General News

The Consumer Financial Protection Bureau announced the hiring of a student loan ombudsman on Friday, but the individual who was hired has rankled consumer advocates and liberal lawmakers and the job description for the position appears to have changed from its original oversight responsibilities. Robert G. Cameron was named the …

In an effort to help it continue to focus on its key markets, which include the United States, Encore Capital Group has completed the sale of Baycorp to Credit Corp Group. Baycorp specialized in the “management of non-performing loans in Australia and New Zealand,” and provided “portfolio management services for …

Monday, Aug. 19 was due to be the original deadline for comments related to the Consumer Financial Protection Bureau’s proposed rule, before the deadline was extended by 30 days to Sept. 18. But at least a small handful of organizations appear to not need any additional time and filed their …

A fairly popular mainstream media blog is urging consumers to file comments over the Consumer Financial Protection Bureau’s proposed debt collection rule, specifically recommending that the comments indicate that consumers don’t want to receive text messages from debt collectors. And, coincidentally enough, a number of new comments were published yesterday …

Performant Financial Corp. announced a 14% increase in revenue for the second quarter, compared with the same period a year ago, but a net loss of $6.4 million, down from $3.6 million last year. The company continued to tout its expansion into the healthcare market as it de-emphasizes its focus …

PRA Group has scaled back on plans to open a new call center in Danville, Va., and has also delayed the timeline for opening the new facility, according to a published report. After originally committing to hiring 500 employees for the call center and investing $15 million, PRA will now …

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. …

Full credit goes to the folks at Encore Capital, which continues to flood the Consumer Financial Protection Bureau with comments supporting the agency’s proposed debt collection rule. Hundreds of more comments were submitted last week by employees at the company, many of which all took the same form and used …

Net income at PRA Group dropped slightly to $18.6 million during the second quarter of 2019, down from $19.6 million during the same quarter of last year, the company announced yesterday. The company announced a record amount of collections — $470.3 million, or 16% higher than the second quarter of …

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 …