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Feds Seek To Limit Debt Collector Use Of Social Media Feds Seek To Limit Debt Collector Use Of Social Media January 26 adidas superstar white and gold stripes womens , 2014 | Author: Cornelius Nunev | Posted in Finance
In the wake of stiffer laws, some collectors and banks have turned to the social media as a way to locate debtors and to drum up brand new business. However, federal experts are considering restricting the practice.

Ways to stay away from rules

The Fair Debt Collections Practices Act does not check out the internet or social networking when looking at how collectors can contact customers. The act was there to set up rules to protect customers from abusive collectors, but the Internet was never addressed.

The Association of Credit and Collection Professionals is an international trade association that Mark Schiffman is part of. He explained that member businesses should not use social networking as the rules are not clear.

Not everyone says no to social networking

However, not every Accounts Receivable Management business has heeded those words.

Bloomberg did a piece where they talked to attorney Bill Howard about the debt collector methods.

“You get a friend request from some chick in a bikini,” Howard said. “You say yes adidas superstar womens shoes sale , and then somebody says ‘by the way, I’m a debt collector.’”

It is close to stalking or harassment, some think.

Problem on a federal standard

This issue has been noted by the Federal Trade Commission and Consumer Financial Protection Bureau. The organizations will decide if collectors can use LinkedIn, Facebook and other social sites to contact consumers.

These organizations have already spent a lot of time creating rules to defend consumers from aggressive legal practices, so it is not easier for customers to register grievances. Brand new changes have to be made apparently.

Financial institutions also in trouble

Meanwhile, The U.S. Federal Financial institutions Examination Council is urging the public to weigh in on its proposed guidance adidas human race for sale cheap , seeking to lay down limitations for how banking institutions can use social networking in attracting business. To view that guidance, go to:

The Regulations Government Website

The Consumer Financial Protection Bureau points out that 30 million Americans are being pursued by collectors, and about $12 billion in revenue is made in the Accounts Receivable Management industry annually. That a lot of cash and a ton of abuse.

Say what you think

Customers who feel they are being harassed by debt collectors should report the activity on line or by telephone to the Consumer Financial Protection Bureau or the Federal Trade Commission.

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Braves See No Risk In Potentially Signing Tim Tebow - RealGM Wiretap

The Atlanta Braves continue to contemplate signing Tim Tebow to a Minor League contract.

If they do so, the Braves would sign the former NFL quarterback because there is no risk involved.

Tebow would fill a need at Double-A Mississippi while serving as a non-roster player.

“Whatever Tim decides, the fact that he wants to play baseball is good for the game,” John Coppolella said. “It’s similar to when Michael Jordan or others have wanted to play. It’s positive to draw this kind of interest to the game and make it a story because it’s good for baseball.”

If the Braves were to sign Tebow adidas nmd r2 womens black for sale , they would provide a signing bonus of less than $100,000 and attempt to get him the reps he needs in the instructional league, which begins Sept. 17.

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