DebtConnection.com

BANKS IN VISA CONSORTIUM SCORE WINDFALL
A half-dozen U.S. banks who are the principal shareholders of transaction processing firm Visa Inc. on Tuesday evening found out just what their roughly 58% stake in the firm is worth: about $10.4 billion.
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FDIC HIGHLIGHTS BANK STRATEGIES FOR ENCOURAGING LOW- AND MODERATE-INCOME HOUSEHOLDS TO SAVE
In the current issue of FDIC Quarterly, released today, the FDIC examines the challenges that lower-income households face in increasing personal saving, incentives banks have for encouraging these households to build assets, and strategies for banks to broaden their relationships with these customers.
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DISCOVER PROFIT DIPS AFTER UK UNIT SALE
Discover Financial Services LLC said Wednesday its fiscal first-quarter profit fell 65 percent to $81.2 million after shedding its card business in Britain and preparing for more U.S. cardholders to default on their loans.
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MCDANIEL DEMANDS TERMINATION OF PAYDAY LENDING IN ARKANSAS
LITTLE ROCK - Attorney General Dustin McDaniel announced today that he is sending letters to "payday lending" businesses operating under a license in Arkansas, asking them to stop the practice immediately. McDaniel defines "payday" lending as short term loans that charge interest in amounts that vastly exceed the usury limit imposed by the Constitution of the State of Arkansas.
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WELLS FARGO FIRST TO OFFER RETAIL BANKING CUSTOMERS A PERSONAL ONLINE SAFE
Wells Fargo & Company (NYSE: WFC) today announced the Wells Fargo vSafe service, the first online storage solution from a financial institution that lets retail banking customers store and organize copies of important materials, such as financial statements, loan and tax documents, wills, passports, and birth, marriage and death certificates.
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TARGET'S INNER CIRCLE
You'd think Robert Ulrich would be warming up for his victory lap right about now. The soon-to-retire CEO of Target Corp. should be easing into a lavish farewell tour filled with teary thank-yous, champagne-soaked sendoffs, and a book of leadership secrets.
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MORGAN STANLEY'S QUARTERLY PROFIT FALLS 42%
Morgan Stanley's first-quarter net earnings dropped 42% as revenue also fell, the investment bank said Wednesday, but the results beat consensus forecasts that have been knocked down by the credit crunch.
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NEW FANNIE, FREDDIE RULES: $200B FOR MORTGAGES
Federal regulators said Wednesday they would allow mortgage finance giants Fannie Mae and Freddie Mac to reduce the capital they are required to keep on hand, a move that could pump $200 billion into mortgage markets.
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CONVERGYS CHOSEN AS A PREFERRED SOLUTIONS PROVIDER FOR U.S. FEDERAL GOVERNMENT AGENCIES
Convergys Corporation (NYSE: CVG), a global leader in Relationship Management, announced today that the U.S. General Services Administration (GSA) has named it a preferred contact center solutions provider. This designation gives federal agencies access to Convergys' entire Customer Management suite of solutions through the GSA's two and a half billion dollar contract vehicle.
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VISA PLANS STOCK-MARKET DEBUT AS DEMAND FOR NEW SHARES SLUMPS
Visa Inc. plans to proceed later today with its $17 billion initial public offering, potentially the biggest in U.S. history, even as the Standard & Poor's 500 Index inches toward a bear market.
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WHOLE CLASS OF DEBT IN CANADA IS BANKRUPT
A $32 billion segment of Canada's debt market was placed under bankruptcy protection on Monday after a committee established to restructure the troubled debt missed a settlement deadline.
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CITIGROUP CUTS 185 SALES WORKERS
The home mortgage division of Citigroup Inc. said Monday it is laying off 185 employees who worked in its home equity business, saying those types of loans are not salable in today's troubled home loan market.
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SENATE PASSES MEASURES AIMED AT IDENTITY THEFT
The Senate has unanimously passed two measures aimed at protecting consumers from identity theft.
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BEAR STEARNS' COLLAPSE CAUSES CALIF. TO LOOK AT BOND DEALS
A day after Bear Stearns agreed to be sold to avoid bankruptcy, California officials sought additional assurances Monday that it will receive $1.3 billion the company owes the state.
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DEFAULTED STUDENT LOANS COLLECTIONS MARKET AT $974 MILLION ACCORDING TO KAULKIN MEDIA STUDY
With the Department of Education's portfolio of defaulted student loans now standing at $40 billion, student loan collections represents a large and growing sector of the debt collection / accounts receivable management industry (ARM). Kaulkin Media announced today the release of its newest market report, Student Loan Collections Market: Stability & Profitability for the Right Players, which sizes the student loan collections market at $974 million annually.
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FEDERAL RESERVE TAKING RARELY-USED STEPS TO STEADY SHAKY FINANCIAL SECTOR
The Federal Reserve is primed to aggressively cut a key interest rate even lower on Tuesday, racing to contain spreading financial fires that threaten an economic meltdown.
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BUSH BACKS FED MOVES, SAYS US WILL MANAGE 'CHALLENGING TIMES'
President George W. Bush on Monday assured that the US was "on top of the situation" after huddling with his top economic advisors on the financial crisis that is roiling global markets.
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IRS IS LOSING MONEY BY USING PRIVATE COMPANIES TO COLLECT UNPAID TAXES
Congress was told last week that the Internal Revenue Service's use of private companies to collect unpaid tax debts is costing, rather than saving, the government money.
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NATIONAL CITY SHARES DROP AFTER BUYOUT
Shares of National City Corp. have lost more than a third of their value during Monday morning trading as the U.S. markets writhe following JPMorgan's decision to save fellow investment bank Bear Stearns with a $2-per-share buyout.
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ANALYST REACTIONS TO BEAR STEARNS
After JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. for $2 per share, analysts expressed "shock" at the sudden downturn in Bear Stearns' fortunes and pondered the impact of the buyout on the financial sector.
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COUNTY TO PURSUE DEBT
Portage County will hire a collection agency to try and make a dent in the almost $3 million in unpaid debt from fines and court costs.
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JP MORGAN TO BUY AILING BEAR STEARNS
JPMorgan Chase said yesterday it will acquire rival Bear Stearns for a bargain-basement $236.2 million - or $2 a share - a stunning collapse for one of the world's largest and most storied investment banks.
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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

$10,412,982.00     Credit Cards
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?492
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250

$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

$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

$2,608,684.00     Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?482
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826

Agency

ACE DEBT RECOVERY
614-493-2268

TMS FINANCIAL SYSTEMS
216-587-3328

Contact Solutions/Dialers

I GLOBAL SERVICES
40051201

Industry Events

NASP 2008 Subrogation Litigation Skills Conference
National Association of Subrogation Professionals (NASP)
Mirage Hotel and CasinoHilton New Orleans Riverside Hotel
New Orleans, Louisiana
March 27 - 28, 2008
(800) 574-9961
More Information

2008 National Automobile Finance Conference & Tradeshow
Consumer Bankers Association
Hilton San Francisco Hotel
San Francisco, CA
March 30 - April 1, 2008
(703) 276-1750
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

March For Success
ACA International
Green Valley Ranch, Resort & Spa
Las Vegas, NV
April 9 - 11, 2008
(562) 906-1101
More Information

Austin Logistics' Impact 2008: Survival of the Smartest
Austin Logistics
Four Seasons Hotel
Austin, TX
April 14- 16, 2008 (512) 328-8215
More Information

The Smarter Decisions Conference
InterACT: A Fair Isaac Forum
Luxury Collection Palace Hotel
San Francisco, California
April 27 - 30, 2008 (800) 496-7001
More Information

Decisions Forum
Magnum
Centennial Olympic Park Embassy Suites Hotel
Atlanta, GA
April 28 - 30, 2008
(770) 952-4940
More Information

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At A Glance Archive 2007 20062005

At A Glance - Friday, May 09, 2008

At A Glance - Wednesday, May 07, 2008

At A Glance - Friday, May 02, 2008

At A Glance - Wednesday, April 30, 2008

At A Glance - Friday, April 25, 2008

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