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Consumers Flood CFPB With Comments Opposing Proposed Rule

More than 3,000 comments opposing the proposed debt collection rule were published yesterday, filed by consumers who voiced their concerns and dislike for the Consumer Financial Protection Bureau’s proposal, while not necessarily getting into specifics and containing some rhetoric that even the director of the CFPB has sought to quash. …

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Profits Up at Encore Capital Group

Encore Capital Group reported net income of $36.8 million for the second quarter of 2019, up from $26.9 million in the same period a year ago, with the release of the company’s quarterly financials. During the second quarter, the company purchased $243 million in portfolios, $180 million of which was …

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WaPo Goes Deep on Time-Barred Debts

Debts where the statute of limitations have expired are a tricky business. Companies are reluctant to just write off the debt as uncollectible, but the labyrinth of state laws make the collection of such unpaid debts a potential minefield of legal problems. The Washington Post tries to shed some light …

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M&A Activity in ARM Industry Picks Up in 2Q

After a fairly slow start to 2019, merger & acquisition activity in the accounts receivable management space picked up in the second quarter, according to data released by Corporate Advisory Solutions. There were 14 deals in the second quarter, with a total enterprise value of $957 million. That compares with …

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Industry Veteran Named to State Collection Board

Congratulations to a very good friend of AccountsRecovery.net, Mike Hiller from American Profit Recovery, for being named to the Michigan Collection Practices Board by Gov. Gretchen Whitmer. Hiller, who is a frequent speaker on webinars produced by AccountsRecovery.net, had previously served as a Subject Matter Expert (SME) for the state’s …

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