A committee in the Oregon House of Representatives next week will consider a bill that could place extensive new requirements on debt buyers that file collection lawsuits against consumers. In a public hearing late last month, debt buyers expressed opposition to the bill as introduced noting “this legislation has very significant problems.”
InVenio Financial, the debt purchasing affiliate of Phillips & Cohen Associates, Ltd (PCA), is delighted to announce the completion of a $25 million credit facility from U.S.-based Javlin Capital (Javlin), enabling InVenio to acquire increased volumes of deceased account portfolios across all the countries it services.
Attorney General Eric T. Schneiderman Wednesday announced a settlement with a publicly traded debt buyer that the AG said was prompted by the ARM firm’s practice of “bringing improper debt collection actions against hundreds of New York consumers” specifically on debts that were time-barred under state law.
DBA International is hosting a webinar on Wednesday, April 22nd on understanding the new risks in the bankruptcy claim process. Companies that participate in the bankruptcy claims process have faced a flood of litigation since the 2014 Crawford opinion by the Eleventh Circuit Court of Appeals.
The FTC Monday announced that it has reached final settlements with two debt portfolio brokers for disclosing too much personal information about debtors in online postings marketing their portfolios for sale. The FTC announced the cases last year, and today’s announcement highlighted new security requirements for the brokers going forward.
PRA Group (Nasdaq:PRAA), a global leader in acquiring defaulted receivables, was named a Global M&A Deal of the Year recipient in the M&A Atlas Awards for its acquisition of Norway-based Aktiv Kapital AS. PRA was selected as the Global M&A Deal of the Year in the $1 billion to $5 billion category. The award specifically […]
The Michigan Legislature adopted a resolution on March 26, 2015 recognizing and commending DBA International for its efforts to protect consumers and creditors through its national Receivables Management Certification Program.
DBA International’s Board of Directors is pleased to announce the appointment of Tim Sullivan (HS Financial Group, LLC) to the eleven-member DBA Certification Council. Sullivan was appointed to represent the interests of third party collection agencies.
Unifund Group (Unifund) announced today it has furthered its long term growth plan with the acquisition of First Resolution Investment Corporation (FRIC). The purchase includes all assets of FRIC, including approximately 72,000 accounts and a face value of $1B.
The CFPB announced Tuesday it is seeking public comment on how the credit card market is functioning and the impact of the Bureau’s credit card protections on consumers and issuers. This inquiry will focus on issues including credit card terms, the use of consumer disclosures, credit card debt collection practices, and rewards programs.