Daily Digest - March 14, 2025

🎂🎉 Happy Birthday to: Rifqa Bobo from Sequium Asset Solutions, Michelle Edelbach from Investinet, and Paul Daniels from Intelligent Contacts. 🥳🎁

NEW DATA SOURCING SURVEY

Click here to share your insights in a new data sourcing survey, sponsored by Spokeo.

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, Melony Frizzell from Revco Solutions breaks down how collectors should respond when a consumer says: Why should I pay this? What's in it for me? Thanks to Peak Revenue Learning for sponsoring this series!

Suit Accuses Collector of Misinterpreting Refusal to Pay as Dispute

• One of the toughest jobs that companies in the credit and collection industry face these days is deciphering what a consumer means when he or she sends a communication indicating that there is a potential issue with the account. Is the consumer disputing the debt? Is the consumer refusing the pay the debt? Is the consumer requesting that communications cease? Is it all or some of them together? A collection operation is facing a Fair Debt Collection Practices Act lawsuit because it reported a debt to the credit reporting agencies as disputed after a consumer submitted a letter indicating that she refused to pay the debt and requesting that communications cease.

• More details here.

• This series is sponsored by WebRecon

A MESSAGE FROM TCN

TODAY‘S WEBINAR

UPCOMING WEBINARS

NY AG Introduces Bill to Prohibit Unfair, Deceptive Acts Against Consumers

• The Attorney General of New York has introduced proposed legislation that would update state law to protect consumers from unfair and abusive acts or practices in addition to the deceptive practices that have been illegal since the original law went into effect in 1970.

• More details here.

Indiana Collection Agency Closes Down, Affecting Nearly 100 Employees

• A collection operation in Indiana that was the subject of a Consumer Financial Protection Bureau enforcement order back in 2023 has closed its doors for good, leaving nearly 100 employees looking for work. The collection agency may be associated with a debt buying operation that also recently shut its doors.

• More details here.

CFPB Moves Forward With Attempt to Order Debt Relief Company Owner to Pay $43M

• The Consumer Financial Protection Bureau filed a brief yesterday seeking to convince a federal judge why it should be entitled to $43 million in penalties from the owner of a debt relief company. The case, CFPB v. FDATR, Inc., is being heard in the Northern District of Illinois, with Judge Georgia N. Alexakis presiding.

• More details here.

Prodigal launches PIE: Intelligence Layer for Collections AI Agents

• Prodigal today announced the Prodigal Intelligence Engine (PIE), a specialized intelligence layer designed to power AI agents in collections and consumer finance.

• More details here.

WORTH NOTING: Two federal judges have ordered thousands of fired federal workers to be rehired ... A list of the world's greatest places for 2025 (I've been to none of them) ... How you use social media matters more than how long you use it ... Worried about not being able to keep up watching March Madness? Buffalo Wild Wings has a solution for that ... If Dollar General is issuing warnings about the state of consumers' finances, it might be time to worry ... What it's like for astronauts when they return to Earth ... If you say yes to these questions, your relationship is stronger than most ... How to run a mile without stopping.

Funny Friday, part I

Funny Friday, Part II

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