Fort Lauderdale, FL – February 21, 2018 –The results of a six-year study of consumers enrolled in debt settlement programs, commissioned by the American Fair Credit Council (AFCC) and performed by the Certified Public Accounting firm of Hemming Morse LLP, once again shows consumers realize financial benefit from debt settlement program participation. Furthermore, the study illustrates that consumers have realized greater benefits since regulation of the industry went into effect in 2010. The most recent report, the third of its kind since the AFCC first commissioned the study back in 2012, tracks the outcomes of over 400,000 clients in 2.9 million accounts enrolled in debt settlement programs during the period January 1, 2011 to March 31, 2017.
Fort Lauderdale, FL – December 21, 2017 – The American Fair Credit Council (AFCC) announced today it will hold its 2018 Spring Conference, April 15-16 at the historic Driskill Hotel in Austin, TX. The conference will highlight speakers from across the debt relief and accounts receivable management industries and for two days of informative sessions and networking opportunities.
Fort Lauderdale, FL – July 14, 2017 – The American Fair Credit Council (AFCC) announced today it will hold its fall conference October 8-10 at the Mirage Hotel and Casino in Las Vegas, NV. This year’s conference will bring together speakers and attendees representing the debt settlement and the credit and collection industries for three days of informative presentations and networking opportunities.
Fort Lauderdale, FL – January 13, 2017 – The American Fair Credit Council (AFCC) announced today it will hold its spring conference April 28th at the Avenue of the Arts Hotel in Costa Mesa, CA. This year’s conference will highlight recent legislative and regulatory updates as well as technical sessions from leading industry stakeholders and leading industry consultants.
Highlights of the upcoming conference include a presentation by Robby Birnbaum, who will provide a legislative update and recap current regulatory enforcement actions working their way through the courts. Additionally, the association has retained a number a of speakers that will provide working sessions to help members learn more about emerging trends in the debt settlement industry.
Fort Lauderdale, FL – January 11, 2017 – The American Fair Credit Council (AFCC), acting on behalf of the debt settlement service provider industry, has filed a formal complaint with the Office of the Ombudsman of the Consumer Financial Protection Bureau (CFPB). This complaint was prompted by the November 29, 2016 CFPB Complaint Snapshot Report, VOL.17 (the “Snapshot Report”), which incorrectly reported that roughly half of the approximately 4,500 complaints handled by the Bureau in this area were attributable to companies providing debt settlement services.
Fort Lauderdale, FL – February 25, 2016 – The American Fair Credit Council (AFCC) announced today it will hold its spring conference April 17th-18th at the Ritz Carlton Hotel in New Orleans, LA. This year’s conference will highlight recent legislative updates and technical sessions from leading industry stakeholders, legislators and industry regulators.
Highlights of the upcoming conference include a presentation by Ohio State Senator Bill Seitz, (R-Cincinnati) and AFCC lobbyist Kurt Leib, partner at Capitol Advocates, who will provide a detailed update on a bill moving through the Ohio legislature relating to fee caps on debt relief services. Attendees will have an opportunity to hear from the Consumer Financial Protection Bureau’s (CFPB) Debt Collection Program Manager Mr. John McNamara, who will provide an update on the status of the agency’s debt collection rule-making initiative and how the enhanced regulatory scrutiny of the debt collection industry may impact the debt settlement industry.
Fort Lauderdale, FL – September 16, 2015 – The results of nine year study of consumers enrolled in debt settlement programs, commissioned by the American Fair Credit Council (AFCC) and performed by the Certified Public Accounting firm of Hemming Morse LPP, show consumers realize financial benefit and have a higher probability of success since regulatory reforms went into effect in 2010. The August 2015 study, the second of its kind and a follow up to the original study commissioned by the AFCC in 2012, addressed the outcomes of over 1.9 million consumer accounts enrolled in debt settlement programs by approximately 297,000 consumers from January 1, 2006 through March 31, 2015.
June 15, 2015 - New York Times - Goldman Sachs has spent 146 years largely as the bank of the powerful and privileged. Now the Wall Street powerhouse is working on a new business line: providing loans that can help you consolidate your credit card debt or remodel your kitchen.
While the new consumer lending unit is still in the early planning stages, Goldman has ambitious plans to offer loans of a few thousand dollars to ordinary Americans and compete with Main Street banks and other lenders.
June 15, 2015 - International Business Times - Law enforcement officials don't like it when debt collectors pretend to be cops in order to get consumers to pay them. Case in point: federal and state regulators earlier this year sued a Buffalo, New York, firm after collectors allegedly made numerous false threats to debtors and identified themselves on phone calls with pseudonyms such as “Detective Jeff Ramsay” and “Investigator Kearns.”
Last month, the Federal Trade Commission won a temporary restraining order against an outfit operating approximately 15 miles north of Buffalo in North Tonawanda, New York. The collectors in that case, the suit alleges, claimed to be calling from “The State Officials' Office,” and threatened to dispatch a “uniformed officer” to consumers’ homes or offices, as well as advised them to “secure any large animals or firearms on the premises.”
May 26, 2015 - ACA International - The Consumer Financial Protection Bureau has once again updated its regulatory agenda, including its plans for regulating the debt collection industry. The CFPB's recently released spring 2015 Regulatory Agenda is a voluntary update in conjunction with a broader initiative led by the Office of Management and Budget to publish a Unified Agenda of Regulatory and Deregulatory Actions across the federal government. Portions of the Unified Agenda will be published in the Federal Register, and the full set of materials is now available online.
In addition to debt collection activities, major initiatives involve mortgages, prepaid financial products, payday and other similar loans, overdraft services, defining auto lending larger participants and arbitration. The agenda categorizes rulemaking actions by stage as pre-rule, proposed rule, final rule, long term actions, or completed actions. The next semi-annual agenda, typically released in the fall, will reflect the results of further prioritization and planning.