AMERICANS SKEPTICAL OF FED
NEW YORK (CNNMoney.com) -- The Federal Reserve bears much of the responsibility for keeping the nation's economy on track but few Americans are fully convinced that the central bank can improve the country's financial situation.
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WHITE HOUSE THREATENS VETO OF FHA-RESCUE BILL
NEW YORK (CNNMoney.com) -- The House on Wednesday will begin debate on a housing package that would let the government back loans for homeowners at risk of foreclosure - a move many Republicans have opposed and which the White House has threatened to veto.
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TENET HEALTHCARE RESULTS HIT HARD BY CHARGES
Tenet Healthcare Corp. reported first-quarter losses Tuesday, but after stripping out special charges, the Dallas company said its earnings were $17 million.
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CAPITAL ONE SUES BROWN OVER ACCESS TO RECORDS
SAN FRANCISCO (Legal Newsline)-Capital One Financial Corporation is seeking to keep its records from California Attorney General Jerry Brown, who is investigating whether the bank and credit card company violated state consumer protection laws.
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FED MOVES ON CREDIT CARD CRACKDOWN
NEW YORK (CNNMoney.com) -- The Federal Reserve on Friday pushed ahead with a proposal to stop abuses by credit card issuers, a day after two other key bank regulatory agencies proposed effectively the same package of new rules.
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LAWMAKERS TARGET MORTGAGE LENDERS
NEW YORK (CNNMoney.com) -- Lawmakers considered allegations Tuesday that mortgage lenders and companies that service loans are misusing the bankruptcy system to impose questionable fees and improperly pressure homeowners facing foreclosure.
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THE NATIONAL ARBITRATION FORUM ANNOUNCES PARTNERSHIP WITH FORTHRIGHT
The National Arbitration Forum (FORUM) is pleased to announce its partnership with Forthright, a global provider of transaction processing and resolution systems. Forthright serves as the exclusive provider of all necessary services to optimize the process and the administration of National Arbitration Forum arbitration and mediation claims.
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EQUIFAX LAUNCHES MORTGAGE RISK EVALUATION TOOL FOR SECONDARY & CAPITAL MARKETS ANALYSIS
BOSTON, May 5, 2008 - Equifax Inc. (NYSE: EFX) today announced at the MBA Secondary Market Conference & Expo the launch of an analytical tool that gives mortgage investors deeper insights into mortgage borrower credit behavior - with a new level of detail previously unavailable in the market. Equifax Mortgage Market Risk InsightTM (MRI) is the industry’s first source of mortgage market risk information that enables forward-looking valuations for mortgage-related securities. Investors can use this tool to analyze mortgage loan performance and more accurately assess delinquency and default.
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SCORPIO TELEMARKETERS STUNG WITH COURT ORDER FOR DO NOT CALL VIOLATIONS
Under the terms of a court order announced by the Federal Trade Commission today, two individuals and one corporate defendant have been barred from violating the agency’s Telemarketing Sales Rule (TSR) and its Do Not Call (DNC) provisions arising from a telemarketing scheme designed to sell mortgage loans, refinancing services, and other products to U.S. consumers. They were also found liable for $530,000 in damages.
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FANNIE LOSS WIDER THAN FORECAST
NEW YORK (CNNMoney.com) -- In a sign of the problems that slashed home values and possibly led to a recession, mortgage financer Fannie Mae posted a far worse-than-expected first-quarter loss Tuesday, and said it will slash its dividend and raise additional capital.
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BERNANKE: FORECLOSURE WOES REQUIRE ACTION
NEW YORK (CNNMoney.com) -- The wave of foreclosures sweeping the nation are driven in part by a nearly unprecedented decline in home prices and require a concerted government and private-sector response, Ben Bernanke, chairman of the Federal Reserve, said Monday.
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TARGET CORPORATION ANNOUNCES AGREEMENT TO SELL INTEREST IN CREDIT CARD RECEIVABLES TO JPMORGAN CHASE FOR INITIAL INVESTMENT OF $3.6 BILLION
MINNEAPOLIS — Target Corporation (NYSE:TGT) today announced an agreement under which JPMorgan Chase would invest in Target's credit card receivables. At closing Target would sell an undivided interest in its credit card receivables to JPMorgan Chase (NYSE: JPM) for cash proceeds of approximately $3.6 billion. This interest would represent approximately 47 percent of the principal amount of Target's outstanding receivables at that time. This transaction is expected to close before the end of May.
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FEDERAL AGENCIES RELEASE ANNUAL REPORT TO CONGRESS ON SCHOLARSHIP FRAUD
Each year, millions of students seek help in financing their college education, and some fall prey to scholarship and financial aid scams that “guarantee” money for college in exchange for a fee. In 2000, Congress passed the College Scholarship Fraud Prevention Act to help federal agencies crack down on those scams. The Federal Trade Commission, the Department of Justice (DOJ), and the Department of Education (ED) have issued their annual report to Congress describing their continued efforts to combat scholarship and financial aid fraud.
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THE APRIL 2008 SENIOR LOAN OFFICER OPINION SURVEY
The April 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months.1 Special questions in the survey queried banks about changes in terms on home equity lines of credit and about their student loan programs. This article is based on responses from 56 domestic banks and 21 U.S. branches and agencies of foreign banks.
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THE FEDERAL RESERVE BOARD ON FRIDAY PROPOSED RULES TO PROHIBIT UNFAIR PRACTICES REGARDING CREDIT CARDS AND OVERDRAFT SERVICES THAT WOULD, AMONG OTHER PROVISIONS, PROTECT CONSUMERS FROM UNEXPECTED INCREASES IN THE RATE CHARGED ON PRE-EXISTING CREDIT CARD B
The rules, proposed for public comment under the Federal Trade Commission Act (FTC Act), also would forbid banks from imposing interest charges using the "two-cycle" billing method, would require that consumers receive a reasonable amount of time to make their credit card payments, and would prohibit the use of payment allocation methods that unfairly maximize interest charges. They also include protections for consumers that use overdraft services offered by their bank.
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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 (PRWEB) May 1, 2008 -- TouchStar today publicly announces that it is providing free call center services leads to its 2,500 call center clients.
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ENCORE CAPITAL GROUP ANNOUNCES FIRST QUARTER 2008 RESULTS
SAN DIEGO, May 1 /PRNewswire-FirstCall/ -- 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.
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6,000 UCSF PATIENTS' DATA GOT PUT ONLINE
(05-01) 17:22 PDT 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.
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REGULATORS ZERO IN ON CREDIT CARD REFORM
NEW YORK (CNNMoney.com) -- 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.
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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., May 1 /PRNewswire-FirstCall/ -- 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.
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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.
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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.
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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.
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ATTORNEY GENERAL CUOMO HALTS DECEPTIVE AND ABUSIVE PRACTICES BY WESTERN NEW YORK DEBT COLLECTOR
BUFFALO, N.Y. (April 30, 2008) – 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.
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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 | $8,487,967.00 Retail
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?538
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$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
$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
$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
$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
$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
$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
$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
| | Agency | NETQUEST RECOVERY SERVICES, INC.
Randy Wade
877-300-9297
More Information
RECOVERIES MANAGEMENT PTE. LTD.
Paulson Lum
+65 96188383
More Information
| | 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
| | Skip Tracing | INTERNATIONAL RESEARCH SPECIALISTS, INC.
Carl D. MacBride
561-689-5784
More Information
|
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Industry Events
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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
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| At A Glance - Friday, May 09, 2008 |
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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 - Wednesday, April 02, 2008 |
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| At A Glance - Wednesday, January 30, 2008 |
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| 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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