Retail & Commercial

Account Control Technology Holdings Inc. announced Tuesday the acquisition of Convergent Resources Holdings LLC. in a deal that will create a business processing outsourcing firm with more than 3,900 employees and 20 offices.

The law will reduce from 12 years to three the time debt collectors have to pursue homeowners in court for fore­closure debt.

Seven years after the onset of the housing crisis, many homeowners continue to face unfair and unnecessary foreclosures. Regulators can help remedy the situation by prioritizing greater transparency in mortgage relief and securing funding for housing counselors and legal advocates.

The Commercial Law League of America has debuted its newly revised commercial collection agency certification program.

CommunityOne Bancorp (COB) in Asheboro, N.C., plans to sell stock it issued the Treasury Department as part of the Troubled Asset Relief Program.

U.S. Sen. Pat Toomey (R-Pa.) has introduced a bill with bi-partisan support that exempts collection attorneys engaging in litigation from the Fair Debt Collection Practices Act.

New York Attorney General Eric Schneiderman on Monday renewed calls for the state legislature to address the problem of "zombie properties," or foreclosed homes that banks have walked away from to avoid the cost of maintenance.

The Rent Stabilization Association of New York, a landlord group, and Housing Partnership, a nonprofit, have jointly launched a brokerage to connect owners of small and midsize New York apartment buildings with banks and lenders.

Many people in Florida were sure that M&A would pass over the Sunshine State for years after the financial crisis. But a recent influx of deals suggests that Florida hasn't lost its luster.

A new Federal Deposit Insurance Corp. report says agricultural lending by banks in areas with a declining customer base gave those institutions an advantage in weathering the downturn.