Collections & Credit Risk

Regulation

• Payday Loan Defendant Settles Illegal Collections Case

  Collections & Credit Risk | September 2

  One of the owners of a payday loan and collection operation agreed to settle Federal Trade Commission charges for his role in a scheme that used illegal collection practices.

• Dodd Recounts War Stories Over Regulatory Reform

  PaymentsSource | September 1

  After a brutal 21-hour legislative session ending in the early morning hours of June 25, Senate Banking Committee Chairman Chris Dodd thought regulatory reform was finally finished.

• FTC Settlement Stops Alleged Credit-Repair Scam

  Collections & Credit Risk | September 1

  A credit repair operation agreed to stop making false claims and stop charging upfront fees under a settlement with the Federal Trade Commission.

• U.S. Court Dismisses Shareholder Lawsuit Against VeriFone

  PaymentsSource | August 27

  The U.S. District Court for the Northern District of California has dismissed a shareholder class-action lawsuit filed against some members of VeriFone Systems Inc.’s board of directors in 2007, according to the San Jose, Calif.-based terminal maker.

• Debt Buyer Fined $85,000 Over Collection Lawsuits

  Collections & Credit Risk | August 27

  Worldwide Asset Management, a debt-buying unit of West Asset Management, agreed late Thursday to pay an $85,000 penalty in Maryland.

• Banned Collector Faces Charges; Ran Business From Prison

  Collections & Credit Risk | August 25

  New York Attorney General Andrew M. Cuomo today announced criminal charges against an individual who allegedly ran a collection agency while incarcerated in federal prison on unrelated charges.