Collections news at your fingertips

Stay up-to-date with the latest news and developments in the collections industry.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

October

31
2022
Industry News

Multiple data breaches suggest ed tech company Chegg didn’t do its homework, alleges FTC

Chegg, Inc., sells educational products and services directly to high school and college students. That includes renting textbooks, guiding customers in their search for scholarships, and offering online tutoring. But according to the FTC, the ed tech company’s lax security practices resulted in four separate data breaches in a span of just a few years, leading to the misappropriation of personal information about approximately 40 million consumers. The FTC complaint and some notable provisions in the proposed settlement suggest that it’s time for a data security refresher course at Chegg. Are there lessons your company can learn from where the FTC says Chegg failed to make the grade?

Read post

October

31
2022
Industry News

Education Department Releases Final Regulations to Expand and Improve Targeted Debt Relief Programs

Today, the U.S. Department of Education (Department) released final regulations that streamline and improve the rules for major targeted debt relief programs. The regulations expand eligibility, remove barriers to relief, and encourage automatic discharges for borrowers who are eligible for loan relief because their school closed, they have a total and permanent disability, or their loan was falsely certified. The rules also establish a fairer process for borrowers to raise a defense to repayment, while preserving borrowers’ day in court by preventing institutions of higher education (institutions) from forcing students to sign away their legal rights using mandatory arbitration agreements and class action waivers

Read post

October

31
2022
Industry News

CFPB seeks further public input on big tech payment platforms

In October 2021, the CFPB ordered six large technology and peer-to-peer platforms that operate payment services (Amazon, Apple, Facebook, Google, PayPal and Square) to provide information about their business practices, including their data collection and use, their policies for removing individuals or businesses from their platforms, and their policies and practices for adhering to key consumer protections like addressing disputes and errors. Today, the CFPB is announcing that it will re-open the public comment period for 30 days and add additional questions.

Read post

October

31
2022
Industry News

FTC Brings Action Against Ed Tech Provider Chegg for Careless Security that Exposed Personal Data of Millions of Customers

The Federal Trade Commission is taking action against education technology provider Chegg Inc. for its lax data security practices that exposed sensitive information about millions of its customers and employees, including Social Security numbers, email addresses and passwords. Chegg allegedly failed to fix problems with its data security despite experiencing four security breaches since 2017. The FTC’s proposed order requires the company to bolster its data security, limit the data the company can collect and retain, offer users multifactor authentication to secure their accounts, and allow users to access and delete their data.

Read post

October

31
2022
Trends

TNS Robocall Report: Robocalls Down 8% in 2022, accelerated by STIR/SHAKEN and Regulatory Enforcement

RESTON, Va.--(BUSINESS WIRE)--Progress by top US carriers implementing STIR/SHAKEN, aggressive regulatory enforcement efforts, and the use of advanced call analytics helped drive down robocall volume 8% in the first half of 2022 compared to the same period last year (from 37.9 billion down to 34.9 billion). However, scammers and spammers are continuing to launch robocall campaigns from smaller carrier networks - and adding robotexts to the arsenal - to evade detection.

Read post

Weekly newsletter

Get DebtHub's weekly newsletter, packed with the latest economic trends, compliance news, and strategy insights that matter to collections professionals like you.