STIMULUS PLAN ALSO SPARKS HOUSING MARKET
NEW YORK (CNNMoney.com) -- The economic stimulus plan announced Thursday by Congress and the Bush administration includes provisions that specifically address the mortgage crisis. It aims to make getting a mortgage easier and cheaper in high-cost markets, to facilitate refinancing and to prevent foreclosures.
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LAWMAKERS WORK TO OVERHAUL LENDING INDUSTRY
Lawmakers on Thursday continued moving toward an overhaul of the subprime mortgage lending industry as foreclosures continue to oust Californians from their homes at an unprecedented pace.
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BANK OF AMERICA CORPORATION PRICES $12 BILLION IN DEPOSITARY SHARES AND CONVERTIBLE PREFERRED STOCK
CHARLOTTE, N.C., Jan. 24 /PRNewswire/ -- Bank of America Corporation today announced the pricing of its recent public offerings, raising $12 billion in capital, which was well above the original $6 billion offering due to strong investor interest.
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DEBT RESOLVE APPOINTS KENNETH MONTGOMERY CHIEF EXECUTIVE OFFICER
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Jan. 25, 2008--Debt Resolve, Inc. (AMEX: DRV) announced today that Kenneth Montgomery has been appointed Chief Executive Officer, effective February 16, 2008, and that its Co-Chairman and Chief Executive Officer, James D. Burchetta, has elected to step down as CEO, as planned after the one-year anniversary of the initial public offering (IPO). Mr. Burchetta will remain an active member of the senior management team and has been appointed Chairman of the Board & Founder. He will continue to oversee investor relations, corporate strategy and product development. Debt Resolve also announced today that its Chief Financial Officer, David M. Rainey, has been named President.
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STIMULUS DEAL SEEKS $150 BIL IN REBATES, INVESTMENT CREDITS
The White House and House Democrats struck a deal Thursday on a $150 billion stimulus plan that will provide tax rebates to most U.S. households, but analysts say it likely won't lift consumer spending until late this year.
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EX-CFS CO-FOUNDER FACES TAX COLLECTION EFFORT
A collection agency working on behalf of the Oklahoma Tax Commission has initiated garnishment proceedings against Jay Jones, co-founder of Commercial Financial Ser vices Inc., to collect $2.3 million in back taxes and related penalties and fees.
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ONLINE MARKETERS OF PREPAID DEBIT CARDS TO SUBPRIME CONSUMERS WILL PAY MORE THAN $2.2 MILLION TO SETTLE FTC CHARGES
An operation marketing Visa- and MasterCard-branded prepaid debit cards to subprime consumers has agreed to settle Federal Trade Commission charges that it made unauthorized debits from consumers' bank accounts and engaged in deceptive marketing practices. The settlement requires the defendants to pay $2,258,258 for consumer redress, plus the proceeds from the sale of an automobile. In addition, one of the defendants, Dale Paul Cleveland, must pay taxing authorities an additional $667,288.
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COMMERCE BANK REPORTS DROP IN PROFITS
CHERRY HILL, N.J. - Commerce Bancorp Inc. today reported fourth-quarter profits were down 47 percent, as credit losses leaped in the wake of bad real estate and commercial loans.
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PUBLIC SERVICE CREDIT UNION WINS NORLARCO'S ASSETS
Public Service Credit Union of Denver will take over Norlarco Credit Union's $233.2 million in shares and deposits, the National Credit Union Administration board of directors voted this morning.
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WACHOVIA ECONOMIST AGAIN PREDICTS NO RECESSION
The chief economist for Wachovia Corp. believes key market indicators are showing some positive signs for the economy -- and, in a Florida speech Wednesday, reaffirmed his belief that the nation will avoid a recession.
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AMERICREDIT REPORTS $19.1M QUARTERLY LOSS
AmeriCredit Corp., a vehicle finance company known for lending to customers with less-than-perfect credit, has substantially cut its 2008 outlook after reporting a $19.1 million loss for the final three months of 2007. The company's adjusted outlook for its fiscal year, which ends June 30, went from predicted earnings of up to $320 million down to about $170 million.
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CAPITAL ONE REPORTS FOURTH QUARTER EARNINGS
MCLEAN, Va., Jan. 23 /PRNewswire-FirstCall/ -- Capital One Financial Corporation (NYSE: COF) today announced earnings for 2007 of $1.6 billion, or $3.97 per share (diluted). Earnings from continuing operations for the full year were $2.6 billion or $6.55 per share (diluted), versus the prior year's $2.4 billion, or $7.65 earnings per share (diluted). Net income for the fourth quarter of 2007 was $226.6 million, or $0.60 earnings per share (diluted). Fourth quarter 2007 earnings from continuing operations were $321.6 million, or $0.85 earnings per share (diluted) compared to $402.6 million, or $1.17 earnings per share (diluted) in the fourth quarter of 2006. These results are consistent with those reported by the company on January 10, 2008 and provide additional information regarding segment performance.
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GRANITE CITY MAN SUES LAW FIRM FOR UNFAIR DEBT COLLECTION PRACTICES
A Granite City man filed a federal lawsuit against a Chicago law firm alleging it violated the Fair Debt Collection Practices Act (FDCPA) when the firm sued him in Cook County rather than Madison County.
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STATE DATA PRIVACY LAWS REQUIRE INDUSTRY TO PROTECT PERSONAL IDENTITY INFORMATION.
39 states have passed consumer identity privacy and notification legislation requiring 1) protection of personal identity information and 2) notification where there is the possibility of compromised data. Failure to comply with these state regulations may result in fines, penalties and civil litigation costs in excess of $1 million.
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ONTARIO SYSTEMS RELEASES GUARANTEED CONTACTS IP
Ontario Systems has announced that the next generation of the Guaranteed Contacts telephony platform will be built on the voice over Internet protocol (VoIP) technology that is rapidly becoming a business standard.
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SALLIE MAE ANNOUNCES FOURTH-QUARTER AND FULL-YEAR 2007 RESULTS
RESTON, Va., Jan. 23, 2008-SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, today reported "core earnings" results that include a fourth-quarter 2007 net loss of $139 million, or $.36 diluted loss per share, and full-year 2007 net income of $560 million, or $1.23 diluted earnings per share.
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FAIR ISAAC AND IBM EXPAND GLOBAL ALLIANCE TO DELIVER DECISION MANAGEMENT APPLICATIONS
January 23, 2008 (Minneapolis, Minnesota, and Armonk, New York, USA) - Fair Isaac Corporation (NYSE: FIC) and IBM (NYSE: IBM) today announced a significantly expanded strategic alliance to create and deliver end-to-end financial services solutions powered by IBM's open technology to help clients better integrate information across the enterprise. As part of the alliance, Fair Isaac will optimize a new generation of its decision management software on the following IBM middleware: DB2, WebSphere, Rational tools, Lotus software, including Portal, and the IBM System z and System p platforms.
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DISCOVER FINANCIAL SERVICES TO PRESENT AT CITI FINANCIAL SERVICES CONFERENCE
RIVERWOODS, Ill., Jan 22, 2008 (BUSINESS WIRE) -- David Nelms, chief executive officer of Discover Financial Services, will present at the Citi Financial Services Conference at The Waldorf Astoria in New York City on Tuesday, Jan. 29, at 8:45 a.m. (Eastern).
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SPITZER PROPOSES HARDER TIMES BUDGET
NEW YORK -- Gov. Eliot Spitzer, seeking to resurrect his fiscal conservative image, couldn't have picked a better day to present a budget proposal calling for tough choices for hard times.
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CONVERGYS APPOINTS WILLIAM T. HIGGINBOTHAM AS VICE PRESIDENT AND COO OF ITS ACCOUNTS RECEIVABLE MANAGEMENT BUSINESS
January 22, 2008(Cincinnati and Olathe, Kansas; January 22, 2008) - Convergys Corporation (NYSE: CVG), the global leader in relationship management, announces the appointment of William T. Higginbotham to the position of Vice President Operations and Chief Operating Officer, Accounts Receivable Management. In this leadership role, Higginbotham will be responsible for the continued revenue growth and profitability of Convergys' Accounts Receivable Management business. He will report to Clint Streit, president of Customer Management at Convergys.
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PCI COMPLIANCE CONTINUED TO GROW IN 2007
Visa Inc. announced today that as of the end of 2007, more than three-fourths of the largest U.S. merchants and nearly two-thirds of medium-sized merchants have now validated their compliance with the Payment Card Industry Data Security Standard (PCI DSS). Merchants in these two categories account for approximately two-thirds of Visa's U.S. transaction volume.
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STARTLING JUMP IN CALIFORNIA FORECLOSURES
(01-22) 11:22 PST SAN FRANCISCO -- The housing market's vicious downward cycle wreaked more havoc in 2007, as record numbers of people in California and the Bay Area lost their homes to foreclosure, according to a report released Tuesday.
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FED CUTS RATES 75 BASIS POINTS IN EMERGENCY MOVE
Hoping to halt a market meltdown and prevent a recession, the Federal Reserve lowered its overnight lending rate by three quarters of a percentage point to 3.50% on Tuesday in a rare move between formal meetings.
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NATIONAL CITY CORPORATION LOWERS PRIME RATE TO 6.50 PERCENT
National City Corporation today announced on behalf of its subsidiary banks that it has lowered its prime rate to 6.50 percent from 7.25 percent, effective immediately. The rate was last changed on December 11, 2007, when National City lowered its prime rate to 7.25 percent from 7.50 percent.
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CALIFORNIA TAX BREAKS COSTLY, BUT POPULAR
DEMOCRATIC legislators in California want to raise taxes to close a whopping state budget deficit, but as they denounce Gov. Arnold Schwarzenegger's initial proposal to slash spending, they're shying away from directly calling for general tax increases.
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SALLIE MAE LAYING OFF WORKERS AMID FINANCIAL SQUEEZE
WASHINGTON - A $25 billion collapsed buyout offer and higher borrowing costs have prompted Sallie Mae, the nation's largest student lender, to lay off about 3 percent of its work force nationwide.
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BERMAN HOLDINGS TO ACQUIRE CARD PAYMENT PROCESSOR MERCHANT PROCESSING
Berman Holdings, Inc. (Pink Sheets:BRMN) today announced it has entered a letter of intent to acquire 100% of Merchant Processing International, Inc.
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PAULSON SEES COOPERATION ON STIMULUS PLAN
NEW YORK (CNNMoney.com) -- Treasury Secretary Henry Paulson said Tuesday he is confident the administration and Congress can work out a plan to stimulate the economy and expressed support for the Federal Reserve's decision to cut interest rates.
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FAIR ISAAC INTRODUCES DECISION TOOL KITS FOR LENDERS
Fair Isaac Corp. a provider of analytics and decision management technology, recently announced a new forward-looking decision tool kit for lenders.
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U.S. BANCORP LOWERS PRIME LENDING RATE
U.S. Bancorp announced it will lower its prime lending rate to 6.50 percent from 7.25 percent, effective after the close of business today, January 22, 2008, at all U.S. Bank locations.
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CONSUMERS CAN STILL FILE FOR BANKRUPTCY, BUT IT'S HARDER NOW
A little over two years since the enactment of a landmark bankruptcy reform law, debt-strapped consumers are finding it tougher to wipe out their bills.
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EMPLOYERS PAY MORE TO RELOCATE WORKERS
In what some analysts are calling the worst housing slump since the Great Depression, employers are paying more to get reluctant employees and new hires to sell their homes and relocate for work.
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A DEPLETED FED PLUGS AWAY
WASHINGTON - Federal Reserve policymakers are in one of their most critical periods in years as they work to prevent the economy from slipping into a deep downturn. And they are doing so short-staffed.
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TOUCHSTAR EARNS TWO MORE CALL CENTER TECHNOLOGY PRODUCT OF THE YEAR AWARDS
Denver, CO (PRWEB) January 18, 2008 - TouchStar, a rapidly growing call center technology provider, announced today that it received two more Product of the Year Awards. The awards were presented by Customer Interaction Solutions magazine and Internet Telephony magazine. TouchStar is recognized by both magazines for outstanding quality and innovation in its call center technology.
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| | Portfolios For Sale | $2,144,000.00 Consumer Loans
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?464
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$1,848,594.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?458
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$2,896,787.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?455
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$1,502,697.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?453
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$1,093,364.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?452
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
| | Agency | COMPASS FINANCIAL LLC
602-330-1340
OSI OUTSOURCING SOLUTIONS
985-626-7792
| | Attorney | UNDERWOOD LAW FIRM
314-621-4940
| | Brokers | HOUSE PAYMENT RESCUE INC.
775-287-4955
| | Consultants | CAPITAL FINANCE
562-505-0668
| | Debt Buyers | PROFESSIONAL RECOVERY SYSTEMS, LLC
Craig Manseth
877-596-2633
More Information
H. JOSHUA CHAET
847-436-0008
CREDITORS SERVICE COMPANY OF MICHIGAN INC
248-486-4245
| | Debt Registry | GLOBAL DEBT REGISTRY, LLC
Gregory S. Ousley
866-660-2341
More Information
| | Debt Sellers | PROFESSIONAL RECOVERY SYSTEMS, LLC
Craig Manseth
877-596-2633
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ARGONAUT FINANCIAL, LLC
Lee Dalby
760-746-6186
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| | Legal Networks/Services | CAPITOL LEGAL SUPPORT
817-320-4740
| | Licensing/Compliance | COMPLIANCE MANAGEMENT PARTNERS
David Mertz
913-712-9665
More Information
| | Risk Management/Metrics | MAXIMUM RECOVERY
888-881-0048
| | Skip Tracing | APEX DATA NETWORK INC
DENISE LEE
877-629-2739
More Information
CREDITORS SERVICE COMPANY OF MICHIGAN INC
248-486-4245
| | Software | SOUNDBITE COMMUNICATIONS
Debbie Braunert
888-465-7635
More Information
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|
Industry Events
|
Consumer Bankruptcy in Practice: A Webinar Series
American Bankruptcy Institute
Nashville, Tennessee
January 28, 2008
(703) 739-0800
More Information
DBA International 11th Annual Conference
DBA International
Mirage Hotel and Casino
Las Vegas, Nevada
February 5 - 7, 2008
(703) 610-0224
More Information
13th Rocky Mountain Bankruptcy Conference
American Bankruptcy Institute
Denver, Colorado
February 14 - 15, 2008
(703) 739-0800
More Information
16th Annual Bankruptcy Battleground West
American Bankruptcy Institute
Santa Monica, California
February 22, 2008
(703) 739-0800
More Information
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| At A Glance - Friday, April 11, 2008 |
| At A Glance - Wednesday, April 09, 2008 |
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| At A Glance - Friday, January 18, 2008 |
| At A Glance - Wednesday, January 16, 2008 |
| At A Glance - Friday, January 11, 2008 |
| At A Glance - Wednesday, January 09, 2008 |
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