Debt collection

Account growth has become the number one priority for lenders as they cautiously begin to grant more credit to consumers. However, with a limited pool of potential customers and a desire to avoid taking on too much risk this is not an easy task.

The Federal Trade Commission announced Friday law enforcement actions against several scams that targeted homeowners behind in their mortgage payments or facing foreclosure.

A U.S. District Court jury in Cincinnati found homebuilder Bernard J. Kurlemann guilty of conspiracy and fraud for his role in a mortgage fraud scheme aimed at deceiving lenders by agreeing to sell high-end luxury properties to "straw buyers" - individuals who buy properties in name only.

The Federal Trade Commission began mailing refund checks Wednesday to 957,928 people who were victims of false claims made by LifeLock Inc., which told consumers it could provide absolute protection from identity theft if they signed up for its identity protection service. The mailings will continue for two weeks.

With fewer borrowers delinquent on one or more accounts, U.S. consumers' credit risk level dropped in the third quarter ended Sept. 30 to a mark not seen since the first quarter of 2009, according to TransUnion's Credit Risk Index (CRI) released Wednesday.

A federal district court in Chicago shut down an international robocall ring that allegedly conned consumers out of $995 each with false promises to reduce their credit card interest rates.

A New Jersey lawyer and his Pennsylvania-based collection agencies must cancel nearly $8 million in alleged debt they tried to collect from more than 1,900 West Virginia residents, West Virginia Attorney General Darrell McGraw's office announced Tuesday.

ACA International announced Tuesday that it did not renew longtime CEO Rozanne Andersen's employment contract and has replaced her effective immediately.

Illinois Attorney General Lisa Madigan filed a lawsuit last week against Omega Business Center, a Chicago-based business, claiming it bilked consumers out of an estimated $300,000 for debt relief services it never provided.

U.S. home foreclosures fell in October as banks put a freeze on auctions of homes in default to review loan documents in wake of a recent "robo-signing" controversy.

The total number of consumer statute lawsuits filed in the Oct. 16-31 period reached 503, a slight increase from 497 in the first half of October and bringing the month's total to 1,000, according to data from U.S. District Courts.

Preferred Financial Solutions Inc., an Indianapolis-based debt settlement company, has paid $175,000 to West Virginia as part of a settlement with the state's attorney general involving its operations.

A federal court entered a judgment of more than $3.6 million against a payment processor and its subsidiary that allegedly debited consumers’ bank accounts illegally on behalf of deceptive telemarketers, the Federal Trade Commission (FTC) announced Friday.

Unicredit America Inc., an Erie, Pa.-based collection agency, collected money from unsuspecting consumers by pretending to hold hearings in a room decorated to look like a courtroom, according to a lawsuit filed Friday against the company in Pennsylvania.

AscendOne Corp., a Columbia, Md.-based debt management business, will pay $4.5 million to settle charges that the company misled consumers about its for-profit status.

Commercial Collection Agency Association (CCAA) members reported a 16.5% decline in the dollar amount of B2B accounts received for collection in the third quarter compared with the year-ago period.

Portfolio Recovery Associates Inc., an accounts receivable management company and debt buyer, reported net income of $18.5 million for the quarter ended September 30, an 83% increase from $10.1 million in the same period a year earlier.

A credit repair operation has agreed to stop making false claims and stop charging upfront fees under a settlement with the Federal Trade Commission.

The Federal Trade Commission told the Equal Employment Opportunity Commission on Wednesday that the Fair Credit Reporting Act (FCRA) imposes requirements on Consumer Reporting Agencies (CRAs) - which include the three major credit bureaus - and on employers that use the information “to ensure that sensitive consumer report information is used with fairness, impartiality and respect for consumers’ privacy.”

An online marketer that falsely claimed ties to Google Inc. has been forced to stop operations as part of a Federal Trade Commission action that charged the defendants with marketing an allegedly bogus work-at-home scheme and charging hidden monthly fees to consumers’ credit card and bank accounts.