LATEST WELLS FARGO SURVEY: SMALL BUSINESS OWNER OPTIMISM REMAINS LOW; OUTLOOK FOR CAPITAL SPENDING AND REVENUE IMPROVES Optimism among small business owners showed no significant change in January, despite improved business owner outlook for revenue, capital spending and cash flow, according to the latest results of the quarterly Wells Fargo/Gallup Small Business Index. read more
FTC TESTIFIES ABOUT STEPPED-UP EFFORTS TO PROTECT CONSUMERS AFFECTED BY THE ECONOMIC DOWNTURN The Federal Trade Commission today told the U.S. Senate Committee on Commerce, Science and Transportation that the agency has stepped up efforts to protect consumers affected by the economic downtown, and that additional authority would make the agency even more effective. read more
FINANCIAL REGULATORS OUTLINE SMALL BIZ LOAN EXPECTATIONS Financial regulators including the NCUA released a statement today reassuring their regulated institutions that prudently made small business loans would not face "regulatory criticism." read more
GMAC FINANCIAL SERVICES REPORTS PRELIMINARY FOURTH QUARTER AND FULL-YEAR 2009 FINANCIAL RESULTS NEW YORK (Feb. 4, 2009) -- GMAC Financial Services today reported a net loss of $5.0 billion for the fourth quarter of 2009, compared to net income of $7.5 billion for the fourth quarter of 2008. For the 2009 full year, GMAC reported a net loss of $10.3 billion, compared to net income of $1.9 billion in 2008. Results for the 2009 fourth quarter and full year were largely affected by losses related to legacy assets in the mortgage operations. Results for the 2008 fourth quarter and full year benefited from an $11.4 billion after-tax gain from the extinguishment of debt related to GMAC's bond exchange. read more
CORDRAY SUES TWO CALIFORNIA RESCUE OPERATIONS FOR SCAMMING OHIOANS FACING FORECLOSURE COLUMBUS, Ohio) - Ohio Attorney General Richard Cordray this week named United Law Group, Inc. (ULG), a California law firm founded by California attorney Sean Alan Rutledge, in a lawsuit for bilking Ohioans who faced foreclosure out of thousands of dollars. The lawsuit alleges that the law firm promised foreclosure rescue and legal services to save homes and collected upfront fees but failed to deliver. In at least one instance a consumer was forced into foreclosure. ULG's attorneys are not licensed to practice law in Ohio and never filed any court documents or provided legal representation on behalf of their clients. read more
FTC RETURNS $1.6 MILLION TO CONSUMERS SCAMMED BY BOGUS DEBT COLLECTOR The FTC will distribute $1.6 million to thousands of consumers who were scammed into paying money they did not owe by con artists who threatened, harassed and lied to them. read more
JOBLESS RATE FALLS BUT ANOTHER 20,000 JOBS LOST The U.S. economy lost 20,000 jobs in January, but the unemployment rate fell to 9.7%, according to a government report released Friday. read more
NOBLE SYSTEMS ON TRACK TO DOUBLE REVENUE IN FIVE-YEAR SPAN Atlanta, GA - 2010: Noble Systems Corporation, a global leader in innovative contact center technology solutions, today announced a projected 2010 revenue total marking a 100 percent increase over 2006 levels. The landmark five-year period points to the company's continued financial stability and expanding market position. read more
MICHIGAN GOVERNOR, LEAGUE CREATE SMALL BIZ FINANCING ALLIANCE More than 30 Michigan credit unions have already pledged $43 million for small business loans through a new alliance between Gov. Jennifer Granholm and the Michigan Credit Union League. read more
FTC PROPOSES RULE THAT WOULD BAR MORTGAGE RELIEF COMPANIES FROM CHARGING UP-FRONT FEES The Federal Trade Commission moved to protect distressed homeowners from the promoters of bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge up-front for these services. Instead, companies could only collect payment after providing services. read more
ONTARIO SYSTEMS EARNS BEST PRACTICES CERTIFICATION Muncie, IN.--Ontario Systems, a leading provider of accounts receivable and revenue cycle management solutions for collection and health care industries, has achieved the ISO 9001:2008 quality certification, which certifies that an organization has met the world-class standard for Quality Management Systems in all of their key activities. In achieving ISO 9001 certification, Ontario becomes one of the first software and solution providers in their markets to achieve the best-in-class quality standard - recognized as having world-class best practices in areas of software development, human resource practices, compliance, security, customer service, supply chain management and sales and marketing processes. read more
RESOURCE MANAGEMENT SERVICES IS PLEASED TO ANNOUNCE THAT ABSOLUTE RESOLUTIONS CORP. WILL SPONSOR A PRE-CONVENTION WORKSHOP AT THE DEBT CONNECTION SYMPOSIUM AND EXPO 2010 The workshop, titled "The Roadmap to Debt Buying" will cover topics such as identifying potential sellers, and developing purchase and sales strategies. read more
FEDERAL WATCHDOG: TARP PROGRAM OPENS WAY FOR DEEPER ECONOMIC MELTDOWN Neil Barofsky, the man tasked with overseeing the administration of the Troubled Assets Relief Program (TARP), told Congress in a report released Sunday that the bank bailouts have cleared the path to another financial crisis -- potentially even more grave than the 2008 crisis. read more
RESOURCE MANAGEMENT SERVICES, INC. IS PLEASED TO BE A PROMOTIONAL PARTNER FOR THIS FIRST-EVER VIRTUAL EXHIBITION FOR THE ARM INDUSTRY Join us as the entire ARM industry comes together to share information on the latest collection services and technology offerings - all without anyone having to leave the office! read more
SQUARETWO FINANCIAL NAMES PAUL A. LARKINS CEO DENVER, Colo. - Feb. 2, 2010 - SquareTwo Financial, a leader in the $40 billion asset recovery and management industry, today announces Paul A. Larkins as its chief executive officer. read more
PERSOLVO DATA SYSTEMS AGGREGATES OVER $100 MILLION IN DEBT SETTLEMENT SAVINGS ACCOUNT BALANCES Irvine, CA - Persolvo Data Systems (http://www.persolvodatasystems.com) announced today that the total available settlement savings balances reflected in the company's online database of debt settlement accounts now exceeds $108 million. Furthermore, the savings balances of these accounts have increased by over $20 million in the last 30 days, evidence that consumers enrolled in debt settlement programs are committed to diligently save in an effort to settle their obligations with creditors. read more
YOU LOST YOUR HOUSE - BUT YOU STILL HAVE TO PAY NEW YORK (CNNMoney.com) -- As terrible as it is to lose your house to foreclosure, at least it's a relief to put your biggest financial headache behind you, right? read more
DISCOVER(r) U.S. SPENDING MONITORSM RISES 2.2 POINTS IN JANUARY RIVERWOODS, Ill., Feb 03, 2010 (BUSINESS WIRE) -- The Discover U.S. Spending Monitor rose 2.2 points in January to 85.2 (based out of 100), primarily driven by an increase in the number of consumers feeling better about their personal finances. Despite improving views about their finances, a majority of consumers continue to rate the economy as poor and nearly half don't see economic conditions improving. As a result, consumer spending intentions were flat in January. read more
DISCOVER CEO: NEW RULES DON'T HELP THOSE WITH BEST CREDIT People with the best credit used to be able to count on the lowest credit card rates. But that's no longer necessarily going to be the case with the passage of the nation's new law on credit cards, said David Nelms, CEO of Discover Financial Services.
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TREASURY TO MAKE TARP MONEY AVAILABLE TO CDFI CREDIT UNIONS The U.S. Treasury Department will make money from the Troubled Asset Relief Program available to credit unions, banks and thrifts that have been recognized as Community Development Financial Institutions by the Department's CDFI Fund. read more
TRANSUNION STUDY FINDS MORE CONSUMERS MAKING PAYMENTS ON THEIR CREDIT CARDS BEFORE THEIR MORTGAGES A new study developed by TransUnion confirms that the "new" payment hierarchy -- where consumers pay their credit cards prior to their mortgages --is continuing, with the trend occurring more readily than ever before. read more
LIVEVOX TO PRESENT AT THE THOMAS WEISEL PARTNERS' TECHNOLOGY & TELECOM CONFERENCE 2010 SAN FRANCISCO - LiveVox Inc., the leading provider of hosted dialer solutions, today announced that Chief Executive Officer Louis Summe will present at Thomas Weisel Partners' Technology & Telecom 2010 held from Feb. 8-10 at the Fairmont Hotel in San Francisco. read more
CHASE REPORTS BIG JUMP IN HEALTH SAVINGS ACCOUNTS Chase has seen significant growth in its Health Savings Accounts - where customers can move tax-advantaged funds for medical expenses - with the banking giant reporting a 30 percent increase in HSAs for 2009 over the previous year. read more
DISCOVER INTRODUCES INTERACTIVE TOOL THAT HELPS APPLICANTS BUILD THEIR OWN CARD RIVERWOODS, Ill., Feb 02, 2010 (BUSINESS WIRE) -- Discover Financial Services today announced the launch of CardBuilder, an online tool that gives applicants the ability to select certain terms, rewards preference and card design. For the first time, CardBuilder provides prospective cardmembers with the ability to design a card based on how they want to use their Discover card. read more
ELAVON AND SANTANDER FORM A MERCHANT SERVICES ALLIANCE IN MEXICO ATLANTA & MEXICO CITY, Feb 02, 2010 (BUSINESS WIRE) -- Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB) and a leading global payments provider, has extended its relationship with Santander, one of the strongest and best capitalized banks in the world, through the establishment of a joint alliance in Mexico. read more
ATTORNEY GENERAL CUOMO ANNOUNCES NATIONWIDE AGREEMENT WITH CITIBANK TO EXTEND FREE CHECKING SERVICES BEYOND PLANNED TERMINATION DATE NEW YORK, NY (February 1, 2010) - Attorney General Andrew M. Cuomo today announced that Citibank, N.A. ("Citibank") has agreed to alter its plan to charge over one million consumers nationwide with fees on what were supposed to be "free checking" accounts. Under the agreement with Cuomo's office, Citibank will extend the benefits of these free checking accounts to consumers who signed up for them in 2009 for all of 2010. Citibank will also not charge fees on checks until January 31, 2011. Citibank had originally planned to begin charging these fees today. The fees would have cost consumers tens of millions of dollars. read more
GLASS MOUNTAIN CAPITAL LLC EXPANDS TO ACCOMMODATE 150 AGENTS PALATINE, Il -- Glass Mountain Capital LLC and its collection arm GMC Credit Services, an increasingly leading provider of debt recovery services announced the relocation of its headquarters to a larger facility at 1930 Thoreau Drive, Suite 100, Schaumburg, Illinois. GMC Credit Services recovers delinquent receivables on behalf of its credit issuer and debt buyer clients in the financial industry. read more
SEVERE UNEMPLOYMENT WORSENS IN CITIES The number of U.S. metropolitan areas with jobless rates above 15% increased in December, according to government figures released Tuesday. read more
CITIBANK TO KEEP CHECKING ACCOUNTS FREE UNTIL AT LEAST 2011 The bank had planned to start charging $9.50 a month for balances below $1,500. It holds off in a settlement with the New York attorney general, who said customers did not receive adequate notice. read more
ARE CHIP AND PIN CREDIT CARDS COMING? The U.K. is all abuzz about "chip and PIN," but it's not a popular pub snack or a nickname for the newest celebrity power couple. read more
CREDIT CARD DIVISION'S LOSSES HURT TORREY PINES BANK Torrey Pines Bank said yesterday its banking business was profitable last year but its overall results were hurt by losses in a credit card division, PartnersFirst. read more
AIDEX RECOVERY GROUP CONDUCTS MASS MESSAGE CAMPAIGNS, COMPLIANT WITH FEDERAL AND STATE LAWS, THROUGH THE HOSTED BROADCAST MESSAGING CAPABILITIES OF IAT'S CT IMPACT HOSTED SERVICES CT Impact Hosted Broadcast Messaging allows Aidex the flexibility to control its message campaigns in a compliant manner. Dan Herrejon, Aidex Director of Operations, said they alter dates and times the message is left to fit within compliant hours and to measure which time periods reach more contacts. Aidex also changes which agents handle the inbound calls from their campaigns. read more
ECONOMY GROWS AT 5.7% PACE, FASTEST SINCE 2003 WASHINGTON - The U.S. economy finished a bad year with a bang, expanding at a 5.7% annual rate in the fourth quarter of 2009, the government said Friday. read more
ONLINE RESOURCES SIGNS MULTIPLE CUSTOMIZABLE INTERNET BANKING CLIENTS Online Resources Corporation, a provider of online financial services, claimed that it has signed multiple new clients for customizable internet banking combined with other services. read more
162 UTAHNS WILL LOSE JOBS WHEN COMPUCREDIT CLOSES A Salt Lake City call center will close March 31 and 162 employees will lose their jobs in a cost-cutting move confirmed Saturday by CompuCredit, an Atlanta-based financial services company. read more
MARION FINANCIAL CORP. ANNOUNCES SCHOLARSHIP INCREASE IN THEIR 11TH YEAR OF SCHOLARSHIPS HOUSTON, TX - - In 1999, Marion Financial Corp. established an annual scholarship for participants in the accounts receivable management industry. The goal of the scholarship program is to assist with funding the education of employees, or the children of employees, who work in the accounts receivable management industry. Since its inception, scholarships have been awarded to 23 students. read more
NCO DEPLOYS TOOL FOR ANALYZING WHY CUSTOMERS CALL NCO Group, Inc., a provider of business process outsourcing services, announced the deployment of a Web-based software tool to track and analyze customer behavior patterns, leading to better, data-driven business decisions. read more
CREDIT UNIONS ARE CLOSELY WATCHING FED'S POLITICAL AND POLICY MOVES The political and policymaking sides of the Federal Reserve's role were in full view last week as the Fed kept interest rate the same and lawmakers dragged out the vote on Chairman Ben Bernanke's second term. read more
VETERANS WIN $7.4 MILLION SETTLEMENT IN FEDERAL DEBT COLLECTION CLASS ACTION Washington, DC: A $7.4 million settlement has been reached in a class action lawsuit brought against the United States government by military veterans. read more
SIX BANKS FAIL, IN FLORIDA, GEORGIA AND CALIFORNIA Regulators shuttered six banks on Friday, notching up 15 failed banks in the first month of in 2010. The biggest to fall was First Regional Bank in Los Angeles, which had deposits of $1.87 billion. The others were Community Bank and Trust in Cornelia, Ga.; Florida Community Bank in Immokalee, Fla.; First National Bank of Georgia in Carrollton, Ga.; Marshall Bank in Hallock, Minn.; and American Marine Bank in Bainbridge Island, Wash.
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N.Y. DEBT COLLECTION LAWS NEED REFORM Consumers are right to cry foul. Debt collection horror stories of harassing phone calls, threats of violence or harm, impersonation of government officials and other abusive, high-pressure tactics continue to mount. 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 | $1,398,113.00 Payday Loans PMD Financial Group, LLC http://www.debtconnection.com/portfolio.asp?845 More information about this company can be found here: http://www.debtconnection.com/moreinfo.asp?4252
$1,450,120.00 Credit Cards David Faith Corporation http://www.debtconnection.com/portfolio.asp?844 More information about this company can be found here: http://www.debtconnection.com/moreinfo.asp?4278
$224,000.00 Judgments David Faith Corporation http://www.debtconnection.com/portfolio.asp?843 More information about this company can be found here: http://www.debtconnection.com/moreinfo.asp?4278
$18,383,260.00 Payday Loans sourceitone http://www.debtconnection.com/portfolio.asp?842 More information about this company can be found here: http://www.debtconnection.com/moreinfo.asp?4407
| | Agency | DELTA OUTSOURCE GROUP, INC. 636-547-2081
JAY KANE CREDIT COLLECTIONS 610-750-6243
| | Brokers | BARNES FUNDING COMPANY 540-248-8833
| | Consultants | D.B INVESTMENT GROUP 443-682-4669
| | Debt Buyers | MATTIA & ASSOCIATES 619-303-3307
JAY KANE CREDIT COLLECTIONS 610-750-6243
AARON BELFANTI & GREEN ASSOCIATES 800-903-7133
FEDERATED CAPITAL CORPORATION 248-737-1300
JAFT ENTERPRISE, INC. 310-400-4010
BARNES FUNDING COMPANY 540-248-8833
| | Debt Sellers | MATTIA & ASSOCIATES GEORGE MATTIA 619-303-3307 More Information
LTC ENTERPRISES 716-930-3632
| | Investment Firms | BARNES FUNDING COMPANY 540-248-8833
| | Skip Tracing | USTRACKERS.COM 716-812-2587
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Industry Events
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13th Annual DBA International Conference
DBA International
The Mirage Resort and Casino
Las Vegas, NV
February 9 - 11, 2010
More Information
Committee of 100 2010 (Invite Only Event)
ACA International
Hyatt Grand Champions Resort
Palm Springs, CA
February 9 - 12, 2010
More Information
Expo 3.0
InsideARM
Online Exposition
February 16, 2010
More Information
Credit & Accounts Receivable Open Forum
Credit Research Foundation
Hilton San Diego Resort & Spa
San Diego, CA
March 8 -10, 2010
More Information
2010 Spring Forum & Expo
ACA International
DoubleTree Paradise Valley Resort
Scottsdale, AZ
March 17 - 19, 2010
More Information
14th Annual National Collections & Credit Risk Conference
American Banker
InterContinental Miami
Miami, FL
March 21 - 23, 2010
More Information
Collection and Recovery Solutions 2010
Resource Management Services, Inc.
Four Season Las Vegas
Las Vegas, NV
May 5 - 7, 2010
More Information
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| At A Glance - Wednesday, February 03, 2010 |
| At A Glance - Friday, January 29, 2010 |
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| At A Glance - Friday, January 22, 2010 |
| At A Glance - Wednesday, January 20, 2010 |
| At A Glance - Friday, January 15, 2010 |
| At A Glance - Wednesday, January 13, 2010 |
| At A Glance - Friday, January 08, 2010 |
| At A Glance - Wednesday, January 06, 2010 |
| At A Glance - Wednesday, December 30, 2009 |
| At A Glance - Wednesday, December 23, 2009 |
| At A Glance - Friday, December 18, 2009 |
| At A Glance - Wednesday, December 16, 2009 |
| At A Glance - Friday, December 11, 2009 |
| At A Glance - Wednesday, December 09, 2009 |
| At A Glance - Friday, December 04, 2009 |
| At A Glance - Wednesday, December 02, 2009 |
| At A Glance - Wednesday, November 25, 2009 |
| At A Glance - Wednesday, November 18, 2009 |
| At A Glance - Friday, November 13, 2009 |
| At A Glance - Friday, November 06, 2009 |
| At A Glance - Wednesday, November 04, 2009 |
| At A Glance - Friday, October 30, 2009 |
| At A Glance - Wednesday, October 28, 2009 |
| At A Glance - Friday, October 23, 2009 |
| At A Glance - Wednesday, October 21, 2009 |
| At A Glance - Friday, October 16, 2009 |
| At A Glance - Wednesday, October 14, 2009 |
| At A Glance - Friday, October 09, 2009 |
| At A Glance - Wednesday, October 07, 2009 |
| At A Glance - Friday, October 02, 2009 |
| At A Glance - Wednesday, September 30, 2009 |
| At A Glance - Friday, September 25, 2009 |
| At A Glance - Wednesday, September 23, 2009 |
| At A Glance - Friday, September 18, 2009 |
| At A Glance - Wednesday, September 16, 2009 |
| At A Glance - Friday, September 11, 2009 |
| At A Glance - Wednesday, September 09, 2009 |
| At A Glance - Friday, August 28, 2009 |
| At A Glance - Wednesday, August 26, 2009 |
| At A Glance - Friday, August 21, 2009 |
| At A Glance - Wednesday, August 19, 2009 |
| At A Glance - Friday, August 14, 2009 |
| At A Glance - Wednesday, August 12, 2009 |
| At A Glance - Friday, August 07, 2009 |
| At A Glance - Wednesday, August 05, 2009 |
| At A Glance - Friday, July 31, 2009 |
| At A Glance - Wednesday, July 29, 2009 |
| At A Glance - Friday, July 24, 2009 |
| At A Glance - Wednesday, July 22, 2009 |
| At A Glance - Friday, July 17, 2009 |
| At A Glance - Wednesday, July 15, 2009 |
| At A Glance - Friday, July 10, 2009 |
| At A Glance - Wednesday, July 08, 2009 |
| At A Glance - Monday, July 06, 2009 |
| At A Glance - Wednesday, July 01, 2009 |
| At A Glance - Friday, June 26, 2009 |
| At A Glance - Wednesday, June 24, 2009 |
| At A Glance - Friday, June 19, 2009 |
| At A Glance - Wednesday, June 17, 2009 |
| At A Glance - Friday, June 12, 2009 |
| At A Glance - Wednesday, June 10, 2009 |
| At A Glance - Friday, June 05, 2009 |
| At A Glance - Wednesday, June 03, 2009 |
| At A Glance - Friday, May 29, 2009 |
| At A Glance - Wednesday, May 27, 2009 |
| At A Glance - Friday, May 22, 2009 |
| At A Glance - Wednesday, May 20, 2009 |
| At A Glance - Friday, May 15, 2009 |
| At A Glance - Wednesday, May 13, 2009 |
| At A Glance - Friday, May 08, 2009 |
| At A Glance - Wednesday, May 06, 2009 |
| At A Glance - Friday, May 01, 2009 |
| At A Glance - Wednesday, April 29, 2009 |
| At A Glance - Friday, April 24, 2009 |
| At A Glance - Wednesday, April 22, 2009 |
| At A Glance - Friday, April 17, 2009 |
| At A Glance - Wednesday, April 15, 2009 |
| At A Glance - Friday, April 10, 2009 |
| At A Glance - Wednesday, April 08, 2009 |
| At A Glance - Friday, April 03, 2009 |
| At A Glance - Wednesday, April 01, 2009 |
| At A Glance - Friday, March 27, 2009 |
| At A Glance - Wednesday, March 25, 2009 |
| At A Glance - Friday, March 20, 2009 |
| At A Glance - Wednesday, March 18, 2009 |
| At A Glance - Friday, March 13, 2009 |
| At A Glance - Wednesday, March 11, 2009 |
| At A Glance - Friday, March 06, 2009 |
| At A Glance - Wednesday, March 04, 2009 |
| At A Glance - Friday, February 27, 2009 |
| At A Glance - Wednesday, February 25, 2009 |
| At A Glance - Friday, February 20, 2009 |
| At A Glance - Wednesday, February 18, 2009 |
| At A Glance - Friday, February 13, 2009 |
| At A Glance - Wednesday, February 11, 2009 |
| At A Glance - Friday, February 06, 2009 |
| At A Glance - Friday, January 30, 2009 |
| At A Glance - Wednesday, January 28, 2009 |
| At A Glance - Friday, January 23, 2009 |
| At A Glance - Wednesday, January 21, 2009 |
| At A Glance - Friday, January 16, 2009 |
| At A Glance - Wednesday, January 14, 2009 |
| At A Glance - Friday, January 09, 2009 |
| At A Glance - Wednesday, January 07, 2009 |
| At A Glance - Tuesday, January 06, 2009 |
| At A Glance - Friday, January 02, 2009 |
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