Daily Digest - May 14, 2025

🎂🎉 Happy Birthday to: Don Gordon of Millennium Capital and Recovery Corp., Matan Elmalam of Sedric, and Kenny Baker of Beam Software.

🙌 🥳 Congratulations to: Brian Sharp, who was hired as Vice President of Operational Innovation at CBE Companies, and David Sargent, who joined TCN as a Senior Sales Executive.

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!

California Appeals Court Vacates Rulings in Favor of Debt Buyer

• A California Appeals Court has vacated rulings in favor of a debt buyer and ordered a lower court to award summary adjudication in favor of two consumers on the grounds that they were not required to show they suffered concrete harm or needed standing to accuse the debt buyer of violating California’s Fair Debt Buying Practices Act.

• More details here.

A MESSAGE FROM TCN

TODAY‘S WEBINAR

UPCOMING WEBINARS

CFPB Proposes Scrapping Registry of Nonbank Offenders

• The Consumer Financial Protection Bureau is proposing to rescind a rule that would have created a public registry of nonbank financial companies subject to law enforcement or court orders for violating consumer protection laws. The decision, part of a broader rollback of CFPB initiatives under the Trump administration, could relieve hundreds of companies — especially in the collections and lending sectors — of a compliance obligation that critics say imposed significant costs with little proven benefit.

• More details here.

Student Loan Default Spike Leads to ‘Grave’ Consequences for Consumers: NY Fed

• The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit for Q1 2025 reveals an increase in total household debt, now surpassing $18 trillion. While other debts saw slight reductions, a significant rise in student loan delinquencies signals an emerging concern. The resumption of delinquent student loan reporting after a pandemic hiatus has led to a sharp increase in the number of borrowers facing serious payment issues.

• More details here.

23 Companies Seeking Collection Talent

• Regardless of where you live or where you are on the corporate ladder, there is likely a job that you are going to be interested in or at least something you can use for leverage the next time you ask for a raise or to work from home more, or even some ideas for your next job ad in this week's job listings summary.

• More details here.

WORTH NOTING: 40% of dog owners say their pet's health is more important than their own ... How someone with a life-threatening food allergy packs when she travels ... Egg prices have declined for the first time in months ... The one word that can break a friendship ... Sitting too much may damage your brain and cause it to shrink, according to new research ... How networking can help make you a better manager ... Google has a new update to help identify scam text messages ... How Kroger is duping consumers into paying more for groceries.

Wisdom Wednesday, part I

Wisdom Wednesday, Part II

The Daily Digest is sponsored by TCN