Debt collection

Abandoned homes in New York City that are stuck in foreclosure proceedings jumped 38% rise in 2014. State officials are pushing for legislation to make banks and mortgage lenders more responsible.

Corinthian Colleges, the for-profit chain of colleges under fire in the last year for leaving students with unsustainable debt levels and lackluster job prospects, announced it's shutting down its remaining 28 campuses effective Monday.

In China, a new report from PwC, indicates banks are dealing with a surge in bad loans as a result of slowing economic growth.

Debt-buying giant PRA Group Inc., which purchases consumer debt from banks and other creditors, has named Deborah Cassidy as its chief information officer.

The Federal Trade Commission and the Office of the New York Attorney General will host an event on June 15, in Buffalo, N.Y. to discuss consumer protection issues with the debt collection industry.

Convergent Revenue Cycle Management Inc., a national healthcare revenue cycle management provider, has announced that Mark Schanck has been promoted to company president.

Navient Corp. released Q1 financial results on Thursday that include $830 million of student loan purchases, $300 million of common share repurchases and the acquisition of a new asset recovery and business process outsourcing firm focused on state and local public sector markets.

The owner of Green Tree Servicing LLC has responded to the settlement announced this week with the Federal Trade Commission and Consumer Financial Protection Bureau.

Hospital patients felt an increased financial burden in 2014 as medical costs rose while revolving credit became less available, according to a new report.

A national mortgage servicing company will pay $63 million to resolve FTC and CFPB charges that it harmed homeowners with illegal debt collection practices and loan servicing.

The Oregon House of Representatives on Tuesday is reviewing a bill that would place new, stronger requirements on debt buyers that file collection lawsuits.

AT&T and Verizon aren’t doing enough to protect customers from robocalls, according to Consumers Union, the policy and advocacy arm of Consumer Reports.

The 114th Congress is again considering legislation to allow borrowers with outstanding student loan debt to refinance at rates set for new borrowers.

Global Debt Registry has signed a deal with credit bureau giant TransUnion to battle faulty collection practices within the $3.3 trillion market for unsecured consumer debt.

WASHINGTON — Consumers may see little change in the ultimate cost of Fannie Mae or Freddie Mac loans despite a restructuring of certain loan fees announced Friday by the Federal Housing Finance Agency.

With the Education Department nearing a deal with Navient Corp. over allegations the company cheated active-duty troops on federal student loans, the end could be near for a much delayed and heavily criticized investigation.

The Consumer Financial Protection Bureau issued a final rule Wednesday aimed at improving the way that companies submit consumer credit card agreements to the Bureau.

U.S. foreclosure activity rose sharply in March on an increase in bank repossessions, but dropped in the first quarter to the lowest mark in eight years, according to a report by industry firm RealtyTrac.

The Federal Trade Commission on Wednesday, in testimony before Congress, detailed the agency’s education and outreach efforts against identity theft and Internal Revenue Service imposter scams.

Debt buyer Asta Funding agreed Wednesday to settle charges brought by New York regulators for allegedly pursuing improper debt collection tactics against hundreds of consumers in the state.