Daily Digest - January 22, 2025

🎉 🎂 Happy Birthday wishes to: Kris Royal of BlytzPay, Chris Coleman of Finance System, and Lacey Cherrington of The Cherrington Law Firm. 🥳🎈

Assessing the Legacy of the Biden Administration on the Credit and Collection Industry

• A new era has begun in Washington, D.C., with the inauguration of President Trump, who replaced President Joe Biden. A new president and a new Congress provides a good opportunity to look back on the past four years and assess the legacy and impact of the Biden administration on the credit and collection industry. AccountsRecovery asked a number of industry professionals to share their thoughts on how the Biden administration impacted collections. Here is what they had to say…

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Consumer Sentiment Declines as Economic Outlook Dims, But More Consumers Excited to Pay Down Debt

• Consumers are turning increasingly pessimistic about the state and future of the economy and are making adjustments, like pulling back on making big purchases. One silver lining for the credit and collection industry is that it appears consumers are going to be more focused on paying down their debt levels, according to data released yesterday by WalletHub. The WalletHub Economic Index reveals a 2% drop in consumer sentiment between January 2024 and January 2025, signaling a decrease in financial confidence. This shift is indicative of a broader sense of uncertainty surrounding economic recovery.

• More details here.

Truecaller Rolls Out Major Update for iPhone, Enhancing Spam and Scam Blocking

• Truecaller, a leading global communications platform, has announced a significant update for iPhone users, bringing its full range of spam and scam blocking features to Apple’s mobile operating system. With the new update, Truecaller now offers real-time caller identification, bringing iPhone users in line with their Android counterparts for the first time.

• More details here.

22 Companies Seeking Collection Talent

• Whether you are looking for your next job or your next hire, or your next negotiation about your salary, there is always something for everyone in the weekly job listings summary.

• More details here.

WORTH NOTING: Photos from the rare winter storm that blanketed the South with snow yesterday ... Eating oatmeal may help you live longer, according to a new study ... How Spotify shapes what you listen to ... An app that blocks your access to social media until you get your steps in every day ... Companies are struggling to find talented job candidates while also being reluctant to hire new college graduates ... An Amazon find to help you host a $10 pizza party ... People are less celebratory these days and champagne sales are slumping ... Phrases that are used by kids with high levels of emotional intelligence.

Wisdom Wednesday, part I

Wisdom Wednesday, Part II

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