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 »