THE FEDERAL RESERVE ON FRIDAY ANNOUNCED TWO INITIATIVES TO ADDRESS HEIGHTENED LIQUIDITY PRESSURES IN TERM FUNDING MARKETS.
First, the amounts outstanding in the Term Auction Facility (TAF) will be increased to $100 billion. The auctions on March 10 and March 24 each will be increased to $50 billion--an increase of $20 billion from the amounts that were announced for these auctions on February 29.
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DISCOVER FINANCIAL SERVICES ANNOUNCES FIRST QUARTER 2008 EARNINGS RELEASE AND CONFERENCE CALL
RIVERWOODS, Ill.--Discover Financial Services (NYSE: DFS) plans to report its first quarter 2008 results before the market opens on Wednesday, March 19, 2008. The earnings release will be available on Discover's corporate Web site at www.discoverfinancial.com.
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CONGRESS TO CREDIT CARD COMPANIES: 'PLAY FAIR'; RETAILERS APPLAUD INTRODUCTION OF ‘CREDIT CARD FAIR FEE ACT'
Today House Judiciary Committee Chairman John Conyers (D-MI) and Rep. Chris Cannon (R-UT) introduced the Credit Card Fair Fee Act, legislation that for the first time deals with the biggest credit card fee of all - the interchange fee, which grew to $36 billion in 2006.
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FTC CAUTIONS CONSUMERS ABOUT TAX AND REBATE SCAMS
The Federal Trade Commission is cautioning consumers looking forward to rebate checks from the government that they may be targets of scammers out to steal their identity. The agency has issued an alert to help consumers avoid this situation.
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JOBS PLUNGE BY 63,000, WORST SINCE 2003; FED STEPS IN
WASHINGTON - Employers cut jobs for a second month in February while the unemployment rate fell as more people quit looking for work in the weakening job market, the government said Friday in a report that led to further calls of a 2008 recession.
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NAFCU CALLS FOR REGULATORY RELIEF FOR CREDIT UNIONS
WASHINGTON - Mike Lussier, president and CEO of Webster First Federal Credit Union in Webster, Mass., testified today before the House Financial Services Committee on behalf of the National Association of Federal Credit Unions (www.nafcu.org). Lussier, who serves as NAFCU's treasurer and a director-at-large, outlined the association's recommendations for regulatory relief and improvements for credit unions.
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RESOURCE MANAGEMENT SERVICES, INC. TO HOLD AGENCY AUDITOR TRAINING COURSE
Resource Management Services, Inc. has scheduled a Spring session of their Agency Auditor Training Course for April 8 - 11, 2008.
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WAMU REWRITES EXECUTIVES' BONUS PLAN TO DODGE SUBPRIME DAMAGE
WaMu has revised its bonus plan for nearly 3,000 top executives so continuing damage from the subprime lending collapse won't crimp their annual awards.
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B. OF A. SAYS MERGER ON DESPITE COUNTRYWIDE WOES
NEW YORK (MarketWatch) -- Bank of America Corp.'s acquisition of struggling mortgage company Countrywide Financial Corp. is proceeding as planned despite skyrocketing delinquency rates in the lender's mortgage portfolio, the bank said Wednesday.
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CHASE BANK ACCUSES FLORIDA LAW FIRMS OF RUNNING DEBT-RELIEF SCAM
Chase Bank USA is suing two Coral Springs, Fla., attorneys specializing in reducing consumer debt and South Florida affiliates, claiming they are engaging in blatantly illegal and fraudulent practices.
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FED: ECONOMY HAS WEAKENED AS CONSUMERS TURN CAUTIOUS
WASHINGTON - Economic growth has slowed across much of the country since early January, while price pressures have escalated, the Federal Reserve said Wednesday in a downbeat snapshot of business conditions.
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FORECLOSURES HIT ALL-TIME HIGH
NEW YORK (CNNMoney.com) -- More home owners than ever are losing the battle to make their monthly mortgage payments.
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NORFOLK FINANCIAL LAUNCHES DEBT EDUCATION SITE
In conjunction with the 10th Annual National Consumer Protection Week, March 2-8, Norfolk Financial Corp. is announcing www.letstalkaboutdebt.com, their new consumer financial education web site.
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RESOURCE MANAGEMENT SERVICES, INC. ANNOUNCES RECOVERY MANAGEMENT STRATEGIES AND TECHNIQUES CLASS
The leader in Agency Management auditing and consulting has announced two sessions of Recovery Management Strategies and Techniques, a two-day classroom course designed to assist Creditor and Debt Buyer Recovery Managers with fundamental and advanced strategies, plans, and tools for managing an outside vendor recovery operation.
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MORE SIGNS OF JOB WEAKNESS IN FEBRUARY, REPORTS SHOW
February was another bad month for jobs as two key employment reports showed more signs of labor weakness Wednesday.
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BERNANKE: MORE MORTGAGE, HOME WOES AHEAD
NEW YORK (CNNMoney.com) -- Mortgage delinquencies and foreclosures will continue to rise for a while longer and further declines in house prices are likely, Federal Reserve Chairman Ben Bernanke said Tuesday.
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AUSTIN LOGISTICS' CALLTECH AND ONQ SOLUTION NOW RATED "AVAYA COMPLIANT"
Austin Logistics, a leading provider of event based analytic solutions, today announced that its CallTech and OnQ solutions are compliant with Proactive Contact System 3.0 solution from Avaya, a leading global provider of business communications applications, systems and services.
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TRANSUNION COLLECTION RECOVERY MODELS STAND THE TEST OF TIME
NEW ORLEANS, March 5 /PRNewswire/ -- TransUnion today announced at the 12th Annual National Collections & Credit Risk Conference that a revalidation of the company's collections recovery models confirms that they continue to perform at exceptional levels despite today's dynamic market conditions. The incidence-based models, which help collections organizations identify which customers are most likely to repay their debts in order to prioritize work effort, also assist organizations in creating cost-effective treatment strategies based on the likelihood of repayment.
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IRS REHIRES PRIVATE TAX COLLECTORS
The Internal Revenue Service has decided to renew the contracts of two companies involved in its controversial private debt collection program.
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VERIFACTS ANNOUNCES KEY PROMOTION
VERIFACTS, Inc. announced today the promotion of a key executive member. Charly Filipek was promoted to Senior Vice President of Strategic Development for VeriFacts.
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EXPERIAN'S COLLECTION TRIGGERSSM DRIVES SUCCESSFUL COLLECTIONS FOR FIRST AMERICAN INVESTMENT COMPANY
Experian, a global information services company, today announced that First American Investment Company's implementation of Collection TriggersSM has significantly improved profits for the debt-buying organization.
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FACTA MANDATES APPLY TO CREDIT, COLLECTION AND DEBT BUYING INDUSTRY
FACTA Mandates Apply to Credit, Collection and Debt Buying Industry CMP delivers customized solutions which meet FACTA requirements for Identity Theft Protection Program.
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FED OFFICIALS DEBATE RECESSION RISK
NEW YORK (CNNMoney.com) -- Two members of the Federal Reserve's rate-setting body gave conflicting speeches Tuesday as to whether rising inflation or a recession is the greater risk for the economy,
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STEVEN GALE JOINS FAMS' SENIOR MANAGEMENT TEAM
Financial Asset Management Systems, Inc. (FAMS) is pleased to announce the addition of Steven Gale to its senior management team. Mr. Gale joins FAMS as Senior Vice President of Operations.
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IAT CELEBRATES 22 YEARS OF DIALING TECHNOLOGY SUCCESS
Salt Lake City, UT, IAT celebrates 22 years of success in the dialing
technology industry on March 6, 2008. They attribute this unusual longevity and success in
the industry to a focus on customer service and a drive to provide the very best in collectionspecific
products and services.
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STATEMENT OF FDIC CHAIRMAN BAIR ON ENCOURAGING SERVICERS TO REPORT LOAN MODIFICATION EFFORTS TO HOPE NOW ALLIANCE
Federal Deposit Insurance Corporation Chairman Sheila C. Bair said, "The Financial Institution Letter released today strongly encourages state nonmember institution mortgage servicers to report their loan modification and foreclosure prevention efforts through the HOPE NOW Alliance, and to also support efforts of the State Foreclosure Prevention Working Group. Accurate reporting about loan modification efforts is essential to an improved understanding by the public and policy makers of progress in responding to growing mortgage delinquencies and foreclosures."
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TSYS LAUNCHES THE INDUSTRY'S MOST ADVANCED HEALTHCARE BENEFITS PAYMENTS SYSTEM
TSYS Healthcare today announced the successful market launch of the industry's most advanced benefits payments system. Fringe Benefits Management Company (FBMC), the first third-party administrator to use this innovative solution, offers its subscribers the ability to pay from multiple healthcare tax-advantaged accounts, credit accounts and cash accounts through a single card.
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STUDENT LENDER SETTLES FTC CHARGES THAT IT FAILED TO SAFEGUARD SENSITIVE CONSUMER INFORMATION AND MISREPRESENTED ITS SECURITY PRACTICES
A student loan company has agreed to settle Federal Trade Commission charges that it failed to provide reasonable and appropriate security for consumers' sensitive personal information in violation of federal law. The proposed settlement will require the company to implement a comprehensive information-security program and obtain audits by an independent third-party security professional every other year for 10 years.
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CONVERGYS IMPLEMENTS RELATIONSHIP MANAGEMENT SOLUTION FOR ANOTHER LARGE U.S. WIRELESS OPERATOR
Convergys Corporation (NYSE: CVG), a global leader in relationship management, announced today that another large U.S. wireless operator with millions of subscribers has gone live with a Convergys Relationship Management Solution that enables centralized policy creation and management as well as automated, real time, and proactive policy enforcement across all channels.
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COMMERCE FOR CHANGE IS UNVEILED TO CREATE JOBS AND STIMULATE THE GLOBAL ECONOMY
Denver, CO - Commerce For Change (www.commerceforchange.org) is today unveiled to change the world. Commerce For Change is an organization of businesses, governments, and institutions that work together to create jobs for remote teleservices and call center workers in areas that are disadvantaged, remote, emerging from conflict, or recovering from disaster.
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| DebtConnection.com is a searchable database of collection products and services.
The following Updates and New Entries occured since the last At A Glance was sent: | | | Portfolios For Sale | $750,485.00 Credit Cards
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?491
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$4,983,071.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?486
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$1,848,594.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?484
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
| | Agency | EXECUTIVE PROFIT & RECOVERY, INC
866-761-2310
NORTHERN CALIFORNIA ASSET MANAGEMENT & RECOVERY
916-362-7194
BROWN AND JOSEPH, LTD
866-867-8970
| | Attorney | ERIC M. BERMAN, P.C.
631-486-4900
| | Contact Solutions/Dialers | SINGLE SOURCE TELECOM
303-495-2145
| | Debt Buyers | SOUTH LAKE FINANCIAL SERVICES
732-363-1226
| | Debt Sellers | NORTHERN CALIFORNIA ASSET MANAGEMENT & RECOVERY
916-362-7194
| | Scoring/Scrubbing | ACXIOM
888-259-6173
| | Skip Tracing | ACXIOM
888-259-6173
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Industry Events
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Credit & Collection Business Academy
ACA International
Delray Beach Marriott
Delray Beach, Florida
March 9 - 12, 2008
(952) 928-8000 Ext. 125
More Information
NASP 2008 Subrogation Litigation Skills Conference
National Association of Subrogation Professionals (NASP)
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
March 27 - 28, 2008
(800) 574-9961
More Information
26th Annual Spring Meeting
American Bankruptcy Institute
Renaissance Hotel
Washington, DC
April 3 - 6, 2008
(703) 739-0800
More Information
Auditor Training Course 2008 for Creditors and Debt Buyers
Resource Management Services, Inc.
Southern California
April 8 - 11, 2008
(562) 906-1101
More Information
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| At A Glance - Wednesday, May 07, 2008 |
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| At A Glance - Wednesday, April 23, 2008 |
| At A Glance - Friday, April 18, 2008 |
| At A Glance - Wednesday, April 16, 2008 |
| At A Glance - Friday, April 11, 2008 |
| At A Glance - Wednesday, April 09, 2008 |
| At A Glance - Friday, April 04, 2008 |
| At A Glance - Wednesday, April 02, 2008 |
| At A Glance - Friday, March 28, 2008 |
| At A Glance - Wednesday, March 26, 2008 |
| At A Glance - Friday, March 21, 2008 |
| At A Glance - Wednesday, March 19, 2008 |
| At A Glance - Friday, March 14, 2008 |
| At A Glance - Wednesday, March 12, 2008 |
| At A Glance - Friday, March 07, 2008 |
| At A Glance - Wednesday, March 05, 2008 |
| At A Glance - Friday, February 29, 2008 |
| At A Glance - Wednesday, February 27, 2008 |
| At A Glance - Friday, February 22, 2008 |
| At A Glance - Wednesday, February 20, 2008 |
| At A Glance - Friday, February 15, 2008 |
| At A Glance - Wednesday, February 13, 2008 |
| At A Glance - Friday, February 08, 2008 |
| At A Glance - Wednesday, February 06, 2008 |
| At A Glance - Wednesday, January 30, 2008 |
| At A Glance - Friday, January 25, 2008 |
| At A Glance - Tuesday, January 22, 2008 |
| 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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