Daily Digest - June 19, 2025

Brought to you by: TCN | By Mike Gibb

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Mike Gibb
June 19, 2025

📝 EDITOR’S NOTE: Scroll down to the bottom for a recap and highlights from yesterday’s webinar.

🎂🎉 Happy Birthday to: Miranda Millions of Northside Hospital, Mark Josephson of DCM Services, Ankit Agarwal of Trusting Social, and Joe Partain of JSP Consulting.

🥳 Congratulations to: Derek Scheskie, who was hired as an Operations Consultant at Capio Partners.

New Training Bytes Video Released!

Check out the newest Training Bytes video! Each week, an expert from the accounts receivable management industry will share how he or she would handle different scenarios that collectors often face. This week, Debra Ciskey from ARM Compliance Business Solutions discusses what to do when a consumer says something like, "I am refusing to pay this debt". Thanks to Peak Revenue Learning for sponsoring this series! Click on the image below to view this week’s episode!

📆 Monthly Meetings

I am excited to announced that I am bringing back two monthly meetings — Small Agency TechTactics, and the ARMTech Innovation Lab — while also announcing two more regular meetings — Women in Collections and Compliance Chat. Click on the links below to register for each meeting.

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!

Getting to Know Dave Avellis of Rogues12 Consulting

  • Maybe being in the credit and collection industry for more than four decades has jaded Dave Avellis a little bit, but that hasn’t stopped him from establishing himself as a leader and mentor. In fact, maybe it’s helped shape his advice and guidance and made him a better leader. It’s ok to take, but never take more than you give … advice he lives by to this day. Read on to learn more about Dave, his love of classic rock, and how he finds peace among the chaos.

  • More details here.

  • This series is sponsored by TEC Services Group

A MESSAGE FROM TCN

TODAY‘S WEBINAR

UPCOMING WEBINARS

New York Legislature Passes Consumer Protection Bill to Prohibit ‘Unfair’ and ‘Abusive’ Practices

  • The New York State Legislature has passed the FAIR Business Practices Act, marking the first major update to the state’s consumer protection law (General Business Law 349) in 45 years. The bill was sponsored by Senator Leroy Comrie and Assemblymember Micah Lasher and championed by Attorney General Letitia James.

  • More details here.

Judge Remands Credit Reporting Case Back to State Court

  • The Fair Credit Reporting Act preempts some state law claims, but a Magistrate Judge in Tennessee has granted a plaintiff’s motion to remand a case alleging violations of the Tennessee Consumer Protection Act over reporting false and inaccurate information to a credit reporting agency back to state court where it was originally filed. The judge did deny a motion from the plaintiff for attorney’s fees and costs related to the defendant removing the case to federal court.

  • More details here.

Consumer Outlook Grows More Uncertain; But Younger Generations Stay Optimistic

  • A growing number of consumers are feeling pessimistic about their financial futures, even as a majority remain optimistic overall. According to TransUnion’s Q2 2025 Consumer Pulse study, 27% of consumers said they were pessimistic about their household finances over the next 12 months, which represents the highest figure recorded since tracking began in 2021. That’s up from 21% just six months ago. Yet, optimism is holding steady at 55%, matching last year’s levels. Gen Z (67%) and Millennials (64%) continue to lead the way in financial confidence.

  • More details here.

Optio Solutions Adds Two Sales VPs

  • Optio Solutions is pleased to announce the addition of Michael Krupinski and Ian Ferguson as Vice Presidents of Sales, further strengthening our executive team as we continue to grow our national presence in accounts receivable management.

  • More details here.

WORTH NOTING: Employee productivity peaks on Monday at 11am and is at its lowest on Friday afternoons, according to new research ... How Juneteenth helped shape American cuisine ... You may be able to blame your DNA for not losing weight, according to a new study ... A breakfast bill for a family of five at Disneyland is going viral for its outrageousness ... For the first time ever, streaming has surpassed broadcast and cable viewing ... Use of AI by white collar workers continues to explode ... You may believe that you would disobey an order that goes against your morals, but you would most likely be wrong ... Tiny behaviors that will make you the calmest person in the room.

Top 10 Thursday, part I

Top 10 Thursday, Part II

Webinar Recap: Handling CFPB Complaints

A panel of industry veterans broke down how companies can better manage complaints submitted through the Consumer Financial Protection Bureau’s complaint portal. Panelists Mark Cavin, Jesse Silverman, and Katie Jimenez shared insider perspectives — ranging from former CFPB staff to current legal and compliance leadership — on how the database is used, how complaints influence regulatory action, and what companies should be doing now to stay ahead of enforcement risk.

Why it matters: The CFPB’s complaint database is not just a public feedback mechanism. It’s a key signal for regulatory enforcement, state attorney general action, and future rulemaking. With nearly 1.3 million complaints filed already in 2025, companies cannot afford to take a reactive approach. Despite current uncertainty around the CFPB's long-term structure, panelists urged organizations to maintain vigilance and avoid letting their guard down.

Key insights:

  • Complaint data = regulatory fuel: Jesse Silverman emphasized that unanswered or mishandled complaints are “the number one trigger” for investigations and enforcement. Companies should treat each complaint as a “free consulting memo” and use it as a roadmap for operational improvement.

  • Not all complaints are equal: Katie Jimenez explained that certain types of complaints (e.g., identity theft vs. validation requests) should be assessed differently, and that failing to treat all intake channels equally — including BBB, social media, and internal call centers — can lead to major compliance gaps.

  • Use the data proactively: Mark Cavin shared how complaint metrics (like average days to respond or complaint volume per 1,000 accounts) can be used in dashboards and board reports to monitor and mitigate risk. Complaints can and should inform training, vendor oversight, and product design.

Action items:

  1. Ensure your complaint response process covers all channels — not just CFPB submissions.

  2. Regularly review complaint trends (both internal and CFPB data) to identify and address root causes.

  3. Train your agents and compliance teams to handle complaints with consistency, clarity, and care — every time.

Did you know that premium subscribers get full access to transcripts, summaries, more highlights, and full recordings of every webinar? That’s thousands of hours of content, available for just $29/month for an individual subscription or $99/month for a company subscription. Click here to subscribe as an individual or email me to sign up your company.

The Daily Digest is sponsored by TCN