At a glanceWednesday, January 15, 2020

Collection Industry News At A Glance - January 15, 2020
Wednesday January 15, 2020
Mid Week Newsletter:
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Get the band back together and have some fun at the “Rockin’ Rollin’ Cosmic Bowling” Competition and Extravaganza Tournament! There’s fun and games for one and all. Join us for a great networking event after a full day of meetings, session, showcases and Expo.  On Wednesday, September 16th, a special bowling tournament and networking reception is being planned for attendees. Make plans to compete with your peers, or against your peers, with your clients, or challenge your clients!

Debt Connection Symposium and Expo 2020 will be held on September 15-17, 2020 at the Red Rock Hotel in Las Vegas, NV.  For more information about Debt Connection Symposium and Expo 2020 please go to

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TCPA Litigation Update — Breaking: U.S. Supreme Court Agrees to Decide Whether TCPA Exception Is Unconstitutional

On January 10, 2020, the U.S. Supreme Court announced that it accepted certiorari of a petition to review the constitutionality of the Telephone Consumer Protection Act. As is customary, the Court did not explain its reasoning for agreeing to hear this case. While the scope of this highly anticipated decision will remain unclear for some time, it is possible that the Court may place the validity of the TCPA itself in question — in addition to the TCPA exception challenged in the petition.

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Visa makes a big bet on fintech with $5.3 billion Plaid acquisition

Visa said on Monday that it would acquire privately held Plaid, a leading financial technology provider, in a deal valued at $5.3 billion. Plaid's platform helps consumers securely connect their financial accounts to the apps they use, while "helping them manage their financial lives," Visa said in a press release.

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Robocalls hit 58.5 billion in 2019, up 22%. Residents in some states get 2 or more daily

The robocalls kept coming in 2019. Americans were hit with 58.5 billion robocalls last year, an increase of 22% from the 47.8 billion received in 2018, according to YouMail, a company that provides a service to block such messages. “We’ve now had well over 100 billion robocalls in the past two years,” said YouMail CEO Alex Quilici in a statement accompanying the report. “It’s no wonder that an anti-robocall bill passed Congress overwhelmingly and was signed by the President on December 31, 2019.” 

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Payday loans, overdraft fees, low-interest credit: New York is trying to overcome barriers to bank accounts

About a quarter of New Yorkers don’t have a bank account or barely use one. Banking is essential for people to fully participate in the economy – to save money, build credit and get ahead. With a new proposal, the state is trying to expand access to banking for people who don’t earn very much money.

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Can California’s mini-CFPB pick up slack left by federal agency?

An effort by California to create a powerful state consumer protection bureau could have a significant impact on banks, debt collectors and other financial firms as Gov. Gavin Newsom seeks to fight against the Trump administration's regulatory rollback.   The new agency, modeled on the federal Consumer Financial Protection Bureau, is being pushed by former CFPB Director Richard Cordray and several other former agency officials. If approved by California's legislature, it would create a new office of innovation within the agency and subject more financial firms to state oversight.

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SAFCO enters military lending following SNAAC acquistion

Fort Lauderdale, FL, (January 13, 2020) – SAFCO, LLC (Southern Auto Finance Company, LLC) is proud to announce its entry into the Military Finance market.  The new venture is a result of SAFCO’s recent purchase of front-end origination assets from SNAAC (Security National Automotive Acceptance Company) consisting of various forms of intellectual properties. The purchase provides SAFCO with the expertise they require to effectively and efficiently process military applications, utilizing their unique and expertly developed technologies.

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Consumer reviews: The FCRA upshot of fighting ire with fire

California-based mortgage broker Mortgage Solutions FCS also does business under the name Mount Diablo Lending. And according to the FTC, the company gave consumers a devil of a time if they posted negative reviews on Yelp. Is your business pondering how to address unfavorable consumer comments? Heaven knows you should avoid Mount Diablo’s approach, which, according to the complaint, violated Regulation P, the Fair Credit Reporting Act, and the FTC Act.

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Four Ways to Achieve a Zero Trust Security Model

Put 2019 in the record books — for cybercrime, that is. According to Risk Based Security, a global leader in vulnerability intelligence, breach data and risk ratings, 2019 was on track to be “the worst year on record” for cybercrime. We’ve seen this to be true in the near constant headlines of ransomware, viruses, trojans and phishing incidents wreaking havoc on businesses of all sizes. These attacks are not only increasing in frequency, but in revenue impact and sophistication. 

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The world is drowning in debt

New York (CNN Business)The world's already huge debt load smashed the record for the highest debt-to-GDP ratio before 2019 was even over. In fact, it broke that record in the first nine months of last year. Global debt, which comprises borrowings from households, governments and companies, grew by $9 trillion to nearly $253 trillion during that period, according to the Institute of International Finance.

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3 strategies to help credit unions compete in 2020

An increasingly competitive and rapidly changing financial services marketplace is putting pressure on traditional lenders to evolve in order to preserve and grow their business, and credit unions are no exception. The competition is getting fierce out there: You have online banks advertising lower cost, higher-yield savings and checking accounts, mobile apps for making payments and transferring funds, a glut of alternative lenders and even major wireless carriers now offering banking services.

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Where have all the CFPB fair-lending cases gone?

Despite assurances by the Consumer Financial Protection Bureau that it is serious about cracking down on fair-lending violations, the dearth of CFPB enforcement actions regarding redlining and other discriminatory practices in two years worries consumer and civil rights advocates. Under Director Kathy Kraninger, the CFPB has filed barely any fair-lending enforcement orders, in sharp contrast to the Obama administration. In the past year, the agency issued only one action related to fair lending, fining Freedom Mortgage $1.75 million for alleged violations of the Home Mortgage Disclosure Act.

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The New Year Brings New Data Breach Laws

Complying with changing state-level privacy laws will be a business priority in 2020. Because the United States does not have a uniform Federal privacy law, a patchwork of state rules based on where customers live poses new challenges to companies in the New Year.   Here are seven (7) data breach updates in 2020 you should know:

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Wells Fargo ordered to pay $102.8M in mobile deposit patent case

Wells Fargo is being ordered to pay $102.8 million in damages after a federal jury in Texas on Friday found the bank infringed on two United Services Automobile Association patents that allow customers to deposit checks using mobile devices.

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VoApps DirectDrop Voicemail is set to exhibiting at the Collection and Recovery Solutions 2020.

VoApps, Inc. will be exhibiting at the Collection and Recovery Solutions 2020. Be sure to stop by and say hi to Neal Jagoda and company at booth 16.

VoApps DirectDrop Voicemail delivers a voice message directly to the consumer’s voicemail box without calling the phone. Immediately increase right party contacts, dollars collected, and liquidation rates. Agencies using VoApps deliver thousands of voicemails in a matter of minutes. This creates availability for collection agents to field the influx of inbound phone calls responding to DirectDrop Voicemails.  New clients can be up and running in less than two business days!

For more information about VoApps, visit them at

For more information about the Collections and Recovery Solutions conference please visit us at

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Consumer Financial Protection Bureau Issues No-Action Letter to Facilitate Housing Counseling Services for Prospective Home Buyers

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) granted a no-action letter (NAL) to Bank of America, N.A. regarding the bank’s funding arrangements with housing counseling agencies (HCAs) certified by the U.S. Department of Housing and Urban Development (HUD).  NALs provide increased regulatory certainty through a statement that the Bureau will not bring a supervisory or enforcement action against a company for providing a product or service under certain facts and circumstances. The Bureau issued a revised NAL Policy in September 2019, which improved on the Bureau’s 2016 NAL Policy by having, among other things, a more streamlined review process focusing on the consumer benefits and risks of the product or service in question.

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Can California’s mini-CFPB pick up slack left by federal agency?

An effort by California to create a powerful state consumer protection bureau could have a significant impact on banks, debt collectors and other financial firms as Gov. Gavin Newsom seeks to fight against the Trump administration's regulatory rollback. The new agency, modeled on the federal Consumer Financial Protection Bureau, is being pushed by former CFPB Director Richard Cordray and several other former agency officials. If approved by California's legislature, it would create a new office of innovation within the agency and subject more financial firms to state oversight.

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AG James And Superintendent Lacewell To Force Mortgage Company To Return Foreclosed Homes To 58 New York Families

NEW YORK – New York Attorney General Letitia James and New York Superintendent of Financial Services Linda Lacewell today announced an agreement, subject to court approval, with South Carolina-based real estate company Vision Property Management, LLC, its CEO Alex Szkaradek, and a number of affiliated companies for more than $3.75 million in consumer restitution for engaging in and operating an illegal, deceptive, and unlicensed mortgage-lending business that targeted — among others — the disabled, the elderly, single parents, and others living on fixed incomes.

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California reportedly launching its own CFPB

California already has one of the most active state agencies in terms of regulating and (when necessary) punishing the financial services industry: the California Department of Business Oversight. But the state could soon have a financial regulator that rivals the New York Department of Financial Services in terms of clout, reach, and scope. On Friday, California Gov. Gavin Newsom will reportedly unveil a plan for the state to enact its own version of the Consumer Financial Protection Bureau, overhauling and increasing the power of the state’s Department of Business Oversight.

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The cybersecurity arms race

Power in this new, digital world is not only a question simply of who controls the flows of data and information. However, there is an interesting multiplier effect that plays a large role currently in which services are used by which companies (AWS, Google, etc.,) – the organisations who control the most data will have the most powerful processors to make use of it, providing more value and attracting more customers and their data. 

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Banks to tighten third-party data access in 2020, experts say

Several large U.S. banks have recently revamped and tightened their third-party data sharing practices, affecting the way some fintechs conduct business with their customers, and several industry experts say the trend is expected to grow in 2020.

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Changing Court Attitudes on Bankruptcies

A decision this week by a federal judge in New York illustrates how some courts have in the past few years made it easier for people with crippling student loan debt to file for bankruptcy, say consumer advocates and legal experts.  But while advocates like John Rao, a National Consumer Law Center bankruptcy expert, see the trend as positive, they still believe federal laws need to be changed to make it easier to discharge student loans through bankruptcy.

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Join others in the “Millennial Peer Group – Collections & Recovery” at CRS2020

Millennial Peer Group - Collections & Recovery meets at CRS2020
May 6th from 3:30 pm to 4:30 pm
This organized peer network, is an elite network of young professionals in the industry focused on issues of relevance to Millennials. Whether you meet the age requirements of a Millennial, or think like a Millennial, or just have an interest in Millennials – this group can be for you.  Moderated by Matt Justice of Professional Bureau of Collections of Maryland, this break out session provides an opportunity for millennials to discuss issues of importance to millennials!

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Consumer Financial Protection Bureau Announces Action Against Monster Loans, Lend Tech Loans, and Associated Student Loan Debt-Relief Companies

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) filed suit against several companies and individuals involved in offering student loan debt-relief services for allegedly obtaining consumer reports illegally, charging unlawful advance fees, and engaging in deceptive conduct. The Bureau’s action is against a mortgage lender called Chou Team Realty, LLC, which does business as Monster Loans (Monster Loans); an allegedly sham mortgage brokerage called Lend Tech Loans, Inc.; and several student loan debt-relief companies, including Docu Prep Center, Inc., which does business as DocuPrep Center and Certified Document Center; Certified Doc Prep Services, LP; Assure Direct Services, Inc.; Direct Document Solutions, Inc.; Secure Preparation Services, Inc.; and Docs Done Right, Inc.  The Bureau is also taking action against several individuals, including Bilal Abdelfattah, who is also known as Belal Abdelfattah and Bill Abdel; Thomas “Tom” Chou; Sean Cowell; Robert Hoose; Eduardo “Ed” Martinez; Jawad Nesheiwat; Frank Anthony Sebreros; and David Sklar.

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DeVos And Education Dept. Could Face New Sanctions For Violating A Court Order

A federal judge is weighing higher fines for the Education Department after the federal agency disclosed that it pursued scores of additional borrowers for debt collection — violating a court order.   A federal judge is weighing higher fines for the Education Department after the federal agency disclosed that it pursued scores of additional borrowers for debt collection — violating a court order.

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CFPB, Utah’s Attorney General Announce Inaugural Joint Office Hours in Salt Lake City

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) and the Office of the Utah Attorney General announced the first joint office hours to be held as part of the American Consumer Financial Innovation Network (ACFIN). Joint office hours, held as part of ACFIN, provide innovators with the opportunity to discuss issues such as financial technology, innovative products or services, regulatory sandboxes, no action letters, and other matters related to financial innovation with officials from the CFPB and state partners.

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FTC Finalizes Settlement with California Tech Company Related to Privacy Shield

The Federal Trade Commission has finalized a settlement with a California technology company over allegations that it falsely claimed participation in the EU-U.S. Privacy Shield framework, which enables companies to transfer consumer data legally from European Union countries to the United States.

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Over the next several years, U.S. banks are likely to become less relevant in the daily lives of their customers, less central in the economy and less profitable.  The major culprit will be the rapid evolution of technology, which will allow data-savvy bank partners to siphon off a larger share of revenue while relegating the banks to a behind-the-scenes role in customer relationships.

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Bankruptcy case could make it easier to erase student debt

POUGHKEEPSIE — A U.S. Bankruptcy Court judge on Wednesday authored a stunning decision that may make it easier for student loan borrowers to file for bankruptcy. Cecelia G. Morris, chief bankruptcy judge for the Southern District of New York, ruled in favor of Kevin Jared Rosenberg, who sought to erase more than $220,000 in loans accumulated during his undergraduate and law school years.

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$8,028,786.71 Credit Cards
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(617) 595-5794

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Industry Events

RMAi Annual Conference

ARIA Resort & Casino
3730 Las Vegas Boulevard , Las Vegas, NV 89158, US
February 04 - 06 , 2020

Questions about registration or sponsorship? Contact Sylvia Done at or 916-482-2462

The Payments Summit 2020

The Payments Summit

Salt Lake Marriott Downtown at City Creek
75 South West Temple , Salt Lake City, UT 84101, US
February 24 - 27 , 2020


2020 Annual Utilities Credit & Collections Symposium

Conferences By Monticello

Hyatt Regency Coral Gables, Florida
50 Alhambra Plaza , Coral Gables, Florida, United States, 33134
March 02 - 04 , 2020

(843) 277-1620

ACA International 2020 Spring Forum & Expo

ACA International

M Resort Las Vegas
12300 S Las Vegas Blvd , Henderson, NV 89044
March 11 - 13 , 2020

(800) 269-1607

BUMP Collections! Dallas

A "CollectoRMSeries" course by Resource Management Services, Inc.

March 12th BUMP Collections! course to be taught in Dallas, Texas. A June course is expected to be announced for Southern California. An October course is expected to be announced for Atlanta. Call us if you're interested in those courses, and we'll provide info as it is confirmed.

March 12 - 12 , 2020


Commercial Payments International


Hilton Amsterdam
Apollolaan 138, 1077 BG , Amsterdam, Netherlands
March 16 - 17 , 2020

+ 44 207 576 8555

AFCC Spring Conference – 2020

Eden Roc – Miami Beach
4525 Collins Ave , Miami Beach, FL 33140
March 22 - 23 , 2020

NAPCP Commercial Card and Payment Conference: P-Card, Travel Card, ePayables


Caesars Palace, Las Vegas, Nevada
3570 Las Vegas Boulevard South , Las Vegas, NV 89109
April 06 - 09 , 2020

952-546-1880 ext. 4

NCUCA – National Credit Union Collection Alliance 2020

NCUCA National Credit Union Collections Alliance

Bellagio Las Vegas
3600 S Las Vegas Blvd , Las Vegas, NV 89109
April 15 - 17 , 2020

Collection and Recovery Solutions 2020

Collection & Recovery Solutions - produced by Resource Management Services, Inc.

Four Seasons Hotel Las Vegas
3960 Las Vegas Blvd South , Las Vegas, NV 89119, US
May 06 - 08 , 2020


LendIt Fintech USA

Save 15% with our Discount Code: DC15%

Javits Center, New York
New York
May 13 - 14 , 2020

National Association of Chapter 13 Trustees 2020

National Association of Chapter 13 Trustees (NACTT)

Marriott Marquis San Diego Marina
333 W Harbor Dr. , San Diego, CA 92101
July 08 - 11 , 2020


Debt Connection Symposium & Expo 2020

Resource Management Services, Inc.

Red Rock Casino Resort & Spa
11011 W Charleston Blvd , Las Vegas, NV 89135
September 15 - 17 , 2020


Auto finance Summit 2020

Royal Media

Wynn Las Vegas
3131 S Las Vegas Blvd , Las Vegas, NV 89109
October 20 - 22 , 2020

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More information about Debt Connection Symposium
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