Debt collection

A long-awaited proposal to strengthen payday and small-dollar loan rules is nearing release by the Consumer Financial Protection Bureau more than nine months after the agency initially unveiled the plan.

Millennials starting their careers with $30,000 in student loans could enter retirement with far less savings than those without any education debt, according to research from the LIMRA Secure Retirement Institute.

Debt-buying giant PRA Group, based in Norfolk, Va., has seen negative operating leverage in recent years because of the effects of the global economy, according to Zacks Investment Research.

A bill in Wisconsin would help libraries collect overdue book fines by allowing them to share patron information and use collection agencies or law enforcement agencies.

Dealing with late and missed payments from creditors is a chronic complaint of small businesses. A U.K.-based startup aims to attack the problem with YayPay, an automated invoicing platform with a bill-collections feature that launched this week in the U.S.

Foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 104,111 U.S. properties in November, a nearly 10% drop from the previous month and down more than 7% from a year ago.

TransUnion has acquired Trustev, an e-commerce ID and fraud protection startup based in Ireland, in a $44 million deal - including $21 million initially and $23 million more contingent on meeting certain targets.

Industry groups representing a range of companies in retail, technology, financial services and utilities filed eight amicus briefs last week in a D.C. Circuit Court supporting challenges to the FCC's landmark ruling that expanded the agency’s rules under the TCPA.

JPMorgan Chase has shuffled three top executives in credit cards, mortgages and mortgage servicing.

Sections of a new proposal from Missouri Attorney General Chris Koster to curb debt collection practices he believes are abusive has the support of the Missouri Collectors Association.

U.S. District Judge Thomas M. Durkin denied requests for a new trial made by collection agency/mortgage servicer Residential Credit Solutions after it was ordered to pay $2 million to a woman who fought a foreclosure action brought by the firm.

Wyndham Hotels and Resorts agreed Wednesday to settle FTC charges that the company’s security practices unfairly exposed the payment card information of hundreds of thousands of consumers to hackers in three separate data breaches.

TransUnion predicts that the consumer lending market will have fully recovered by the end of next year from both the mortgage crisis and the recession that concluded more than six years ago.

A coalition of consumer groups wants the Consumer Financial Protection Bureau to investigate what it calls T-Mobile’s misleading advertisements and abusive debt collection practices.

Debt buyer PRA Group announced that Brad Embree was named to the 2015 Virginia Legal Elite, an annual list of top lawyers in Virginia as voted on by peers.

TransUnion Healthcare announced that its eScan healthcare service has identified more than $1 billion in insurance payments and helped hospitals recover more than $500 million in payments for unpaid medical services in the last three years.

Two recent Justice Department settlements, one with a large nonbank mortgage lender and the other with a small one, speak volumes about how much Federal Housing Administration lending has changed.

Outstanding consumer credit, a reflection of all debt besides mortgages, rose $15.98 billion or at a 5.5% annual rate in October, the Federal Reserve said Monday.

WASHINGTON — The Consumer Financial Protection Bureau is seeking $1.85 million in fines and restitution from EOS CCA, a Norwell, Mass., debt collection firm accused of holding on to a tainted AT&T portfolio of old cellphone bills.

A Massachusetts collection agency and debt buyer is the target of a federal complaint filed Monday by the Consumer Financial Protection Bureau. The agency is accused of reporting and collecting on old cellphone debts disputed by consumers.