Daily Digest – April 4. Appeals Court Overturns $350k Damages Award Against Collector; CFPB Fines Student Loan Servicer $1M

APPEALS COURT OVERTURNS $350K DAMAGES AWARD AGAINST COLLECTOR

CFPB FINES STUDENT LOAN SERVICER $1M FOR LYING ABOUT FORGIVENESS OPTIONS

  • The Consumer Financial Protection Bureau on Thursday announced an enforcement action against a student loan servicing company, fining it $1 million for allegedly making deceptive statements to borrowers and misrepresenting the forgiveness and repayment options related to the Public Service Loan Forgiveness program.

CELL PHONE CARRIER FACING TCPA CLASS ACTION OVER COLLECTION CALLS TO WRONG NUMBER

  • A class-action complaint has been filed in Florida against a cell phone carrier and the vendors and third parties it uses to place outbound calls, alleging violations of the Telephone Consumer Protection Act by making more than 50 debt collection calls using an automated telephone dialing service to a wrong number, after being informed that the defendant had the wrong phone number.

PRIVATE COLLECTION AGENCIES BRINGING IN LESS THAN EXPECTED FOR IRS: REPORT

  • The plan to use private collection agencies to collect on debts owed to the Internal Revenue Service has brought in less than half of the estimated funds that were projected to be collected, according to a report from the Treasury Department, while also revealing that the IRS as underreported how much it is costing to manage the program by $7 million.

EXPERTS SHARE CONTEXT ON CASES IMPACTING ARM INDUSTRY

  • Understanding the context and consequences of court rulings can be difficult. Thankfully, there are experts out there that can do it for us. David Kaminski, Virginia Bell Flynn, Brent Yarborough, Amanda Griffith, Jessica Klander, and Jonathan Hoffmann break down the ins and outs of cases impacting the ARM industry in this week’s Compliance Digest, which is brought to you by Bedard Law Group.

WORTH NOTING: Cities in which young women are earning more than young men … The real reason why you should always pick up a penny you find … The industries with the biggest payroll gains in March … The best moments from last night’s Grammy Awards … How brands create mental shortcuts for consumers … Why now is the time for you to ask for a raise … How to play chess online … When new car prices are likely to start going back down.

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Music Monday

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