NAFCU urges CFPB to keep CUAC meetings

NAFCU, in a letter to the CFPB Tuesday, encouraged the bureau to continue meeting with credit unions through its Credit Union Advisory Council (CUAC) and other external engagements in order to allow stakeholders ample opportunity to offer feedback on financial issues and the CFPB's rulemakings.

Vermont Becomes First State To Regulate Data Brokers

Data brokers that sell personal information about residents of Vermont must register with the state, under a new law regulating the industry.

Following Push from Harris, Murray, Warren, Democratic Colleagues, Education Department Agrees to Phase Out Private Debt Collectors in Federal Student Loans

WASHINGTON, D.C. – The Department of Education filed a motion this week announcing a plan to phase out the use of private debt collectors contracted to pursue defaulted student loan borrowers, and instead rely on current loan servicers. Private debt collectors aggressively pursue defaulted student loan borrowers while profiting from taxpayer dollars.

The Washington Post Reports that DOE will Stop Using ARM Companies to Recover Student Loan Debts

The U.S. Department of Education (DOE) plans to stop using accounts receivable management companies to recover overdue student loans, according to an article published May 25 in The Washington Post .

U.S. Department of Education Moves Forward with Motion to Dismiss Case on Contract Cancellations

The U.S. Department of Education (DOE) is standing by its motion to dismiss a U.S. Court of Federal Claims case protesting contract awards for two student loan servicers, which were canceled in May 2018.

CallMiner Announces Eureka Coach to Provide Contact Center Optimization with Continuous Insight and Closed-Loop Case Management

Waltham, MA – May 29, 2018 – CallMiner, the leading platform provider of award-winning speech and customer engagement analytics, announced today the latest release of its agent performance management platform, now branded Eureka Coach. Eureka Coach is a cloud-based portal that automates and accelerates performance feedback to contact center agents and supervisors based on objective scoring from CallMiner Eureka speech analytics.

The CMI Group Hosts Game Drive to Benefit Ronald McDonald House of Dallas

Carrollton, TX: During May 2018, The CMI Group (CMI) conducted a game drive to raise donations for Ronald McDonald House of Dallas. The CMI Group and its employees donated over 50 board games, card games, and puzzles for the children and families at Ronald McDonald House and for their family rooms in various local hospitals. CMI is gratified to be able to provide a means to allow the children and their families served by Ronald McDonald House of Dallas to enjoy fun pastimes together during their hospital stays.

Segment of Population Using Alternative Loans May Perform Well on Traditional Credit Products

Two-thirds of consumers active in the alternative loan market fall in the subprime risk category, the riskiest of all credit tiers. Yet, a new TransUnion (NYSE: TRU) study found that many of these consumers perform well when opening traditional credit products such as credit cards, auto and personal loans.

Board Proposes Second Payday Alternative Loan Option, Seeks Comment on a Third

ALEXANDRIA, Va. (May 24, 2018) – The National Credit Union Administration Board held its fifth open meeting of 2018 at the agency’s headquarters today and unanimously approved two items: A notice of proposed rulemaking seeking comment on the agency’s proposal to provide federal credit unions with additional options for payday alternative loans. A final rule clarifying agency procedures for resolving severance claims arising from involuntary liquidations.

Supreme Judicial Court Announces Amendments to the Mass. Rules of Civil Procedure Regarding Credit Card Debts

BOSTON MA — The Justices of the Supreme Judicial Court today announced two new rules of civil procedure related to civil actions against individuals for money damages arising from credit card debt.

OCC gives banks green light to offer short-term loans

The Office of the Comptroller of the Currency (OCC) on Wednesday pushed U.S. banks to offer short-term loans to customers with troubled credit histories, a practice shunned by the regulator five years ago.

Bureau Acting Director Mulvaney Statement on the OCC Short-Term, Small-Dollar Lending Announcement

WASHINGTON, D.C. – Today, Bureau of Consumer Financial Protection (Bureau) Acting Director Mick Mulvaney issued the following statement in response to a bulletin from the Office of the Comptroller of the Currency (OCC) regarding short-term, small-dollar credit:

Banks are facing a new breed of competitor, BBVA chairman says

Francisco Gonzalez said that it is tech firms, both large and small, that the banking industry should be monitoring – and not other financial institutions. One of the biggest challenges for the banking system is adapting to the fast-changing tech world, with digital currencies and online banking taking center stage.

FTC Gives Final Approval to Settlement with PayPal Related to Allegations Involving its Venmo Peer-to-Peer Payment Service

The Federal Trade Commission has given final approval to a settlement with PayPal, Inc. over allegations that its Venmo peer-to-peer payment service misled consumers about their ability to transfer funds to external bank accounts and control the privacy of their Venmo transactions

FTC Action Halts Deceptive Robocalls Aimed at Small Business Owners

The Federal Trade Commission has charged a Florida-based scheme with deceiving small business owners by falsely claiming to represent Google, falsely threatening businesses with removal from Google search results, and falsely promising first-place or first-page placement in Google search results.

Transworld Systems Inc. Successfully Completes Recapitalization Transaction

LAKE FOREST, Ill., May 23, 2018 /PRNewswire/ -- Transworld Systems Inc. ("TSI" or the "Company") – the nation's leading analytics-driven provider of accounts receivable management, healthcare revenue cycle, and loan servicing solutions – completed a comprehensive financial restructuring of the Company's debt and equity on Tuesday, May 22nd, 2018.

RNN Group Announces New General Counsel and Chief Compliance Officer

ATLANTA, May 23, 2018 /PRNewswire/ -- RNN Group, the leading provider of centralized verified asset procurement and monitoring solutions, today announced the newest member of the RNN Group, Jay Carter.

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