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Friday, May 08, 2009

This Weeks Articles:

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JOBS: A LITTLE LESS BLEAK
NEW YORK (CNNMoney.com) -- The unemployment rate hit a 25-year high in April, but there were signs of hope as the monthly job loss total fell to the lowest level in six months.
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HOUSE PASSES HISTORIC MORTGAGE REFORM LEGISLATION
Washington, DC - May 8, 2009 - (RealEstateRama) - The House of Representatives today overwhelmingly approved legislation to curb abusive and predatory lending - a major factor in America's highest home foreclosure rate in 25 years. H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009, will outlaw many of the egregious industry practices that marked the subprime lending boom. It represents a key step in the overhaul of the nation's financial regulations.
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AT A GLANCE: STRESS TESTS SHOW 10 BANKS MUST RAISE $75 BILLION
THE EVENT: The Treasury Department is directing 10 of the nation's 19 biggest banks to boost their capital levels by a combined $75 billion, as a result of the government's stress tests.
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FANNIE LOSES $23 BILLION, SEEKS MORE U.S. AID
NEW YORK (CNNMoney.com) -- Fannie Mae, the troubled mortgage finance company, reported a first-quarter loss of $23.2 billion on Friday.
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STRESS TEST RESULTS: BANKS MUST RAISE $75 BILLION
NEW YORK (CNNMoney.com) -- Ten of the nation's 19 largest banks will need to raise a total of $74.6 billion in capital, federal officials announced Thursday, bringing an end to relentless speculation about how much more money the nation's leading banks would need to withstand the recession.
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CHAIRMAN BEN S. BERNANKE
After more than a year and a half of financial crisis, both bankers and policymakers must contend with two questions: What have we learned from this extraordinary episode? And how can we apply those lessons to strengthen our banking system and to avoid or mitigate future crises? Getting the answers to these questions right is critical for our future financial and economic health.1
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SECURITY BREACH COST HEARTLAND $12.6 MILLION SO FAR
Heartland Payment Systems today reported that the security breach it disclosed earlier this year has cost the company about $12.6 million so far, including legal costs and fines from MasterCard and Visa, which directly contributed to a $2.5 million loss for the quarter.
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AUSTRALIA'S LARGEST COLLECTION COMPANY CHOOSES CASTEL
BEVERLY, MASS. - May 5, 2009 - Castel, Inc., a leading supplier of predictive dialer solutions, today announced that Baycorp, the largest collection company in Australia and New Zealand, has chosen Castel Connects(r) to increase the ways in which it contacts debtors and increase the volume of contact.
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SOUNDBITE COMMUNICATIONS AND TSYS TEAM UP TO HELP FINANCIAL INSTITUTIONS IMPROVE CUSTOMER COMMUNICATIONS
BEDFORD, Mass., May 7, 2009 - SoundBite Communications, Inc . (NASDAQ: SDBT) today announced it is now a preferred service provider for TSYS (NYSE: TSS) and the two companies will work together to help financial institutions improve their proactive customer communication strategies. Using SoundBite's Intelligent Communications Platform , financial institutions can easily leverage a unified, multi-channel solution that includes automated voice, text and email messaging to communicate with their customers and improve response rates for card activations, collections, fraud management, cross-selling initiatives, customer surveys, prepaid top-up and loyalty program participation.
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BAILOUT WATCHDOG: CREDIT CRUNCH ALIVE AND WELL
Despite recent encouraging signs in the economy, Americans are having a hard time getting credit and the effectiveness of government programs to spur lending is unclear, a congressional bailout watchdog said Thursday.
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MARION FINANCIAL CORP. AWARDS TWO SCHOLARSHIPS
HOUSTON, TX -May 6, 2009-- Marion Financial Corp. is pleased to announce that two high school seniors have each been awarded a $4,000 scholarship for the 2009 - 2010 academic years. The recipients of the tenth annual Marion Financial Corp. Scholarship Award are:
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LIVEVOX ANNOUNCES THE RELEASE OF INTEGRATED PAYMENT LINES FOR AROUND-THE-CLOCK COLLECTIONS
SAN FRANCISCO, LiveVox Inc., the leading provider of hosted-dialer solutions, today announced the development of integrated payment lines that allow credit and collection organizations to take automated payments 24 hours a day, 365 days a year.
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FDIC'S BAIR SAYS US NEEDS SYSTEMIC RISK COUNCIL
WASHINGTON: The United States needs a council of regulators to oversee threats to the financial system, in addition to a regulator to supervise the largest financial institutions, the head of the U.S. Federal Deposit Insurance Corp said.
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NOBLE SYSTEMS INTRODUCES OUTBOUND WFM
Atlanta, GA - May 6, 2009: Noble Systems Corporation, a global leader in innovative contact center technology solutions, introduces its innovative Outbound WFM module for NobleA(r) Workforce Management, a powerful and complete workforce management system. Noble Outbound WFM fills a void left by many WFM products which focus only on inbound communications.
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FTC TESTIFIES ON EFFORTS TO COMBAT FORECLOSURE RESCUE AND LOAN MODIFICATION SCAMS
The Federal Trade Commission today told the U.S. House Subcommittee on Housing and Community Opportunity of the Committee on Financial Services that, with the rapid increase in mortgage delinquencies and foreclosures, the FTC has intensified its efforts to protect consumers from foreclosure rescue and loan modification scams. The FTC also recommended legislative and other remedies to enhance the agency's effectiveness.
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BANK OF AMERICA SURVEY FINDS AMERICANS QUICK TO EVOLVE SPENDING HABITS IN TOUGH TIMES TO ACHIEVE SAVINGS GOALS
CHARLOTTE, N.C., May 6 /PRNewswire/ -- In the face of the most difficult economic environment in decades, more than 80 percent of American consumers indicate they are more conscious of their spending habits today compared to the beginning of 2009, according to a national survey released today by Bank of America and Dan Ariely, Duke University professor of Behavioral Economics and author of Predictably Irrational.
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JOB CUTS MAY BE STARTING TO SLOW, TWO REPORTS SHOW
The pace of U.S. job losses may be slowing, according to two private reports released Wednesday. Automatic Data Processing, a payroll-processing firm, said private-sector employment decreased by 491,000 in April, a 31% improvement from the revised 708,000 drop in March.
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FTC TESTIFIES ON DATA SECURITY, PEER-TO-PEER FILE SHARING
The Federal Trade Commission today testified on the Commission's efforts to promote better security for sensitive consumer information and to prevent the inadvertent sharing of consumers' personal or sensitive data over Peer-to-Peer Internet file-sharing networks. As part of these efforts, the agency also announced that it had reached an agreement with one of the largest privately held lenders in the United States to resolve charges that the company violated federal law by failing to provide reasonable security for consumers' sensitive information.
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CREDIT CARD LEGISLATION TO GET A FINAL VOTE THIS WEEK
A bill that targets credit card rate hikes and fees is headed for a final showdown in the Senate as key lawmakers negotiate a possible compromise measure.
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DISCOVER(r) CARD WINS BRAND KEYS CUSTOMER LOYALTY AWARD FOR 12TH CONSECUTIVE YEAR
RIVERWOODS, Ill.--(BUSINESS WIRE)--May. 5, 2009-- Discover Financial Services (NYSE: DFS) today announced that Discover(r) Card ranked No. 1 in customer loyalty among leading credit card brands, according to the 2009 Brand Keys Customer Loyalty Engagement Index(r). Discover Card has won the credit card category 12 years in a row.
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WELLS FARGO DEBUTS NEW ONLINE ADVICE RESOURCE FOR SMALL BUSINESS OWNERS
In celebration of small business owners, Wells Fargo is kicking off its annual Small Business Appreciation Campaign. Beginning in May and continuing through June, this recognition of Wells Fargo's small business customers coincides with various local and national events conducted by the Small Business Administration during National Small Business Week. As part of its 2009 campaign, Wells Fargo is introducing a new online educational video resource to help small business owners manage their businesses. The Business Insight Series video library offers advice and solutions on a range of topics, including financing and credit, marketing, healthcare and security.
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FDIC ANNOUNCES EXPANSION OF OMBUDSMAN'S OFFICE TO ASSIST CUSTOMERS WITH LOANS AT FAILED BANKS
The Federal Deposit Insurance Corporation (FDIC) today announced the creation of a new unit within the Office of the Ombudsman specifically designed to assist customers with loans at failed banks. This new unit will complement the extensive work that the FDIC conducts on behalf of the public, and is another effort to provide effective avenues to address questions or concerns of borrowers of failed banks.
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CREDIT CARD CURBS NEAR FINAL SHOWDOWN
WASHINGTON (CNNMoney.com) -- A bill that targets credit card rate hikes and fees is headed for a final showdown in the Senate as key lawmakers negotiate a possible compromise measure.
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THREE MORE BANKS FAIL
NEW YORK (CNNMoney.com) -- Three more banks shut their doors Friday, according to the federal government, bringing the total number of failures up to 32 in 2009.
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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

$2,787,122.00     Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?695
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826

$24,000,000.00     Payday Loans
Vandenberg, Chase/Nirvanna Trading
http://www.debtconnection.com/portfolio.asp?684
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3938

Agency

LEWIS SHAPIRO, LLC
888-243-4406

ROYAL RECOVERY SERVICES
770-875-1173

Bankruptcy

PRESSBURG
0040743210250

Debt Buyers

COLLINS FINANCIAL SERVICES, INC.
Mike Colby
800-570-5007
More Information

Debt Sellers

COLLINS FINANCIAL SERVICES, INC.
Mike Colby
800-570-5007
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ENGLISH FINANCIAL & ASSOCIATES
877-879-0938

FINANCIAL ACQUISITIONS MANAGEMENT
515-988-2960

Legal Networks/Services

FIRST CLASS CIVIL PROCESS
214-622-7296

Industry Events

Buyer/Seller 101
The Debt Marketplace, Inc.
Embassy Suites
Downey, California
June 11 - 12, 2009
More Information

Recovery Management Strategies & Techniques
Resouce Management Services, Inc.
Hyatt Rosemont
Chicago, IL
June 16 - 17, 2009
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Debt Connection Symposium and Expo® 2009
Resouce Management Services, Inc.
El Conquistador Resort & Golden Door® Spa
El Conquistador, Puerto Rico
September 15 - 17, 2009
More Information

Recovery Management Strategies & Techniques
Resouce Management Services, Inc.
Hyatt Place Ontario Mills
Ontario, CA
October 6 - 7, 2009
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Buyer/Seller 101
The Debt Marketplace, Inc.
Embassy Suites
Downey, California
October 13 - 14, 2009
More Information

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