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Troubled College Chain to Sell Campuses in 17 States
Corinthian Colleges Inc., the higher-education company accused by the CFPB of fair debt violations, announced Thursday that it has agreed to sell campuses in 17 states to an organization that also came under fire this year for collection practices.
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A U.S. Treasury Department pilot program involving taking over the collection of defaulted student loan accounts could mean the work eventually will be pulled from private debt collection agencies. more »
DBA International has announced the addition of Helen Mac Murray as its attorney general consultant and Perry Communications Group Inc. as its new public affairs agency. more »
Debt buyer PRA Group on Monday reported third quarter net income increased 8% to $51.2 million on cash collections of $372.7 million, a 28% jump. Revenue in the quarter rose 21% compared to a year ago to $239 million. more »
Debt buyer Encore Capital Group Inc. reported Thursday that total revenues in the third quarter ended Sept. 30 increased 16% to a record $273.3 million, compared to $235.6 million in the year-ago period. more »
U.S. asset manager Fortress Investment Group and Italy's Prelios, a real estate group, are expected to jointly purchase UCCMB, the debt collection unit of UniCredit, Italy's largest bank by assets. more »
Years of budget cuts are having a negative impact on the ability of the Internal Revenue Service to collect delinquent taxes, according to a new government report. more »
Collection industry giant NCO Financial System's parent company Expert Global Solutions (EGS) announced Monday it has closed a previously announced deal to sell several business segments to a private equity firm. more »
The Office of the Comptroller of the Currency on Tuesday cleared up a key part of a recent bulletin issued on consumer debt sale arrangements between third parties. more »
The Sixth Circuit Court of Appeals reversed a lower court decision Friday, ruling debt buyer Portfolio Recovery Associates violated the Fair Debt Collection Practices Act when it sought to collect interest charges on a credit card debt. more »
Equifax Inc. reported third-quarter profit jumped 11% as revenue increased 7%, with earnings excluding items slightly above a July projection. more »
DBA International has announced the first certified collection law firm under its expanded certification program. more »
Northland Group Inc., based in Minneapolis, recently acquired the collection business of Accounts Receivable Management Inc. more »

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