Daily Digest - January 14, 2025

🎉 🎂 Happy Birthday wishes to: Indever Lal with Cherry and Stacey Schachter of Vion Investments, . 🥳🎈

STILL TIME TO REGISTER!

As you start looking to spend your 2025 technology budget, 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!

Collector Facing FDCPA Class Action for Not Including Validation Info in Non-MVN Initial Notice

• One of the last Fair Debt Collection Practices Act lawsuits filed in 2024 was a class-action, accusing the defendant of not including information about when the validation period would end in a communication with the plaintiff. The communication was allegedly an initial communication, but was not the Model Validation Notice, although it did include some components of the MVN, such as the itemization table.

• More details here.

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Judge Grants MTD in FDCPA Case Over Email-Only Communication Demand

• A District Court judge in Illinois has granted a defendant’s motion to dismiss after it was sued for sending a letter to an individual who had indicated that email was the only convenient channel of communication. The ruling, issued by Judge Georgia N. Alexakis of the District Court for the Northern District of Illinois, was based on the fact that the plaintiff lacked standing to sue because she did not suffer a concrete injury.

• More details here.

CFPB Proposes Rule to Protect Consumers from Unfair Contract Clauses

• The Consumer Financial Protection Bureau yesterday announced a proposed rule aimed at curbing the use of unfair clauses in consumer financial contracts that undermine fundamental rights. The new rule seeks to protect consumers from being forced to waive legal rights, suppress free speech, or endure unilateral changes to contract terms by financial companies.

• More details here.

ABA Sends Letter to President-Elect Trump Calling for Immediate Regulatory Pause

• As President-Elect Donald Trump prepares to take office for a second term, the American Bankers Association, along with 52 state banking affiliates, sent the president-elect a letter, urging a complete halt to all ongoing regulatory actions impacting the financial sector. The ABA is asking the incoming administration to pause regulatory work across all financial agencies, including independent bodies, and extend the effective dates of final regulations until new teams have had a chance to review and evaluate these rules.

• More details here.

WORTH NOTING: Dementia is on the rise. Here are some ways to reduce your risk ... What you can do if you want to erase a bad memory ... Small businesses are very optimistic about the future of the economy ... Why you may want to remember more about your failures when getting ready for your next job interview ... Ranking the NFL coaching vacancies by desirability ... If you look around, enshittification is everywhere ... Exercises that also improve your mental health ... You have to go to New Zealand if you are looking for the ugliest lawn in the world.

Trailer Tuesday, part I

Trailer Tuesday, Part II

The Daily Digest is sponsored by TCN’s C3 User Conference