Debt collection

Stoneleigh Recovery Associates, based in Lombard, Ill., has acquired R&B Collections Inc. of Roswell, Ga. in a deal funded through a mix of cash on hand and new debt.

A nursing home located in New Rochelle, N.Y. will pay $2.2 million to settle allegations that the business and its owner submitted more than 62,000 inflated claims to the New York State Medicaid Program.

The errors - attributed to software purchased by a vendor - resulted in inaccurate customer credit information being reported to the credit bureaus. The CFPB warns that blaming vendors for technical snafus is not acceptable.

A candidate for the Massachusetts Attorney General's office and consumer advocates are calling for a halt to a new state program that uses automated calls to collect undeserved unemployment benefits.

July marks a milestone month for complaints against debt collectors filed with the Consumer Financial Protection Bureau. On the statutory front, TCPA and FCRA lawsuits are both ahead of the year-ago pace.

Credit Karma must establish security programs to address risks during the development of applications and must undergo security reviews for 20 years under a settlement of Federal Trade Commission charges.

Default rates fell slightly in July to the lowest mark in more than 10 years, according to the S&P/Experian Consumer Credit Default Indices released Tuesday.

Falling property prices in the city triggered $1 billion of bad loans as buyers abandoned homes and stopped making mortgage payments, according to the country's Economy & Nation Weekly.

AB Acquisition LLC, an Idaho-based company that owns and operates several supermarket chains, reported confirmed that customers' credit and debit card data may have been compromised in a data breach.

Americans are spending more in 2014 compared to a year ago, apparently driven by Baby Boomers - although that generation is not necessarily spending for the things they want, according to a recent Gallup poll.

The New York Times Magazine is exploring the business of buying and collecting debt in a lengthy feature article looking at two companies and the collection professionals behind them.

U.S. consumer debt dropped in the last quarter for the first time in a year as mortgage originations fell to the lowest mark since 2000, according to the Federal Reserve Bank of New York's latest quarterly report.

Forster & Garbus, a Commack, N.Y.-based collection law firm, agreed Friday to settle charges that it illegally sued to collect on payday loans from New Yorkers.

U.S. foreclosure activity increased in July for the first time in four months as lenders scheduled more properties for auction, according to RealtyTrac, which compiles housing market data.

Federal lawmakers are calling on the Consumer Financial Protection Bureau and the Department of Defense to investigate a report that some retailers have filed debt collection lawsuits against active duty military.

An email spammer and his company have settled federal charges that they sent deceptive emails in advance of the Affordable Care Act roll-out, claiming consumers would be violating the law if they did not click a link to enroll in health insurance.

The guidance, issued to help licensed collection agencies comply with the Idaho Collection Agency Act, is a response to an Idaho Supreme Court decision that impacts the way collection agencies must operate.

Tuesday's action against the alleged bait-and-switch mortgage-lending scheme includes two companies and the owner of both of them.

ITT Educational Services Inc. has seen a large drop in its stock price and other woes amid a Consumer Financial Protection Bureau lawsuit and tightening regulatory scrutiny of for-profit colleges nationwide.

Security concerns are commonly cited as the reason for the lack of widespread adoption of mobile banking. But there is risk with every type of payment - lest we forget the growing list of recent major retailer and restaurant card data breaches.