CFPB SPOTLIGHTS TRENDS IN DEBT COLLECTION CREDIT REPORTING
- The Consumer Financial Protection Bureau yesterday released a report that looked at the volume of third-party debt collection tradelines being furnished on consumers’ credit reports, and found that the number of collection tradelines dropped by one-third between 2018 and 2022. Contingency-fee-based debt collectors furnished 38% fewer tradelines during that period, according to the report.
- More details here.
HEARING SCHEDULED TO DEBATE COLORADO MEDICAL COLLECTION BILL
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- The Attorney General of Colorado, flanked by members of the state legislature, consumers, and other consumer advocates, yesterday held a news conference in support of their proposed bill that would cap the interest rate on medical debt, establish requirements on medical debt payment plans, and make violations of surprise or balance billing laws a deceptive trade practice, among other provisions. The news conference was in advance of a hearing that is scheduled for Thursday, February 23 to discuss the bill before the state Senate’s Health and Human Services Committee.
- More details here.
JUDGE GRANTS MTD FOR LACK OF STANDING IN FCRA CASE OVER DISPUTED DEBT
- It turns out that claiming a plaintiff lacks standing to sue just isn’t for Fair Debt Collection Practices Act cases; the argument can work on Fair Credit Reporting Act cases, too. A District Court judge in New York has granted a defendant’s motion to dismiss after it was sued for allegedly violating the FCRA because it furnished information to the credit reporting agencies that the account was more than 120 days past due even though it had been transferred to another creditor.
- More details here.
24 COMPANIES SEEKING COLLECTION TALENT
- Companies like Upwork, Resurgent Capital Services, LGE Community Credit Union, Bonneville Collections, and Signature HealthCARE are among those looking to fill vacancies in their collection operations.
- The job listings are great for those looking for work and are also great tools for companies to use as sources for ideas about what to include in their own job descriptions and to see how other companies write their job ads.
- More details here.
WORTH NOTING: Stealing 200,000 chocolate Easter eggs may sound like fun, but what do you with them afterwards? … Maybe they call it The Magic Kingdom because it makes your money disappear … How to make sure your workplace doesn’t suffer from toxic positivity … How to establish yourself as a thought leader … How to make money on the stuff around your your house … A member of Generation Z shares what she wants her future bosses to know … Pepsi is bringing back its Peeps-flavored soda … The four behaviors that are most likely to lead to divorce, according to experts.
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