Daily Digest - December 13, 2024

A Shameless Plug for ARMTech

As you start your holiday shopping, consider buying the best present you can get yourself and sign up to attend ARMTech. I guarantee you will walk out of the event not only with great ideas, but also a ton of new contacts. There are so many innovators and disruptors who don’t show up to other industry conferences because ARMTech is the industry’s only event exclusively dedicated to talking technology — and that is where all the innovation and disruption is happening. Don’t miss out. Sign up today!

Don’t forget to check out what’s on the AccountsRecovery streaming channel. It’s a great way to catch webinars you may have missed!

Collector Facing FDCPA Class Action for Not Providing 30 Day Dispute Window in MVN

• If you’re going to use the Model Validation Notice and inform a consumer that he or she has 30 days in which to dispute the validity of all or part of a debt, and you’re going to put a date on the notice, then you probably better make sure that the deadline you put in that notice is at least 30 days after the day the notice is dated. A collection law firm is facing a Fair Debt Collection Practices Act class-action lawsuit because the notice told the plaintiff that it had only 10 days to dispute the validity of the debt.

• More details here.

• This series is sponsored by WebRecon

A MESSAGE FROM TCN

TODAY’S WEBINAR

UPCOMING WEBINARS

Judge Grants MTD in FCRA Case Over Not-Disputed Debt

• In order to accuse someone of violating the Fair Credit Reporting Act for reporting inaccurate information to a credit reporting agency, there is one important step that has to happen before filing the lawsuit: the consumer has to dispute the debt. A District Court judge in Louisiana has granted a defendant’s motion to dismiss an amended complaint in an FCRA case because the plaintiff failed to meet this crucial requirement.

• More details here.

French Hill Tapped as Next Chair of House Financial Services Committee

• The House Financial Services Committee, one of the most influential committees in Congress, will soon have a new leader. Rep. French Hill [R-Ark.], a former banker with a strong background in financial technology and regulatory reform, has been selected by the House Republican Steering Committee to chair the committee in the upcoming Congress.

• More details here. 

New ARMSights poll, sponsored by Belvista

CFPB Issues Final Rule Capping Overdraft Fees

• The Consumer Financial Protection Bureau yesterday issued a final rule to cap overdraft fees, which was quickly followed by a lawsuit seeking to block the rule from going into effect. The regulation, effective October 1, 2025, aims to save consumers $5 billion annually and eliminate a regulatory loophole from the 1960s that allowed overdraft services to operate outside of lending laws.

• More details here.

WORTH NOTING: A quiz to test how much you remember about 2024 ... The word list for the National Spelling Bee is drawing some criticisms ... RIP to the Amazing Kreskin ... Nearly half of all teenagers are online "constantly" according to a new research report ... The best cities in which to spend New Year's Eve ... Hard to argue with this list of the five best Quentin Tarantino movies ... What you should do if you suspect your coworker is trying to sabotage you ... Ranking all 35 college bowl games from worst to first.

Funny Friday, part I

Funny Friday, Part II