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Today in Collections
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Economists Expect an Increase in Consumer Spending
Collections & Credit Risk | May 20, 2013Consumer spending is expected to accelerate this year, while government spending declines at a faster rate, according to the results of a late-April survey of 49 business economists.
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FTC Settlement Includes Debt-Relief Charges
Collections & Credit Risk | May 20, 2013Two operators of alleged tech support scams agreed to settle FTC complaints and give up what they gained in the operation. The scams included telemarketing a debt-relief program.
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UK Debt Buyer Lowell Group Acquires Interlaken
Collections & Credit Risk | May 16, 2013Lowell Group, a purchaser of non-performing consumer debt portfolios in the United Kingdom, Thursday announced the acquisition of Interlaken Group.
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Vehicle History Score Helps Lenders Predict Delinquency
Collections & Credit Risk | May 15, 2013TransUnion has developed a risk assessment model to help auto lenders evaluate the potential for future loan delinquency based on the history of the vehicle used as collateral.
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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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J.C. Flowers Acquires UK Collection Business
Collections & Credit Risk | May 16, 2013U.S. private equity firm JC Flowers & Co., run by ex-Goldman Sachs banker Christopher Flowers, will acquire British debt collector Cabot Credit Management from AnaCap Financial Partners.
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Survey Reveals Gaps in Credit Score Knowledge
Collections & Credit Risk | May 14, 2013A consumer survey reveals a large number of Americans know little about credit scores, with between one-quarter and two-fifths of a sample of 1,000 people incorrectly answering wide-ranging questions about scores.
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Capital One's U.S. Card Chargeoffs Fall
Collections & Credit Risk | May 15, 2013Chargeoffs at Capital One Financial Corp.'s U.S. card business fell to 4.61% in April from 4.69% in March, according to a Securities and Exchange Commission (SEC) filing.
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Payday Lenders to CFPB: Back Off
Collections & Credit Risk | May 17, 2013Last month Richard Cordray argued that payday lenders charge exorbitant fees and often trap consumers in a cycle of debt.
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California Company Settles Robocall Charges
Collections & Credit Risk | May 14, 2013A California company that provides voice-over-Internet services has agreed to stop transmitting robocalls to consumers to settle charges that it violated the Telemarketing Sales Rule.
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Viewpoint: 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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Viewpoints
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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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