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Foreclosures Rise in March; Fall to Eight-Year Quarterly Low
U.S. foreclosure activity rose sharply in March on an increase in bank repossessions, but dropped in the first quarter to the lowest mark in eight years, according to a report by industry firm RealtyTrac.  more »
Debt buyer Asta Funding agreed Wednesday to settle charges brought by New York regulators for allegedly pursuing improper debt collection tactics against hundreds of consumers in the state. more »
Two debt brokers agreed to settle charges that they exposed highly sensitive information about tens of thousands of consumers while trying to sell portfolios of consumer debt on a public website. more »
Mortgage finance company Fannie Mae revealed details Wednesday of its first-ever large sale of non-performing mortgages, a move that could make it easier for some of the borrowers behind the loans to stay in their homes. more »
Kent McCammon (right), executive vice president of strategy and business development for PRA Group, accepts the Global M&A Deal of the Year award from Amanda Drury, co-anchor of CNBC's "Power Lunch." Also pictured: Andrew Blodgett, investment banking associate at William Blair & Company.
PRA Group, a Norfolk, Va.-based debt buyer, was named a Global M&A Deal of the Year recipient in the M&A Atlas Awards for last year's $1.3 billion acquisition of Norway-based Aktiv Kapital AS. more »
TransUnion Corp. restarted the process for an initial public offering, three years after the credit-reporting company was acquired in a $3 billion deal that ended its earlier run at going public. more »
Michigan lawmakers adopted a resolution recognizing and commending DBA International for its efforts to protect consumers and creditors through its national Receivables Management Certification Program. more »
The National Foundation for Credit Counseling's acquisition, announced Monday, will create the largest national nonprofit network of certified student loan counselors. more »
Wells Fargo will close its home-lending servicing office in Milwaukee and cut 1,000 jobs, saying fewer homeowners are falling behind on payments and seeking help keeping their homes. more »
The Public Prosecution Service of Canada has issued a notice seeking collection agencies to pursue a $136 million backlog of delinquent court fines. more »
European banks plan to sell $109 billion of bad debt in 2015 to reduce costs and rebuild their balance sheets, according to a PricewaterhouseCoopers LLP report. more »
Unifund Group has acquired First Resolution Investment Corp., including all assets and an estimated 72,000 accounts with a face value of $1 billion. more »
A top Justice Department prosecutor said the U.S. is prepared to punish banks for violating criminal settlements, an unprecedented move designed to crack down on repeat offenders. more »

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