Daily Digest - June 24, 2026

🎂 Happy Birthday to: Mike Boyle of DNF Associates LLC.

New AI Event!

I am thrilled to announce a new live conference I am hosting. It’s an AI conference for the credit and collection industry. It will be held in Denver this September. Check out getbrainstorming.com for more information. And watch the video below to see me showcasing my outdoor skills.

If you are interested in being a speaker at the event, click here.

Senate Dems Press CFPB’s Vought to Explain Record Deletions

• Four Senate Democrats are demanding that Consumer Financial Protection Bureau Acting Director Russell Vought explain why the bureau scrubbed roughly 15 years of public content from its website, escalating a fight that touches directly on the records used by companies across the credit and collection industry to track their regulator.

• More details here.

A MESSAGE FROM TCN

TODAY’S WEBINAR

UPCOMING WEBINARS

No Guardrails: A Federal Report on the Cost of Deploying AI Without Oversight

• A new federal watchdog report offers a timely warning for operations racing to adopt generative AI: deploying powerful chat tools without classifying their risk or building oversight around them can create exactly the kind of exposure regulators look for.

• More details here.

Collector Settles With Conn. Regulator, Will Offer Refunds Over Interest Collection

• A collection agency has agreed to pay a $10,000 civil penalty and refund Connecticut consumers that were charged interest without authorization under a consent order with the state’s Banking Commissioner.

• More details here.

Appeals Court Affirms Arbitration in FCRA Suit Over Charged-Off Card

• The Court of Appeals for the Third Circuit has affirmed an order compelling arbitration of a consumer’s Fair Credit Reporting Act lawsuit, holding that her claim fell within the broad reach of an arbitration clause in her credit card agreement.

• More details here.

Calif. Appeals Court Rejects Consumer’s Bid to ‘Accept’ Her Way Out of Loans

• A California appeals court has affirmed the dismissal of a consumer’s lawsuit that tried to erase three loan balances through a self-created “administrative process” built on the Uniform Commercial Code.

• More details here.

Judge Denies Motion to Strike Debt Buyer’s Defenses in FDCPA Suit

• A consumer’s Fair Debt Collection Practices Act lawsuit will move forward with all seven of the defendant’s affirmative defenses intact after a District Court judge in Florida declined to strike any of them.

• More details here.

34 Companies Seeking Collection Talent

• The AccountsRecovery job listings summary has more than 30 new openings this week, spanning agencies, banks, fintechs, and collection law firms. Featured listings include an In-House Counsel role at Collection Bureau Services (Missoula), a Collections Team Leader at InvestiNet (Greenville), and a remote Regional Sales Executive at Credit Management Company, with additional openings across entry-level, management, legal, and technology roles.

• More details here

WORTH NOTING: New York City has released new compliance resources for its debt collection rule ... More Americans are warming up to the idea of buying a house ... A state-by-state look at how much it costs to give birth ... How much screen time infants have may influence how much they learn and their memory later in life ... A bunch of techies share advice on how to thrive in the hybrid AI-human office of today ... A number of kitchen gadgets that make adulting feel easier ... The deadly rise of giant trucks and SUVs across the United States ... A happiness expert shares tips on how to design the perfect summer.

Wisdom Wednesday, part I

Wisdom Wednesday, Part II

Webinar Recap: You Know Your Revenue. Do You Know Your Real Cost to Collect?

The session, sponsored by CSS Impact, tackled the critical issue of measuring the true cost to collect. While most organizations track revenue from placements and recoveries, panelists emphasized that hidden costs—such as vendor fees, manual work, compliance rework, IT complexity, and opportunity costs—often erode margins and distort profitability.

Jim Beck highlighted the importance of separating direct collection costs (letters, telephony, agent labor) from broader business support costs (IT, QA, AWS), noting: “The why to me… is fundamental. These are the key cores of running a smart business.” Shawn DeLuna stressed the overlooked impact of opportunity cost: “Every minute a collector spends on a low probability account… is a lost opportunity.” Dale Watts pointed to the “cost of complexity,” where client-specific exceptions quietly increase expenses without clear visibility.

CSS Impact demonstrated its AI-powered platform, which tracks costs at the account, client, and collector levels, helping agencies forecast profitability and avoid sunk cost fallacies. The panel agreed that aligning cost analysis with business goals is essential to ensure profitability, scalability, and smarter client investment.

🧠 Key Takeaways:

• Audit costs regularly: Conduct annual or quarterly reviews of financial statements to uncover hidden or misallocated expenses.

• Prioritize high-probability accounts: Reduce wasted collector time by leveraging scoring, segmentation, and automation to focus on accounts most likely to pay.

• Manage complexity: Identify and address client-specific requirements that disproportionately consume resources, treating them as a “tax” on the organization.

This webinar underscored that profitability in collections isn’t just about revenue—it’s about understanding the full cost equation, setting guardrails, and using technology to optimize efficiency.

Did you know you can get full access to all of my past webinars, along with transcripts and summaries of each, for only $29/month? Sign up to be a premium subscriber today!

The Daily Digest is sponsored by TCN