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Friday, October 27, 2017
This Week Articles:
AG PAXTON FILES AMICUS BRIEF CHALLENGING THE CONSTITUTIONALITY OF THE CONSUMER FINANCIAL PROTECTION BUREAU
Leading a coalition of 12 states, Attorney General Ken Paxton today filed a friend-of-the-court brief with the U.S. District Court for the Northern District of Texas challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB) and its Arbitration Rule. The U.S. Chamber of Commerce, along with several Texas-based business organizations, sued the CFPB to block the rule from taking effect.
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A 50-STATE LOOK AT COMPLAINTS ABOUT STUDENT LOANS
Over the past five years, student loan borrowers across the country have turned to us to submit complaints about the struggles they face when repaying their student loans. We have handled more than 50,000 student loan related complaints describing servicing breakdowns, debt collection hurdles, and "debt relief." These complaints help us to recognize and work to stop industry practices that harm consumers and can serve as the first step in a process that halted industry practices harming some of the most vulnerable individuals, saved hundreds of millions of dollars for tens of thousands of student loan borrowers, and strengthened aspects of the student loan repayment process to protect millions of consumers.
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EDUCATION SECRETARY DELAYS STUDENT LOAN BORROWER DEFENSE RULES
Once again, the U.S. Department of Education (DOE) delayed implementation of student loan borrower defense rules so that officials could write new regulations, according to CNBC.
read more

FTC OBTAINS SETTLEMENTS FROM OPERATORS OF TECH SUPPORT SCAMS
The operators of two tech support scams have agreed to settle Federal Trade Commission charges that they tricked consumers into believing their computers were infected with viruses and malware, and then charged them hundreds of dollars for unnecessary repairs.
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WHY CONGRESS SHOULD BLOCK THE CFPB PAYDAY LOAN RULE
Republicans have been looking for a political win for a while. They finally got one this week by overturning the Consumer Financial Protection Bureau's (CFPB) disastrous arbitration rule, which sought to bar financial companies from using private arbitration over class-action lawsuits-despite the fact that the CFPB's own study confirmed that private arbitration is better for consumers.
read more

SENATE OVERTURNS NEW RULE ALLOWING CLASS-ACTION SUITS AGAINST BANKS
U.S. consumers are on the verge of losing the right to sue their banks and credit card companies through class-action lawsuits.
read more

REPUBLICANS SECURED THE VOTE AGAINST THE CONSUMER FINANCIAL PROTECTION BUREAU'S RULE AS TIME TO DECIDE ON THE CONGRESSIONAL REVIEW ACT RESOLUTION WAS RUNNING OUT.
U.S. Senate Republicans, with Vice President Mike Pence casting the tie-breaking vote after a 50-50 vote, overturned the Consumer Financial Protection Bureau's rule to ban class action waivers in arbitration agreements in contracts for consumer financial products Tuesday night.
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ACTING COMPTROLLER OF THE CURRENCY ISSUES STATEMENT REGARDING THE SENATE'S VOTE TO OVERTURN THE CONSUMER FINANCIAL PROTECTION BUREAU'S RULE ON ARBITRATION AGREEMENTS
WASHINGTON- Acting Comptroller of the Currency Keith A. Noreika issued the following statement following the vote by the U.S. Senate to overturn the Consumer Financial Protection Bureau's rule on arbitration agreements:
read more

U.S. FINANCIAL INSTITUTIONS REMAIN HIGHLY SUSCEPTIBLE TO HACKERS
NEW YORK, Oct. 24, 2017 /PRNewswire/ -- SecurityScorecard, the leader in security ratings, today released its 2017 Financial Cybersecurity Report. This comprehensive analysis explores cybersecurity vulnerabilities across 2,924 U.S. financial institutions including FDIC-insured banks, credit unions, investment banks, and other financial firms and compared results to other sectors. The financial industry placed third in cybersecurity performance out of 18 of the U.S. economy's primary industries.
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ALL 5 FCC COMMISSIONERS TO TESTIFY BEFORE HOUSE SUBCOMMITTEE ON COMMUNICATIONS AND TECHNOLOGY
The U.S. House Subcommittee on Communications and Technology has invited the five commissioners with the Federal Communications Commission, including Chairman Ajit Pai to testify Wednesday during a hearing to discuss draft legislation to reauthorize and reform the FCC, among other topics. The hearing will mark the first time all five current FCC commissioners testify before Congress.
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AG PAXTON JOINS 25-STATE BIPARTISAN COALITION CALLING ON EDUCATION SECRETARY TO PRESERVE STATES' OVERSIGHT OF STUDENT LOAN INDUSTRY
Joining a bipartisan coalition of 25 states, Attorney General Ken Paxton today called on U.S. Secretary of Education Betsy DeVos to reject a campaign by student loan servicers and debt collectors to dismantle state oversight of the student loan industry. In recent years, Texas and other states investigated and prosecuted a number of student loan industry abuses, winning settlements in the tens of millions of dollars for vulnerable student borrowers.
read more

DebtConnection.com is a searchable database of collection products and services.
The following Updates and New Entries occured since the last At A Glance was sent:
Portfolios For Sale
$2,331,880.00     Retail
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8041  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$1,275,515.00     Payday Loans
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8043  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$1,377,276.00     Mortgage
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8042  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$56,517,496.00     Medical
Capital Debt Solutions, LLC
http://www.debtconnection.com/portfolio.asp?8049  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?6301  

$448,281.00     Checks
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8048  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$3,090,773.00     Consumer Loans
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8047  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$489,382.00     Payday Loans
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8046  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$1,596,784.00     Payday Loans
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8045  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$2,052,971.00     Retail
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8044  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$4,607,872.00     Credit Cards
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8040  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$559,638.00     Retail
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8039  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

Brokers
BDO FINANCIAL LLC
Brian Williams
469-337-1427
More Information

Debt Buyers
BDO FINANCIAL LLC
469-337-1427

Industry Events
ACA International Fall Forum & Expo 2017
ACA International
Loews Chicago
Chicago, IL
November 1 - 3, 2017
More Information

NASP 2017 Annual Conference
J.W. Marriott
Austin, TX
November 5 - 8, 2017
More Information

Collection and Recovery Solutions 2018
Four Seasons Las Vegas
Las Vegas, NV
May 9 - 11, 2018
More Information

Debt Connection Symposium & Expo 2018
JW Marriott Austin
Austin, TX
September 5 - 7, 2018
More Information

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