Bureau of Consumer Financial Protection Settles With Security Group, Inc.

WASHINGTON, D.C. — Today the Bureau of Consumer Financial Protection (Bureau) announced a settlement with Security Group Inc., a South Carolina corporation, and its subsidiaries, Security Finance Corporation of Spartanburg and Professional Financial Services Corp.

As described in the consent order, the Bureau found that the Security Group entities violated the Consumer Financial Protection Act by making improper in-person and telephonic collection attempts on consumer installment loans and retail sales installment contracts. The Bureau found that these improper attempts included physically preventing consumers from leaving their homes and visiting and calling consumers’ places of work while knowing that those contacts could endanger the consumers’ employment. The Bureau also found that the Security Group entities violated the Fair Credit Reporting Act by regularly furnishing inaccurate and incomplete information about consumers to credit reporting agencies.

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LendingTree Completes Acquisition of Ovation Credit Services

On May 11, 2018, LendingTree announced a definitive agreement to acquire Ovation Credit Services. Ovation Credit Services utilizes a proprietary software application that facilitates the credit repair process and is integrated directly with certain credit bureaus while educating consumers on credit improvement via ongoing outreach with Ovation case advisors. The proprietary software application offers consumers a simple, streamlined process to identify, dispute, and correct inaccuracies within their credit reports.

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Shulman v. American Medical Collection Agency d/b/a AMCA

“AMCA Collection” is a fair sized collection agengy. Decent chance you have come across then if you have any medical debt,

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CFPB wins $21 mln default judgment from Maryland debt relief firm

A federal judge in Baltimore has ordered a Maryland debt relief firm that claimed to be linked to the U.S. government to pay a $21 million default judgment after the company failed to respond to an enforcement action against it.

In a decision on Tuesday, U.S. District Judge George Russell also permanently banned the company, Federal Debt Assistance Association (FDAA), and its owners from offering debt relief or credit repair services in the future.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2s66HVi

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LendingTree Study

The Consumers of this Nation are active working to improve their credit scores everywhere

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LendingTree, Inc. Announces Agreement to Acquire Ovation Credit Services

CHARLOTTE, N.C., May 11, 2018 /PRNewswire/ — LendingTree, Inc. (NASDAQ:  TREE) announced today that it has entered into a definitive agreement to acquire Ovation Credit Services, Inc., a leading provider of credit services with a strong customer service reputation.  Ovation Credit Services utilizes a proprietary software application that facilitates the credit repair process and is integrated directly with certain credit bureaus while educating consumers on credit improvement via ongoing outreach with Ovation case advisors.

LendingTree Logo. (PRNewsfoto/LendingTree, Inc.)

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House Committee Approves Legislation to Amend FDCPA and Regulations of Debt Collection Attorneys

“as “”anti-collection agency abuse”” and I am, I actually don’t disagree with this, in spirit.  Attorneys, if specifically engaged in the practice of “litigation activities” should not have to adhere to the FDCPA.  If im understanding this correctly, that would not include Attorneys who are simply attempting to collect debts, and those practices would fall under the FDCPs guidelines.  I am interested to see how this plays out”

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