CFPB Announces Rulemaking to Remove Medical Debt From Credit Reports
- The Consumer Financial Protection Bureau today announced it was beginning the rulemaking process to remove medical debts from consumers’ credit reports, removing the “leverage” that debt collectors use to “pressure” consumers into repaying unpaid medical debts.
- More details here.
Reaction to CFPB’s Medical Debt Announcement
- Yesterday, the Consumer Financial Protection Bureau announced it was beginning the rulemaking process to remove medical debt from consumers’ credit reports. There is still a long way to go in this process and a lot could change between now and when — or even if — a final rule is issued, but in the meantime, here are some comments from participants on both sides of the debate.
- More details here.
Judge Denies MTD in Case Against Owners of Payday Lending Company Accused of Hiding Millions to Avoid Fines
- A District Court judge in Kansas has denied a motion to dismiss filed by a husband and wife who are being sued by the Consumer Financial Protection Bureau for fraudulently trying to hide $13 million in assets as a means of avoiding having to use them to settle $40 million in fines and penalties that were assessed in an earlier enforcement order.
- More details here.
Suit Accuses Collector of Ignoring Request to Only Communicate via Email
- This is one of those times where I am writing about a complaint because it’s emblematic of a number of complaints I have seen in recent months and it’s definitely worth making sure your policies and procedures in this area are appropriately buttoned up. There have been a number of complaints filed, including this one, accusing collectors of attempting to communicate with consumers at inconvenient times and places because they are allegedly not honoring requests from consumers who are asking to be communicated with via specific channels.
- More details here.
- This series is sponsored by WebRecon
WORTH NOTING: The world’s best pizza maker shares his tips for the perfect slice … Feedback has been replaced with “feedforward” … How to confirm your Airbnb is real and not a fake listing … Most Americans still rely on their parents for financial support well into adulthood … Not many people say they have a “healthy” relationship with their job, according to a new survey … The best places to park your cash while interest rates are high … IF you have $10 million, you can buy Bob Ross’s first TV painting … The Wienermobile rides again!
Funny Friday, part I
Funny Friday, part II
The Daily Digest is sponsored by TCN. Today, contact centers need to do more with less. TCN’s cloud-based predictive dialing tools and services help clients to leverage the most sophisticated inbound, outbound, and blended calling technologies available. TCN’s award-winning platform offers multiple features to assist in compliance while improving performance with no hardware, no monthly minimums, or maintenance fees. Call 866-745-1900 or visit tcn.com today.