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21st Annual Financial Services Collections & Operational Risk Conference
October 21-23, 2013
Swissotel, Chicago, IL
Today in Collections
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Lawsuits Against Industry Firms Rise in Three Key Categories
Collections & Credit Risk | May 23, 2013Fair Debt Collection Practices Act lawsuits filed against collection agencies and creditors posted large gains on a month-to-month basis as well as compared with a year ago, a reversal of last year's trend.
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Washington, D.C. Has Highest Student Loan Concentration
Collections & Credit Risk | May 23, 2013A new Federal Reserve Bank of New York report shows that Washington, D.C. has the highest concentration of consumers with active student loan debt in the U.S.
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CFPB Creates Framework to Better Coordinate with State Regulators
Collections & Credit Risk | May 22, 2013The Consumer Financial Protection Bureau is expanding efforts to coordinate with state bank and nonbank regulators on supervision and enforcement.
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Genesys Acquires SoundBite Communications
Collections & Credit Risk | May 21, 2013Genesys, a provider of customer engagement and contact center services, has announced plans to acquire SoundBite Communications for a price of $5.00 per share.
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Consumer Borrowing at Five-Year High
Collections & Credit Risk | May 22, 2013New consumer borrowing reached a five-year high in the first two months of the year, with new credit up more than 33% from 2010 lows, according to credit reporting agency Equifax.
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Bill Creating State Collection Department Gains Traction
Collections & Credit Risk | May 21, 2013Louisiana Rep. Chris Broadwater on Monday presented a bill to the Senate Revenue and Fiscal Affairs Committee to create a centralized collection department.
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FTC Looks to Strengthen Telemarketing Sales Rule
Collections & Credit Risk | May 22, 2013The Federal Trade Commission announced Tuesday plans to ban the use of four payment methods favored by con artists and scammers.
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States Review Bad Check Enforcement Tactics
Collections & Credit Risk | May 21, 2013The Oregon Senate has passed a bill banning private collection companies from using official government letterhead - namely that of district attorneys - to threaten bad check writers with jail.
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Late Payments, Average Credit Card Debt Fall in Q1
Collections & Credit Risk | May 21, 2013The rate of credit card payments at least 90 days overdue fell to 0.69% in the first quarter ended March 31 from 0.85% in the year-ago period, a nearly 19% drop, according to credit reporting agency TransUnion.
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Foreclosure Settlement Complaint Revised Against B of A, Wells
Collections & Credit Risk | May 20, 2013New York Attorney General Eric Schneiderman is revising his allegations of foreclosure settlement violations by Wells Fargo and Bank of America, resetting the clock on his plans to sue the banks over 339 alleged servicing violations.
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Rewards and Risks of the Strategic Defaulter
Collections & Credit Risk | May 13, 2013One of the challenges lingering for financial institutions in the aftermath of the recession is the mysterious strategic defaulter. But are they just an obstacle or possibly an opportunity?
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