May 9, 2019



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Congress is getting ready to criminalize robocalls

In a House Committee hearing on robocalls last week, lawmakers on both sides of the aisle found common ground in their disgust over the current state of affairs.

Joined by four robocall experts representing consumer groups, the telecom industry, a hospital, and an anti-robocall app, lawmakers met to figure out how to tackle the plague of robocalls that has tormented everyone with a mobile phone.

Though the FCC and the private sector have been working on solutions, lawmakers are ready to pick up their swords as well. As Rep. Mike Doyle (D-PA), who led the hearing put it, robocalls are rendering the phone system obsolete.

Patrick Halley of USTelecom, a trade group that represents scores of phone companies, suggested punishment beyond civil enforcement efforts currently in place, especially given the criminal activity involved in robocall scams that seek to defraud people.

"There is an acute need for aggressive criminal enforcement against illegal robocallers at the federal and state level," Halley told the lawmakers, saying that many of the people who get caught are recidivist robocallers. "Those who blatantly disobey the law and who enable fraudulent activity need to go to jail," he said. Read more at YAHOO FINANCE

National Debt Holdings is a professional Receivables Management Company that partners with creditors to purchase and/or manage receivables at all stages of the account life cycle.

Republicans move to abolish CFPB

Ted Cruz reintroduces bill to eliminate "farce" agency

If a handful of Republicans in the Senate have their way, the Consumer Financial Protection Bureau will not exist for much longer, as for at least the third time in the last few years, Republicans are trying to kill the CFPB.

And just like the two previous times it's been attempted, Sen. Ted Cruz, R-Texas, is leading the way.

Cruz on Tuesday announced that he is reintroducing a bill, titled the "Repeal CFPB Act," which would do exactly that: eliminate the CFPB.

As stated above, this is Cruz's third time to try to legislatively destroy the CFPB.

Back in 2015, Cruz introduced a bill in the Senate that would have eliminated the CFPB, calling the CFPB a "runaway agency." The bill did not pass, and in 2017, Cruz tried again.

"During the Obama administration, the CFPB grew in power and magnitude without any accountability to Congress and the people, and I am encouraged by the actions President Trump has begun to take to roll back the harmful impacts of an out-of-control bureaucracy," Cruz said in 2017. Read more at HOUSING WIRE

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Court to hear tribe's appeal in predatory loan lawsuit

RICHMOND, Va. (AP) - A federal appeals court is set to hear arguments in a lawsuit accusing a small Native American tribe in Michigan of running a predatory loan scheme.

At least five people from Virginia say they borrowed from after receiving an enticing loan pitch. The Richmond Times-Dispatch reports the lawsuit alleges that Big Picture violated Virginia's usury laws by charging annual percentage rates in some cases of more than 600 percent.

The Richmond-based 4th U.S. Circuit Court of Appeals is being asked to decide whether the loan operation is an extension of the Lac Vieux Desert Band of Lake Superior Chippewa Indians, which has sovereign immunity from lawsuits, or whether the tribe is essentially a front for outsiders controlling and profiting from the business.

Arguments are scheduled for Tuesday. Read more at WTOP.COM

Alternative Credit Reporting

Consumer bureau proposes rule to curb debt collector harassment

The Consumer Financial Protection Bureau (CFPB) on Tuesday proposed a rule meant to curb harassment by debt collectors with hard limits on how and when debtors can be contacted by collection agencies.

The proposal from the CFPB also bars debt collectors from taking certain actions that could harm debtors' credit ratings or lead to costly litigation between debtors and collectors.

The CFPB proposal would impose stricter federal oversight and standards for debt collectors under the Fair Debt Collection Practices Act (FDCPA). The bureau was given responsibility for enforcing the law through the Dodd-Frank Act, the banking reform law which created the CFPB in 2010.

CFPB Director Kathy Kraninger said in a Tuesday statement that the bureau "is taking the next step in the rulemaking process to ensure we have clear rules of the road where consumers know their rights and debt collectors know their limitations."

"As the CFPB moves to modernize the legal regime for debt collection, we are keenly interested in hearing all views so that we can develop a final rule that takes into account the feedback received." Read more at THE HILL

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Under New Trump Rules, Debt Collectors Will Be Able To Send Unlimited Texts And Emails

The administration is seeking to update federal debt-collection rules for the first time in more than 40 years.

Seeking to significantly update federal debt-collection rules for the first time in more than four decades, the Trump administration released proposed new regulations on Tuesday that has left neither debt collectors nor consumer groups entirely satisfied.

Under the new regulations, debt collectors will be able to send an unlimited number of text messages and emails to delinquent borrowers; the number of calls they can make per week, however, will be curtailed.

The rules, proposed by the Consumer Financial Protection Bureau, are an update to the 1977 Fair Debt Collection Practices Act, which protects debtors from abusive and unfair practices by third-party debt collectors. The FDCPA, for instance, prohibits debt collectors from calling people before 8 a.m. and after 9 p.m.; and restricts collectors from calling "repeatedly or continuously" with an intent to annoy or harass. But the exact number of calls has, until now, not been specified.

Having been written in the 1970s, the FDCPA was enacted before the ubiquity of mobile phones, email and social media. As The Washington Post noted, debt collectors have expressed concerns about digital communications falling into a legal gray area and have asked for clearer rules pertaining to them. Read more at HUFFINGTON POST


It takes 30 seconds!


CFPB Notice of Proposed Rulemaking (NPRM) on "Payday, Vehicle Title, and Certain High-Cost Installment Loans"


Comments can be submitted now through
May 15
, and can be sent electronically, via email or through regular mail.
1) Submit electronically via at

2) Submit via email to
Include Docket No. CFPB-2019-0006 in the subject line of the message.

3) Submit via regular mail or hand deliver to:
Comment Intake
Bureau of Consumer Financial Protection, 
1700 G Street, NW,     Washington, DC 20552 
 Include Docket No. CFPB-2019-0006 in the letter. 
Must be mailed by Friday, May 10, to ensure arrival by deadline.

If you have questions or would like additional information, please email


5 Factors That Affect the Value of Accounts Receivable Portfolios

Many elements impact the value of accounts receivable portfolios. When evaluating a portfolio to determine its worth, careful analysis of targeted factors helps buyers ensure appropriate value determination. In this article, we will discuss 5 of the key factors that should be considered when assessing a portfolio for purchase.

1. Age of the Accounts- Debt buyers carefully evaluate the age of accounts and the historical treatment of the accounts as a key factor to determining the value of a debt portfolio. Understanding how much time remains in statute of limitations and what collection efforts have already been tried on the accounts has a strong correlation to the portfolios future value.

2. Location of the Accounts- With regulations varying in each state, it is important to know the location of accounts within the portfolio. Rules and regulations vary from state to state and those rules may affect the statute of limitations, garnishment efforts, and other enforcement options. Understanding the geographic breakdown of the accounts in a receivable's portfolio is an important criterion for predicting account value.

3. Original Account Type - The type of account a debt was originated as has a direct effect on the value of the accounts. Auto loans, mortgages, credit cards, and consumer loans all have different values based on the historic probability of recovering funds. Reviewing the type of account, the originating creditor and underwriting standard used to issue the account.

Lending as a Service

State of small business more mixed than administration says

As Small Business Week approaches, the nation's smallest companies in the aggregate are by many accounts doing fairly well. They're not, however, thriving en masse in direct response to Trump administration and Republican policies.

Small business hiring is erratic, according to numbers released by payroll provider ADP. Small businesses typically struggle to add jobs when the unemployment rate is very low, as it is now, at 3.8%. They often can't pay as much as larger companies or offer the comparatively robust benefits that big companies do, thereby leaving them at a disadvantage when workers are scarce.

Meanwhile, surveys by Bank of America, Wells Fargo, Capital One and the U.S. Chamber of Commerce and MetLife show small business owners have been losing some of their optimism as doubts linger about the strength of the current economic expansion. The new tax law has had a mixed impact on small businesses and the trade war that began with Trump administration tariffs is hurting small manufacturers and retailers. Read more at FOX BUSINESS

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Where the average US worker can afford to buy a house

The median home price Opens a New Window. passed the $300,000 threshold earlier this year, while experts expect affordability Opens a New Window. will continue to remain a challenge - particularly among more moderately priced homes.

According to online real estate website Trulia, the list price for a home across the nation jumped more than 19 percent over the past three years, but wages only rose 6.7 percent over the same time frame.

A general rule of thumb is that an individual spend no more than 30 percent of his income on housing for it to be considered affordable - however, Trulia found that the average American worker would need to spend more than 46 percent of his income in order to afford a median-priced home in the current economy.

Using wage data by occupation and location, Trulia examined for-sale homes in the largest U.S. metro areas to determine where teachers, first responders, restaurant workers and doctors - those who typically need to be nearby their workplaces - could afford to live if they spent 30 percent of their income on housing.

The results showed that affordability is a challenge around the country. Even in pricey markets on the West Coast, like Los Angeles, where emergency responders earn six-figures, they can only afford one-quarter of homes. Read more at FOX BUSINESS

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Alternative credit pioneer invites developers to access data through API offering

MicroBilt announced today the launch of its developer website which makes available many of the company's advanced data products as flexible APIs. offers many of the company's most popular products spanning categories like Credit & Decisioning, Collections & Recovery, Background Screening, and Business Credentialling.

"We've had enormous demand for our proprietary data. Making it available as APIs was a natural extension of our services," said Keith Goodnight, SVP/Product Management & Development.

In addition to traditional credit data, MicroBilt provides proprietary alternative credit data from its PRBC Alternative Credit Database. The company also offer APIs for bank account verification and ACH pre-screening that includes over 20,000 domestic financial institutions. Other data services include people and property search APIs, and public record searches. Various pricing plans are available to accommodate companies of various sizes.

"We've assembled a portfolio of API's we believe can help companies across the lending cycle - from mitigating risk to growing their client base to reducing write-offs, and built pricing plans to make these data services accessible to businesses of all sizes," said Valery Bedenko, EVP Software Development. "As we continue to grow and improve our products, we plan to update these APIs so that they continue to provide the best data possible to our clients."
Read more at MICROBILT

Payliance: Powerful Payment Processing Technology

Consumer Financial Protection Bureau Proposes Regulations to Implement the Fair Debt Collection Practices Act

WASHINGTON, D.C. - Today the Consumer Financial Protection Bureau (Bureau) issued a Notice of Proposed Rulemaking (NPRM) to implement the Fair Debt Collection Practices Act (FDCPA). The proposal would provide consumers with clear protections against harassment by debt collectors and straightforward options to address or dispute debts. Among other things, the NPRM would set clear, bright-line limits on the number of calls debt collectors may place to reach consumers on a weekly basis; clarify how collectors may communicate lawfully using newer technologies, such as voicemails, emails and text messages, that have developed since the FDCPA's passage in 1977; and require collectors to provide additional information to consumers to help them identify debts and respond to collection attempts.

"The Bureau is taking the next step in the rulemaking process to ensure we have clear rules of the road where consumers know their rights and debt collectors know their limitations," said CFPB Director Kathleen L. Kraninger. "As the CFPB moves to modernize the legal regime for debt collection, we are keenly interested in hearing all views so that we can develop a final rule that takes into account the feedback received." Read at CFPB

Dreher Tomkies LLP
Dreher Tomkies LLP is a law firm concentrating in the areas of Banking and Financial Services law.

It's not the economy right now for voters: Here's why

The latest Fox News Poll Opens a New Window. put immigration atop the list of issues in the eyes of voters Opens a New Window. . And the economy Opens a New Window. came in second.

We scratched our heads when we saw this; being data geeks, we decided to look for answers in the numbers.

Economy checkup
Last week, retail sales Opens a New Window. came in much better than expected. While many believed that that "sugar high" from tax reform had all but evaporated, tax refunds helped consumers head to the stores or their mobile device to start shopping. A closer look at the numbers shows that sales of bigger ticket items like autos and home furnishings were up as well.

At the same time weekly jobless claims Opens a New Window. just hit the lowest level in 50 years. Employers are holding onto staff as the labor market continues to tighten. And let's not forget that inflation remains low, even though we are a decade into the nation's economic expansion.
Read more at FOX BUSINESS

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Say "yes" to thin-file and no-hit borrowers with REAL alternative data and a fully compliant, AI-powered score, customized for your business.

Financial information and tools available to help people transitioning from incarceration

Often, individuals who are in, or are recently released from, jail or prison struggle with money or financial issues. Every year approximately 636,000 individuals are released from state and federal prisons. An estimated 70 to 100 million individuals in the country have criminal records and oftentimes face obstacles to getting jobs, obtaining housing, and getting an education as a result.

To address the needs of individuals affected by the criminal justice system, the Bureau has worked with correctional facilities, prison libraries, workforce programs, state departments of corrections, drug court programs, and reentry or other community organizations to provide financial empowerment materials to individuals transitioning from incarceration.

Among our most requested resource has been our Behind on Bills booklet , also available in Spanish . This colorful, compact booklet includes a selection of simplified tools from the Your Money, Your Goals toolkit. The booklet can assist frontline staff working with individuals in the criminal justice system to prioritize their debt payments to make sure they understand the consequences of not paying certain debt or prioritizing some debts over others. The Bureau is now making these booklets available to prisons without bindings to accommodate the security needs of correctional facilities. Facilities can order the booklet here. Read more at CFPB

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