Daily Digest – March 18. New Payment Channels Bringing in More Money for Agency; Bill Banning Arbitration Clauses Passes in House

NEW DIGITAL PAYMENT CHANNELS BRINGING IN MORE MONEY, AGENCY SHARES DURING PRESENTATION

  • LAS VEGAS — While it might not represent a significant chunk of all the money it has collected in the past 11 months, Willams and Fudge have collected $700,000 via PayPal and Venmo — digital channels that many companies in the accounts receivable management industry have not yet embraced, a pair of executives from the collector said during a presentation yesterday at ACA International’s Ignite Conference.

BILL BANNING ARBITRATION CLAUSES PASSES IN HOUSE

MORE THAN HALF OF CANCER PATIENTS END UP WITH MEDICAL DEBTS

  • More than half of individuals who are diagnosed with cancer end up in some form of medical debt, and 53% of those individuals have a debt that ends up in collection, according to data that was released yesterday by the American Cancer Society. Three-quarters of those who are diagnosed said that they were unprepared for the financial toll that having the disease would place on the and their families.

CFPB UPDATES SUPERVISORY GUIDANCE RELATED TO DISCRIMINATION

  • The Consumer Financial Protection Bureau yesterday issued a warning toward companies in the financial service industry, including those in the debt collections market, to make sure they are not engaging in any activities that could be found to be discriminatory, including in areas where fair lending laws may not apply. Instead, the CFPB said it would use its powers under the Consumer Financial Protection Act’s Unfair, Deceptive, and Abusive Acts or Practices (UDAAP), to protect consumers.

WORTH NOTING: Have you ever had one of those debates about who would win in a fight? Who do you have in this battle? … People were left on a JetBlue plane overnight because the airline didn’t have any employees who could help them get off the plane … USAA is facing a hefty fine for not having proper money laundering controls in place … How your life could change if Daylight Savings Time is enacted forever … The best credit cards for saving on gas … What a $26 million house in Beverly Hills looks like … The best camera gear for your smartphone … The types of vacations that might be hard to book this year.

Borrowing is getting more expensive

Funny Friday

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Check Also

Daily Digest – December 2. Collector Accused of Violating Reg F Over Debt Parking; Data Breach at Wash. Collection Agency Impacts 3M Consumers

COLLECTOR ACCUSED OF VIOLATING REG F, FDCPA BY FURNISHING INFO ABOUT PLAINTIFF’S FATHER ON PLAINTIFF’S …

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