Collections Debt Buying Financial services 
Account Recovery
MARCH 14, 2025
A collection operation in Indiana that was the subject of a Consumer Financial Protection Bureau enforcement order back in 2023 has closed its doors for good, leaving nearly 100 employees looking for work. The collection agency may be associated with a debt buying operation that also recently shut its doors.
Account Recovery
APRIL 8, 2025
Nasdaq: PRAA), a global leader inacquiring and collecting nonperforming loans, today announced that its Board of Directors has appointed President of PRA Group Europe Martin Sjolund to serve as President and Chief Executive Officer (CEO), effective June 17, 2025. PRA Group, Inc.(Nasdaq:
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Account Recovery
SEPTEMBER 19, 2024
The healthcare industry is facing an alarming rise in medical debt, with private equity firms playing an increasingly dominant role. These firms have been instrumental in creating and collecting medical debt through strategic acquisitions of hospitals, health systems, and debt collection agencies. Learn more.
Troutman Sanders
JUNE 21, 2023
On June 14, CFPB Director Rohit Chopra issued an opening statement before the House Committee on Financial Services, which included an update as to the CFPB’s mandated objectives and alerts for “shocks to the system that might unsettle household financial stability.” For more information, click here.
Troutman Sanders
OCTOBER 19, 2021
On October 15, the Department of Education announced that it has awarded contracts to six different companies that will be responsible for servicing and collecting federal student loans. These FAQs are a Compliance Aid designed to help collection agencies comply with Reg F, which goes into effect on November 30, 2021.
Troutman Sanders
OCTOBER 11, 2021
On October 1, the CFPB published a set of Frequently Asked Questions (FAQs) on limited-content messages and the call frequency provisions in the Debt Collection Rule (Regulation F) that will go into effect on November 30. For more information, click here. For more information, click here.
Troutman Sanders
NOVEMBER 30, 2021
We will continue to offer webinars related to legal issues and recent decisions affecting the consumer financial services industry caused by COVID-19 or otherwise. If you have any questions about this series, please contact us. VISIT OUR BLOG FOR REGULAR UPDATES.
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