At a glanceWednesday, June 13, 2018

Collection Industry News At A Glance - June 13, 2018
Wednesday June 13, 2018
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Mick Mulvaney seeks 20 percent funding cut for CFPB

Mick Mulvaney will seek a 20 percent cut in funding for the Consumer Financial Protection Bureau, the agency he leads, to bring funding back to the 2015 level. “I’ve asked them to run through the experiment of reducing spending by 20 percent," Mulvaney said of his staff Tuesday. "And we’re very close to finalizing that."

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Vendors are shipping Android devices with diagnostic port exposed

Vendors are shipping Android devices with open port setups that leave countless products open to attack. The port, 5555, is at the heart of an Android feature called Android Debug Bridge (ADB).

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Kansas City Payday Lender Gets 10 Years for $220M Scheme

KANSAS CITY, Mo. (AP) — A Kansas City payday lender has been sentenced to 10 years in prison for an illegal $220 million scheme to rip off borrowers. The Kansas City Star reports that a New York federal judge ordered the sentence Tuesday for 73-year-old Rick Moseley Sr. He was convicted last year of racketeering, aggravated identity theft and other criminal charges.

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The Debt Connection Symposium & Expo will be held September 5th – 7th at the JW Marriott in Austin, Texas.  The “Winning TCPA Cases” roundtable is on the schedule for Thursday, September 6th, from 3:30 p.m. to 5:00 p.m.  Roundtables are 30 minutes each.  Choose your three favorites to join during this educational segment.

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FTC Releases Agenda for June Workshop on Cryptocurrency Scams

The Federal Trade Commission has released its final agenda for a June 25 workshop in Chicago that will examine scams involving cryptocurrencies. Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, will give opening remarks at the workshop followed by three panel discussions. The first panel will provide background on consumer uses of cryptocurrencies. A second panel will examine different types of cryptocurrency scams. The last panel will discuss enforcement approaches to combating cryptocurrency scams, including law enforcement actions taken to date and challenges in effective enforcement.

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CallMiner to Host Master Class Workshop, Meet the Customer, and Demo Theater Events at Customer Contact Week 2018

Waltham, MA – June 12, 2018 – CallMiner, the leading platform provider of award-winning speech and customer engagement analytics, announced today the details of its hosted events and activities as an exhibitor at Customer Contact Week 2018. CallMiner will host a Master Class Workshop, a Meet the Customer event, and Demo Theater Presentations, as well as the always popular CallMiner Moscow Mule Reception.

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Cherry Hill, NJ- June 5, 2018- James Beck, the new Chief Operating Officer at MRS, is a seasoned collection leader with over 20 years of experience. Prior to joining MRS, Jim ran the Operations for 13 years at Associated Recovery Systems, Inc. as well as the Operations and Analytics at Circuit City Stores, Inc. At MRS, Jim will lead the Operations, Quality Assurance, Training, and Customer Experience teams.

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Student Loan Debt Relief Scam Operators Agree to Settle FTC Charges

The operators of a Los Angeles-based student loan debt relief scam have agreed to settle Federal Trade Commission charges that they falsely claimed to be affiliated with the Department of Education, charged consumers illegal upfront fees, and collected monthly fees they falsely claimed would be credited toward consumers’ student loans.

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Mulvaney Terminates Proceeding that Sparked Debate on BCFP Constitutionality

The long-running case against mortgage lender PHH Corporation came to an end Thursday following a recommendation from attorneys on both sides seeking dismissal of the case that resulted in a landmark $109 million penalty under Richard Cordray, former Bureau of Consumer Financial Protection Director.

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Cheryl Kananowicz Joins RevSpring as VP Financial Services

LIVONIA, Mich. (June 7, 2018) – RevSpring is pleased to announce the appointment of Cheryl Kananowicz as the Vice President of the Financial Services division. Kananowicz brings more than 20 years of sales, customer experience and senior leadership expertise in technology-based services solutions. Her deep industry knowledge and passion for the customer experience will benefit RevSpring clients as she leads the sales, relationship management and marketing teams.

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Quarterly consumer credit trends: End-of-year credit card borrowing

This is part of a series of quarterly reports of consumer credit trends produced by the Bureau of Consumer Financial Protection using a longitudinal, nationally-representative sample of approximately five million de-identified credit records maintained by one of the three nationwide credit reporting companies. This third report analyzes how credit card borrowing patterns evolve during and after the annual peak in consumer spending in November and December each year.

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Mulvaney guts consumer bureau’s advisory board

Consumer Financial Protection Bureau acting Director Mick Mulvaney has dismissed the members of the agency’s Consumer Advisory Board after drawing complaints that he had canceled two meetings with the panel with little notice.  The decision is the latest in a series of moves Mulvaney has made in his six-month tenure to more closely align the bureau with business interests — a stark change from the hard-charging, pro-enforcement stance taken by his predecessor, Richard Cordray.  Just last week, the CFPB joined a payday lenders association in a motion to stay litigation the group brought to challenge a 2013 rule reining in small-dollar lenders. Mulvaney said in January the agency would reconsider the rule.

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Ohio House Passes the Long-Delayed Payday Lending Overhaul

The Ohio House has passed a controversial payday-loan bill meant to close loopholes those lenders use to charge high interest rates. The vote occured as a reported probe into activities involving the former Speaker and payday lending lobbyists continues.

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You’re Fired: Mick Mulvaney Fires Entire CFPB Advisory Board

Acting director Mick Mulvaney has just fired the entire 25-member advisory board, which was starting to criticize the front office. Last night, Mulvaney told its members that they were being replaced. You’re fired, as Trump would say. 

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Portfolios For Sale

$5,876,318 Credit Cards
BDO Financial LLC

(469) 337-1427

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$179,105,818 Medical
BDO Financial LLC

(469) 337-1427

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(603) 288-0282


Definitive Consulting Services

(408) 709-1766

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Del Mar Recovery Solutions

(866) 606-7007

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MBSi Corp.

(602) 864-7847

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Industry Events

ACA International Convention & Expo 2018

ACA International

Omni Nashville Hotel 250 5th Ave S
Nashville , TN
July 23 - 25 , 2018

(952) 926-6547

National Association of Chapter 13 Trustees Annual Seminar

National Association of Chapter 13 Trustees

Fontainebleau Miami Beach 4441 Collins Ave,
Miami , FL
June 27 - 30 , 2018

(800) 445-8629

RMA’s Executive Summit

Receivables Management Association International (RMA)

Cliff House Maine 591 Shore Rd
Cape Neddick , ME
July 31 - August 02 , 2018

(916) 482-2462

Debt Connection Symposium & Expo 2018

Produced by Resource Management Services, Inc.

JW Marriott
Austin , TX
September 05 - 07 , 2018


Auto Finance Summit 2018

Auto Finance News

Wynn Las Vegas 3131 S Las Vegas Blvd
Las Vegas , NV
October 24 - 26 , 2018

(212) 564-8972 Option 4

LendIt Fintech Europe 2018

LendIt Conference LLC.

Business Design Centre 52 Upper Street
Ilsington London , England
November 19 - 20 , 2018

(646) 930-6366

Collection & Recovery Solutions 2019

Resource Management Services, Inc.

10440 Pioneer Bl;vd. #2
Santa Fe Springs , CA
May 08 - 10 , 2019