Articles

Massachusetts Consumer Data Privacy Bill Could Dramatically Expand Class Action Litigation Risk

Earlier this year, Massachusetts state senators introduced a consumer data privacy bill with a private right of action that could become the broadest in the country. The proposed law, An Act Relative to Consumer Data Privacy (S.120) would create a new category of litigation in local, state, and federal courts against businesses that collect personal information from Massachusetts consumers.

Regulators Should Rescind ‘Small-Dollar’ Loan Rule

The Consumer Financial Protection Bureau is one of the most controversial regulators in Washington, D.C. Since its founding in 2010 under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the bureau has faced relentless scrutiny for its unconstitutional structure, reckless spending, aggressive enforcement activity, and flawed rulemakings, to name a few.
Critics have pointed out time and again the dire need for wholesale reform at the bureau. Fortunately, there is no better time than now. In late 2018, the Senate confirmed Kathleen Kraninger to head the bureau for a five-year term. With a new, permanent director installed, Kraninger has a unique opportunity to champion wide-ranging reforms, including everything from rulemakings to hiring practices.

DEBT CONNECTION SYMPOSIUM AND EXPO 2019 SEPTEMBER 10-12, 2019 AT RED ROCK HOTEL, LAS VEGAS, NEVADA

Dennis and Judy Hammond present Debt Connection Symposium and Expo 2019 where collection compliance takes center stage. An exciting concept in conferences – focusing on oversight, education, networking and connecting with clients, service providers, product suppliers, agencies and attorneys. Whether you are a Creditor, Debt Buyer, Collection Agency, Attorney or Industry Vendor, from the compliance, operations or relationship management side of the business, Debt Connection Symposium and Expo will provide you a high quality conference experience with a solid lineup of opportunities for your educational and networking needs.

With collections, compliance and accountability as our educational focus, we a take a fresh look at the operational decisions affecting our company’s goals, whether it impacts the protection of the consumer, the brand, or the company’s performance and continued existence.  Success and achievement are a combination of knowledge, relationships and action. These principles will be examined throughout the conference.

Ransomware Not Gone but More Targeted, Report Says

Cyber-criminals continue to grow more sophisticated, developing advanced attack methods, including tailored ransomware, according to the Q1 Global Threat Landscape Report, published today by Fortinet. In addition to targeted attacks, criminals are also using custom coding, living-off-the-land (LotL) and sharing infrastructure to maximize their opportunities, the report said. Despite a decline in previous high rates of ransomware, ransomware itself is far from gone. Instead, cyber-criminals are using more targeted attacks. Ransomware “is being customized for high-value targets and to give the attacker privileged access to the network. LockerGoga is an example of a targeted ransomware conducted in a multi-stage attack. There is little about LockerGoga that sets it apart from other ransomware in terms of functional sophistication, but while most ransomware tools use some level of obfuscation to avoid detection, there was little of it used when analyzed,” the report said.

AFCC Debt Settlement Market 2019 Study Offers in-Depth Analysis and Insights Forecasts by Focusing on Top company analysis- Rescue One Financial, Freedom Debt Relief, Pacific Debt, Accredited Debt Relief, CuraDebt Systems, Guardian Debt Relief

AFCC Debt Settlement Market Research Report 2019 revises in-depth Research of the Market condition and the competitive analysis globally. It Analyses the main factors of the AFCC Debt Settlement market based on Current Market situations, size, growth, share, segments, manufacturers, business overview and AFCC Debt Settlement scenario during the forecast period (2019-2025).

Attorney General Josh Stein Gets Temporary Restraining Order Against Out-Of-State Payday Lender

RALEIGH, NC (May 21, 2019) — Attorney General Josh Stein was granted a temporary restraining order against the Miami, Fla.-based online payday lender Approved Financial, Inc. in a case he filed on May 15, 2019. The case alleges illegal, unlicensed lending practices, usury, unlawful debt collection, and unfair and deceptive practices. The temporary restraining order, entered by Superior Court Judge Stephen R. Futrell, prevents Approved Financial from soliciting, making, or collecting on loans to North Carolina consumers, and repossessing or selling their vehicles for the next 35 days until a preliminary injunction hearing.

How proposed robocall rule could impact CUs in Compliance Blog

NAFCU Regulatory Affairs Counsel Mahlet Makonnen provides an update on the Federal Communications Commission’s (FCC) declaratory ruling related to robocalls to resolve call-blocking uncertainty in the latest Compliance Blog post.   Makonnen flags that on June 6, the FCC will consider a declaratory ruling and Third Further Notice of Proposed Rulemaking (TFNPR) that would allow both voice service providers to automatically block suspected robocalls unless a consumer opts out.

Merkley intros bill to protect patients’ credit scores

WASHINGTON – Sen. Jeff Merkley, D-Ore., introduced legislation, the Medical Debt Relief Act of 2019, on Tuesday, saying he wants to make sure Americans’ credit scores are not left in ruin simply because they had the misfortune of needing costly medical care.

The Medical Debt Relief Act is cosponsored by Sens. Richard Blumenthal (D-CT), Elizabeth Warren (D-MA), Bob Menendez (D-NJ), and Dick Durbin (D-IL).

Allied Wallet Settles With FTC Over Fraudulent Payment Allegations

PayThink Fed should step aside on real-time payments

Beyond its monetary policy and bank supervisory functions, many would be surprised to learn the Federal Reserve has a third role: operating, oddly enough, revenue-generating payments services that compete with private-sector systems.