Homes Underwater Stall in Q2 as Price Appreciation Slows
RealtyTrac's U.S. Home Equity & Underwater Report for the second quarter shows that 17% of all residential properties were seriously underwater.
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Ohio Attorney General Mike DeWine
Ohio Attorney General Mike DeWine is facing criticism for his handling of collection contracts after a report found companies were giving campaign donations while the state was reviewing bids for the work. more »
A new report shows a total of 613,874 U.S. properties with foreclosure filings - default notices, scheduled auctions and bank repossessions - in the first half of 2014, a 19% drop from the previous six months. more »
Frank Bisignano, CEO and chairman, First Data
First Data's sale of $3.5 billion of its common equity in the private placement market closed on Friday, July 11. more »
Expert Global Solutions, the holding firm for collections giant NCO Financial, is selling part of its accounts receivable management business to a private equity firm. Financial details of the pending deal were not disclosed. more »
Debt buyer Portfolio Recovery Associates has acquired Aktiv Kapital AS, a Norway-based accounts receivable management company, in one of the largest deals in accounts receivable management history. The combined companies will be called PRA Group. more »
Cordray (left), will work with banks to "ensure compliance with their legal obligations" to protect consumer complaint data, but won't use a contract to do so, an agency spokeswoman said Monday. Industry officials saw "no evidence that any problems have occurred" that made such a contract necessary, says Richard Riese, a senior VP at the ABA.
The Consumer Financial Protection Bureau has squelched a plan to require banks to sign a contract that would have given the agency ownership of the content of consumers' complaints that it receives online. more »
In Pennsylvania, Montgomery County officials report they have collected more than $1.2 million in just 10 months in delinquent court fees and fines dating to 1986. more »
Amazon.com is accused in a lawsuit filed Thursday of billing customers millions of dollars in charges racked up unknowingly by children. more »
WASHINGTON — The Consumer Financial Protection Bureau's watchdog is estimating a total price tag of nearly $216 million for the bureau's renovation of its headquarters. more »
Associated Banc-Corp (ASBC) has acquired $100 million in credit card receivables tied to the Green Bay, Wis., company's customers. more »
Massena (N.Y.) Memorial Hospital board of managers approved a plan to write off more than $630,000 in bad debt for April and May. more »
With 23 collection agencies working on the U.S. Department of Education's student loan collection contract, and the overall market for higher education debt booming, at least one private equity giant is considering whether to acquire collection agencies involved in the growing niche. more »

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