Daily Digest - November 26, 2024

A Shameless Plug for ARMTech

As you start your holiday shopping, consider buying the best present you can get yourself and sign up to attend ARMTech. I guarantee you will walk out of the event not only with great ideas, but also a ton of new contacts. There are so many innovators and disruptors who don’t show up to other industry conferences because ARMTech is the industry’s only event exclusively dedicated to talking technology — and that is where all the innovation and disruption is happening. Don’t miss out. Sign up today!

Don’t forget to check out what’s on the AccountsRecovery streaming channel. It’s a great way to catch webinars you may have missed!

Attorney Facing FDCPA Class Action for Allegedly Attempting to Collect on Judgments for Bankrupt Creditor

• A collection attorney in New York is facing a class-action lawsuit for allegedly violating the Fair Debt Collection Practices Act and state law when attempting to collect on judgments owed to a bankrupt for-profit university. The lawsuit, filed in the Southern District of New York, targets the defendant, a debt collection attorney accused of continuing to collect on judgments against former students of the Technical Career Institute (TCI) despite TCI having filed for Chapter 7 bankruptcy.

• More details here.

• This series is sponsored by WebRecon

A MESSAGE FROM TCN

TODAY’S WEBINAR

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Indiana Appeals Court Affirms Ruling in Non-Compete Case Involving RCM Provider

• The Indiana Court of Appeals has affirmed a ruling in favor of defendants that were sued by a revenue cycle management company for violating a second non-compete agreement, which came four years after one of the defendants signed her first agreement when she started working for the company. The defendant was told that if she didn’t sign the second non-compete agreement, she would be fired.

• More details here.

Financial Health Declines in 2024: More Households Struggle to Make Ends Meet

• Financial well-being is falling across many demographics, and more Americans are struggling to keep up with everyday expenses. This trend is crucial for the credit and collection industry, as it may impact consumers’ ability to repay debts. Overall financial stability declined from 2023 to 2024, according to the Consumer Financial Protection Bureau’s “Making Ends Meet 2024” report. Financial well-being, as measured by the CFPB’s scale, has fallen significantly, and the share of consumers experiencing financial difficulties has increased.

• More details here. 

New ARMSights poll, sponsored by Belvista

Most recent poll results:

India’s Meesho Cuts Customer Support Costs with AI Voice Bot

• The introduction of generative AI-powered voice bots in customer support marks a significant advancement in operational efficiency for contact centers and credit and collection operations. The technology demonstrates the potential to enhance consumer interactions, reduce costs, and streamline communication about unpaid debts. Meesho, a Softbank-backed online shopping platform in India, has launched what it claims is the first generative AI (GenAI) powered voice bot among Indian e-commerce firms, according to a report from TechCrunch.

• More details here.

WORTH NOTING: What does it say about technology when the man behind ChatGPT carries around a pen and paper with him? ... A list of the 350 best books of 2024 ... Playing "check-in chicken" is the latest travel trend ... Budget-friendly gift ideas for the holiday season that won't break the bank ... You'll never guess what happened to a Stanford professor who is an expert on lying and technology ... How to design a Black Friday game plan ... Holiday bonus season is here. What employees are expecting ... Cyber Monday vs. Black Friday - which is better for getting deals?

You get a full movie, from Heath Morgan, on Trailer Tuesday

Trailer Tuesday, Part II