A U.S. district court on Monday halted a Buffalo, N.Y.-based collection agency from doing business, froze the operation's assets and appointed a temporary receiver to take over the defendants' business pending trial.
The U.S. Department of Education has not properly overseen the collection agencies it hired to pursue delinquent federal student loans, according to an audit released by the department's inspector general.
The banking industry is pushing back against a plan released this week by the Consumer Financial Protection Bureau to publicize more details about consumers' individual complaints about financial companies.
New rules published by New York State regulators include better disclosures for collection communications, provisions for email, protections against time-barred collection and stronger verification procedures.
WASHINGTON — The Consumer Financial Protection Bureau issued a proposal Wednesday that would allow it to publish more information about individual complaints made by consumers about financial companies.
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.
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.
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.