RESOURCE MANAGEMENT SERVICES, INC. (RMS) SMALL BUSINESS CARD STUDY CONTINUES
Resource Management Services, Inc. (RMS) continues the innovative research project focused on Small Business credit card issues faced by creditors in today’s financial environment. Please be sure to get your responses in.
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JOINT STATEMENT BY TREASURY SECRETARY HENRY M. PAULSON, JR.
Continuing constraints in our capital markets have posed challenges for students and student lenders throughout the last year. We recognize that education is the foundation of a strong American workforce and we must not let challenges in our capital markets hinder our students' opportunities. Given these ongoing concerns, the Administration is taking a series of steps to support the student loan market.
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LENDERS TIGHTENING BUSINESS LOAN CONDITIONS, BANK SURVEY SUGGESTS
Data collected by the Bank of Canada suggests that Canada's major lending institutions were tightening the terms and raising the prices of loans to businesses in September.
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CITI ENDS TALKS WITH WELLS FARGO OVER WACHOVIA
NEW YORK (CNNMoney.com) -- Banking giant Citigroup said Thursday it had ended talks with Wells Fargo about reaching an agreement to acquire parts of the struggling bank Wachovia and is no longer looking to buy any of Wachovia's assets.
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SOUNDBITE COMMUNICATIONS ACHIEVES ANNUAL PCI COMPLIANCE
BEDFORD, Mass. - SoundBite Communications Inc. (NASDAQ: SDBT) today announced its compliance as a service provider under the Payment Card Industry Data Security Standard (PCI DSS). Compliance with this industry standard demonstrates SoundBite's ongoing commitment to protecting cardholder data and provides independent validation that SoundBite's technology is adhering to the payment card industry's rigorous security standards. SoundBite is proud to be the only proactive customer communications provider listed as a PCI Compliant service provider, a key requirement for working with financial institutions, card issuers and retailers. A full listing of compliant service providers can be found here.
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TSYS REPORTS RESULTS FOR THIRD QUARTER 2008
Columbus, Ga., October 9, 2008 - TSYS today announced its financial results for the third quarter ended September 30, 2008. Total revenues grew 9.4% to $500.4 million compared to $457.6 million in the prior year. Earnings per share for the third quarter were $0.33.
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PAULSON 'ACTIVELY' EYES BANK INVESTMENT
NEW YORK (CNNMoney.com) -- The Treasury Department is "actively" looking at buying equity stakes in some of the nation's banks, according to White House spokesperson Dana Perino.
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US CONSIDERS OWNERSHIP IN VARIOUS BANKS
WASHINGTON - The Bush administration is considering taking part ownership in certain US banks as an option for dealing with a severe global credit crisis.
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BIG DROP PREDICTED FOR GLOBAL AUTO SALES
NEW YORK (CNNMoney.com) -- As the economic downturn continues to hit consumers' wallets, market analysis firm J.D. Power is predicting even bigger drops in U.S. and global auto sales than it had previously thought.
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TRANSUNION HEALTHCARE SURVEY FINDS THAT NEARLY HALF OF RESPONDENTS EXPERIENCED UP TO 10 PERCENT INCREASES IN THE UNINSURED AND UNDERINSURED POPULATIONS
CHICAGO, Oct. 9 /PRNewswire/ -- An astounding 97 percent of hospital administrators from 22 hospitals in 15 states said they are seeing a rise in the uninsured and underinsured populations, resulting in increased bad debt and the further straining of charity programs. The findings were gathered from a survey administered by TransUnion in conjunction with its Healthcare Users Group Conference. Nearly half of the survey respondents experienced a 6-10 percent increase in the uninsured and underinsured population since the beginning of 2007 with another 28 percent observing an 11-20 percent increase.
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CONSUMERS WARNED TO AVOID FAKE E-MAILS TIED TO BANK MERGERS
Online scammers are taking advantage of tough economic times. While e-mails phishing for sensitive data are nothing new, scammers are taking advantage of upheavals in the financial marketplace to confuse consumers into parting with valuable personal information.
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FOR STATES, IT'S A 'WORST-CASE SCENARIO'
NEW YORK (CNNMoney.com) -- States and municipalities are facing their worst budget crunches in decades - and it's only going to get worse.
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LENDERS STILL ON EDGE
NEW YORK (CNNMoney.com) -- Lending remained tight Thursday as the coordinated interest rate cut from the Federal Reserve and six other central banks did little to ease the credit squeeze.
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STATEMENT BY SECRETARY HENRY M. PAULSON, JR. ON FINANCIAL MARKETS UPDATE
Washington, DC-- Good afternoon. Last Friday Congress finalized and President Bush signed into law the bipartisan Emergency Economic Stabilization Act. The EESA provides the Treasury, the Federal Reserve and the FDIC with important new authorities to complement existing ones. We will continue to coordinate with other federal regulators to use these tools to implement our strategy to address the four key challenges in our financial markets today - confidence, capital, systemic risk and liquidity. Although we are facing particularly difficult circumstances, I remain confident that we will work through this challenge, as we have always successfully worked through every economic challenge in the history of the United States. We are a strong and wealthy nation, with the resources to address the needs we face. I am confident that, with the right public policy response, time and effort, we will conquer these challenges as well.
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CONSUMER BORROWING DIPS IN AUGUST
Consumer borrowing fell in August for the first time in more than a decade as households, battered by rising job layoffs and the decaying economy, cut back sharply on their use of credit.
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FED ENACTS EMERGENCY INTEREST RATE CUT
The Federal Reserve, working in coordination with other central banks worldwide, enacted an emergency interest rate cut on Wednesday.
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SHARED NATIONAL CREDITS PROGRAM1 REPORTS LARGE INCREASE IN CREDIT VOLUME AND SIGNIFICANT DETERIORATION IN CREDIT QUALITY
The volume of Shared National Credits (SNC)2, loan commitments of $20 million or more and held by three or more federally supervised institutions, rose 22.6 percent to $2.8 trillion, and the volume of criticized credits increased to $373.4 billion, or 13.4 percent of the SNC portfolio, according to the 2008 SNC review results released today by federal bank and thrift regulators. The results of the review--reported by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision--are based on analyses prepared in the second quarter of 2008 of credit data provided by federally supervised institutions as of December 31, 2007.
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FTC'S JOEL WINSTON EARNS PRESIDENTIAL RANK AWARD
The Federal Trade Commission announced today that Joel Winston, Associate Director for Privacy and Identification Protection in the agency's Bureau of Consumer Protection, has received the 2008 Presidential Rank Award of Meritorious Executive.
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DISCOVER® U.S. SPENDING MONITOR(SM) DOWN 2.2 POINTS TO 86.5, AS CONSUMER CONFIDENCE IN THE ECONOMY FALLS
RIVERWOODS, Ill.--(BUSINESS WIRE)--The Discover U.S. Spending Monitor dipped 2.2 points to 86.5 in September, as consumers grew increasingly concerned about the U.S. economy and worked hard to hold-the-line on future spending plans. More than 55 percent of the nation's adults rated the economy as poor, and nearly 70 percent think it is getting worse. Both measures were 5 points higher than the previous month and both turned increasingly negative as the financial crisis played out.
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ICELAND STRUGGLES, ABANDONS FIXED EXCHANGE RATE
Iceland plunged further into financial crisis on Wednesday as it scrapped plans to nationalize a major bank, instead placing it into receivership, and abandoned attempts to put a floor under its falling currency by fixing the exchange rate.
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DAVID A. SCHIESZER JOINS SOUTHWEST CREDIT SYSTEMS LP AS COO
David A. Schieszer has joined Southwest Credit Systems, LP in Plano, Texas, as Chief Operating Officer. Schieszer will be responsible for leading the operational activities of Southwest Credit, ensuring that client and organizational expectations are met through strategic planning and solid execution.
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39 YEAR IT VETERAN JOINS FIRST DATA AS CHIEF TECHNOLOGY OFFICER DERODES TO LEAD COMPANY'S TECHNOLOGY STRATEGY AND INNOVATION
DENVER, Oct. 8, 2008 - First Data, a global leader in electronic commerce and payments, today named Robert P. DeRodes as its chief technology officer (CTO). DeRodes, 58, will join the company's executive management team and report directly to Chairman and Chief Executive Officer Michael Capellas.
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INDUSTRY EXPERT OFFERS 30 MINUTE WEBINARS WITH ANSWERS TO CONTACT CENTER CHALLENGES
Contact centers face the ultimate pressure of producing results every day. The biggest obstacles are agent attendance, schedule adherence, turnover, performance and quality.
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ATTORNEY GENERAL MCGRAW STOPS FLORIDA COLLECTION AGENCY FROM THREATENING CONSUMERS WITH COERCIVE COLLECTION PRACTICES
Attorney General Darrell McGraw filed suit today in the Circuit Court of Kanawha County against Charles Howell & Associates, ("Howell"), a Florida collection agency, and its President, Gregory Wells of Tampa, Florida, for unlawful, coercive debt collection practices.
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AGENCIES SEEK PUBLIC COMMENT ON PROPOSED RULEMAKING TO LOWER RISK WEIGHTS FOR CLAIMS ON, OR GUARANTEED BY, FANNIE MAE AND FREDDIE MAC
The federal bank and thrift regulatory agencies announced today that they will request public comment on a joint notice of proposed rulemaking (NPR) to allow a banking organization to assign a 10 percent risk weight to claims on, and portions of claims guaranteed by, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Claims include all credit exposures, such as senior and subordinated debt and counterparty credit risk exposures, but do not include preferred or common stock.
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CREDIT MARKETS EASE ON FED MOVE
Credit markets eased slightly Tuesday after the Federal Reserve announced plans to help unclog the pipeline by buying up short-term corporate debt that is typically used to cover day-to-day business expenses.
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FDIC BOARD ADOPTS RESTORATION PLAN -- PROPOSES HIGHER ASSESSMENTS ON INSURED BANKS
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today voted to adopt a restoration plan accompanied by a notice of proposed rulemaking that would increase the rates banks pay for deposit insurance, while at the same time making adjustments to the system that determines what rate a bank pays the FDIC.
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BERNANKE: ECONOMIC OUTLOOK WEAKER
NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke predicted that the global financial markets crisis is likely to restrain the economy well into next year and signaled that the Fed may be getting ready to cut interest rates.
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BUSINESS LOAN BAILOUT
NEW YORK (CNNMoney.com) -- The Federal Reserve announced a new program to help the battered market for short-term business loans - taking its closest step yet to lending directly to businesses.
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ILLINOIS ATTORNEY GENERAL MADIGAN LEADS $8.7 BILLION GROUNDBREAKING SETTLEMENT OF LAWSUIT AGAINST MORTGAGE GIANT COUNTRYWIDE
Chicago - Attorney General Lisa Madigan today announced a ground-breaking $8.7 billion settlement in her predatory lending lawsuit against Countrywide, the nation's largest mortgage lender and servicer. Madigan led the national settlement with California Attorney General Jerry Brown. Nine other states joined the settlement.
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AUTO LOAN DELINQUENCIES RISE; $25 BILLION IN LOANS PAST DUE, ACCORDING TO EXPERIAN AUTOMOTIVE
Las Vegas, Oct. 6, 2008 - As the economy struggles, automotive loan delinquencies are increasing, putting nearly $25 billion in loans past due, according to figures released by Experian Automotive, a part of Experian, at the Automotive Finance Summit here today.
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NOBLE® COMPOSER WEB AGENT OFFERS FLEXIBLE WEB-BASED AGENT DESKTOPS
Atlanta, GA - October 6, 2008: Noble Systems Corporation, a global provider of contact center technology, introduces Noble® Composer Web Agent, a powerful agent workflow design and desktop unification tool for web-based agent environments. Noble Composer Web Agent helps companies improve agent productivity, reduce training costs, increase customer service quality, and leverage technology investments.
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ATTORNEY GENERAL ABBOTT REACHES AGREEMENT WITH COUNTRYWIDE, HELPS HOMEOWNERS AVOID FORECLOSURE
AUSTIN - Texas Attorney General Greg Abbott and six other state attorneys general today reached a nearly $8 billion agreement with Countrywide Financial Corp. The settlement resolves states' lengthy investigation into Countrywide's lending practices. Bank of America, which recently acquired Countrywide, agreed to the settlement.
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OFFICIAL: KASHKARI TAPPED TO HEAD BAILOUT
WASHINGTON (AP) -- An official says the administration has decided to pick a key Treasury Department official to be the interim head of its $700 billion rescue effort for financial institutions.
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BANK OF AMERICA ANNOUNCES NATIONWIDE HOMEOWNERSHIP RETENTION PROGRAM FOR COUNTRYWIDE CUSTOMERS
CALABASAS, Calif., Oct. 6 /PRNewswire/ -- Bank of America today announced the creation of a proactive home retention program that will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principal reductions for nearly 400,000 Countrywide Financial Corporation customers nationwide.
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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 | $3,023,059.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?608
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$983,804.00 Judgments
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?607
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
| | Agency | NETQUEST RECOVERY SERVICES, INC.
Russel French
877-300-9297
More Information
VISION CREDIT SOLUTIONS, LLC
J. P. Belstadt
716-831-9677
More Information
| | Debt Sellers | HUDSON & KEYSE, LLC
Jon Lazzarro
800-654-1660
More Information
| | Software | TOUCHSTAR
303-338-0200
BFRAME DATA SYSTEMS INC.
678-387-0100
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Industry Events
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Chicago Consumer Bankruptcy Conference
American Bankruptcy Institute
The Standard Club
Chicago, Illinois
October 13, 2008
More Information
Distressed Retailed Summit
Infocast
Digital Sandbox
New York, NY
October 16 - 17, 2008
More Information
NARCA 2008 Fall Collection Conference
NARCA
Omni Shoreham Hotel
Washington, DC
October 16 - 18, 2008
More Information
Financial Services Collections Conference
Collections & Credit Risk
Bellagio Hotel and Casino
Las Vegas, NV
October 22 - 24, 2008
More Information
US Hispanic and Latin American Markets: A World of Emerging Opportunities
Credit & Collection Symposium of the Americas
Hyatt Regency Hotel
Miami, FL
October 28 - 30, 2008
More Information
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| At A Glance - Friday, November 14, 2008 |
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| At A Glance - Wednesday, October 29, 2008 |
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| At A Glance - Friday, August 29, 2008 |
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| 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 |
| At A Glance - Wednesday, June 25, 2008 |
| At A Glance - Friday, June 20, 2008 |
| At A Glance - Wednesday, June 18, 2008 |
| At A Glance - Friday, June 13, 2008 |
| At A Glance - Wednesday, June 11, 2008 |
| At A Glance - Friday, June 06, 2008 |
| At A Glance - Wednesday, June 04, 2008 |
| At A Glance - Friday, May 30, 2008 |
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| At A Glance - Friday, May 23, 2008 |
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| At A Glance - Friday, May 16, 2008 |
| At A Glance - Wednesday, May 14, 2008 |
| 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 |
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| At A Glance - Wednesday, April 02, 2008 |
| At A Glance - Friday, March 28, 2008 |
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| 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 |
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| At A Glance - Friday, February 29, 2008 |
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| 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 |
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| 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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