COMMISSION ISSUES ADVISORY OPINION ON FDCPA AND DEBT COLLECTORS; FTC EXTENDS COMMENT PERIOD FOR MOBILE TOWN HALL
Issuance of Commission advisory opinion: The Commission has issued an advisory opinion stating that the Fair Debt Collection Practices Act does not prohibit a debt collector in the foreclosure context from communicating with consumers regarding possible settlement options that may assist consumers to avoid foreclosure. USFN, formerly known as the U.S. Foreclosure Network, the nation's largest not-for-profit association of foreclosure law firms and trustees, asked the Commission to address whether a debt collector violates Sections 807 or 809(a) of the Act if he or she communicates with a consumer regarding possible foreclosure settlement options in initial or subsequent contacts with consumers. The FTC's advisory opinion concluded that providing truthful and non-misleading information to a consumer about settlement options would not be a per se violation of FDCPA Sections 807 or 809(a), but that specific communications could violate these sections of the Act if they contained a false or misleading representation or omission of material fact or overshadowed the disclosures regarding consumers' rights to dispute their debts in writing.
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RESOURCE MANAGEMENT SERVICES, INC. TO HOLD ANNUAL AGENCY AUDITOR TRAINING COURSE APRIL 8-11, 2008 IN SOUTHERN CALIFORNIA
Resource Management Services, Inc., a recognized leader in Collection and Recovery Management consulting and training, will hold their annual Agency Auditor Training class April 8 - 11, 2008 in Los Angeles, CA. This four day comprehensive course provides the attendee with an understanding of what a collection vendor auditor should be looking for and how best to structure and incorporate a performance and financial audit practice into the large Vendor Management process.
The course covers evaluation of a vendor's collection performance, best practices in compliance, and financial control reviews. The participant will be instructed in the audit approach, preparation and sampling, identifying and evaluating risk, developing work standards, and managing with the audit.
This course is intended for Originating Creditors and Debt Buyers with responsibility for agency management, auditing, or compliance. Not intended for agency or attorney firms.
For more information, please contact Resource Management Services, Inc. (562) 906-1101
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VERIFACTS AND AUTOMATED COLLECTION CONTROL ARE WORKING TOGETHER!
Automated Collection Control, Inc., the provider of YouveGotClaims®, has teamed up with VeriFacts Inc., the innovative skip tracer for creditors, collection agencies and attorneys, and debt purchasers.
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MARCH CONSUMER CONFIDENCE DOWN, OUTLOOK GRIM
WASHINGTON - U.S. consumer confidence fell in March, while expectations hit a 35-year low on pessimistic views of the business climate, job market and personal income, the Conference Board reported Tuesday.
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DEBT COLLECTION COMPLAINTS STILL TOP FTC LIST IN '07
Complaints about illegal and questionable debt collection practices rose slightly in 2007 over the previous year, according to the latest report released by the U.S. Federal Trade Commission (FTC).
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PAULSON RESISTS CONGRESSIONAL EFFORT TO STEM MORTGAGE CRISIS
WASHINGTON - Treasury Secretary Henry Paulson on Wednesday continued to resist Congressional efforts to stem the negative consequences to homeowners of the housing market collapse.
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BANKS STUCK WITH CREDIT CARD REPLACEMENT COSTS
The multi-million dollar tab for replacing credit and debit cards that were compromised by the Hannaford Brothers security breach will likely be borne by banks and credit unions that issued the cards.
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PAULSON CALLS FOR BROAD LOOK AT FINANCIAL REGULATIONS
WASHINGTON - The troubles that brought down Wall Street's once mighty Bear Stearns underscore the government's need to develop a clearer and more encompassing set of rules to oversee the country's major financial players, Treasury Secretary Henry Paulson said Wednesday.
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U.S. HOME-LOAN BANK ADDS LIQUIDITY
WASHINGTON - The Federal Home Loan Bank system won permission yesterday to double the amount of capital that it can spend to purchase mortgage bonds in an effort to boost home lending and revive the nation's housing market.
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FDIC PLANS STAFF BOOST FOR BANK FAILURES
WASHINGTON - Federal bank regulators plan to increase staffing 60 percent in its bank failure division in coming months to handle an anticipated surge in troubled financial institutions.
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DEBT SETTLEMENT GROWS UP
Debt Settlement grows up! Industry veterans launch CreditAssist Financial Services and add credibility and validation to an evolving industry.
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DEBTX TO SELL $380 MILLION IN COMMERCIAL REAL ESTATE LOANS
DebtX, the nation's largest loan sale advisor for commercial debt, today announced the sale of more than $380 million in Commercial Real Estate loans secured by properties in the southeastern United States.
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EXPERIAN DELIVERS KNOWLEDGE-BASED AUTHENTICATION THROUGH INTERACTIVE VOICE RESPONSE
Costa Mesa, Calif. - Experian®, a global information services company, today announced that it can deliver Knowledge IQSM services through interactive voice response systems. Full automation for both inbound and outbound calls is now a reality by leveraging Knowledge IQ, a challenge-question authentication product, through the latest automated interactive call technology. Experian has reached an agreement with Adeptra to begin providing the automated capability through their automated interactive technology, the virtual calling platform. The first collaboration has been implemented at a top-five financial institution.
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FEDERAL RESERVE STUDY REVEALS BIGGEST SHARE OF CHECKS ARE CONSUMER TO BUSINESS
Minneapolis, Minn. - The Federal Reserve's 2007 study of the composition of the check market released today shows that nearly 50 percent of checks written are consumer-to-business checks. The Check Sample Study reports on the composition of the check market based on responses from nine large financial institutions that together account for about one quarter of total U.S. paid check volume. The study, which categorizes the use of checks by payer, payee, and purpose, is the third component of the 2007 Federal Reserve Payments Study. Results of the first two components of the study were released December 10, 2007.
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BEAM4D ENTERPRISES AND STRATAGEM PORTFOLIO SERVICES ANNOUNCE STRATEGIC ALLIANCE
San Rafael, CA: Stratagem Portfolio Services and Beam4D Enterprises (B4E) announced they have signed an agreement to create a first-of-kind inline score capability within B4E's flagship ARM/Collection Software platform, called BEAM™. Under the new agreement, Stratagem will develop and make available a real-time analytics engine built and customized to the BEAM™ dataset. Called CueScore™, the product will be available throughout BEAM™ as a deeply integrated compliment to various implements that promote strategic account placement, optimize internal workloads, enable pre-purchase decisioning for debt purchasers and, perhaps most uniquely, utilize the dimension of time in the work process by re-attributing account scores in real time.
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COLLEGE LOANS HARDER TO GET
The credit crisis is spreading to college loans as more lenders drop out of the business. More than two dozen nonbank lenders have stopped making college loans and last week, three large banks followed suit.
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PAULSON STATEMENT ON FEDERAL HOUSING
Washington - Treasury Secretary Henry M. Paulson, Jr. made the following statement today regarding the Federal Housing Finance Board's decision to allow the Federal Home Loan Banks to bring temporary relief to the mortgage market.
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JPMORGAN UPS OFFER FOR BEAR STEARNS
NEW YORK - Seeking to mollify angry shareholders and employees, JPMorgan Chase quintupled its offer for Bear Stearns to roughly $10 a share Monday.
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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 | $10,502,381.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?504
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$478,251.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?503
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$1,423,593.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?502
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$5,777,052.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?501
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$17,114,377.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?500
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$15,333,934.00 Other
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?499
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$1,594,968.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?498
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$8,857,035.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?497
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$247,259.00 Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?495
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$992,717.00 Medical
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?494
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$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 | PROFESSIONAL RECOVERY CONSULTANTS, INC.
Geoff Miller
800-408-8156
More Information
RM FOSTER & ASSOCIATES LLC
888-272-6273
| | Debt Buyers | PROFESSIONAL RECOVERY SYSTEMS, LLC
Craig Manseth
877-596-2633
More Information
GENESIS FINANCIAL SOLUTIONS
Amy Sawyer
503-268-5815
More Information
| | Debt Sellers | PROFESSIONAL RECOVERY SYSTEMS, LLC
Craig Manseth
877-596-2633
More Information
GENESIS FINANCIAL SOLUTIONS
503-268-5815
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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
20th Annual Annual Card Forum & Expo
SourceMedia
Doral Golf Resort & Spa
Miami, FL
April 6 - 8, 2008
(800) 803-3424
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
(952) 926-6547
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
NAFCU 2008 Chief Executive Officers Conference
National Association of Federal Credit Unions
Casa Marina Resort
Key West, FL
April 16- 18, 2008
(800) 344-5580
More Information
The Smarter Decisions Conference
InterACT: A Fair Isaac Forum
Luxury Collection Palace Hotel
San Francisco, California
April 27 - 30, 2008
(612) 758-5200
More Information
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| At A Glance - Friday, May 09, 2008 |
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| 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 |
| 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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