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Friday, June 30, 2017
This Weeks Articles:
FTC RETURNS MORE THAN $49 MILLION IN REFUNDS TO DEVRY STUDENTS
Starting today, the Federal Trade Commission is mailing 173,000 refund checks totaling more than $49 million to students in compensation for DeVry University's allegedly misleading ads, which the Commission alleged deceived students about their likelihood of finding jobs in their field of study and the income level they could achieve upon graduation.
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RESURGENT CAPITAL SERVICES AND EXETER FINANCE CORP. WILL HOLD FEATURED COMPANY MEETINGS AT DCS2017
Resource Management Services, Inc. is pleased to announce that Resurgent Capital Services and Exeter Finance Corp. will hold private, invitation only Featured Company meetings, along with Hyundai Capital America and Toyota Financial Services, during Debt Connection Symposium and Expo 2017 conference, at the JW Marriott Starr Pass in Tucson, AZ, September 11-13, 2017.
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GATESTONE ANNOUNCES ACQUISITION
Gatestone & Co. Inc. (Gatestone), announces in a joint press release with Alorica that it has acquired all of the outstanding shares of NCO Financial Services, Inc. (NCO), 1st and 3rd Party collection business operating in Canada. Gatestone also acquired certain segments of Third-Party non-healthcare operations of Global Receivables Solutions, Inc. (GRSI) handled in Omaha, NE and Fredericksburg, VA. This transaction represents a unique and significant opportunity to enhance Gatestone's growth and advance the Company's strategic focus on growing its core business worldwide.
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FINAL CLASS FOR 2017 THIRD PARTY VENDOR AUDITING WORKSHOP IN CHICAGO IL JULY 19-20 2017
The final Third Party Vendor Auditing Workshop this year will be held July 19-20 in Chicago, IL. The Third Party Vendor Auditing Workshop is a two-day class designed for compliance officers, vendor managers or collection agency auditors who would like to learn more strategy and practical tips for auditing collection activities, whether at your own shop or at one of your vendor's.
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DEBT COLLECTION IS GOING DIGITAL. HERE'S WHAT IT MEANS FOR DEBTORS
The next time you speak to a debt collector, you might find yourself negotiating with a computer. And you might actually prefer that.
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FTC ACCEPTS PROPOSED CONSENT ORDER IN BROADCOM LIMITED'S $5.9 BILLION ACQUISITION OF BROCADE COMMUNICATIONS SYSTEMS, INC.
Semiconductor manufacturer Broadcom Limited has agreed to establish a firewall to remedy the FTC's concerns that its proposed $5.9 billion acquisition of Brocade Communications Systems, Inc. is anticompetitive. These concerns arise because of Broadcom's current access to the confidential business information of Brocade's major competitor, Cisco Systems, Inc., that could be used to restrain competition or slow innovation in the worldwide market for fibre channel switches.
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PSCU NATIONALLY RANKED AS ONE OF THE TOP 11 BEST CREDIT UNIONS FOR BUSINESS
Public Service Credit Union (PSCU) was recently named in Advisory HQ's nation-wide list of the Top 11 Best Credit Unions for Business.
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HERE'S A SNAPSHOT OF HOW CALIFORNIA CREDIT UNIONS PERFORMED IN THE MORTGAGE MARKET
California credit unions witnessed an uptick in mortgages over the past year, according to the latest snapshot report from the California Credit Union League that analyzed the year-over-year data trends for credit unions.
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NEW DEBT BUYER LAWS IN MAINE DEFINE DEBT BUYERS; ADD REQUIREMENTS FOR COLLECTING PURCHASED DEBTS AND IMPOSE LIABILITIES ON DEBT BUYERS.
Maine Gov. Paul LePage signed a bill June 16 amending the state's Fair Debt Collections Practices Act. Among the amendments to L.D. 1199 are new definitions for debt buyers, charged off debt and resolved debt. The amendments also add requirements for the transfer of debts from creditor to debt buyer, collection actions by debt buyers, as well as civil penalties for debt buyers who violate the act.
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FTC AND OTHER CONSUMER PROTECTION AGENCIES UNVEIL UPDATED WEBSITE FOR INTERNATIONAL CONSUMER PROTECTION AND ENFORCEMENT NETWORK
The Federal Trade Commission and consumer protection agencies in more than 60 other countries that are part of the International Consumer Protection and Enforcement Network (ICPEN) today unveiled an update of ICPEN's website - www.icpen.org (link is external) - to help members identify and respond to consumer challenges that cross international borders.
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FTC RETURNS MONEY TO VICTIMS OF ABUSIVE DEBT COLLECTION OPERATION
The Federal Trade Commission is mailing 4,380 checks totaling more than $550,000 to people harmed by Houston-based Goldman Schwartz, Inc., a debt collection operation that also used other business names, including Cole, Tanner & Wright and Harris County Check Recovery.
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FOUNDER OF DECA FINANCIAL SERVICE IN FISHERS SENTENCED IN FRAUD CASE
INDIANAPOLIS B United States Attorney Josh Minkler announced today the sentencing of a former financial institution owner after pleading guilty to wire fraud, bank fraud and bankruptcy fraud charges. Todd J. Wolfe , 54, was sentenced to 51 months (over four years) imprisonment by U.S. District Judge Tanya Walton Pratt.
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AMERICA IS HOOKED ON CREDIT CARDS - AND IT'S PRETTY CLEAR WHY
Americans have racked up $1.01 trillion in revolving debt - primarily credit card debt - according to the Federal Reserve. That's the highest tally since the financial crisis in 2008.
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CHAIRMAN PAI ANNOUNCES LEIGHTON AS CHIEF OF OFFICE OF STRATEGIC PLANNING & POLICY ANALYSIS
WASHINGTON, June 28, 2017 - FCC Chairman Ajit Pai today announced that the agency has chosen Wayne Leighton as chief of the FCC's Office of Strategic Planning and Policy Analysis, continuing the work he has been doing as acting chief.
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FEDERAL RESERVE REPORT AFFIRMS IMPORTANCE OF DEBT COLLECTION IN THE CREDIT ECOSYSTEM
June 29, 2017 (Sacramento, CA) - The Federal Reserve Bank of New York published a report in May 2017 confirming the vital role of debt collection in the credit-based economy. The report, titled Access to Credit and Financial Health: Evaluating the Impact of Debt Collection, is based on data analytics between states with varying degrees of regulation. The analysis found that, "restricting collection activities leads to a decrease in access to credit across the full spectrum of borrowers and to a deterioration in indicators of financial health." A rise in delinquencies and a reduction in credit scores are among the negative outcomes resulting from restricted collection activities, the effects of which are "concentrated on individuals with the lowest credit scores."
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NISSAN ANNOUNCES SENIOR MANAGEMENT CHANGES
NASHVILLE, Tenn. - Nissan Motor Company is making several leadership changes in its North American sales finance function.
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ALORICA COMPLETES ACQUISITION OF EXPERT GLOBAL SOLUTIONS, SOLIDIFYING COMPANY AS THE CLEAR LEADER IN THE U.S. MARKET
IRVINE, CA--(Marketwired - Jun 30, 2016) - Alorica, a worldwide leader in customer experience outsourcing solutions, today announced that it has completed the acquisition of Expert Global Solutions, Inc. (EGS). The resulting $2.4 billion Alorica is now the largest customer experience business process outsourcer servicing the U.S., and third largest globally.
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CREDIT UNIONS IN THE EASTERN DISTRICT OF CALIFORNIA AMONG CLIENTS DEFRAUDED BY DEBT COLLECTION COMPANY
SACRAMENTO, Calif. - Charles V. Stanley Jr., 63, of Southern California, was arrested on Wednesday in Los Angeles on a 15-count indictment returned by a federal grand jury in Sacramento charging him with conspiracy to commit bank fraud, mail fraud and wire fraud, as well as separate counts of bank fraud, wire fraud and mail fraud, U.S. Attorney Phillip A. Talbert announced.
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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
$2,200,000.00     Checks
Premier Asset Management, LLC
http://www.debtconnection.com/portfolio.asp?7923  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?5453  

$11,087,488.00     Credit Cards
Sea Side Management, LLC
http://www.debtconnection.com/portfolio.asp?7922  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?7864  

$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  

Debt Buyers
INVESTORS FOR HOMESLLC
646-598-9708

Debt Sellers
LEGACY GROUP UNITED
Kaitlynn Obrien
877-827-9328
More Information

Industry Events
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

2017 RMA Executive Summit
Receivables Management Association International
Resort at Squaw Creek
Lake Tahoe, CA
August 1 - 3, 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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RESOURCE MANAGEMENT SERVICES, INC., 10440 Pioneer Blvd., Suite 2, Santa Fe Springs, CA 90670-8235

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At A Glance - Wednesday, January 04, 2017

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