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Friday, May 12, 2017
This Weeks Articles:
FDIC ANNOUNCES SETTLEMENT WITH BANK OF LAKE MILLS, FREEDOM STORES, INC., AND MILITARY CREDIT SERVICES, LLC, FOR UNFAIR AND DECEPTIVE PRACTICES
The Federal Deposit Insurance Corporation (FDIC) today announced settlements with Bank of Lake Mills, Lake Mills, Wisconsin, and two of its institution-affiliated parties, Freedom Stores, Inc. and Military Credit Services, LLC (MCS), for unfair and deceptive practices, in violation of Section 5 of the Federal Trade Commission (FTC) Act.
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THE NUMBER OF PEOPLE WITH CREDIT CARDS HAS HIT LEVELS NOT SEEN SINCE BEFORE THE GREAT RECESSION
More than 171 million consumers had access to credit cards backed by major banks and open network card issuers in the first quarter of 2017, according to a report this week from the credit reporting company TransUnion TRU, -0.46% That's the highest number that have had access since 2005, when about 162.5 million people had access.
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U.S. FORECLOSURE ACTIVITY IN APRIL 2017 DROPS TO LOWEST LEVEL SINCE NOVEMBER 2005
IRVINE, Calif., May 11, 2017 /PRNewswire/ -- ATTOM Data Solutions, curator of the nation's largest multi-sourced property database, today released its April 2017 U.S. Foreclosure Market data, which shows foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 77,049 U.S. properties in April, down 7 percent from the previous month and down 23 percent from a year ago to the lowest level since November 2005.
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PRA GROUP REPORTS FIRST QUARTER 2017 RESULTS
NORFOLK, Va., May 09, 2017 (GLOBE NEWSWIRE) -- PRA Group (Nasdaq:PRAA), a global leader in acquiring and collecting nonperforming loans, today reported its financial results for the first quarter of 2017. The company reported diluted earnings per share of $1.03 versus $0.69 in the first quarter of 2016, including the gain from the sale of the Company's Government Services business in the first quarter of 2017.
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CONSUMERS EXPECT HIGHER INCOME GROWTH AND IMPROVED OVERALL FINANCIAL SITUATION, BUT LOWER SPENDING GROWTH
NEW YORK-The April 2017 Survey of Consumer Expectations shows that, while household income growth expectations increased and respondents' outlook of their households' overall financial situation reached a new series high, spending growth expectations dropped sharply to a series low. Inflation expectations increased at both the one- and three-year ahead horizons, while inflation uncertainty declined.
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NOBLE SYSTEMS FOCUSES ON CUSTOMER SERVICE AT ICMI 2017
Atlanta, GA - May 11, 2017: Noble Systems Corporation, a global leader in unified contact center
technology solutions, will be showcasing its industry-leading solutions for Contact Center, Workforce
Management, and Analytics at ICMI's 2017 Contact Center Expo, to be held May 22 - 25, 2017 in Orlando.

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EMPEREON-CONSTAR OPENING NEW CALL CENTER IN GREATER WACO, BRINGING 900 JOBS
Empereon-Constar, a leading provider of end-to-end customer engagement and customer management solutions, announced plans today to open a new inbound call center in Lacy Lakeview, Texas. The move brings 900 full-time customer care, customer service and tech support jobs to the Greater Waco area with an expected annual payroll impact of approximately $20 million.
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FORECLOSURES DOWN, EXCEPT IN 3 STATES
Foreclosure activity still hasn't bottomed out since the crisis. According to the April 2017 Foreclosure Market report, foreclosure actions were down 7 percent from March and 23 percent from April 2016. They've now reached their lowest point since late 2005.
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LATEST CORELOGIC ANALYSIS SHOWS US MORTGAGE LOAN PERFORMANCE HEALTH CONTINUES TO STRENGTHEN
CoreLogic(r) (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 5 percent of mortgages were delinquent by 30 days or more (including those in foreclosure) in February 2017. This represents a 0.5 percentage point decline in the overall delinquency rate compared with February 2016 when it was 5.5 percent.
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WEST VIRGINIA AMENDS DEBT COLLECTION LAWS, EXEMPTING ATTORNEYS AND LEGAL PLEADINGS FROM CONSUMER PROTECTIONS
West Virginia recently enacted Senate Bill 536, which makes some important changes to the state's debt collection laws. One key provision is an amendment to the definition of "debt collector," which exempts attorneys representing creditors, provided that the attorneys are licensed in West Virginia or otherwise authorized to practice law in the state and are handling claims and collections in their own name as an employee, partner, member, shareholder or owner of a law firm and not operating a collection agency under the management of a person who is not a licensed attorney.
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CFPB EXPLORES WAYS TO ASSESS THE AVAILABILITY OF CREDIT FOR SMALL BUSINESS
WASHINGTON, D.C. - The Consumer Financial Protection Bureau today launched an inquiry into ways to gather and use new and existing information to identify the financing needs of small businesses, especially those owned by women and minorities. Small businesses typically need access to credit to take advantage of growth opportunities, yet public information on this lending market is inconsistent and incomplete. The Request for Information asks for public feedback to help the Bureau better understand how to bridge this information gap. The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the CFPB to collect data about small business lending to help identify needs and opportunities in the market and to facilitate enforcement of fair lending laws.
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CONSUMER ACCESS TO CREDIT CARDS GROWS TO HIGHEST LEVEL SINCE 2005 AS MIX OF CARD ISSUERS CHANGES
The number of consumers with access to a credit card at the end of Q1 2017 reached the highest level since 2005, according to TransUnion's (NYSE:TRU) Q1 2017 Industry Insights Report. The report, powered by PramaSM analytics, was released today at Card Forum, a leading conference for card and payment executives.
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DELINQUENCIES, FORECLOSURES FALL OVER YEAR
Delinquencies and foreclosures are both down over the year, according to the February 2017 Loan Performance Insights Report released by CoreLogic on Tuesday. February saw 30-day delinquencies, 90-day delinquencies, and foreclosure inventory drop over 2016's numbers.
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PHILADELPHIA FEDERAL CREDIT UNION (PFCU) IMPROVES AUTO LOAN COLLECTIONS AND RECOVERY WITH DRNSIGHTS, REDUCES REPOS AND CHARGE-OFFS
FORT WORTH, Texas, May 10, 2017 /PRNewswire/ -- Philadelphia Federal Credit Union (PFCU), an early adopter of DRN's enterprise subscription for auto finance, DRNsights, reports more cured loans and fewer charge-offs resulting from improved auto debt collection and recoveries. PFCU uses DRNsights in early stage delinquency to find new locations for making right party contact to collect and cure loans, and also uses the data and analytics at repossession for faster recoveries, saving time and money.
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ATTORNEY GENERAL MADIGAN URGES ILLINOIS SENATE TO PASS STUDENT LOAN BILL OF RIGHTS
Chicago - Attorney General Lisa Madigan today was joined by Senator Daniel Biss, Illinois students and consumer advocates to urge the Illinois Senate to reject pressure from student loan servicers and their lobbyists and pass legislation to help student loan borrowers repay their loans.
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AUSTRALIAN FEDERAL BUDGET 2017: BIG BANKS ANGER AT NEW $6.2 BILLION LEVY
The banking industry has lashed out at the federal government's new multi-billion dollar levy, saying the charge is a direct attack on the economy that will hurt all Australians.
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KEEPING FINTECHS LITIGATION-FREE
In a paper published on Bloomberg BNA on Monday, Buckley Sandler LLP Partner Elizabeth McGinn, Firm Counsel Antonio Reynolds, and Associate Jessica Shannon analyze what fintech firms should be cautious of.
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FEDERAL RESERVE CONSUMER CREDIT
Consumer credit increased at a seasonally adjusted annual rate of 4-1/4 percent during the first quarter. Revolving credit was little changed, while nonrevolving credit increased at an annual rate of 5-3/4 percent. In March, consumer credit increased at an annual rate of 5-1/4 percent.
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NEW FTC WEBSITE HELPS SMALL BUSINESSES AVOID SCAMS AND CYBER ATTACKS
At the direction of Acting Chairman Maureen Ohlhausen, the Federal Trade Commission has launched a new website - ftc.gov/SmallBusiness - with articles, videos, and other information aimed at helping small business owners avoid scams and protect their computers and networks from cyberattacks and other threats.
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HOW THE STUDENT LOAN COLLECTION SYSTEM GROUND TO A HALT
For more than a week, calls to student loan debt collectors have gone unanswered across the country, and pleading, confused voicemails have been ignored. Work shifts have been cancelled, and money slated to pay off loan balances sits in borrowers' bank accounts, untouched.
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DISCOVER NAMED ONE OF THE 2017 BEST COMPANIES IN ARIZONA FOR 2017
PHOENIX--(BUSINESS WIRE)-- Discover has been named one of the 100 Best Arizona Companies by BestCompaniesAZ for 2017. The organization also is recognizing Discover in the "Best of Trailblazers" category, which honors companies that have pioneered and sustained exceptional performance over the past 15 years and represent the best of Arizona businesses.
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THIS IS THE NO. 1 REASON AMERICANS FILE FOR BANKRUPTCY
When we think about consumer debt, we tend to point a finger at folks for whom shopping sprees are a way of life. But the real reason a large number of Americans wind up in financial trouble has nothing to do with self-indulgence or an inability to resist temptation. Rather, it's a matter of medical debt.
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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:
Debt Buyers
ASSET RECOVERY ASSOCIATES
Bruce Cohen
888-409-5060
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CHERRYWOOD ENTERPRISES, LLC
Craig M. Geisler
561-508-7650
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Industry Events
NARCA 2017 Spring Conference
NARCA
JW Marriott Orlando Grande Lakes Orlando, FL
May 17 - 20, 2017
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ICG 2017 Annual Meeting
International Collector's Group
The Ritz Carlton
Montreal, Quebec, Canada
June 18 – 20, 2017
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Collection Management Training
Resource Management Services, Inc.
Residence Inn Atlanta Airport North/Virginia Avenue
Atlanta, GA
June 21 - 22, 2017
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Third Party Vendor Auditing Workshop
Resource Management Services, Inc.
Chicago Marriott Southwest
Chicago, IL
July 19 - 20, 2017
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Debt Connection Symposium and Expo 2017
Resource Management Services, Inc.
JW Marriott Starr Pass
Tucson, AZ
September 11 - 13, 2017
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