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Android ‘API breaking’ vulnerability leaks device data, allows user tracking
A vulnerability has been discovered in the Google Android operating system which could allow cyberattackers to covertly capture Wi-Fi broadcast data in order to track users. On Wednesday, researchers from Nightwatch Cybersecurity said in a security advisory that the bug, CVE-2018-9489, was discovered in the operating system's communication management programming.
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Bureau of Consumer Financial Protection Issues Rule to Implement and Clarify New HMDA Amendments
WASHINGTON, D.C. — Today the Bureau of Consumer Financial Protection (Bureau) issued an interpretive and procedural rule to implement and clarify the requirements of section 104(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), which amended the Home Mortgage Disclosure Act (HMDA). The Bureau also released updates to the Filing Instructions Guide (FIG) for HMDA data collected in 2018 to incorporate the Act as implemented and clarified by the rule issued today.
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DCM Services celebrates 20-year milestone
MINNEAPOLIS — August 24, 2018 — DCM Services (DCMS), the industry leader in estate and specialty account recovery solutions, celebrates 20 years as an organization in 2018.
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Noble Systems Changes the Collections Game with Gamification and Customer Experience Technologies at DCS 2018
Noble Systems Corporation, a global leader in omnichannel contact center technologies, is bringing its game-changing collections technologies for Gamification and Customer Experience (CX) to Debt Connection Symposium, September 5 - 7 in Austin, Texas. Noble specializes in innovative solutions for Contact Center, Workforce Engagement, and Analytics to improve performance and efficiency and drive revenue for collections centers.
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House hopes to tame student loan crisis with financial literacy bill
The House next week will try to fend off a growing pile of student loan debt — now at $1.4 trillion — by passing legislation requiring families to learn more about what it means to borrow tens of thousands of dollars for college.
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STILL TIME TO REGISTER FOR DCS2018
There is still time to register for the Debt Connection Symposium and Expo 2018 conference on September 5-7, 2018, in Austin, Texas. Here’s some highlights: Half-day Skip Session – People Locate and Asset Locate. Auto Finance Peer Group. Millennial Peer Group. Credit Union Peer Group. PWCI. Austin-style – “Meat and Greet” BBQ Poolside Welcome! Ask the Regulators! Great Debate! Best practices in Legal Outsourcing. PowerSports Finance Roundtable. Debt Settlement. Debt Sales Strategies. Prospective Buyer Featured Company Meeting. Machine language and AI’s role in today’s collection operations.
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2017 American Household Credit Card Debt Study
Americans’ total credit card debt continues to climb, reaching an estimated $927 billion — a more than 5% increase from the previous year — according to a NerdWallet analysis. And the average household that’s carrying credit card debt has a balance of $15,482. Households with any kind of debt owe $134,058 (including mortgages), on average, the data analysis found.
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Nevada sees highest US year-over-year credit card debt growth
Xenophon Peters, a founding partner at Las Vegas-based law firm Peters and Associates, has seen a roughly 20 percent increase in bankruptcy filings in the last couple of years. He said a majority of bankruptcy filings in Las Vegas were mortgage-related only 10 years ago, but a new offender has emerged in the valley. Today, more than half the filings Peters sees are related to credit card debt.
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WebRecon Stats for July 2018: Summer Doldrums Continue (for Plaintiffs)
Quick analysis: Quick analysis: Summer Doldrums Continue (for Plaintiffs) With the exception of a minor (+1.6%) bump in FCRA claims, everything was down in July again. FDCPA and TCPA (-6.0%, -2.1% respectively) and CFPB complaints (-7.2%) all continued in their sluggish performance from June.
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TCPA Exemptions for Healthcare Companies
As healthcare companies increasingly rely on mobile delivery platforms and other technologies to communicate with patients about appointments, billing and other issues, the potential for legal exposure under the Telephone Consumer Protection Act (TCPA) also increases. This series provides information to help healthcare companies navigate the TCPA, including...
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Secretary DeVos Announces Emergency Assistance to Institutions of Higher Education
WASHINGTON — U.S. Secretary of Education Betsy DeVos announced today more than $63 million in new federal assistance for 47 institutions of higher education under the Emergency Assistance to Institutions of Higher Education program. The program provides funding to institutions and their students in areas directly affected by Hurricanes Harvey, Irma, or Maria or the 2017 California wildfires.
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Telemarketer Fees to Access the FTC’s National Do Not Call Registry to Increase in 2019
The Federal Trade Commission has announced FY 2019 fees for telemarketers accessing phone numbers on the National Do Not Call Registry. The annual fees will increase slightly from FY 2018 and are set forth in a Federal Register Notice.
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Switchfast: SMB Employees Outperform Managers On Cybersecurity
Follow the leader? When it comes to small business (SMB) cybersecurity, perhaps not. A new report form IT consulting firm Switchfast revealed the mistakes professionals make that expose their firms to cyber risks, with everyone from CEOs to entry-level employees making some missteps. Interestingly, though, in many cases, it’s the business leaders who are performing worse than employees when it comes to protecting business data.
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Private mortgage insurance surges in Q2
Private mortgage insurance continues to surge, seeing a significant increase in new mortgage insurance written in the second quarter. New business volume rose to about $80.3 billion in NIW in the second quarter of 2018, up a full 14% from the second quarter of 2017, according to a report from Moody’s Investor Services. Private mortgage insurance totaled $138.8 billion in the first half of 2018, also up 14% from last year. This represents the first time quarterly new business production has passed $80 billion since 2016, meaning the second quarter of 2018 hit a new post-crisis peak, according to the report.
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Student Loan Watchdog Quits, Says Trump Administration ‘Turned Its Back’ On Borrowers
The federal official in charge of protecting student borrowers from predatory lending practices has stepped down. In a scathing resignation letter, Seth Frotman, who until now was the student loan ombudsman at the Consumer Financial Protection Bureau, says current leadership "has turned its back on young people and their financial futures." The letter was addressed to Mick Mulvaney, the bureau's acting director.
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California Imposes SOL Notice Requirement on Debt Collectors; Bans Legal Action on ‘Time-Barred’ Debt
On Aug. 22, the California legislature passed Assembly Bill 1526, relating to the collection of debt that is beyond the statute of limitations for bringing legal action. Since 2014, debt buyers collecting from California residents have been required by Cal Civ Code § 1788.52(d)(2) to provide one of two notices, as applicable, when a debt is “time-barred.” The new legislation creates the same requirement for debt collectors, making it a violation for a debt collector to send a collection letter to a consumer on a time-barred debt without providing the debtor with one of the following written notices, depending on the age of the debt:
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FDIC-Insured Institutions Reported $60.2 Billion in Net Income in the Second Quarter 2018
“The banking industry experienced continued improvement in net interest income, noninterest income and loan performance this quarter. However, the interest-rate environment coupled with competitive lending conditions have led to heightened exposure to interest-rate, liquidity, and credit risks. The industry must continue to position itself to be resilient through economic cycles.”
-- FDIC Chairman Jelena McWilliams
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BillingTree’s Financial Services survey reveals customer retention, payment technology and software integration as top priorities
Phoenix, Ariz. – August 24, 2018 BillingTree®, the leading payment technology provider, today announced the key findings of its 2018 Financial Services Operations and Technology Survey. The results from participants at small to large credit unions, banks and auto financiers show continued plans to adopt mobile and automated payment technologies, including payment via mobile apps, text, and interactive voice response (IVR).
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Alternative Lenders to Gain Greater Predictive Power with TransUnion CreditVision Link Short-Term Risk Score
The opportunity for alternative credit and small dollar loans remains high with a market size that approaches $40 billion annually. To help these lenders better segment risk in an increasingly competitive market, TransUnion (NYSE: TRU) introduced today the CreditVision Link Short-Term Risk Score.
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T-Mobile discloses data breach of consumer information
T-Mobile revealed it shut down a data breach potentially exposing consumer information such as email addresses and phone numbers. The wireless carrier announced Friday their cybersecurity team had discovered and shut down an unauthorized source's access to information on Aug. 20.
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Produced by Resource Management Services, Inc.
JW Marriott
Austin , TX
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2018 562-906-1101
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Auto Finance News
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3131 S Las Vegas Blvd
Las Vegas , NV
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2018 (212) 564-8972 Option 4
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LendIt Conference LLC.
Business Design Centre
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Ilsington London , England
November 19 -
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2018 (646) 930-6366
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Resource Management Services, Inc.
10440 Pioneer Bl;vd. #2
Santa Fe Springs , CA
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10 ,
2019 562-906-1101
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