Daily Digest - April 22, 2025

🎂🎉 Happy Birthday wishes to: Amy Canaday of Credit Service Company. Happy belated Birthday to John Tonetti. 🎁🥳

Congratulations to Jared Blake, the new Collections Manager at FinFit and Dixie Newsome, who was promoted to Director of Data Governance at Crown Asset Management.

Logo Madness!

It’s time to start voting! Click on the logo you think is better to cast your vote. You can see the entire bracket here. Thanks to Drop Cowboy for sponsoring this year’s contest!

Collector Facing FDCPA Class Action for Allegedly Parking Debt

• Debt parking is not a common claim made in lawsuits against collection operations these days. It’s so rare that I feel like I need to explain it because there are likely people in the industry who have never heard the term. A collection operation is facing a class-action lawsuit in Pennsylvania state court for allegedly violating Regulation F and the Fair Debt Collection Practices Act by reporting information about a consumer’s debt to the credit reporting agencies without first providing notification to the consumer about the debt.Making this complaint slightly less interesting is the absolute dearth of details about what happened.

• More details here.

• This series is sponsored by WebRecon

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Ed. Dept. to Restart Collections on Defaulted Student Loans

• The Department of Education announced yesterday that it will resume collections on federal student loans beginning on May 5, ending a five-year hiatus prompted by the COVID-19 pandemic. This move will affect approximately 5 million borrowers currently in default, with the department planning to begin wage garnishments and other collection measures in the coming months.

• More details here.

Debt Negotiation Firm Faces Sanctions in Connecticut for Violating State Laws

• A debt negotiation operation, along with its president and affiliated entities, has been sanctioned by the Connecticut Department of Banking, which will see the operation repay consumers nearly $800,000 while also being barred from operating in the state. The action arises from a Consent Order involving Accelerated Debt Settlement Inc. (ADS), Financial Solutions Group LLC (FSG), and their president, Jeffrey A. Lakes.

• More details here.

Arbitration Motion Granted in FDCPA Case Involving Major Restaurant Chain

• The world’s largest full-service restaurant company, which operates chains like The Olive Garden and LongHorn Steakhouse, has had its motion to compel arbitration in a Fair Debt Collection Practices Act suit granted by a federal judge in Washington state.

• More details here.

WORTH NOTING: If you were to ask a bunch of people if they feel good about their finances right now, not many would say yes ... The best self-care gifts you should buy for yourself ... There are that many of you who watch videos with subtitles on? I'm stunned ... More people across the country are turning to solar power ... A lot of people are planning on staying put this summer as a way to spend less money ... How to clear your mind if you want to spend time thinking about the big picture ... Being nice to ChatGPT means OpenAI has to spend millions more than if you skip saying "please" and "thank you" ... What the college graduates of 2025 are looking for in their new careers.

Trailer Tuesday, part I

Trailer Tuesday, Part II

The Daily Digest is sponsored by TCN