Consumer lending

Debt-buying giant PRA Group, based in Norfolk, Va., has hired Nancy Porter as vice president of corporate communications.

TracFone, the largest prepaid mobile provider in the U.S., will pay $40 million to the Federal Trade Commission to settle charges that it deceived millions of consumers with false promises of unlimited data service.

As regulators continue to scrutinize payday lending and associated products, a California startup thinks it has come up with a unique alternative for offering credit to those with lower credit scores — and some financial institutions are already signing up.

The Federal Deposit Insurance Corp. issued a letter Wednesday emphasizing that financial institutions should take a measured approach to banking relationships rather than cutting ties with entire lines of businesses.

SimpleFi is working with a New Jersey bank to pitch its payday loan alternative and financial educational services to employers across the country come February 1. It represents part of the trend of disruptors rethinking payroll data.

Arizona lawmakers voted Tuesday to expand a program that helps doctors repay their medical school debts if they agree to go where they are needed.

Consumer confidence in January rose to its highest point since before the recession, according to a new report.

Expert Global Solutions Inc., holding company of collection industry giant NCO Financial Systems Inc., has announced a large expansion in Virginia Beach, Va.

WASHINGTON — The Consumer Financial Protection Bureau issued a bulletin Tuesday warning financial institutions about entering into agreements with third parties that share or hide information related to regulatory exams.

The traditional method of measuring mortgage denial rates is fundamentally flawed and can produce mistaken conclusions about access to credit.

In Russia, according to a report from The Moscow Times, an alarming debt collection trend involves collectors seizing household pets from debtors who have defaulted on their loans.

South Dakota's Senate Commerce and Energy Committee was scheduled to hold a hearing Tuesday on a state Revenue Department proposal to open a state debt collection office.

The Supreme Court gave borrowers the path to file a rescission notice without going to court, but experts expect more banks to initiate legal proceedings to stop rescissions they see as frivolous.

Tax-related identity theft was the most common form of identity theft reported to the Federal Trade Commission in 2014, while the number of complaints from consumers about criminals impersonating IRS officials was nearly 24 times more than in 2013.

New legislation filed by U.S. Rep. John K. Delaney (D-Md.) would make student loans dischargeable under bankruptcy. Under existing law, student loan debt cannot be discharged.

The number of Americans buying autos neared a record high last year but a possible downside to the growth is drawing comparisons to the subprime mortgage boom.

WASHINGTON – The Consumer Financial Protection Bureau on Friday announced four appointments to the agency’s leadership team.

The Justice Department has subpoenaed another subprime auto lender as it extends its investigation into the industry.

Complaints filed with the Consumer Financial Protection Bureau in 2014 totaled 39,185, a number that should rise by a few hundred as the totals are refined in the coming weeks.

Overall consumer litigation against collection agencies and creditors fell in 2014 thanks to a third straight year seeing a decline in Fair Debt Collection Practices Act cases.