Northland Group Acquires Accounts Receivable Management
Northland Group Inc., based in Minneapolis, recently acquired the collection business of Accounts Receivable Management Inc.
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A Citigroup subsidiary has agreed to refund nearly $16 million to 31,234 customers who were said to have been charged higher investment advisory fees than promised. more »
DBA International announced Wednesday it is accepting applications from collection law firms and third-party collection agencies that wish to earn the association's professional certification designation. more »
Nearly 800,000 Home Equity Lines of Credit were originated nationwide in a recent 12-month period, the highest mark since the 12 months ending June 2009, according to a new report. more »
Pennsylvania-based collection agency Commonwealth Financial Systems Inc. owes more than $2 million to the state's Department of Revenue. more »
Manufactured-home owners often pay higher interest rates for their loans than borrowers whose homes were built onsite, according to a report released Wednesday. more »
TAKE TWO: The Pentagon's proposed update to military-lending rules would extend the 36% interest rate cap on loans for service members, so that it includes credit cards and installment loans in addition to payday loans.
A new proposal from the Pentagon on high-cost lending would affect a wide swath of the consumer finance industry, including not only payday lenders but also banks and credit unions. more »
Arrow Global Group, a UK-based buyer of delinquent debt from credit card companies and banks, will acquire rival Capquest from a private equity fund for $258 million. more »
More than half of B2B receivables 90 days or more overdue were written off in the U.S., Canada, Mexico and Brazil, according to a survey. more »
City officials hope to soon devise a plan that will help recover the money, including presumably out-of-statute debts. more »
Tucker, Albin and Associates Inc. earned a spot on the latest Inc. 5000 list published by Inc. magazine. The list honors growing privately held U.S. companies. more »
Credit: Dan Nelken
"I would work for a company making half the commission just to get (the loans) done in a timely manner," said Robert Bram, a managing director and loan officer at Luxury Mortgage Corp.
Compensation, long believed to be the top motivating factor in loan officers' choice of where to hang their licenses, was a runner-up to concerns about professionalism and quality, according to a new survey. more »
The city of El Paso, Texas is reviewing whether to make a zoning change that would limit where payday and auto loan companies can operate. more »

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