Daily Digest - November 8, 2024

Brought to you by: TCN | By Mike Gibb

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Mike Gibb
November 08, 2024

Collection Law Firm, Debt Buyer Sued for Sending ‘Fictitious’ Hearing Notice to Plaintiff

  • A collection law firm and debt buyer have been named defendants in a lawsuit accusing them of violating the Fair Debt Collection Practices Act and state law in Nebraska because the plaintiff hired an attorney and showed up for a hearing in a collection lawsuit only to learn that the defendants had never filed the motion with the court and that the case had been dismissed.

  • More details here.

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Appeals Court Overturns Ruling for Defendant in FDCPA Case Over Medical Debt

  • The Court of Appeals for the Ninth Circuit has affirmed a ruling in favor of a credit reporting agency sued for violating the Fair Credit Reporting Act but overturned a ruling in favor of a collection operation for allegedly violating the Fair Debt Collection Practices Act on the grounds of whether the plaintiff actually owed the debt to the creditor — a hospital.

  • More details here.

CU to Pay $95M in Fines, Restitution in Overdraft Enforcement Action with CFPB

  • The Consumer Financial Protection Bureau yesterday announced an enforcement action with one of the nation’s largest credit unions for charging illegal overdraft fees that will see the institution pay $95 million in fines and restitution to members.

  • More details here. 

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Bankruptcy Filings Surge Amid Inflation and High Interest Rates

  • Personal and business bankruptcy filings in the U.S. have risen significantly, reflecting the impact of inflation, rising interest rates, and the end of COVID relief programs. This trend provides important insights for professionals in the credit and collection industry as they assess the financial health of consumers and businesses.

  • More details here.

WORTH NOTING: If you're in the market for a new cell phone, here is a list of the best ones to buy ... Residents of Yemassee, S.C., are being urged to lock their doors and windows after 43 female monkeys escaped from a research facility ... President Trump's first staff announcement is an historic one ... To anyone of a certain age, you may not know who Elwood Edwards was, but you definitely recognized his voice ... You are likely more flexible than you give yourself credit for ... How to use emotional intelligence to turn a "no" into a "yes" ... What you need to know to help you prep for Thanksgiving ... Takeaways from yesterday's rate cut by the Federal Reserve Board.

Funny Friday, Part I

Funny Friday, part II