CONSUMER AND GOVERNMENTAL AFFAIRS BUREAU SEEKS INPUT FOR REPORT ON ROBOCALLING

With this Public Notice, the Consumer and Governmental Affairs Bureau (Bureau) solicits input for a staff report (Report) on robocalling. In November 2018, the Commission directed the Bureau to prepare the Report in consultation with the Federal Trade Commission’s Bureau of Consumer Protection.1

Supreme Court: Warrant generally needed to track cell phone location data

Washington (CNN)The Supreme Court on Friday said the government generally needs a warrant if it wants to track an individual's location through cell phone records over an extended period of time.

CFPB’s structure is unconstitutional: judge

NEW YORK (Reuters) - A federal judge in New York ruled on Thursday that the structure of the U.S. Consumer Financial Protection Bureau is unconstitutional, forbidding the agency from suing a company that advances money to people awaiting settlement payouts. The decision by U.S. District Judge Loretta Preska is at odds with a February ruling by the federal appeals court in Washington that upheld the CFPB's structure.

Vectra finds increase in hidden tunnel cyberattacks against financial services firms

A new report from Vectra finds financial services organizations worldwide are facing more and more cyberattacks by sophisticated hackers who use hidden tunnels to burrow into corporate networks and remotely siphon off valuable data. Vectra’s 2018 Spotlight Report “Could an Equifax-sized data breach happen again?” charts a rise in security breaches across industries, including financial services, despite the fact that firms are spending heavily on cybersecurity.

FTC to Host Workshop in Chicago on Cryptocurrency Scams

The Federal Trade Commission will hold a workshop to examine cryptocurrency scams. WHEN: Monday, June 25, 1-4 pm CT WHERE: DePaul University 1 East Jackson Blvd., Suite 8005 Chicago, IL 60604 WHO: Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, as well as industry representatives, consumer advocates, government officials, researchers, and others. WEBCAST: The workshop will be webcast. The webcast link will be posted to the event page on the day of the event.

Shred-it Study Exposes Employee Negligence as Top Information Security Risk to U.S. Businesses

LAKE FOREST, IL, June 20, 2018 /PRNewswire/ - With one-third of working adults in the U.S. admitting to potentially risky behavior at work, employee negligence poses major security concerns for U.S. businesses. That is according to Shred-it's State of the Industry Report, which exposes information and data security risks currently threatening U.S. enterprises and small businesses and includes survey findings from the Shred-it Security Tracker, conducted by Ipsos.

Puerto Rico’s credit unions stare down another hurricane season

After a devastating 2017, the 2018 hurricane season is officially under way. And in Puerto Rico – which was hammered last summer by Hurricane Maria –the good news for credit unions is that the lights are on, branch traffic is up and, in some instances, loan demand is high.

Cybersecurity – how confident (complacent?) are you?

Attention all cybersecurity professionals! We all know that today’s cybersecurity landscape is an ever-changing one. So how often should organizations review their cybersecurity strategy? If it’s a question that hasn’t been asked in a while, chances are that in this world of constant threat, you’re probably at risk.

The Great Debate Continues at the Debt Connection Symposium and Expo 2018

The Great Debate Continues – Collection – Compliance – Effectiveness! Happy to announce our final debaters for Debt Connection Symposium & Expo. Join us September 5th – 7th at the JW Marriott in Austin, Texas for this lively, informative, and entertaining debate on issues involving collections, recovery, compliance, technology, oversight, training, hiring, vendor management and more.

Do remote workers increase your chance of a data breach? 86% of CXOs say yes

...the report found, 86% of business executives agreed data breaches are more likely to occur when employees are working out of office. While CXOs do have security plans in place for these occurrences, only 35% of SBOs currently have a policy for storing or deleting confidential data remotely, and 54% of SBOs have no policy whatsoever, said the report.

Banking by smart speaker arrives, but security issues exist

NEW YORK (AP) — Hey Alexa, what’s my bank account balance? Big banks and financial companies have started to offer banking through virtual assistants — Amazon’s Alexa, Apple’s Siri, and Google’s Assistant — in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voice. And with the rapid adoption of Zelle, a bank-to-bank transfer system, it soon could be possible to send money to friends or family instantly with voice commands.

Bills headed for California Senate would put limits on payday, auto-title lending

State legislators killed a bill that would have reshaped much of California’s consumer lending market, but two more-modest bills made it through the state Assembly and now move on to the Senate.

Banking program aims to provide lower-cost alternative to payday lenders

Twin Cities-based nonprofit Prepare + Prosper and Sunrise Banks will announce Wednesday a multiyear plan to provide thousands of low-income families with an alternative to payday lenders and check-cashing operators.

Measure seeks to enhance foreclosure protections

Rep. Maxine Waters (D-CA), ranking member of the House Committee on Financial Services, introduced Monday a bill designed to bolster aid to homeowners facing foreclosure. Waters said the Homeowner Mortgage Servicing Fairness Act of 2018 would protect homeowners against foreclosure and increase the Federal Housing Finance Agency’s (FHFA) oversight of mortgage servicers that conduct business with Fannie Mae and Freddie Mac.

Execs don’t believe their companies learn the right lessons in cybersecurity

A majority of executives around the world feel their organizations can do better when it comes to learning from their past cyber mistakes, according to the results of a newly released global survey conducted by The Economist Intelligence Unit (EIU) and Willis Towers Watson.

Client Services, Inc. Names New Vice President of Business Development

St. Charles, MO – Client Services, Incorporated (CSI) announced today that Mr. Jamie Campise has joined the company as Vice President of Business Development to further expand their national client base. Jamie Campise comes to CSI with over 30 years of industry experience, having spent the past seventeen years at one of the nation’s largest agencies, where he was instrumental in acquiring numerous business relationships with many of the nation’s largest consumer and commercial credit grantors.

FTC Announces Hearings On Competition and Consumer Protection in the 21st Century

The Federal Trade Commission today announced that the agency will hold a series of public hearings on whether broad-based changes in the economy, evolving business practices, new technologies, or international developments might require adjustments to competition and consumer protection enforcement law, enforcement priorities, and policy. The multi-day, multi-part hearings, which will take place this fall and winter, will be similar in form and structure to the FTC’s 1995 “Global Competition and Innovation Hearings” under the leadership of then-Chairman Robert Pitofsky.

National Law Review: District Court Gives Narrow, Reasonable Scope to TCPA

In March of this year, we told you that the D.C. Circuit Court of Appeals issued a decision in ACA Int’l. v. FCC, wherein the court set aside two FCC interpretations of the Telephone Consumer Protection Act, or TCPA. Specifically, the court ruled that the FCC’s interpretation as to what constitutes an autodialer under the TCPA was unreasonably expansive, and that the FCC’s treatment of reassigned numbers was also overly broad.

Report: Millennials value happiness, more than career

WILMINGTON, Del., June 20, 2018 (GLOBE NEWSWIRE) -- Fewer than 1 in 10 millennials identify their career as their top priority, according to a newly released special report from Navient’s Money Under 35 national study, conducted with Ipsos. The research finds young adults, ages 22 to 35, are more likely to say that just being happy or spending time with family is "most important" to them.

Major Regional Banks Stock Outlook: Plenty of Growth Left

Rising interest rates and modest growth in loans and deposits should drive further momentum in U.S. bank stocks, which have been grossly outperforming the broader market over the past two years. Particularly, the prospects for major regional banks look bright in the near term as their scale will help them benefit more from a steadily improving domestic economy and the impending easing of regulations.

Banco BPM ready to sell debt collection unit if all bad loans bid for – CEO to paper

MILAN (Reuters) – Italy’s Banco BPM is willing to sell its debt collection unit if suitors bid for nearly all of the bad loans it has put up for sale, its Chief Executive said on Wednesday in an interview with an Italian paper.

Trump Taps Kraninger to Replace Mulvaney at CFPB

Less than a week before a deadline that would have forced current Consumer Financial Protection Bureau acting director Mick Mulvaney to leave his post, President Trump formally nominated a candidate to replace him.

PayThink As breaches mount, PCI standards have never been more important

PCI standards continue to evolve, protecting against data thieves and ensuring merchants continue to have a healthy bottom line. Any organization that accepts, stores, processes or transmits cardholder data as part of authorization or settlement is required to host data securely and maintain PCI compliance. PCI compliance is not something to take lightly, as the future of a business could depend on it.

WebRecon Stats for May 2018: Get back to where you once belonged.

After an April of across-the-board drops in consumer complaint activity, May 2018 saw a bit of a rebound in every category except for CFPB complaints. But give those a week or two for the stragglers to come in, and we suspect those will be up as well.

Lawmakers Request FCC to Rescind Rule that Excludes Government Contractors from TCPA

A bipartisan, bicameral group of lawmakers is calling on the Federal Communications Commission to ignore a Congressional directive in the Bipartisan Budget Act of 2015.

Bureau Acting Director Mulvaney Statement on Nomination of Kathy Kraninger

WASHINGTON, D.C. – Today, Bureau of Consumer Financial Protection (Bureau) Acting Director Mick Mulvaney issued the following statement in support of the nomination of Kathy Kraninger to be Director of the Bureau:

CallMiner Introduces Consolidated Platform for Real-Time and After-Contact Customer Engagement with New Analytics Modules

CallMiner, the leading platform provider of award-winning speech and customer engagement analytics, announced today at Customer Contact Week 2018 the launch of its comprehensive CallMiner Eureka platform and new analytics modules: Analyze, Coach, API, Redact, and Alert. Powered by the Eureka data mining engine, the new modules are built to meet the full range of customer intelligence needs from real-time to post-contact analysis.

States Update Data Breach Notification Laws with Stricter Definitions and Requirements

A growing number of states are implementing or amending data breach notification laws, the latest being Colorado, Louisiana and Vermont, The National Law Review reports .

FTC, BBB, and Law Enforcement Partners Announce Results of Operation Main Street: Stopping Small Business Scams Law Enforcement and Education Initiative

Today, the Federal Trade Commission, jointly with the offices of eight state Attorneys General, the New York Division of the U.S. Postal Inspection Service, two U.S. Attorneys’ Offices and the Better Business Bureau (BBB), announced the results of Operation Main Street: Stopping Small Business Scams, a law enforcement initiative targeting operations seeking to defraud small businesses, and an education outreach effort to help small businesses protect themselves from fraud.

Berger urges CFPB action to aid CUs’ S. 2155 compliance

NAFCU President and CEO Dan Berger shared a list of recommended regulatory actions with CFPB Acting Director Mick Mulvaney in a hand-delivered letter Thursday that should be pursued in light of the recent enactment of the NAFCU-backed Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155).

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FTC to Host Workshop in Chicago on Cryptocurrency Scams

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ACA International Convention & Expo 2018

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National Association of Chapter 13 Trustees Annual Seminar

National Association of Chapter 13 Trustees

RMA’s Executive Summit

Receivables Management Association International (RMA)

Debt Connection Symposium & Expo 2018

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Auto Finance Summit 2018

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LendIt Fintech Europe 2018

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Collection & Recovery Solutions 2019

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