Daily Digest - November 27, 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!

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, Larry Baker from RGS Financial shares the best way to teach a collector to be confident when communicating with consumers.

Thanks to Peak Revenue Learning for sponsoring this series!

Kansas Court to Decide Federal Preemption Question in CFPB Collection Case

• As you may know, there are two FDCPAs — the Fair Debt Collection Practices Act and the Federal Debt Collection Procedures Act. This case involves the second FDCPA and is related to attempts by the Consumer Financial Protection Bureau to collect on judgments from a husband and wife who are accused of hiding millions of dollars to settle fines and penalties related to a payday lending scam.

• More details here.

A MESSAGE FROM TCN

TODAY’S WEBINAR

UPCOMING WEBINARS

Minnesota Attorney General Reaches Consent Order with Lenders Over Illegal Debt Collection Practices

• Minnesota Attorney General Keith Ellison announced yesterday that his office has filed a consent order to resolve an investigation into several online lenders under LDF Holdings LLC. The investigation focused on the lenders’ practices of charging exorbitant interest rates on small loans, which violated Minnesota’s usury laws, and misleading consumers about their repayment obligations. The consent order, which is pending court approval, includes significant relief for affected borrowers, canceling over $1 million in illegal loans, some of which had been placed with a collection agency and already collected.

• More details here.

Retirees Are Tightening Their Belts as Financial Pressures Mount

• The latest Spending in Retirement study from the Employee Benefit Research Institute (EBRI) reveals a concerning trend for retirees, with many struggling to make ends meet due to rising credit card debt, insufficient savings, and inflationary pressures.

• More details here. 

New ARMSights poll, sponsored by Belvista

Most recent poll results:

21 Companies Seeking Collection Talent

• Creditors, debt buyers, collection operations, and more are looking for qualified talent as the year draws to a close. New year, new job, perhaps? Check out the job listings summary and find your next step up the career ladder. Or, do some research to help you improve the quality of your own job ads. There are a ton of reasons to check it out!

• More details here.

WORTH NOTING: For the family that wears matching PJs during the holiday season ... A guide to the holiday movies of 2024 ... The one small tweak that will make your stuffing the hit of Thanksgiving dinner ... The top 100 photos of 2024, according to Time magazine ... Dictionary.com has named its word of the year for 2024 ... Unpredictable heat waves are popping up across the world and scientists are baffled ... Three websites to help you stay on top of all the Black Friday deals ... A woman's $20 Thanksgiving dinner from Dollar Tree is going viral.

Funny Friday on a Wednesday, part I

Funny Friday on a Wednesday, Part II