At a glanceWednesday, May 02, 2018

Collection Industry At A Glance - 05/02/2018
Wednesday, May 2 2018
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Auto Loan Interest Rates Sustain Post-Recession Highs in April, According to Edmunds Analysis

SANTA MONICA, Calif., May 1, 2018 /PRNewswire/ -- In April, interest rates on new vehicle loans remained at elevated levels not seen since before the 2009 recession. According to the analysts at Edmunds, the annual percentage rate (APR) on new financed vehicles averaged 5.6 percent in April, marking the third straight month rates soared above five percent. This compares to an average APR of 5 percent in April 2017 and 4.2 percent in April 2013.

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PenFed Foundation is honoring our nation’s defenders who work so hard to ensure our freedom. Join us in celebration for those who have served.

TYSONS, Va., May 1, 2018 – On May 2, the PenFed Foundation will host its 14th Annual Night of Heroes Gala, one of Washington’s premier fundraising events for our nation’s defenders. The gala will honor U.S. Army Master Sgt. (Ret.) and Purple Heart recipient Cedric King, who has inspired veterans with his example of perseverance and support for other wounded warriors, and National Baseball Hall of Famer Tony La Russa for his work saving the lives of veterans by providing them with service dogs through his Animal Rescue Foundation’s “Pets for Vets” program. T

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WebRecon Stats for Mar 2018: Strike That, Reverse It

Quick analysis: Sooo…. do you remember in January when we told you that the 4925 CFPB complaints filed that month blew past the previous record of 4648 CFPB complaints filed in March 2017? Well, it has happened again with 5225 complaints filed in March 2018, eclipsing January’s record of 4925.

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Spring 2018 Credit Union Advisory Council meeting in Washington, D.C.

Join the CFPB for a Credit Union Advisory Council (CUAC) meeting in Washington, D.C. about the Home Mortgage Disclosure Act (HMDA) and several of the Bureau's Requests for Information (RFI).

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U.S. House may vote on Dodd-Frank changes in May -majority leader

BEVERLY HILLS, Calif./WASHINGTON, April 30 (Reuters) - The U.S. House of Representatives could vote in May on a bill easing bank rules adopted after the 2007-2009 global financial crisis, a leading Republican lawmaker said on Monday. The comments by Representative Kevin McCarthy, the House majority leader, marked the strongest sign yet a deal could soon be reached between the House and Senate to pass the first rewrite of the 2010 Dodd-Frank financial reform law.

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PCI Group Adds Industry Veteran, Dan Chevalier to Accelerate Business Growth

In support of the company’s continued business expansion, PCI Group announced today that industry veteran, Dan Chevalier, has joined the company as Vice President of Business Development. In this new role, Dan will focus on Fortune 1000 customers in insurance, utilities, telecom and financial services. “Dan brings a wealth of knowledge and a proven track record of successfully implementing solutions for print and mail operations.

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Government Prime Contractor Champion Designation Awarded to ConServe

Rochester, N.Y. – Continental Service Group, Inc., d/b/a ConServe, has been honored by the Monroe County Finger Lakes Procurement Technical Assistance Center (PTAC) as the 2018 Government Prime Contractor Champion for the work they do with small businesses and the opportunities they provide to the special interest group. As part of National Small Business Week, ConServe was recognized as an exceptional corporate role-model for their positive economic impact on the region.

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Convoke Named One of Virginia’s Fantastic 50 Companies for 2018

ARLINGTON, Va., April 30, 2018 /PRNewswire/ -- Convoke, a leader in SaaS solutions for the debt collection market, has been named one of Virginia's Fantastic 50 Companies by the Virginia Chamber of Commerce for the second year in a row. Convoke offers a compliance and management hub that enables credit issuers to comply with regulatory and internal requirements and manage and monitor debt collection activities for all third-parties.

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Bureau Acting Director Announces Chief Communications Officer and Spokesperson

WASHINGTON, D.C. — As of Monday, April 30, 2018, John Czwartacki has transitioned from the Office of Management and Budget (OMB) to the Bureau of Consumer Financial Protection (BCFP) as its Chief Communications Officer and Spokesperson. His 30 years of experience in public and private sectors will now be applied full time at the Bureau as it fulfills its statutory mission.

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Mobile Phone Maker BLU Reaches Settlement with FTC over Deceptive Privacy and Data Security Claims

Mobile phone manufacturer BLU Products, Inc. and its co-owner have reached a settlement with the Federal Trade Commission over allegations that the company allowed a China-based third-party service provider to collect detailed personal information about consumers, such as text message contents and real-time location information, without their knowledge or consent despite promises by the company that it would keep such information secure and private.

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Wells Fargo Contributes $190,000 for Affordable Las Vegas Valley Housing

LAS VEGAS – Wells Fargo & Company (NYSE: WFC) today announced a total of $190,000 in donations for three local nonprofits for affordable and transitional housing in Las Vegas. The Wells Fargo grants are intended to support neighborhood revitalization efforts through the Wells Fargo NeighborhoodLIFT® program and from the Wells Fargo Housing Foundation.

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The Consumer Complaints Database That Could Disappear From View

When a consumer has a complaint about a bank, whether it's dealing with a mortgage or a credit card, right now there's a place to lodge that complaint online.

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Student loans: Court fight looms over debts of former Corinthian Colleges students

Thousands of former Corinthian Colleges students face a potentially pivotal court hearing Monday in a battle to erase millions of dollars in loan debt for their studies at the scandal-scarred, for-profit schools.

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Leading Coalition of 16 AGs, Attorney General Becerra Urges Trump Administration Not to Weaken CFPB’s Investigative Authority

SACRAMENTO – California Attorney General Xavier Becerra, leading a coalition of 16 Attorneys General, called on the Trump Administration to respect the Consumer Financial Protection Bureau’s (CFPB) investigative authority. Since its inception, the CFPB has issued civil investigative demands to companies and individuals who may be violating the law and taking advantage of consumers. Civil investigative demands are a critical law enforcement tool that enable the CFPB to carry out investigations by obtaining documents, financial records, and company policies and procedures. However, the Trump Administration is now considering weakening the CFPB’s use of civil investigative demands.

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PayPal CEO urges credit unions to re-examine value proposition

ST. LOUIS—According to PayPal CEO Dan Schulman, the financial service industry is likely to change more in the next 10 years than it has in the last 70 years. Schulman offered that prediction during a keynote speech on the second day of PSCU’s 2018 Member Forum here — at least his second time addressing a credit union audience in less than a year — and he emphasized that financial institutions have an opportunity to improve consumers lives as the world gets smaller and technology improves.

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Encore Capital Group Teams Up with Habitat for Humanity for Largest-Ever Global Volunteer Day

SAN DIEGO, April 26, 2018 — Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced it will hold its sixth annual Global Volunteer Day on Saturday, April 28. Activities will take place in 16 locations around the world, including the company’s U.S., India, and Costa Rica locations and, for the first time, its wholly owned subsidiaries, Baycorp, Lucania Gestión and Grove.

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Bob Deter Joins Crown Asset Management, LLC as Director of Business Development.

Duluth, Georgia – Crown Asset Management, LLC a Georgia based purchaser of distressed consumer accounts receivable is pleased to announce that Bob Deter is joining Crown Asset as Director of Business Development. Bob brings 30 years of Accounts Receivables Management experience having served in senior management roles with a credit issuer, with a debt purchaser and with a third-party collection firm. Bob’s experience incorporates 17 years with Discover Card, including his role in managing Discover’s former debt sales program. After leaving Discover, he served as an EVP of Acquisitions and Business Development in the debt purchasing sector and then as the VP of Compliance with a third-party collection agency. “I am very excited to get back into the debt purchasing arena. Brian Williams and the Crown Asset Management team have built a strong and well-respected company that is well positioned for continued strategic growth in a rapidly changing marketplace. CEO

Portfolios For Sale

$33,000,000 Retail
Premier Asset Management, LLC

(605) 999-3249

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Profiles

Agency

Optio Solutions, LLC

(800) 360-2827

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Debt Buyer

Assurance Financial Recovery

(713) 389-6651

Icon Equities, LLC

(877) 622-3990

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Skip Tracing

LexisNexis Risk Solutions

(800) 869-0751

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