German Collection Agency Purchased for $684M
European private equity firm Permira has agreed to buy German debt collection agency GFKL from Advent, the companies said Monday.  more »
Debt buyer PRA Group announced Monday it will expand into the German debt purchase market. more »
Bloomberg News
"Today's inquiry seeks information on the pain points in student loan servicing that make repayment a more difficult and stressful process," said CFPB Director Richard Cordray.
WASHINGTON — The Consumer Financial Protection Bureau is taking a closer look at companies that service student loans to determine whether there are patterns of abuse and misinformation in the $1 trillion industry. more »
FREER REIN, OR EXTRA ROPE? "You may have a loan that doesn't meet [agency] guidelines, but you would make that loan every day," said Brad Blackwell, in explaining why Wells Fargo likes the flexibility that comes with making mortgages to be held on balance sheet rather than sold to Fannie or Freddie.
Brad Blackwell, who heads portfolio lending at Wells Fargo, calls his bank's underwriters the "fighter pilots" of the lending industry — they belong to a force trained to attack very specific targets. more »
A Vermont consumer protection bill that would regulate the rent-to-own industry and temporarily ban lawsuit loan companies from operating in the state passed in the Vermont House on Friday. more »
Debt-buying giant Encore Capital Group reports first-quarter gains, including in portfolio purchasing and recoveries. more »
Debt-buying giant PRA Group on Wednesday reported strong first-quarter gains. more »
Debt settlement company Morgan Drexen Inc. filed for Chapter 7 bankruptcy liquidation Friday, shortly before a U.S. appeals court threw out the company's earlier constitutional challenge to the Consumer Financial Protection Bureau. more »
Business groups in North Carolina are backing a bill pending in the state’s House that would lift restrictions the legislature passed in 2009 to protect people from abusive collections. more »
A bill easing restrictions on the collection efforts of debt buyers won the endorsement of North Carolina's Senate Judiciary Committee in a voice vote Tuesday. more »
Corinthian Colleges, the for-profit chain of colleges under fire in the last year for leaving students with unsustainable debt levels and lackluster job prospects, announced it's shutting down its remaining 28 campuses effective Monday. more »
Debt-buying giant PRA Group Inc., which purchases consumer debt from banks and other creditors, has named Deborah Cassidy as its chief information officer. more »
Navient Corp. released Q1 financial results on Thursday that include $830 million of student loan purchases, $300 million of common share repurchases and the acquisition of a new asset recovery and business process outsourcing firm focused on state and local public sector markets. more »

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