Brussels, Belgium-based Fortis Consumer Finance and EOS announced this week an agreement by which EOS will acquire 50% joint control of Aremas, a subsidiary of Alpha Credit, part of Fortis Consumer Finance. Together, the new partners will further establish Aremas as a key player in the Belgian and Luxembourg debt collection market, and are looking [...]
Waco, Texas-based FirstCity Financial Corporation (Nasdaq: FCFC) announced yesteray it is extending its stock repurchase plan to August 31, 2008. The plan approved by the Board of Directors allows FirstCity to purchase up to one million shares of FirstCity’s common stock. The timing, price and volume of repurchases will be based on market conditions and [...]
Kennesaw, Ga.-based MicroBilt, the single source and industry leader for risk management information, yesterday announced the integration of driving record data from First Advantage ADR, a leading provider of national driving record data, into the MicroBilt.com application. First Advantage ADR will provide motor vehicle record (MVR) data to MicroBilt.com in a standardized format with custom [...]
Issuers target with their direct mail offers those households with the most debt, lowest incomes, Mail Monitor reports.
Genpact (NYSE: G) Executive Vice President Tiger Tyagarajan was one of four individuals recognized this week by FAO Today magazine for outstanding accomplishment in finance & administrative outsourcing, the magazine has announced. Genpact manages business processes for companies around the world. Genpact operates service delivery centers in India, China, Hungary, Mexico, the Philippines, the Netherlands, [...]
The U.S. government and a cabal of the largest mortgage lenders in the country are close to an agreement that would temporarily freeze interest rates on subprime mortgages in danger of default, according to a front-page piece in Friday’s Wall Street Journal. The deal could be announced next week according to the Journal‘s sources. The [...]
The legislature is poised to pass a bill that meets many of Gov. Schwarzenegger’s requirements.
Major debt purchaser Hilco Receivables names a new chief of its portfolio acquisition program.
A Connecticut collection agency has been shut down by regulators there for improper use of debtors’ money and failing to open its financial records to the state. The Connecticut State Department of Banking recently issued a cease and desist order against Waterbury-based Accelerated Collections Systems, Inc., claiming that the firm denied the regulator access to [...]
A judge’s ruling that consumers can abuse the FDCPA with frivolous law suits has emboldened collection attorneys.