State licensing officials and industry stakeholders are focusing attention on Washington’s collection-agency framework as the Department of Licensing convenes a public hearing on debt-collection issues. The Washington State Department of Licensing is hosting a public hearing involving the state’s debt-collection ...

NORFOLK, Va. — PRA Group Inc. has priced a private offering of $400 million in aggregate principal amount of 8.500% senior notes due 2033, with proceeds slated primarily to refinance outstanding borrowings under the debt buyer’s North American revolving credit ...

Bank / Credit Union September 28, 2026 Sunwest Bank has acquired Nano Banc with assistance from the Federal Deposit Insurance Corporation, according to a press release. This follows a seizure of Nano Bank by the California Department of Financial Protection ...

China’s campaign to move bad consumer loans off bank balance sheets is running into a collection-industry bottleneck. Heightened scrutiny of debt collectors is slowing recoveries, reducing the appeal of distressed consumer-loan portfolios and complicating banks’ efforts to dispose of a ...

Debt owed by emigrants may stay with banks as Kamco weighs non-acquisition amid poor recovery and rising leverage Korea Asset Management Corporation (KAMCO) is reviewing a plan not to acquire claims against migrants who left the country without repaying debts ...

NEW YORK — New York City’s new “Click-to-Cancel” rule took effect Oct. 1, giving the Department of Consumer and Worker Protection (DCWP) direct enforcement authority over businesses that make recurring subscriptions difficult to end. The rule requires a simple cancellation ...

Federal Trade Commission Chairman Andrew Ferguson is drawing a line for businesses using artificial intelligence agents: Giving software the power to act does not make the software responsible when something goes wrong. At a Reuters event Friday (Sept. 25), Ferguson pushed back on ...

The Federal Deposit Insurance Corp. has ended the independent monitorship established to oversee workplace-culture reforms following a 2024 investigation that found pervasive failures to protect employees from sexual harassment, discrimination and other misconduct. The agency said the work now shifts ...

Key insight: The Federal Reserve and Federal Deposit Insurance Corp. Tuesday questioned whether American Express' proposed single-buyer strategy could work, but those misgivings ultimately did not rise to the level of a formal objection. Supporting data: American Express' plan would ...