CENTRAL BANKS HAVE CONTINUED TO WORK TOGETHER AND TO CONSULT REGULARLY ON LIQUIDITY CONDITIONS IN FINANCIAL MARKETS. IN VIEW OF THE PERSISTENT LIQUIDITY PRESSURES IN SOME TERM FUNDING MARKETS, THE EUROPEAN CENTRAL BANK, THE FEDERAL RESERVE, AND THE SWISS
The Federal Reserve announced today an increase in the amounts auctioned to eligible depository institutions under its biweekly Term Auction Facility (TAF) from $50 billion to $75 billion, beginning with the auction on May 5. This increase will bring the amounts outstanding under the TAF to $150 billion.
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TOUCHSTAR CHANGES THE CALL CENTER INDUSTRY BY PROVIDING FREE LEADS FOR CALL CENTERS TO GAIN NEW BUSINESS
Denver, CO - TouchStar today publicly announces that it is providing free call center services leads to its 2,500 call center clients.
read more
ENCORE CAPITAL GROUP ANNOUNCES FIRST QUARTER 2008 RESULTS
SAN DIEGO, CA - Encore Capital Group, Inc. (Nasdaq: ECPG), a leading distressed consumer debt management company, today reported consolidated financial results for the first quarter ended March 31, 2008.
read more
REGULATORS ZERO IN ON CREDIT CARD REFORM
NEW YORK - Federal regulators are pushing ahead to stop abuses by credit card issuers at a time when the $2 trillion industry has come under increasing scrutiny.
read more
FINANCIAL SERVICES COMMITTEE APPROVES FHA HOUSING AND HOMEOWNER RETENTION ACT
Washington, DC - The House Financial Services Committee today approved H.R. 5830, the FHA Housing and Homeowner Retention Act, by a bipartisan vote of 46 to 21. The legislation, authored by Committee Chairman Barney Frank, will expand the FHA program to help refinance at-risk borrowers into viable mortgages. The bill also requires the Federal Reserve Board to conduct a study on the need for an auction or bulk refinancing mechanism. The legislation now moves to the full House for consideration.
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STERN FAMILY ESTABLISHES $8.2 MILLION SUBORDINATED LOAN TO ASTA FUNDING, INC.
ENGLEWOOD CLIFFS, N.J. - Asta Group Inc., a large shareholder of Asta Funding, Inc. (Nasdaq: ASFI), beneficially owned and controlled by Arthur Stern, the Chairman of the Board of Asta Funding, Gary Stern, the Chief Executive Officer of the Company, and members of their families, have agreed, on an unsecured basis, to advance approximately $8.2 million to the Company.
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LAWMAKERS UNVEIL NEW CREDIT CARD REFORM BILL
A group of Democratic lawmakers unveiled sweeping legislation Wednesday that promises to shield consumers from harmful, and in some instances predatory practices, by the credit card industry.
read more
6,000 UCSF PATIENTS' DATA GOT PUT ONLINE
San Francisco - Information on thousands of UCSF patients was accessible on the Internet for more than three months last year, a possible violation of federal privacy regulations that might have exposed the patients to medical identity theft, The Chronicle has learned.
read more
PERSONAL INCOME SLIPS SLIGHTLY, BUT CONSUMER SPENDING JUMPS.
Americans' personal income slipped in March, but consumer spending jumped up, according to a government report released Thursday.
read more
COURT ORDERS CROSS-BORDER TELEMARKETERS TO PAY NEARLY $5 MILLION
At the request of the Federal Trade Commission, the U.S. District Court for the Northern District of Illinois has entered a final order and default judgment against a group of individual and corporate defendants based in Ontario, Canada, for their role in a cross-border telemarketing scheme that cost U.S. consumers millions of dollars.
read more
PAYDAY-LENDING BILL PASSES OHIO HOUSE
A bill that consumer advocates say would become a national model for payday-lending regulation passed a divided Ohio House today, despite industry warnings that it would drive their 1,600 stores out of business.
read more
ATTORNEY GENERAL CUOMO HALTS DECEPTIVE AND ABUSIVE PRACTICES BY WESTERN NEW YORK DEBT COLLECTOR
BUFFALO, N.Y. - Attorney General Andrew M. Cuomo announced today that a Western New York debt collection company that engaged in deceptive and abusive practices will reform their business and pay $35,000 in penalties and costs under a settlement agreement with his office.
read more
FED CUTS RATES AGAIN AND HINTS AT PAUSE
The Federal Reserve cut its key interest rate by a quarter percentage point Wednesday, but the central bank's statement signaled it may be the last rate cut for at least a while.
read more
LAWMAKERS AIM AT CREDIT CARD COMPANIES
NEW YORK - A group of Democratic lawmakers unveiled sweeping legislation Wednesday that promises to shield consumers from harmful, and in some instances predatory practices, by the credit card industry.
read more
EXPERIAN STUDY SHOWS SEVERELY DELINQUENT MORTGAGE ACCOUNTS UP 15 PERCENT IN ONE YEAR
Irvine, Calif. - Many U.S. homeowners continue to weather the current credit crunch and real estate market conditions, as the number of severely delinquent mortgage accounts increased 15 percent in one year, according to a National Score Index® study conducted by Experian Consumer DirectSM, the leading provider of online direct-to-consumer credit reports, scores and monitoring products.
read more
FIRST DATA TO RELEASE FIRST QUARTER 2008 FINANCIAL RESULTS
DENVER, CO - On Thursday, May 15, First Data Corp. will release its first quarter financial results. The release will be available on the First Data website, www.firstdata.com.
read more
ASSET ACCEPTANCE CAPITAL CORP. ANNOUNCES FIRST QUARTER 2008 RESULTS
WARREN, Mich. - Asset Acceptance Capital Corp. (Nasdaq: AACC), a leading purchaser and collector of charged-off consumer debt, today announced first quarter 2008 results, highlighted by a 4.6 percent improvement in cash collections and reduced operating expenses. Total revenues declined by 4.4 percent versus the same period last year.
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TRANSUNION.COM MORTGAGE TREND ANALYSIS FINDS THAT MORTGAGE LOAN DELINQUENCY RATES EXPECTED TO RISE MORE THAN 34 PERCENT BY YEAR END
CHICAGO, IL - Analysis of trends in the mortgage industry during the 4th quarter of 2007 was made available today on TransUnion.com. The report is the third in an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data to be released on TransUnion's Web site.
read more
SIMPLETUITION ADDS DISCOVER STUDENT LOANS
NEWTON, Mass. - SimpleTuition, Inc., a company dedicated to helping students and parents make sense of education financing choices, today announced an agreement with Discover Financial Services (NYSE: DFS) to include its full line of student loan products - Discover Student Loans - among SimpleTuition's online offerings. Discover Student Loans include federal Stafford, federal PLUS, and private loans that cover the costs of higher education - tuition, housing, books and more.
read more
SPACE IS STILL AVAILABLE FOR THE RECOVERY MANAGEMENT STRATEGIES AND TECHNIQUES CLASS
This course will bring real-world experience and answers to the challenges that Recovery Managers face in structuring and managing the external recovery operation. Topics covered will include Agency Selection, Placement Strategies, Performance Measurements, Contracts, Work Standards, Settlements, Auditing, Compliance, and Financial Issues. The first session is scheduled for May 20 - 21, 2008 in Los Angeles, CA at the Westin Los Angeles Airport (LAX).
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CREDIT ACCEPTANCE ANNOUNCES FIRST QUARTER 2008 EARNINGS
SOUTHFIELD, Mich. - Credit Acceptance Corporation (Nasdaq:CACC) (referred to as the "Company", "we", "our", or "us") announced consolidated net income of $17.6 million, or $0.57 per diluted share, for the three months ended March 31, 2008 compared to consolidated net income of $15.4 million, or $0.49 per diluted share, for the same period in 2007.
read more
WACHOVIA COULD TAKE $1 BILLION CHARGE TIED TO LEASES
Wachovia Corp., the fourth-largest U.S. bank by assets and the largest in Monmouth and Ocean counties, expects to record a non-cash charge of $800 million to $1 billion tied to leasing transactions that the company stopped making in 2003.
read more
GM POSTS BIG LOSS AS U.S. SALES HURT
NEW YORK (CNNMoney.com) -- General Motors Corp. reported a large first-quarter loss Wednesday, due in large part to struggles at its former finance wing GMAC, a strike at American Axle and slumping U.S. car sales.
read more
FORECLOSURES DOUBLE, AND HOME PRICES TUMBLE
The most severe real estate recession in decades appears far from over, with the pace of foreclosures rising, the fall in home prices accelerating and the pain spreading to nearly every major U.S. city, according to two reports issued Tuesday.
read more
HOW THE STATE CAN STABILISE HOUSING MARKET
Over the past year, federal and state governments, consumer groups, industry and others have worked to contain the growing tide of foreclosures. While some success has been achieved, foreclosures continue to mount and delinquency rates for subprime and even some prime mortgages have risen dramatically.
read more
WELLS FARGO FINANCIAL NATIONAL BANK INTRODUCES HEALTHCARE CONSUMER FINANCING PROGRAM
DES MOINES, Iowa - Wells Fargo Financial National Bank -- part of the consumer finance subsidiary of Wells Fargo & Company (NYSE: WFC) -- has launched a revolving credit card program to give consumers flexible payment options for select healthcare and veterinary services. The Wells Fargo Health Advantage(SM) card is available for dental treatment, veterinary care and corrective vision procedures.
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PAULSON APPROVES STIMULUS DISTRIBUTION PLAN, PAYMENTS FOR AMERICAN SAMOA, GUAM, U.S. VIRGIN ISLANDS, COMMONWEALTH OF THE NORTHERN MARIANA ISLANDS
Washington, DC--Treasury Secretary Henry M. Paulson, Jr. today approved the stimulus distribution plan and payment amount for American Samoa, and payments amounts to Guam, the U.S. Virgin Islands, and the Commonwealth of the Northern Mariana Islands.
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MASTERCARD PROFIT MORE THAN DOUBLES AS CARD USE ABROAD RISES
MasterCard's profit more than doubled in the first quarter, the card processor said Tuesday, as more customers outside the United States used their credit and debit cards for purchases.
read more
FAIR ISAAC'S TRIAD SYSTEM 8.3 DELIVERS ENHANCED FLEXIBILITY AND PROCESSING FOR MORE EFFECTIVE PORTFOLIO MANAGEMENT
Minneapolis, Minnesota - Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today announced the release and immediate availability of TRIAD® adaptive control system version 8.3. With the TRIAD system 8.3, credit grantors now have access to improved flexibility and processing capabilities that accelerate the development and implementation of profitable decisions in account and customer management, at both the enterprise and portfolio levels.
read more
FTC TESTIFIES ON EFFORTS TO PROTECT CONSUMERS IN SUBPRIME MORTGAGE MARKET
The Federal Trade Commission testified before the U.S. Senate Committee on Commerce, Science, and Transportation's Subcommittee on Interstate Commerce, Trade, and Tourism, about the Commission's continuing efforts to protect subprime mortgage borrowers.
read more
FTC CHARGES MORTGAGE FORECLOSURE "RESCUERS"
The Federal Trade Commission has charged Foreclosure Solutions, LLC and Timothy A. Buckley with operating a nationwide mortgage foreclosure "rescue" scam that charged consumers as much as $1,200 to save their homes from foreclosure but failed to do so. The FTC seeks to bar them from further law violations and make them forfeit their ill-gotten gains.
read more
$900M LOSS AND MORE BAD LOANS - COUNTRYWIDE
NEW YORK - Countrywide Financial Corp. once again found itself mired in red ink, reporting a loss Tuesday of nearly $900 million as higher housing-related credit losses engulfed the mortgage lender's results.
read more
FORECLOSURES SPIKE 112% - NO END IN SIGHT
NEW YORK - Foreclosure filings in the first three months of 2008 rose more than 112% over last year, according to a study released Tuesday.
read more
HENRY J. OSTOJA JOINS SECURITY CREDIT SERVICES
Ostoja's industry experience and attention to implementation provide Security Credit Services ample resources.
read more
| 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 | $3,433,394.00 Auto Deficiencies
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?536
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$1,002,755.00 Checks
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?535
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$112,346,419.00 Auto Deficiencies
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?534
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$3,300,140.00 Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?533
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$2,122,733.00 Retail
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?537
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$681,906.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?532
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$5,082,711.00 Credit Cards
Pacific Healthcare Services, Inc.
http://www.debtconnection.com/portfolio.asp?531
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3122
$12,249,416.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?530
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$19,744,659.00 Auto Deficiencies
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?529
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$79,000,000.00 Medical
Oxford Management Services
http://www.debtconnection.com/portfolio.asp?527
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3241
$13,445,668.00 Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?524
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$2,119,554.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?523
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?525
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$1,600,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?518
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$2,026,471.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?517
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$6,193,475.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?516
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$8,100,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?515
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$12,147,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?514
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$14,340,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?513
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$25,000,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?512
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$1,583,940.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?519
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$11,400,000.00 Consumer Loans
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?509
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$8,467,169.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?511
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$6,100,000.00 Credit Cards
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?510
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
| | Agency | NETQUEST RECOVERY SERVICES, INC.
Randy Wade
877-300-9297
More Information
CREDIT BUREAU OF NORTH AMERICA (CBNA)
615-446-7128
| | Debt Buyers | CROWN ASSET MANAGEMENT, LLC
Brian K. Williams
770-817-6700
More Information
| | Debt Sellers | CROWN ASSET MANAGEMENT, LLC
Brian K. Williams
866-696-4442
More Information
| | Deceased | DCM SERVICES LLC
763-852-8620
| | Skip Tracing | INTERNATIONAL RESEARCH SPECIALISTS, INC.
Carl D. MacBride
561-689-5784
More Information
|
|
Industry Events
|
2008 Chicago/Spring Meeting
Commercial Law League of America (CLLA)
Westin Michigan Avenue Hotel
Chicago, Illinois
May 1 - 4, 2008
(312) 781-2000
More Information
A Debtor World: Interdisciplinary Academic Symposium on Debt from the University of Illinois and the American Bankruptcy Institute
American Bankruptcy Institute
University of Illinois College of Law
Chicago, Illinois
May 2 - 3, 2008
More Information
Collection and Recovery Solutions 2008
Resource Management Services, Inc.
Four Seasons Hotel Las Vegas
Las Vegas, Nevada
May 7 - 9, 2008
(562) 906-1101
More Information
Auto Finance Risk Summit 2008
Royal Media Group
Loews Coronado Bay Resort
San Diego, CA
May 14 - 16, 2008
(212) 564-8972
More Information
NARCA 2008 Spring Collection Conference
NARCA
Sheraton Seattle Hotel
Seattle, Washington
May 15 - 17, 2008
(800) 633-6069
More Information
Payments 2008 - Through Leadership / Innovative Solutions
NACHA - The Electronic Payments Association
MGM Grand Hotel
Las Vegas, NV
May 18 - 21, 2008
(800) 487-9180
More Information
Recovery Management Strategies and Techniques
Resource Management Services, Inc.
The Westin
Los Angeles, CA
May 20 - 21, 2008
(562) 906-1101
More Information
Best Practices in Collections Workshop
Austin Logistics and SoundBite Communications
Hyatt Regency Phoenix
Phoenix, Arizona
May 22, 2008
(781) 897-2617
More Information
|
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| At A Glance - Wednesday, August 06, 2008 |
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| At A Glance - Wednesday, July 23, 2008 |
| At A Glance - Friday, July 18, 2008 |
| At A Glance - Wednesday, July 16, 2008 |
| At A Glance - Friday, July 11, 2008 |
| At A Glance - Wednesday, July 09, 2008 |
| At A Glance - Wednesday, July 02, 2008 |
| At A Glance - Friday, June 27, 2008 |
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| At A Glance - Wednesday, June 11, 2008 |
| At A Glance - Friday, June 06, 2008 |
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| At A Glance - Friday, May 30, 2008 |
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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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