Donald Trump

Bankruptcy News Briefs 6/15

Dive Into Today’s Headlines…

Trump Reinstates Jessica Rosenworcel’s FCC Nomination

Study: Consumers Pay Down Credit Card Debt in First Quarter; But Not Enough

U.S. Department of the Treasury Calls for CFPB Reform in Report to President

ED RFP Litigation Continues Even While RFP “Do-Over” is in Progress

Six Degrees Of Separation: Use Of Bankruptcy Rule 2004 Examination In Connection With Third-Party Litigation

The CFPB’s Examination Playbook Revealed

Department of Education Intends to Revisit Rules that Provide Relief and Protections to Students, Taxpayers from School Fraud

Jurisdiction Retention Clause in Sale Order Can’t Provide Bankruptcy Court Subject Matter Jurisdiction for Contract Disputes between Non-Debtors

Why consumer groups are ready to fight Trump rollback of financial safeguards

How debt collection industry scored rare ‘victory’

Treasury Report Recommends Keeping Data From Consumers

Gorsuch’s First Opinion: Let Debt Collectors Run Amok

Colorado Modifies and Extends Its Fair Debt Collection Practices Act Through September 1, 2028; Extends Scope to Cover “Debt Buyers”Assembly Judiciary Committee Approves ​Wieckowski Bill

Feds point fingers as ‘debt relief’ cos. prey on students

So Who Really Is A ‘Debt Collector’ Under The FDCPA?

Upcoming NACBA Webinar!

Don’t miss NACBA’s comprehensive webinar, “2017 Case Law Updates & Impact on Consumer Bankruptcy Attorneys,Thursday, June 22nd from 3pm-4pm ET with Henry Sommer and Angela Littiwn. This webinar will discuss recent trends in bankruptcy case law, with analysis of cases decided by the Courts of Appeals and other appellate courts. Take a look at the cases they will be discussing and make sure you Register Today!

Cost is $25 for NACBA Members/$75 For NonMembers

Renew Your Membership  For a Chance to Win This Great Resource!

Renew your membership in June to be entered to win a copy of NCLC Consumer Bankruptcy Law and Practice Volume I & II, Eleventh Edition (Value $130). Two winners, will be selected at random each month.

Introduce a New Member to NACBA & Receive a $25 Amazon Gift Card! 

In honor of NACBA’s 25th Anniversary, we want to reward you with a $25 Amazon Gift Card! Introduce a new member to NACBA and we will send you $25 Amazon Gift Card. Not only will YOU receive a $25 Amazon Gift Card but the NEW MEMBER will also receive a $25 Amazon Gift Card! Check out the Requirements and start referring today!

PlayBack NACBA

Can you believe it’s been a month since the 2017 Convention? Was there a session you wanted to attend, but couldn’t? We understand! There were so many incredible sessions available and you can only be in one place at one time, but don’t fret! There is a way that you can relieve NACBA25 visit Playback NACBA and access your  3 Month Pass if you were an attendee!

Not A Member of  NACBA? Join today and receive membership benefits that will enhance your professional endeavors!

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Bankruptcy News Briefs 2/9

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Forced Vesting Does Not Satisfy Confirmation Requirements

House Financial Services Committee Approves Oversight Plan for 115th Congress

FCC Chairman Ajit Pai Announces Additional Process Reform Measures

Consumer Borrowing Rises at Slowest Pace Since 2013

Bankruptcy Filings Increase Year-Over-Year

Unexpected CFPB Move; Release of Yelp-Style Rating Plan

CFPB’s Consumer Complaint Database Could Go Away

CFPB: Debt Collection Tops Consumer Complaints for December

Court Rules 125 Calls in 135 Days is Not FDCPA Violation

U.S. Economic Collapse Looms as Bankruptcy & Debt Rise, Savings Plunge

Upcoming NACBA Events

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Join us in celebrating 25 years of NACBA on May 4th-7th in Orlando, Florida at the Walt Disney World Swan and Dolphin Resort. Visit NACBA25 for all the details on speakers, sessions, hotel reservations, registration and more!

Register today for the Early Bird Rate that ends March 3rd, 2017 for savings!

Save the Date! New NACBA Webinar in  March

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What to do: Post HAMP for Mortgage Borrower Clients
Date: Thursday, March 16, 2017, 3:00 PM Eastern to 4:00 PM Eastern.
Presented by: Marc Dann Esq., and Bobby Rivera Esq.
Registration opens soon

 

Receive a $25 Amazon Gift Card!

In honor of NACBA’s 25th Anniversary, we want to reward you with a $25 Amazon Gift Card! Introduce a new member to NACBA and we will send you $25 Amazon Gift Card. Not only will YOU receive a $25 Amazon Gift Card but the NEW MEMBER will also receive a $25 Amazon Gift Card! Check out the Requirements and start referring today!

Renew Your NACBA Membership

We want you to have access and the member rate to all of NACBA’s exciting upcoming events in 2017, especially our 25 year celebration at the Annual Convention. Take a moment today to Renew your membership or if your not a member of NACBA there is no better time to Join!

Bankruptcy News Briefs 2/6

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Supreme Court Nominee Could Impact CFPB Case Decisions

President Donald Trump Unveils Extensive Review of Dodd-Frank Act

Former Counsel Offers Opinion on CFPB Structure, While D.C. Court Denies AG Group’s Bid to Intervene

Colorado Holds Hearing on Whether to Sunset Its Fair Debt Collection Practices Act

FCC Must Resist Industry Pressure to Unleash Incessant Robocalls to Student Loan Borrowers and Their Relatives and Neighbors

Cross-Collateralized Loans May Be Crammed Down

Fewer Americans Now Expect to Die in Debt

Student debt now affects a staggering number of elderly Americans

Letter Asking Consumer to Consider Payment Arrangements and Requiring Signed Consent Judgment Deemed FDCPA Violation

FCC Should Suspend Online Privacy Rules

Trump’s F.C.C. Pick Quickly Targets Net Neutrality Rules

ABI: January Total Bankruptcy Filings Up 5% from 2016

The rising cost of college loans for retirees

Upcoming NACBA Events

nacba25

Join us in celebrating 25 years of NACBA on May 4th-7th in Orlando, Florida at the Walt Disney World Swan and Dolphin Resort. Visit NACBA25 for all the details on speakers, sessions, hotel reservations, registration and more!

Register today for the Early Bird Rate that ends March 3rd, 2017 for savings!

Save the Date! New NACBA Webinar in  March

NACBA Webinars Web Banner (1)

What to do: Post HAMP for Mortgage Borrower Clients
Date: Thursday, March 16, 2017, 3:00 PM Eastern to 4:00 PM Eastern.
Presented by: Marc Dann Esq., and Bobby Rivera Esq.
Registration opens soon

 

Receive a $25 Amazon Gift Card!

In honor of NACBA’s 25th Anniversary, we want to reward you with a $25 Amazon Gift Card! Introduce a new member to NACBA and we will send you $25 Amazon Gift Card. Not only will YOU receive a $25 Amazon Gift Card but the NEW MEMBER will also receive a $25 Amazon Gift Card! Check out the Requirements and start referring today!

Renew Your NACBA Membership

We want you to have access and the member rate to all of NACBA’s exciting upcoming events in 2017, especially our 25 year celebration at the Annual Convention. Take a moment today to Renew your membership or if your not a member of NACBA there is no better time to Join!

NACBA’s Washington Update IX

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This is the latest update from Washington, designed to keep NACBA members informed about significant and relevant activity on the part of Congress, regulatory agencies and interest groups/think tanks.  Feedback should be directed to mthompson@hastingsgroup.com.

Obviously, the big news out of Washington continues to be the election results.  NACBA members who joined us for the November 18 webinar, “The 2016 Election: What Now?,” heard NACBA leaders and our representatives in Washington answer the questions about what to expect in 2017 from the Administration, Congress and the courts.  We are planning to issue a special report in the next few weeks, after we learn more about the Cabinet and priorities of the Trump Administration and Congress.  Our report will focus not only on what to expect from the White House come January, but also the key agencies of interest to NACBA — Department of Justice, Consumer Financial Protection Bureau, and the Department of Education — as well as the leadership and key committees in Congress.

Continue reading for non-election news out of Washington this week.

ON THE HILL The 114th Congress has unofficially come to a close, but our elected officials are still at work.  Sen. Elizabeth Warren (D-MA) and Rep. Elijah Cummings (D-MD) are broadening their investigation of the Wells Fargo scandal to examine whether Prudential Financial insurance products were also charged to the bank’s customers without their knowledge.  In a December 13, 2016 letter to Prudential’s CEO, the two Democrats asked for documents related to the bank’s sales of Prudential insurance. They requested the information and a briefing by January 13, 2017.

The action came after three former Prudential (PRU) employees alleged that Wells Fargo employees signed up customers for a low-cost Prudential life insurance policy without their knowledge or permission.  The three former PRU employees filed a Dodd-Frank whistleblower complaint with the SEC alleging they were retaliated against after uncovering the misconduct.

IN THE AGENCIES Fannie Mae and Freddie Mac announced a program to aid homeowners who are behind on their mortgage payments.  The Flex Modification loan program will begin in January 2017 and replaces the Home Affordable Modification Program (HAMP), a foreclosure-prevention policy that’s set to expire at the end of this year. Loan servicers have until October 2017 to implement the program.

The new loan modification guidelines are expected to expand the population of homeowners eligible for lower monthly payments, short sales and other alternatives to foreclosure, according to Fannie Mae.

The Government Accountability Office (GAO) has released a report documenting the consequences that the Department of the Treasury’s practice of garnishing Americans’ social security payments has on student loan borrowers in default. The number of older Americans defaulting on education loans has steadily increased in recent decades, as many have returned to college or co-signed loans for family members. Unpaid debt has resulted in the government garnishing the benefits of 114,000 people age 50 and older in the past year, more than half of whom were receiving Social Security disability rather than retirement income.  The report found that for more than two-thirds of borrowers whose monthly benefit was below the poverty line, the money deducted from their Social Security benefits was enough only to pay fees and interest, so the amount of the debt was not even reduced. The report also found that of older student loan borrowers with a Social Security offset, 43% had held their loans for 20 years or more and 80% had held their loans for 10 years or more.  Although there are rules designed to protect a portion of the recipient’s benefits, the dollar amount protected has not changed since 1996, and leaves a borrower with only $750/month ($9,000/year) to live on.

MORE FROM CFPB  The Bureau released a report raising new concerns about costly fees and risky features that can be attached to certain college-sponsored accounts. The report comes after analysis of roughly 500 marketing deals between the schools and large banks found that many deals allow for risky features that can lead students to rack up hundreds of dollars in fees per year. The report also examines trends in the school-sponsored credit card market. The CFPB also issued a bulletin today reminding colleges and universities they are required to publicly disclose marketing agreements with credit card companies.  The campus banking report is available at here.

Both the Director of the CFPB and the head of the FHFA have expressed their intent to finish out their terms at their respective agencies.  Richard Cordray “has no plans” to leave the top job at the CFPB, the agency said. “Director Cordray was confirmed by a bipartisan group of 66 senators to serve a term until July 2018 and has no plans to step down,” CFPB Communications Director Jen Howard said in an email.  Mel Watt, the FHFA head overseeing Fannie Mae and Freddie Mac, will serve out the remaining two years of his term after President-elect Donald Trump takes office.  Watt made his intent clear during a recent meeting with agency staff, according to people familiar with that gathering who confirmed the remarks Friday. His term expires in January 2019.

FROM THE INTEREST GROUPS U.S.PIRG has released a report titled “Big Banks, Big Overdraft Fees” that concludes that “overdraft fees are a major source of consumer pain, since they are borne disproportionately by Americans with few financial resources” but, that the CFPB is working to protect consumers from unfair overdraft fees.” A copy of the report is available here.

The private student loan industry is making a push to expand its role in the Department of Education’s growing $1.3 trillion portfolio of federal student loans.  A main lobbying group for the industry, the National Council of Higher Education Resources, wrote a letter this week to President-elect Donald Trump’s transition team, making a series of proposals that included a bold plan to auction off some of the existing portfolio of federal loans to private investors. You can read a copy of the letter here.

Bankruptcy News Briefs 11/23

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FCC Enforcement Bureau Issues Advisory on Text Message Compliance with TCPA

Fed Survey Shows Decline in Consumers’ Experiences in the Credit Market

FCC Releases TCPA Enforcement “Reminder” as Speculation Continues About Trump Effect

Student Loan Servicer Reaches $2.4 Million Settlement with State of Massachusetts

Texas Court Addresses Post-Petition Sale of Homestead in Chapter 7

Chris Lazarini Analyzes Right to Jury Under Section 4 of Federal Arbitration Act

Ninth Circuit Holds Trustees Performing Non-Judicial Foreclosures Are Not Debt Collectors Pursuant To FDCPA

Upcoming NACBA Events

So you missed the NACBA Cruise?
So did we but here is your chance to catch up!

2016 VIRTUAL BANKRUPTCY WORKSHOP

A two (2) day overview of cutting edge consumer bankruptcy education in a virtual format presented by some of the top bankruptcy experts in the United States.

DATES: Friday, December 9, 2016 & Friday, December 16, 2016

TIMES:
Friday, December 9: 12:00 PM – 3:30 PM EASTERN and
Friday, December 16: 12:00 PM – 3:00 PM EASTERN

Schedule conflict? No worries at all.
Register by 12/8/16 and the recordings will be emailed to you upon request.


COST:
$99 NACBA Members, $199 Non Members

INCLUDES:
All Materials, Certificate of Attendance, Seminar Recordings, Live Q&A

REGISTER HERE

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Give yourself a gift and register for December’s Webinar!

Growing Your Bankruptcy Practice in 2017 and Beyond

Date: Wednesday, December 14, 2016
Time: 3:00 PM Eastern / 12:00 PM Pacific (60 minutes)
Presenter: Richard James, CEO, Office of Richard James
Cost: No Cost to NACBA Members – Member Benefit

Register HERE

If you want to build a law firm that supports your lifestyle, instead of undermining it, then join Richard James on Wednesday, December 14th at 3 PM ET. If you want 2017 to be the year that you finally build the law firm of your dreams, then you have to be on this webinar training. Learn the key strategies that hundreds of Richard James’ clients are using to grow like never before. This is real world, in the trenches advice you can put to practice right away.

Celebrate 25 Years of NACBA!

Save the Date for NACBA’s Silver Anniversary Annual Convention

2017 NACBA’s 25th Annual Convention
Thursday, May 4’th – Sunday, May 7’th, 2017
Orlando, Florida

Interested in Sponsorship Opportunities at #NACBA25? Check out the Prospectus and join us in 2017!

JOIN NACBA TODAY

Become a member of NACBA! Join today and take advantage of the benefits, networking opportunities and resources NACBA has to offer!

Bankruptcy News Briefs 11/18

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TCPA Cases Approach Milestone for 2016: Consumer filings under the Telephone Consumer Protection Act could top 5,000 this year.

Bankruptcy History Creates Inference of Intent to Hinder, Delay

Can Trump Make the TCPA Great Again? A Highly-Speculative Look at the Future of the TCPA under a Trump Presidency 

CFPB Field Hearing Investigates Storage, Use and Transmission of Digital Financial Records

Money 101: Here’s everything we know about Trump’s student debt plans

UDAAP Violations in Consumer Debt Collection

The CFPB must educate as it regulates debt collection

Upcoming NACBA Events

There’s Still Time to Register for Today’s Webinar

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Post Election: Now What?

Date: November 18, 2016
Time: 12:00 PM Eastern / 12:45 PM Pacific (45 minutes)
Presenters:
– Maureen Thompson, NACBA Legislative Director
– Jonathan Yarowsky, NACBA Advocate
– Ike Shulman, NACBA Legislative Committee Chair
– Ed Boltz, NACBA President
Cost: No Cost to NACBA Members – Member Benefit

Register HERE

Few people predicted that we would wake up on November 9th to a Trump Administration. But, come January 20th Mr. Trump will be in the White House and Republicans will control the Administration, the House of Representatives and the Senate for the first time since 2005.

NACBA invites you to join a webinar on Friday, November 18, 2016 to learn about how NACBA’s Advocacy program intends to respond to the new environment, the opportunities and challenges we see ahead, what the new Administration might mean for your bankruptcy practice, and how you can get involved to help NACBA reach its goals.

Growing Your Bankruptcy Practice in 2017 and Beyond

Date: Wednesday, December 14, 2016
Time: 3:00 PM Eastern / 12:00 PM Pacific (60 minutes)
Presenter: Richard James, CEO, Office of Richard James
Cost: No Cost to NACBA Members – Member Benefit

Register HERE

If you want to build a law firm that supports your lifestyle, instead of undermining it, then join me on Wednesday, December 14th at 3pm ET. If you want 2017 to be the year that you finally build the law firm of your dreams, then you have to be on this webinar training. I am going to share with you the key strategies that hundreds of my clients are using to grow like never before. This is real world, in the trenches advice you can put to practice right away.

Celebrate 25 Years of NACBA!

Save the Date for NACBA’s Silver Anniversary Annual Convention

2017 NACBA’s 25th Annual Convention
Thursday, May 4’th – Sunday, May 7’th, 2017
Orlando, Florida

Interested in Sponsorship Opportunities at #NACBA25? Check out the Prospectus and join us in 2017!

JOIN NACBA TODAY

Become a member of NACBA! Join today and take advantage of the benefits, networking opportunities and resources NACBA has to offer!

Bankruptcy News Briefs 11/17

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Title-Pawned Vehicles Property of Estate

Consumer Advisory: Beware Holiday Shoppers Deferred Interest Promotions Promise 0% Now But Can Cost Big Bucks Later

Overall Consumer Credit Default Rates Increase in October

GOP, Business Groups Launch Campaign to Constrain CFPB

CFPB, Schneiderman team for lawsuit

$5.5 Million TCPA Class Action Settlement Against Debt

Hensarling Says He’s Willing to Tweak Dodd-Frank Overhaul Plan

President Trump’s Impact On Your Student

Upcoming NACBA Events

There’s Still Time to Register for Today’s Webinar

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6 Key Numbers Every Bankruptcy Attorney Must Know

Date: November 17, 2016
Time: 3:00 PM Eastern / 12:00 PM Pacific (60 minutes)
Presenter: Stephen Fairley, CEO of The Rainmaker Institute
Cost: No Cost to NACBA Members – Member Benefit

Register HERE

There are 6 critical numbers every bankruptcy lawyer running and growing a business needs to understand and review every month. Unfortunately, many attorneys don’t have the systems in place to obtain these numbers nor do they know which numbers are the most critical to their success. If you don’t know your numbers you cannot build a financially successful law firm! This webinar will provide you with the tools you need to accurately gauge the financial stability and health of your business.

In this information-packed webinar you will discover:

  • The 6 key metrics you need to track.
  • How to determine your cash flow so you can plan for future growth.
  • 5 areas you need to upgrade to take your law firm to the next level.

Post Election: Now What?

Date: November 18, 2016
Time: 12:00 PM Eastern / 12:45 PM Pacific (45 minutes)
Presenters:
– Maureen Thompson, NACBA Legislative Director
– Jonathan Yarowsky, NACBA Advocate
– Ike Shulman, NACBA Legislative Committee Chair
– Ed Boltz, NACBA President
Cost: No Cost to NACBA Members – Member Benefit

Register HERE

Save the Date for NACBA’s Silver Anniversary Annual Convention

Celebrate 25 Years of NACBA!

2017 NACBA’s 25th Annual Convention
Thursday, May 4’th – Sunday, May 7’th, 2017
Orlando, Florida

Interested in Sponsorship Opportunities at #NACBA25? Check out the Prospectus and join us in 2017!

JOIN NACBA TODAY

Become a member of NACBA! Join today and take advantage of the benefits, networking opportunities and resources NACBA has to offer!