Laura Walsh owed 560 to a local department store. The debt was ...

[lracut11]

Laura Walsh owed 560 to a local department store. The debt was assigned to a collection agency. The agency did the following: (a) used a postcard to contact Laura and summarize her debt, (b) called her at 7 AM to catch her before she left for work, (c) called her in spite of Laura's requests to stop, (d) contacted her employer about the debt, (e) contacted her at the hospital as she visited her ill mother. Are any of the actions improper?

Question 2

List the provisions of the Sarbanes-Oxley Act that affect corporation governance.

[pallen55]

Answer to Question 1

All of them are improper and illegal under the FDCPA. (a) violation of privacy; (b) before 8 AM hour; (c) must stop if debtor asked; (d) privacy problem; (e) harassment.

Answer to Question 2

The act has provisions on the structure of the board, particularly independent directors and their role. The act also requires a code of ethics on financial issues. The act prohibits loans to officers. The act requires up-the-ladder reporting by auditors and lawyers.

[lracut11]

Excellent

[Joy Chen]

TYSM