Account Recovery
SEPTEMBER 10, 2021
Monterey Financial Services announced earlier this week that it had purchased Continental Central Credit. Monterey offers debt buying, servicing, and delinquent debt recovery solutions. Continental Central Credit is based in Carlsbad, Calif. Terms of the deal were not disclosed.
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.
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Account Recovery
APRIL 8, 2025
He led our expansion into two new markets, modernized the IT infrastructure and contact platforms, enhanced the data and analytics function and ultimately created one of Europe’s most cost-efficient debt buying platforms. Sjolund holds an MBA from the University of Chicago and is a graduate of Georgetown University.
Account Recovery
SEPTEMBER 19, 2024
Why it matters for the industry: For professionals working in collection agencies, debt buying firms, and financial services, this trend signifies increased competition and pressure to adopt similar “end-to-end” service models or risk falling behind in the market.
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
State Activities: On October 26, the Maryland Office of the Commissioner of Financial Regulation will host a free online information session for Maryland consumer debt collection agencies. On October 26, the Nevada’s Financial Institutions Division is holding a workshop on regulations pertaining to medical debt collections and S.B.
Troutman Sanders
OCTOBER 11, 2021
In the information session, “[f]ederal and state regulators and industry thought leaders will discuss the new federal rules for debt collection, the Maryland Consumer Debt Collection Act, medical debt collection, debt buying, consumer privacy and data security, the State Examination System, the use of technology to improve operations and compliance.”
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