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CFPB Releases Annual Complaint Report

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The number of debt collection complaints filed by consumers with the Consumer Financial Protection Bureau dropped 3% in 2018, to 81,500, and debt collection complaints accounted for 25% of all complaints filed with the agency last year, well behind credit reporting, which accounted for 38%. The data was released by …

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Transworld Buys Financial Services Arm of Altisource, Including Nationwide Credit

Transworld Systems has agreed to purchase the financial services business of Altisource Portfolio Solutions for $44 million. The transaction includes Nationwide Credit, Inc., a collection agency with more than 2,300 employees nationwide. It provides collections, customer relationship management, and call center outsourcing for companies in the financial, retail credit, mortgage …

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How Debt Hampers Recovery For the Homeless

Everybody — including those in the credit and collection industry — know that bad things often happen to good people. Not everyone is in debt because they choose not to pay their bills. Many people are victims of circumstance. And those stories can be heartbreaking. This is definitely one of …

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CFPB Has Scheduled Exams of Companies, Including Collectors, Outside its Jurisdiction: IG Report

The Consumer Financial Protection Bureau’s Division of Supervision, Enforcement and Fair Lending (SEFL) has “inadvertently” scheduled examinations at companies that are outside of its jurisdiction, because it did not have enough information about those companies, according to a report released last week from the agency’s Office of Inspector General. The …

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Tracking Down the Robocall ‘King’

Adrian Abramovich is described as the robocall “king” and has been fined $120 million by the Federal Communications Commission for making more than 100 million robocalls. WIRED Magazine gives Abramovich the deep-dive treatment, going into detail about how he was caught and giving him a chance to share his side …

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BillingTree Adds Proven Chief Operating Officer Terri Harwood to Executive Leadership Team

PHOENIX, March 28, 2019 /PRNewswire/ —BillingTree®, the payment problem solvers™, today announced Terri Harwood has been appointed Chief Operating Officer. In this newly created position, Ms. Harwood will lead BillingTree Operations during a period of rapid growth. Her experience and extensive expertise complement the company’s continued success in the target verticals of …

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Performant Announces 4Q, 2018 Financial Results

Performant Financial Corp. yesterday announced double-digit revenue increases for both the fourth quarter of 2018 and the full year compared with the same periods a year earlier. Revenue for the fourth quarter was $39.8 million, up from $33.3 million in the same quarter of 2017. For the whole year, revenue …

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