Daily Digest – March 2. CFPB Vows to Take Action on Credit Reporting & Medical Debts; Judge Grants MTD Over $0.01

CFPB PUBLISHES REPORT ON CREDIT REPORTING & MEDICAL DEBTS, VOWS TO TAKE ACTION

  • I have no proof of this, but my gut tells me that Rohit Chopra is a pretty good chess player. All the proof I need are the press releases that the Consumer Financial Protection Bureau has been issuing over the past couple of months. To me, those releases are the CFPB putting all of its pieces into position before it starts taking action against companies in the form of enforcement actions. In the past two months, the CFPB has issued warnings and bulletins about “junk” convenience fees, illegal auto repossessions, student loan servicing, and credit reporting. Yesterday, it issued another report, this time on credit reporting of medical debts, asking the question whether medical debts should be allowed to be included on consumers’ credit reports. Anyone collecting and or reporting medical debts should be prepping their defenses, lest they get caught offguard if and when the CFPB takes action.

JUDGE GRANTS MTD IN FDCPA CASE OVER $0.01 DISCREPANCY

  • A penny saved is a penny earned, the saying goes. But when it comes to the Fair Debt Collection Practices Act, especially on a debt in excess of $3,000, not suing a debt collector over a penny is the best way to save your money, according to a District Court judge in New York who has granted a defendant’s motion to dismiss because the balance due and charge-off balance in a collection letter were different by $0.01.

CONSUMERS WANT REMINDERS TO HELP THEM AVOID LATE PAYMENTS: SURVEY

  • More than half of consumers participating in a survey conducted by PayNearMe have paid at least one bill after its due date in the past 12 months, and one-fifth of respondents have done it more than four times. Interestingly enough, breaking it down by age, younger consumers and older consumers have made fewer late payments than those between the ages of 30 and 60 years old.

34 COMPANIES SEEKING COLLECTION TALENT

  • During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant to be a service to aggregate industry job opportunities into one convenient location. If you are hiring, I encourage you to post your listing on the AccountsRecovery.net jobs board.

WORTH NOTING: One of the questions my 11-year-old daughter had as we watched the State of the Union last night was what was the thing sitting in front of Nancy Pelosi. Turns out, it’s a pretty cool artifact … You might want to start stocking up on wheat and corn … How to train your brain to be more spontaneous … Five things you might not realize are tax deductibleTakeaways from last night’s State of the Union address … The housing markets where prices are most likely to fall … Major League Baseball has canceled opening day. How many more days will be canceled before an agreement is reached? … How to say goodbye to colleagues via email.

What you might not know about the suburbs

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Daily Digest – November 21. Just Grants MTD in Case Over Fees, Charges in Letter; Judge Rebuffs CFPB Funding Argument in Denying MTD

JUDGE GRANTS MTD IN FDCPA CASE OVER FEES, CHARGES LINE ITEM IN LETTER Ahh, remember …

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