Daily Digest - October 23, 2025

🎉Happy Birthday to: Olga Mironova of CCMR3 and Mikel Burroughs of Undue Medical Debt.

🎉Congratulations for starting new positions: Bob Wands as Executive Vice President at Collection Recovery Services, Sandeep Kumas as Senior Manager at Provana, and David Tuyo as President/CEO at Peak Credit Union.

ARMTech Early Bird Registration Expires Next Week!

Register before October 31 and save $150 on the registration fee for ARMTech.

🔔 October Meeting Schedule

🚨 TODAY Thursday, October 23 @3pm ET: Platform Pulse 🚨

Monday, October 27 @3pm ET: Compliance Chat

Tuesday, October 28 @3pm ET: Vendor Roundtable

Thursday, October 30 @3pm ET: Small Agency TechTactics

Getting to Know Jake Richards of State Collection Service

• The decisions that we make, which we don’t think are big at the time … This profile of Jake Richards was “this” close to appearing in “Porta-Potty Professional” monthly magazine instead of a collections website. Everyone at State Collection Service is happy Jake chose a career as a collector instead, and everyone in the industry is learning just how much of an asset that he is. Read on to learn more about Jake, his recommendation for a “must-watch” TV series, and how he makes sure never to lose sight of the importance of being a good communicator.

• More details here.

• This series is sponsored by TEC Services Group

A MESSAGE FROM TCN

TODAY‘S WEBINAR

UPCOMING WEBINARS

Attempt to Revisit FDCPA Standing Ruling Rejected

• A District Court judge in Kansas has denied a defendant’s motion for reconsideration of an order denying its motion for summary judgment in a Fair Debt Collection Practices Act case on whether the reputational harm of purportedly falsely furnishing information to the credit reporting agencies is enough for the plaintiff to have standing to sue.

• More details here.

DFS Reminds Regulated Entities: You Can Outsource Services to Third Parties, Not Accountability

• The New York Department of Financial Services has released new cybersecurity guidance emphasizing how regulated entities should manage the growing risks tied to third-party service providers. Acting Superintendent Kaitlin Asrow issued the guidance this week, which falls during Cybersecurity Awareness Month, warning that while vendors bring innovation and efficiency, regulated companies remain ultimately responsible for safeguarding consumer data and maintaining cybersecurity compliance.

• More details here.

Consumer Advocacy Pushes States to Rein In Earned Wage Access, Payday Lenders

• The Center for Responsible Lending is warning state and federal officials that payday loan apps, often marketed as “earned wage access” products, are trapping consumers in the same cycle of debt as traditional payday loans. In its new report, Nickel and Dimed: How Payday Loan Apps Drain Workers’ Pay and How to Stop Them, the advocacy group urges lawmakers and regulators to close loopholes that allow fintech lenders to operate outside consumer lending laws. The group says these apps, promoted as convenient cash advances, are actually high-cost loans that draw repeatedly from workers’ paychecks and extract triple-digit annualized fees.

• More details here.

WORTH NOTING: A lot of employees don't think their jobs are "quality" jobs ... A lot of aging Americans expect Social Security to help them make ends meet, but most are concerned they won't get everything that is coming to them ... Probably a ruling that is not worth writing about, but it's this kind of behavior that gives professions a bad name ... Reasons why you shouldn't take advice from people on social media about how to get out of debt ... How long before this becomes a movie that makes you wonder whether you have this kind of strength ... If you are looking for a cheap laptop, here is a list of the best ones under $500 ... Scientists can now tell how fast you are aging. The trick is to slow it down ... A report from Goldman Sachs on who is bearing the brunt of the impact that tariffs are having on the economy.

Top 10 Thursday, part I

Top 10 Thursday, Part II

Webinar Recap: Understanding The Ways You Can and Should Be Using AI in Your Operation

Artificial intelligence (AI) has become one of the most talked-about technologies in the credit and collections industry—but separating hype from practical application remains a challenge. In this webinar, sponsored by CSS Impact, industry experts shared how organizations can identify where AI can deliver real value, manage adoption responsibly, and measure success beyond immediate ROI.

Panelists Rob Grafath (CSS Impact), Juergen Lunkwitz (CCI), Richard Smith (Vantage Credit Union), and Regina Slowey (Barron & Newburger) agreed that AI should be introduced gradually, starting in areas with clear data and low compliance risk. Grafath noted that “AI isn’t a switch you flip—it’s a capability you grow,” while Slowey compared it to hiring a new employee that “requires training, feedback, and time to develop.”

The discussion explored several early-use cases, including AI copilots that assist collectors in real time, virtual agents for after-hours service, and QA tools that flag compliance issues and monitor sentiment during calls. Panelists emphasized the importance of governance and testing, warning against “shadow AI” use that can expose sensitive data.

Ultimately, success with AI depends on combining human intelligence with machine efficiency. As Smith put it, “If you expect AI to fix everything overnight, you’ll be disappointed—but if you train it right, it becomes one of your strongest team members.”

🧠 Key Takeaways:

• Start small and strategic: Pilot AI in manageable areas like quality assurance, compliance monitoring, or after-hours response before scaling up.

• Measure impact creatively: Look beyond traditional ROI—focus on time savings, reduced errors, and improved customer experience.

• Establish governance early: Set clear policies on how AI is used and ensure staff understand the ethical and data-security implications.

AI adoption isn’t about replacing people—it’s about empowering them to perform better, smarter, and faster.

The Daily Digest is sponsored by TCN