Daily Digest – January 14. Navient to Cancel $1.8B in Student Loans; CFPB Warns Medical Debt Collectors

NAVIENT TO CANCEL $1.8B IN STUDENT LOANS UNDER DEAL WITH STATE AGS

  • A deal was announced yesterday between student loan servicer Navient and 39 state attorneys general that will see the company pay $145 million in restitution and cancel $1.7 billion in delinquent private student loans to settle claims it took advantage of individuals when servicing and collecting on their student loans.

CFPB WARNS MEDICAL DEBT COLLECTORS ABOUT NOT COMPLYING WITH NO SURPRISES ACT

  • Companies that collect medical debt were put on notice yesterday by the Consumer Financial Protection Bureau to make sure that the debts they are trying to collect are not prohibited under the recently enacted No Surprises Act. Collectors that attempt to collect debts that exceed the amount permitted under the No Surprises Act could be found in violation of the Fair Debt Collection Practices Act, while those that furnish inaccurate information about unpaid medical debts in which the amount owed exceeds the amount permitted under the No Surprises Act could be found in violation of the Fair Credit Reporting Act.

SUPREME COURT BLOCKS VACCINE MANDATE FOR LARGE EMPLOYERS

  • The Supreme Court yesterday shut down the mandate from the federal government that employers with more than 100 employees must institute a mandate for workers to either get vaccinated against COVID-19 or be tested every week saying the government overstepped its authority in having the Occupational Safety and Health Administration issue the guidance.

NACA CALLS FOR FDCPA, FCRA PENALTIES TO BE INCREASED

  • Statutory penalties under the Fair Debt Collection Practices Act and the Fair Credit Reporting Act should be tied to inflation and are being devalued because they represent monetary amounts that have not kept up with the times, according to an essay published by the National Association of Consumer Advocates.

LANDMARK STRATEGY GROUP’S MARK LESINSKI HELPS PACK HOLIDAY MEALS ON WHEELS

  • Mark Lesinski, Owner and President at Landmark Strategy Group, LLC, is a volunteer with FeedMore WNY, a nonprofit organization dedicated to feeding neighbors in need across Western New York.

WORTH NOTING: French dressing is being freed from the yoke of regulation … Olive oil can help you live longer … Read this and shake your head — the highest-earning stars on TikTok make more than top CEOs … How work conditions affect employee health and morale … The IRS is so backed up that it is sending collection notices to people whose returns have been filed, but not processed yet … A lot of companies are raising the salaries they are paying employees … What could happen to the economy if prices keep rising … A surgeon who took being proud of his work too seriously.

How to stay safe in the cold

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