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Wednesday, June 28, 2017
This Weeks Articles:
CFPB TAKES ACTIONS AGAINST CREDIT REPAIR COMPANIES FOR CHARGING ILLEGAL FEES AND MISLEADING CONSUMERS
WASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) today filed two complaints and proposed final judgments in federal court against four California-based credit repair companies and three individuals for misleading consumers and charging illegal fees. The Bureau alleges that the companies not only charged illegal advance fees for credit repair services, but also misrepresented their ability to repair consumers' credit scores. Under a proposed final judgment, Prime Credit, LLC, IMC Capital, LLC, Commercial Credit Consultants, Blake Johnson, and Eric Schlegel would pay a civil money penalty of more than $1.5 million. Under a second proposed final judgment, Park View Law, known formerly as Prime Law Experts, Inc., and its owner Arthur Barens would pay $500,000 in relinquished funds to the U.S. Treasury.
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STATEMENT BY NEW YORK STATE INSPECTOR GENERAL CATHERINE LEAHY SCOTT ON THE ARREST AND ARRAIGNMENT TODAY OF JOSEPH CIFFA AND HIS CODEFENDANTS ON FEDERAL FRAUD CHARGES
"Through an elaborate fraud, the lead defendant in this case preyed on consumers with fear tactics meant to extort hundreds of thousands of dollars in debts that often were not even owed. Then he further preyed on taxpayers by hiding his six-figure income so he and his family could collect government health care benefits to which he was not entitled and which were meant for those truly in need. These brazen acts have been exposed and are being prosecuted because of a successful partnership between State and federal law enforcement agencies. I will continue to aggressively investigate these cases in order to protect New Yorkers from such fraud and abuse.
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CFPB RELEASES STATE-LEVEL SNAPSHOT OF CONSUMER COMPLAINTS
WASHINGTON, D.C. - Today the Consumer Financial Protection Bureau (CFPB) released a special edition of its monthly complaint report, providing a snapshot of consumer complaints submitted across the country. For each state and the District of Columbia, the report provides statistics on complaint volume, the products and services generating the most complaints, company response rates, and a look at complaints from servicemembers and older Americans. The report also gives a national overview and spotlights narratives submitted by consumers regarding their experience with the CFPB's complaint process. Overall, the Bureau has received over 1,218,600 complaints as of June 1, 2017.
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PENFED PRESIDENT AND CEO JAMES SCHENCK RECEIVES 2017 CREDIT UNION HERO OF THE YEAR AWARD AT AMERICA'S CREDIT UNION CONFERENCE
TYSONS, Va., June 26, 2017 /PRNewswire-USNewswire/ -- The Credit Union National Association (CUNA) today presented PenFed Credit Union President and CEO James Schenck with its 2017 Credit Union Hero of the Year Award at the America's Credit Union Conference in Las Vegas.
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CALLMINER ANNOUNCES EUREKA STARTER EDITION BRINGING SPEECH ANALYTICS TO SMALL CONTACT CENTERS AND COMPANIES STARTING THEIR ANALYTICS JOURNEY
Waltham, MA, June 28, 2017 (GLOBE NEWSWIRE) - CallMiner(r), the leading platform provider of award-winning speech and customer engagement analytics, today announces a new offering - Eureka Starter Edition, a full speech transcription and rich search and discovery tool designed for smaller contact centers or larger organizations looking to gain insight into their customer interactions without the need to dedicate an analyst.
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WHY ARE LENDERS LOOSENING CREDIT STANDARDS?
Lenders are continuing to loosen up their credit standards-and they plan to keep on doing it as the year goes on, according to the Q2 2017 Mortgage Lender Sentiment Survey released by Fannie Mae on Monday. In fact, the share of lenders who say they plan to ease credit standards on GSE, non-GSE, and government loans over the next three month has hit its highest point since the survey's inception.
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MARYLAND PROVIDES DATES FOR TRANSFERRING LICENSING INFORMATION INTO NMLS
The transition of all licensees to the Nationwide Multistate Licensing System and Registry (NMLS) in Maryland, including debt collection licenses, will begin on Aug. 1, 2017. As previously reported by ACA International, Maryland's recently enacted House Bill 182 permits the transition of several types of licenses, including debt collection licenses, to the NMLS. The state issued an Advisory Notice on June 15, 2017, advising that the mandatory transition of all licensees to NMLS will last from Aug. 1 to Sept. 30, 2017.
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DEFENDANTS INVOLVED IN SELLING BUSINESS COACHING PROGRAMS SETTLE FTC CHARGES
Seven individuals and eight companies they control have agreed to settle Federal Trade Commission charges in a deceptive telemarketing operation that took millions of dollars from thousands of consumers who were trying to start home-based Internet businesses. The defendants have agreed to be banned from selling business coaching services and work-at-home opportunities.
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PATIENTS MAY BE THE NEW PAYERS, BUT TWO IN THREE DO NOT PAY THEIR HOSPITAL BILLS IN FULL
Chicago, June 26, 2017 - A new TransUnion Healthcare (NYSE:TRU) analysis revealed a significant rise in the percentage of patients that didn't pay their hospital bills in full. Approximately 68% of patients with bills of $500 or less did not pay off the full balance during 2016 - up from 53% in 2015 and 49% in 2014.
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SECRETARY OF EDUCATION BETSY DEVOS ANNOUNCES INTENT TO APPOINT DR. A. WAYNE JOHNSON AS CHIEF OPERATING OFFICER OF FEDERAL STUDENT AID
WASHINGTON-Today, U.S. Secretary of Education Betsy DeVos announced her intent to appoint Dr. A. Wayne Johnson as Chief Operating Officer of Federal Student Aid (FSA). Dr. Johnson is a highly regarded leader with more than 30 years of experience in the financial services industry and holds a Ph.D. in higher education leadership.
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FTC CHARGES DEBT COLLECTION SCHEME TOOK CONSUMERS' MONEY FOR PHANTOM DEBTS THEY DID NOT OWE
The Federal Trade Commission has charged a North Carolina debt collection operation and its owner with taking money from consumers for fake debts they did not owe. The action is part of the FTC's crackdown on "phantom" debt collection.
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CFPB SPOTLIGHTS BORROWER COMPLAINTS ABOUT STUDENT LOAN SERVICERS MISHANDLING PUBLIC SERVICE LOAN FORGIVENESS PROGRAM
WASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) today issued a report spotlighting complaints from borrowers about student loan servicers mishandling Public Service Loan Forgiveness. The Public Service Loan Forgiveness program provides people in public service jobs with a path to debt forgiveness after 10 years, with the first borrowers eligible in October 2017. Borrowers report that servicers delay or deny access to loan forgiveness through wrong information about their loans, flawed payment processing, and bungled job certifications. The CFPB also issued updated guidelines to prioritize oversight of servicers' administration of the Public Service Loan Forgiveness program. Also, the Bureau is launching the "Certify Your Service" campaign to help public servants stay on track for federal loan forgiveness.
read more

OCC HEAD HAS IDEAS TO HELP SMALLER BANKS
When it comes to regulatory reform, smaller community banks should be a prime concern, according to Acting Comptroller of the Currency Keith A. Noreika. Noreika said as much in his address to the Senate Committee on Banking, Housing, and Urban Affairs on Thursday.
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FTC WRAPS UP MAJOR PHONE CRAMMING CASE AS REMAINING DEFENDANTS SETTLE CHARGES
The remaining defendants behind a massive landline cramming operation agreed to settle Federal Trade Commission charges that they placed more than $70 million in unauthorized charges on consumers' phone bills.
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PREPARED REMARKS OF CFPB DIRECTOR RICHARD CORDRAY AT THE PUBLIC SERVICE STUDENT LOAN FORGIVENESS EVENT
Thank you. I am pleased to be here today to update you on the Consumer Financial Protection Bureau's work to protect the millions of Americans who carry student debt. My special thanks go to Attorney General Stein for joining with us in standing up for students and student loan borrowers in North Carolina. We know our young people are bearing a heavy burden, yet this issue touches Americans of all ages. In particular, we want to discuss an important federal program that was created to recognize those who serve our communities by providing them with deserved debt relief on their student loans.
read more

DebtConnection.com is a searchable database of collection products and services.
The following Updates and New Entries occured since the last At A Glance was sent:
Portfolios For Sale
$2,349,348.00     Payday Loans
Liberty Credit Management
http://www.debtconnection.com/portfolio.asp?7921  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8084  

$6,343,584.00     Credit Cards
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7918  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$1,048,894.00     Credit Cards
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7911  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$2,250,050.00     Consumer Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7912  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$5,492,268.00     Credit Cards
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7913  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$23,958,730.00     Credit Cards
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7914  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$890,388.00     Payday Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7915  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$1,317,463.00     Other
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7917  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$494,966.00     Payday Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7919  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$581,493.00     Payday Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7920  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$4,500,405.00     Credit Cards
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?7916  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7193  

$1,092,490.00     Payday Loans
Sea Side Management, LLC
http://www.debtconnection.com/portfolio.asp?7910  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7864  

$2,894,786.00     Credit Cards
Sea Side Management, LLC
http://www.debtconnection.com/portfolio.asp?7908  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7864  

$1,466,116.00     Other
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?7903  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774  

$98,563,364.00     Credit Cards
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?7905  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774  

$70,104,360.00     Credit Cards
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?7906  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774  

$3,734,789.00     Consumer Loans
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?7904  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774  

Agency
CALIBRATED RECEIVABLES LLC
800-685-3695

Debt Buyers
QUARTELL & ASSOCIATES
818-527-2020

AJV FINANCIAL GROUP
908-617-4050

CALIBRATED RECEIVABLES LLC
800-685-3695

Industry Events
Connected Cars: Privacy, Security Issues Related to Connected, Automated Vehicles
Federal Trade Commission
CONSTITUTION CENTER
Washington, DC
June 28, 2017
More Information

National Association of Chapter 13 Trustees Annual Seminar
National Association of Chapter 13 Trustees
Sheraton Seattle Hotel
Seattle, WA
July 12 - 15, 2017
More Information

CLLA/IACC 2017 Mid-Year Collection Conference
National Association of Chapter 13 Trustees
Motif Seattle
Seattle, WA
July 14 - 16, 2017
More Information

ACA International Convention & Expo 2017
ACA International
Washington State Convention Center
Seattle, WA
July 16 - 18, 2017
More Information

Third Party Vendor Auditing Workshop
Resource Management Services, Inc.
Chicago Marriott Southwest
Chicago, IL
July 19 - 20, 2017
More Information

Debt Connection Symposium and Expo 2017
Resource Management Services, Inc.
JW Marriott Starr Pass
Tucson, AZ
September 11 - 13, 2017
More Information

Sponsors
This report is sponsored by Resource Management Services, Inc. Check us out at: http://www.resourcemanagement.com/

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