Daily Digest – August 8. Judge Rules Plaintiff has Standing After Suffering Stress & Anxiety; Encore Capital’s CEO Weighs in on Inflation and Recession

JUDGE RULES PLAINTIFF WHO CLAIMED TO SUFFER STRESS & ANXIETY OVER COLLECTION ATTEMPT HAS STANDING TO SUE

  • A District Court judge in Georgia has denied a defendant’s motion to dismiss on the grounds that the plaintiff lacks standing to sue, ruling that his claims of being “stressed, anxious, and worried” after receiving a letter attempting to collect a debt he did not believe he owed was enough for him to have suffered a concrete injury, especially after the plaintiff mentioned having had a previous stressful experience with another unpaid medical debt that the plaintiff incurred when he did not have medical insurance.

TRIAL TO START THIS WEEK CHALLENGING ARIZONA MEDICAL DEBT COLLECTION INITIATIVE

  • A trial is scheduled for this week in Arizona to challenge adding an item to the November ballot that would give residents of the state the opportunity to increase the amounts that consumers can shield from garnishments to pay medical debts while also lowering the judgment interest rate on medical debt. A Political Action Committee called Protect our Arizona, led by representatives from the industry, has filed suit seeking to keep the initiative from being added to the ballot.

ENCORE CEO NOT WORRIED ABOUT RECESSION’S IMPACT ON COLLECTIONS

  • There does not seem to be a lot of cause for concern about the economy heading into a recession and that leading to consumers becoming unable to make payments on their unpaid debts, according to the Chief Executive of Encore Capital Group, who shared his feelings last week during a conference call with analysts to discuss the company’s second quarter financial performance.

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. Loraine Lyons, Stefanie Jackman, Carlos Ortiz, David Schultz, Jessica Klander, and Chuck Dodge 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.

PRA GROUP LEADER LATISHA TARRANT NAMED CHIEF HUMAN RESOURCES OFFICER

WORTH NOTING: Minority households are feeling the impact of inflation more than others … Meet a cat who helped prevent a robbery … Why returning to the office is in your best interest, according to Malcolm Gladwell … A new font and more is coming to your Gmail … An argument in favor of using more emojis while at work … Arguments in favor of renting over buying … Tour a mansion that Michael Jordan has been trying to sell for a decade … The secret to being lucky.

Trevor Noah on the student debt crisis

Music Monday

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