Daily Digest – September 9. Getting to Know Ken Rowen; Washington AG Reaches $1.6M Settlement With Convergent

GETTING TO KNOW KEN ROWEN OF CMRE FINANCIAL SERVICES

  • The best advice that Ken Rowen has ever received applies to how everyone in the accounts receivable management industry should operate — treat everyone well, regardless of their job title or station in life. It is following sage advice like this which has helped propel Ken up the ranks of the industry and into more and more challenging roles along the way. Read on to learn more about Ken, why he thinks a career in the ARM industry can be very fulfilling, and how he earned his stripes as a fixer. This series is sponsored by Applied Innovation.

WASHINGTON AG REACHES $1.6M SETTLEMENT WITH CONVERGENT

  • The Attorney General of Washington has reached a settlement with a collector that it sued last year, which will see the collector pay $1.6 million in fines and restitution to consumers for allegedly deceiving them by making settlement offers in collection letters even though the collector could not enforce the debt in court. More importantly, the collector has agreed to stop using the words “settle” or “settlement” when attempting to collect on time-barred debts without disclosing that the statute of limitations has expired.

JUDGE GRANTS MSJ FOR DEFENDANT IN FDCPA CASE OVER VERIFICATION DOCUMENTS

  • Is there a double standard when it comes to comparing what collectors need to show when suing a consumer for an unpaid debt and what they need to show when that consumer disputes a debt? Possibly, but that is not the grounds for a Fair Debt Collection Practices Act lawsuit, according to a District Court judge in New York, who has granted a defendant’s motion for summary judgment.

CFPB SUES ONLINE LENDER FOR VIOLATING EARLIER CONSENT ORDER, ALLEGEDLY DECEIVING BORROWERS

  • The Consumer Financial Protection Bureau yesterday filed a lawsuit against LendUp Loans, accusing the company of violating a consent order from 2016 in which it paid $3.6 million in fines and restitution for misleading borrowers about the cost of its loans and the benefits of repeated borrowing. Five years later, the company is essentially still making the same promises, the CFPB accused, while also alleging that LendUp failed to provide proper notifications to borrowers whose loan applications were denied.

WORTH NOTING: Distance learning was not good for kids, many parents feel … An Olive Garden hack is going viral … A digital trick to bring calm and productivity to your work and life … How to master the art of asking the right questions … The states that are planning additional stimulus payments … More and more Americans are planning to retire earlier … How to handle working in a hybrid office environment … The NFL is back tonight. Some predictions for the upcoming season … For anyone who has ever wanted to buy a prison.

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