Current Industry News
CRS2019 SPECIAL 2 FOR 1 OFFER FOR ORIGINATING CREDITORS ONLY ENDS DECEMBER 31, 2019
Collection and Recovery Solutions 2019 conference, will be held at the Four Seasons Hotel, Las Vegas May 8 – 10, 2019. For originating creditors only, the special 2 for 1 registration offer ends on December 31, 2019.
Registrations will be accepted on a first-come, first-served basis. If you are a senior level creditor involved in collection and recovery, and are interested in receiving an invitation, please contact us at (562) 906-1101 or E-Mail: CRS@resourcemanagement.com. For more information on the Collection and Recovery Solutions 2019 conference, please visit us at www.crs2019.com.
New Head of Watchdog Agency Vows Consumers Will Be Top Focus
WASHINGTON (AP) — The new head of the U.S. consumer watchdog agency says she doesn’t have immediate targets in mind for rolling back actions taken by her controversial predecessor, and will put protecting consumers in the forefront while also encouraging financial innovation. Kathy Kraninger, nominated by President Donald Trump and confirmed by the Senate last week on a narrow, party-line vote, has replaced Mick Mulvaney as director of the Consumer Financial Protection Bureau.
Minnesota attorney general sues tax debt company
ST. PAUL, Minn. (KARE) – Minnesota Attorney General Lori Swanson has filed a lawsuit against a “tax debt relief” company that Swanson said fails to deliver on its promises. The lawsuit claims Wall & Associates, Inc. failed to register in Minnesota and collected advance payments from clients of up to $15,000 before services were fully delivered. “State law prohibits these tax assistance companies from getting paid in advance. If you hire a tax assistance company, number one they have to be licensed. Number two, they’re not supposed to collect any money until they’ve actually helped you,” Swanson said.
Former ITT Tech students get $600M in debt relief from bankruptcy judge
While the bankruptcy fight over failed for-profit educator ITT Educational Services continues, the biggest group involved in the legal battle has scored a big victory. In late November, a federal bankruptcy judge in Indianapolis gave final approval to a $600 million settlement that will affect about 750,000 former students of ITT Technical Institute. The settlement cancels all of the debt those students owed directly to the defunct education chain, which operated 136 campuses in 38 states when Carmel-based parent ITT Educational closed it down in September 2016. The agreement covers student borrowers who attended ITT Tech at any time from 2006 to 2016. It also returns $3 million to students who made loan payments to the school after ITT Educational declared bankruptcy more than two years ago.