AG settles with debt collector; Cambridge, Malden bank merger complete

Attorney General Maura Healey on Thursday settled with a medical debt collection agency accused of exposing the personal information of at least 7 million people nationally, including 113,000 Massachusetts residents.

Forty-one attorneys general reached the settlement with Retrieval-Masters Creditors Bureau, which was doing business as American Medical Collection Agency and collected debts on behalf of medical providers and testing labs, she said. The company has declared bankruptcy.

The multistate settlement, which has been approved by the bankruptcy court, assesses $21 million in penalties, Healey said. Because of the company’s financial condition, that payment is suspended unless the company violates certain terms of the settlement agreement.

Bank merger complete

Cambridge Savings Bank — and its $5 billion in assets — announced all Melrose Bank customers are now part of the business.

That includes 17 locations that will now be added to the business. The bank acquired Melrose Bank on June 1, 2020.

“Expanding into Melrose is an exciting opportunity for us to serve a diverse and growing community,” said Wayne Patenaude, president and CEO at Cambridge Savings Bank.

“We are a relationship-centric bank driven by a passion for helping people — individuals, families and small businesses,” he added in Thursday’s announcement. “It was important that we established a positive presence in Melrose and demonstrate the tangible value we bring to the community.”