Debt Buying
N.C. Supreme Court Splits on Debt Collection Case
The Supreme Court of North Carolina voted three-to-three -- with one justice abstaining -- in a case involving a consumer...
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Appeals Court Revives Case for Debt Buyer Suing Creditor for Breach of Contract
The Court of Appeals for the Fifth Circuit has reversed a lower court's dismissal of a lawsuit filed by a...
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Portfolio Supply Remains Low, But Higher Default Rates are on the Horizon: PRA Group CEO
Decreasing supply of portfolios available to be purchased led to a marked drop in the amount of portfolio purchases by...
Read moreDetailsCourt Rules in Favor of OCC in ‘Valid When Made’ Suit
A District Court judge in California has sided with the Office of the Comptroller of the Currency, a federal regulator...
Read moreDetailsDebt Buyer Sues Citi for ‘Bait and Switch’ When Selling Portfolios
A debt buyer has filed suit against Citigroup, accusing the mega-bank of a "classic 'bait and switch' " by promising...
Read moreDetailsDebt Buyer Sued by CFPB Plans ‘Vigorous’ Defense
A debt buyer that was sued yesterday by the Consumer Financial Protection Bureau said in a statement that it intends...
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California Legislature Passes AB1020
The California state Senate has followed the Assembly in passing AB1020, a bill that would restrict hospitals from selling certain...
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Joel Tucker Sentenced to 12 Years in Prison for Role in Debt Selling Scam
Joel Tucker was ordered to immediately begin serving a prison term of 12.5 years yesterday and ordered to pay more...
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Minn. Gov. Signs Omnibus Bills into Law, Include Provisions For Debt Buyers
The governor of Minnesota has signed a number of omnibus bills into law, one of which contains provisions that expand...
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Senate Passes Bill Repealing OCC’s ‘True Lender’ Rule Aimed at Boosting Loan Sales
A repeal of a rule that aimed to close a gap in the process of banks selling loans to third...
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