CFPB PUBLISHES RULEMAKING AGENDA; DECISION ON DEBT COLLECTION RULE DELAY EXPECTED THIS MONTH
- The Consumer Financial Protection Bureau has apparently dropped a plan that was initiated under its former leadership to create a rule that defines “abusive” conduct under the unfair, deceptive, and abusive acts or practices, known as UDAAP, according to its Spring 2021 rulemaking agenda, which was published on Friday. Also put on the chopping block was a proposed plan to require additional disclosures provided to individuals taking out payday loans. Related to debt collection, the Bureau said it is still considering a final rule that would delay the effective date of Regulation F, its debt collection rule, for 60 days, and plans to issue a final decision this month.
APPEALS COURT AFFIRMS DISMISSAL OF FDCPA SUIT OVER DEFINITION OF DEBT, CONSUMER
- The Court of Appeals for the Eleventh Circuit has affirmed a lower court’s dismissal of a Fair Debt Collection Practices Act suit over whether an underlying debt was a consumer debt as defined by the FDCPA because the plaintiff and his wife used a fictitious name under state law in Florida when making the purchase.
REPORT DELVES INTO BUFFALO’S ORIGINS AS EPICENTER OF ILLEGAL COLLECTION OPERATIONS
- A published media report aims to answer a question that many in the accounts receivable management industry have long asked — Why is Buffalo the epicenter for illegal debt collection activity? According to the report, cheap office space, no licensing requirements, and huge profits reaped by legitimate debt collectors dating back to the 1970s are why so many illegal operations are running in Erie and Niagara counties. Authorities have fined, seized, or obtained more than $120 million in judgments and prosecuted more than three dozen cases against illegal debt collectors in the past decade alone in that area, according to the report.
TCN LAUNCHES ONLINE BUSINESS GUIDE UNDERSTANDING STIR/SHAKEN
- TCN, Inc., a global provider of a comprehensive cloud-based call center platform for enterprises, contact centers, BPOs and collection agencies, today announced the launch of “Understanding STIR/SHAKEN,” an online guide that breaks down the most important rules and issues related to the new Secure Telephone Identity Revisited/Signature-based Handling of Asserted Information Using toKEN (STIR/SHAKEN) framework, which takes effect on June 30, 2021
READ EXPERT PERSPECTIVES ON TRENDING COMPLIANCE TOPICS
- Click here to read this week’s Compliance Digest. You’ll get insights and opinions from eight different compliance experts — Leslie Bender, Michael Klutho, Caren Enloe, Mitch Williamson, Aylix Jensen, Cooper Walker, June Coleman, and John Redding — 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: A Pekingese named Wasabi was the top dog last night … Of course coming to see me is more than enough reason to visit New Jersey, but roller coaster fans now have another reason … The number of people quitting jobs for new employment is at its highest point in 20 years … The COVID-19 pandemic has created a sixth stage of grief … If you were to guess the number of postal workers attacked by dogs last year, would you guess a number this high? … How inflation is affecting your standard of living … 18 perks of Amazon Prime that you might not be using … The quest to quiet the Golden Gate Bridge.
The best career path isn’t always a straight line
The Daily Digest is sponsored by TCN. Today, contact centers need to do more with less. TCN’s cloud-based predictive dialing tools and services help clients to leverage the most sophisticated inbound, outbound, and blended calling technologies available. TCN’s award-winning platform offers multiple features to assist in compliance while improving performance with no hardware, no monthly minimums, or maintenance fees. Call 866-745-1900 or visit tcn.com today.