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April

19
2024
Industry News

Washington State Collection Agency Board Seeks General Public Member

The Washington State Collection Agency Board is currently accepting applications for a general public member to join the board. Members of the public may apply for a board or commission at any time, regardless of whether there is a current or upcoming vacancy, as vacancies occur periodically throughout the year.

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April

19
2024
Industry News

CFPB Levels Up: Consumer Risks in Gaming Draws Regulatory Scrutiny

If you thought virtual reality was free from real-world regulations, think again. On April 4, 2024, the CFPB released an Issue Spotlight that dives deeply into a realm the agency had not previously traversed—video games and virtual worlds.

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April

19
2024
Industry News

CHARGES: WESTERN PA. TOW TRUCK OPERATOR INFLATED COSTS, CHARGED 27 VEHICLE OWNERS NEARLY $300K FOR SHORT-TRIP TOWS

HARRISBURG — Attorney General Michelle Henry, along with the Allegheny County Police Department, announced charges against the owner of a Pittsburgh-based towing company for inflating tow costs by charging “accident services” fees and other deceptive practices.

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April

19
2024
Industry News

Brown, Reed Push Big Banks to Protect Consumers from Wire Fraud

WASHINGTON, D.C. – Today, U.S. Senators Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Jack Reed (D-RI), a senior member of the Senate Banking and Housing Committee, are pushing the nation’s four largest banks to protect consumers from costly and damaging wire fraud.

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April

19
2024
Strategy

Acceptable Performance – 50% of a Top Performer?

Consider this scenario: You hire a landscaper to mow your lawn for $100, but upon returning home, you realize the backyard has not been touched. Subsequently, you receive a bill for the full $100. How would you handle this situation? Now, let us parallel this with collection teams. Is it fair for a collector to only deliver 50% of what the best performer achieves and still be deemed as meeting expectations? It is common to observe collectors consistently falling short, sometimes delivering less than even 50% of the best performer’s results.

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