital delivery and print/mail services with Nordis Technologies.

WORTH NOTING: Tips to help you organize your kitchen … How to help your kids develop good money habits … Time things you can do to lower your stress and raise your productivity … Because it’s that time of year to start thinking about outdoor cooking, here are some reviews of tools to help you clean your grills … Homes are selling across the country at record speeds … Games for your phone to help you survive social distancing … Balance limits on credit cards are dropping all over the place … How the Biden administration is using the CFPB to fight racial inequality.

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