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Wednesday, February 7, 2018
Mid Weeks Articles:
GLASS MOUNTAIN CAPITAL JOINS WITH MALCOLM S. GERALD AND ASSOCIATES TO CREATE CUTTING-EDGE ACCOUNTS RECEIVABLE COMPANY
Chicago, Illinois - The principals of Glass Mountain Capital, a leader in the financial services industry, have purchased a majority stake in accounts receivable powerhouse Malcolm S. Gerald and Associates, both companies announced today.
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CEI COALITION URGES CONGRESS TO STOP CFPB RULE CURTAILING SHORT-TERM CONSUMER LOANS
Today, 23 free market groups led by the Competitive Enterprise Institute (CEI) sent a letter to Congress asking lawmakers to stop the Consumer Financial Protection Bureau's (CFPB) rule against short-term "payday" loans.
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FTC URGED TO WIDEN EQUIFAX DATA BREACH INVESTIGATION AMID CONCERNS OVER CFPB PROBE
The Federal Trade Commission (FTC) is being asked to ramp up its investigation into last year's Equifax breach after the Trump administration reportedly reined in a similar probe initiated by the Consumer Financial Protection Bureau (CFPB).
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APPLE PAY ADDS 26 MORE BANKS AND CREDIT UNIONS IN THE US
While Apple Pay works with nearly all of the major banks across the United States, there are still plenty of regional banks and credit unions with customers waiting for Apple Pay to work with their institution. The latest expansion includes several additional banks across the US.
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COMPTROLLER STATEMENT ON MEETING WITH THE ACTING DIRECTOR OF THE CFPB
WASHINGTON-Comptroller of the Currency Joseph M. Otting today issued the following statement after meeting with Mick Mulvaney, Office of Management and Budget Director and Acting Director of the Consumer Financial Protection Bureau (CFPB).
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CFPB ACTING DIRECTOR ANNOUNCES CHIEF OF STAFF
Washington, D.C. - The Consumer Financial Protection Bureau's Acting Director Mick Mulvaney announced today that he has named Kirsten Sutton Mork chief of staff for the agency. Ms. Sutton Mork has been serving as staff director of the House Financial Services Committee under Chairman Jeb Hensarling.
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NAFCU PROMOTES CONSUMER MORTGAGE CHOICE BILL; HOUSE VOTE EXPECTED THIS WEEK
NAFCU, along with 10 other trades representing the financial services and housing industries, wrote to House members Monday urging them to support legislation that would reduce credit unions' and other financial institutions' regulatory burden and increase competition in the mortgage market.
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FTC RELEASES AGENDA FOR PRIVACYCON 2018
The Federal Trade Commission released the final agenda for PrivacyCon 2018, an event that will be held on February 28, 2018, and will highlight research that explores the privacy and security implications of emerging technologies, such as the Internet of Things, artificial intelligence, and virtual reality.
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RALEIGH STARTUP LAUNCHES FIRST STAGE OF DIGITAL BANKING SERVICE FOR CREDIT UNIONS
RALEIGH – Digital banking and financial services for credit unions are a step closer to being available through Amazon Web Services thanks to a Raleigh startup.
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U.S. STATES JOIN FORCES ON FINTECH LICENSES
NEW YORK (Reuters) - Banking regulators of seven U.S. states have agreed to simplify the way financial technology companies can apply for licenses, in a bid to make it easier for businesses to offer their services nationwide.
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ADAPTING THE REGULATORY LANDSCAPE FOR FINTECH REMAINS A CHALLENGE
FinTech firms-a business category that typically applies to lending and other money services that are offered online and are either independent of banks, or work with traditional financial institutions behind the scenes-have become an increasingly prominent fixture in the financial services sector, despite having to deal with a hodgepodge of state-vs.-federal regulations.
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MASSACHUSETTS AG REOPENS INVESTIGATION INTO CREDIT ACCEPTANCE'S ORIGINATIONS, COLLECTIONS
The Massachusetts Attorneys General Office is resurfacing a civil investigative demand made against Credit Acceptance Corp. in December 2014, the company revealed in an Securities and Exchange Commission filing last week.
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MINNESOTA CONSUMER SUES CAPITAL ONE OVER 128 BILL COLLECTOR ROBOCALLS TO CELLULAR PHONE
Chaska, MNBy the middle of 2017, after more than 128 bill collector harassment calls Kristie Drigger had had enough. She sued Capital One Bank in Minnesota District Court, seeking at least $1,500 per telephone call made in violation of the Telephone Consumer Protection Act (TCPA).
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CFPB UNDER MICK MULVANEY REPORTEDLY GOING SLOW ON EQUIFAX PROBE
The Consumer Financial Protection Bureau investigation into the hack at Equifax that exposed personal data about 143 million Americans has reportedly sputtered.
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STIRLING CAPITAL MANAGEMENT TO BECOME STIRLING CAPITAL ADVISORS
West Palm Beach, FL - Stirling Capital Management, LLC formally announced this week that the company will officially be changing its name to Stirling Capital Advisors.
read more

HOUSE SUBCOMMITTEE EXAMINES FINTECH
The House Subcommittee on Financial Institutions and Consumer Credit is continuing its discussion of the financial technology marketplace in an effort to understand how to properly regulate the industry while ensuring companies are able to operate and offer innovative products to consumers.
read more

HOUSE SUBCOMMITTEE EXAMINES FINTECH
The House Subcommittee on Financial Institutions and Consumer Credit is continuing its discussion of the financial technology marketplace in an effort to understand how to properly regulate the industry while ensuring companies are able to operate and offer innovative products to consumers.
read more

TWO MAINE CREDIT UNIONS SEEK MERGER
York County Federal Credit Union of Sanford and Atlantic Federal Credit Union of Brunswick have decided to pursue a merger of equals.
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ANKS EASE STANDARDS ON BUSINESS LOANS IN FOURTH QUARTER, BUT DEMAND STAYS FLAT
The numbers: The Federal Reserve's senior loan-officer survey for the fourth quarter painted a mixed picture, with banks loosening standards on business loans but tightening them on commercial real-estate loans. Standards for consumer loans and residential mortgages were roughly unchanged.
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FTC STAFF PERSPECTIVE EXAMINES KEY FINANCIAL ISSUES THAT AFFECT MILITARY CONSUMERS
A new Staff Perspective, a paper by the Federal Trade Commission's Bureau of Consumer Protection, examines financial issues that can affect military consumers, including servicemembers, veterans, and their families, when they are purchasing and financing a car, dealing with debt collectors, or making credit decisions, as well as their legal rights and remedies, and strategies to promote financial literacy and capability.
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STUDY RANKS SWEDEN TOP COUNTRY FOR DEBT COLLECTION, MIDDLE EAST MOST COMPLICATED
Insolvency proceedings cited as top factor affecting ease of debt collection, says Euler Hermes
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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
$2,048,000.00     Consumer Loans
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8156  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$738,000.00     Credit Cards
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8155  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$593,945.00     Consumer Loans
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8154  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$3,383,000.00     Payday Loans
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8153  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$3,353,611.00     Payday Loans
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8152  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$2,653,420.00     Retail
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8151  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$950,779.00     Retail
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8150  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$471,643.00     Checks
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8149  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$5,795,992.00     Credit Cards
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8148  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$643,696.00     Credit Cards
CSC Portfolio Management
http://www.debtconnection.com/portfolio.asp?8147  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?8199  

$63,387,420.00     Credit Cards
National Debt Holdings, LLC
http://www.debtconnection.com/portfolio.asp?8145  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?6735  

$1,388,062.00     Payday Loans
National Debt Holdings, LLC
http://www.debtconnection.com/portfolio.asp?8144  
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?6735  

Industry Events
Receivables Management Association International 21st Annual Conference
Receivables Management Association International (RMA)
Aria Resort & Casino
Las Vegas, NV
February 6 - 8, 2018
More Information


PrivacyCon 2018
Federal Trade Commission
CONSTITUTION CENTER
Washington, DC
February 28, 2018
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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