TIME IS RUNNING OUT TO REGISTER FOR THE 14TH ANNUAL RECOVERY MANAGEMENT NETWORK MEMBER CONFERENCE!!
The 14th Annual Member Conference will be held March 11-13, 2008, in Southern California, with speakers from some of the country's leading creditor organizations. The event offers creditors an enjoyable and cost-effective way to connect with their peers and industry experts on ways to overcome today’s industry challenges, including maximizing results while minimizing risk.
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HOUSE BACKS HOME LOAN REFORMS
The Oregon House Thursday passed a watered-down proposal meant to help consumers avoid predatory subprime loans and get out from under them without facing prepayment penalties.
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NORTHERN ROCK SHARES PASS INTO GOVERNMENT HANDS
LONDON (MarketWatch) -- The U.K. Treasury said Friday that it has acquired all the shares in Northern Rock, including all options and other entitlements, after a bill allowing the bank to be nationalized was given royal assent.
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FORECLOSURE PREVENTION PLAN UNDER ATTACK
Lenders trying to derail legislation that would allow bankruptcy judges to reduce mortgage balances for home owners.
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PARALLELS AND AXIGEN ANNOUNCE NEW INTEGRATED MAIL SERVER SOLUTION FOR SOFTWARE AS A SERVICE
Renton, WA, and Bucharest, Romania, February 21st, 2008 - AXIGEN, the professional mail server vendor, and Parallels (http://www.parallels.com/), worldwide leader in virtualization and automation software, announced today the launch of a strategic technological partnership, in which the companies will offer an integrated AXIGEN Mail Server and Parallels Virtuozzo Containers solution specifically for Service Providers offering virtualized hosting environments.
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ASSET ACCEPTANCE CAPITAL CORP. ANNOUNCES PRELIMINARY FOURTH QUARTER AND FULL YEAR 2007 RESULTS; WAIVER OF NONCOMPLIANCE WITH LOAN COVENANT AS OF DECEMBER 31, 2007; AND FINAL EARNINGS RELEASE DATE
WARREN, Mich., Feb. 22 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. (Nasdaq: AACC), a leading purchaser and collector of charged-off consumer debt, today announced (1) preliminary fourth quarter and full year 2007 results; (2) the receipt of a waiver of noncompliance with a financial covenant under its credit agreement, dated June 5, 2007, with JPMorgan Chase Bank and other lenders; and (3) February 26, 2008 as the date to announce final earnings results for the fourth quarter and full year 2007.
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PORTFOLIO RECOVERY ASSOCIATES REPORTS FOURTH QUARTER AND FULL YEAR 2007 RESULTS
NORFOLK, VA, Feb 21, 2008 (MARKET WIRE via COMTEX News Network) -- Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases, collects and manages portfolios of defaulted consumer receivables and provides a broad range of accounts receivable management services, today reported net income of $10.7 million, or $0.70 per diluted share, for the quarter ended December 31, 2007.
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WELLS FARGO PLANS MORE ACQUISITIONS
Wells Fargo & Co., the biggest bank on the U.S. West Coast based in San Francisco, will increase acquisitions this year, and the targets are likely to be larger than the banks bought recently, Chairman Richard Kovacevich said.
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BERNANKE TO TESTIFY ON ECONOMY BEFORE HOUSE PANEL NEXT WEEK
WASHINGTON (MarketWatch) -- Federal Reserve Chairman Ben Bernanke will testify on monetary policy and the U.S. economy on Feb. 27 before the House Financial Services Committee, that panel said Thursday. Bernanke will speak on the second of two days of the semiannual Humphrey-Hawkins hearings, said Rep. Barney Frank (D-Mass.), who chairs the committee. The hearings follow the Fed's forecast Wednesday of slower economic growth than previous forecast and higher inflation, a combination that has caused some prognosticators to worry about 1970's-style stagflation.
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FED MINUTES SHOW WORRIED CENTRAL BANKERS
WASHINGTON - Federal Reserve policymakers grew increasingly worried about the economy last month, with "several" officials noting there was a very real possibility of an actual downturn, according to minutes of meetings.
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REED ELSEVIER TO ACQUIRE CHOICEPOINT FOR $4.1 BILLION
LONDON/ALPHARETTA, Georgia -- February 21, 2008 - Reed Elsevier, a world leading publisher and information provider owned equally by Reed Elsevier PLC and Reed Elsevier NV and traded on the London, Amsterdam and New York Stock Exchanges (London: REL; Amsterdam: REN; New York: RUK and ENL), has reached an agreement to acquire ChoicePoint Inc. (NYSE: CPS), a premier provider of technology and information-based risk mitigation products in the United States. The enterprise value of the all-cash transaction is valued at approximately $4 billion (USD), based on an offer of $50 per share.
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LIVEVOX HONORED WITH 2007 COLLECTION TECHNOLOGY EXCELLENCE AWARD
SAN FRANCISCO-February 19, 2008-LiveVox, an on-demand voice portal company delivering robust outbound, inbound and automated call distribution voice applications for the billing and collections industry, today announced that it is the recipient of a 2008 Collection Technology Excellence Award presented by Collection Technology Magazine. The award recognizes LiveVox for its superior on-demand technology through the advances of the Company's Voice Portal technology with enhanced and customizable features.
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CREDIT UNIONS NEARING NEW DEAL
Representatives of Utah's banks and credit unions appear to have reached a deal that would change the way the state's credit unions make loans to their members, averting a potential initiative fight in November. "I think we have an agreement," said Senate Majority Leader Curtis Bramble, R-Provo, who has brokered the negotiations between the rivals.
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MORTGAGE CRISIS: DON'T FORGIVE DEBT, JUST POSTPONE REPAYMENT
NEW YORK (CNNMoney.com) -- A plan that would help troubled mortgage borrowers today - and might make lenders whole later on - was unveiled Wednesday in Washington.
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U.S. BANK AND VISA INC. SIGN PARTNERSHIP RENEWAL AGREEMENT
SAN FRANCISCO--(BUSINESS WIRE)--U.S. Bank and Visa Inc. announced today that they have signed a multiyear partnership agreement through which U.S. Bank will continue to offer the full range of Visa payment platforms to its consumer and business customers.
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KEY INFLATION MEASURE JUMPS SLIGHTLY MORE THAN FORECAST
Consumer prices rose in January, fanning concerns that high inflation may keep the Federal Reserve from maintaining its aggressive interest rate-cutting campaign.
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CITI AWARDED 10-YEAR CONTRACT BY U.S. DEPARTMENT OF DEFENSE
NEW YORK - Citi today announced that it has been selected to administer the U.S. Department of Defense Travel Card program. The program, the largest under the General Services Administration's umbrella SmartPay(R) 2 master contract, currently has 1.2 million cardholders accounting for 61% of government-wide travel spending in 2007.
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ENCORE CAPITAL GROUP ANNOUNCES FOURTH QUARTER AND FULL YEAR 2007 RESULTS
SAN DIEGO, Feb. 19 /PRNewswire-FirstCall/ -- Encore Capital Group, Inc. (Nasdaq: ECPG), a leading distressed consumer debt management company, today reported consolidated financial results for the fourth quarter and full year ended December 31, 2007.
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MORTGAGE APPLICATIONS DOWN 22.6% LAST WEEK: MBA
CHICAGO (MarketWatch) -- Mortgage applications filed last week dropped a seasonally adjusted 22.6% from the previous week, as interest rates on fixed-rate mortgages increased, the Mortgage Bankers Association reported Wednesday.
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GMAC FINANCIAL TO RESTRUCTURE N. AMERICAN BUSINESS
SAN FRANCISCO (MarketWatch) - GMAC Financial Services is restructuring its North American auto finance business to reduce costs and streamline operations, the company said Wednesday. The restructuring will include merging a number of separate business offices and laying off about 930 employees, representing about 15% of the workforce, mostly by the end of 2008.
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SUBPRIME LOANS DEFAULTING EVEN BEFORE RESETS
NEW YORK (CNNMoney.com) -- For months, we've fretted about the Armageddon that will hit when subprime adjustable rate mortgages start resetting to much higher interest rates.
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CONVERGYS NAMED TO GLOBAL OUTSOURCING 100
Cincinnati; February 20, 2008) - Convergys Corporation (NYSE: CVG), a global leader in relationship management, announced today the International Association of Outsourcing Professionals' (IAOP) has selected Convergys as one of the world's best outsourcing service providers.
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COLUMBUS REGIONAL HOSPITAL SELECTS TRANSUNION'S HEALTHCARE REVENUE CYCLE PLATFORM TO IMPROVE ITS EMERGENCY DEPARTMENT'S REGISTRATION PROCESS AND REDUCE BAD DEBT
CHICAGO, Feb. 19 /PRNewswire/ -- Columbus Regional Hospital, located in Columbus, Ind., has selected TransUnion's Healthcare Revenue Cycle Platform (HRCP) to help reduce bad debt typically resulting from medical bills sent to wrong addresses.
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EQUIFAX TO PRESENT AT CREDIT SUISSE 10TH GLOBAL SERVICES CONFERENCE
ATLANTA, February 18, 2008 - Equifax Inc. (NYSE: EFX) today announced that its Chief Financial Officer, Lee Adrean, will present at the Credit Suisse 10th Global Services Conference at the Arizona Biltmore Resort & Spa in Phoenix, Arizona. On Monday, February 25 at 10:30 a.m. ET, Adrean will discuss Equifax's financial profile and strategy for leveraging its unique data assets, technology leadership and global market position.
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REGULATORS' SUBPRIME MORTGAGE CASES
State regulators and cities that have filed cases or disclosed investigations targeting Wall Street firms' roles in the subprime mortgage market:
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FRIENDLY TENDER OFFER BY WEST CORPORATION FOR GENESYS CONFERENCING
OMAHA, NE, VIENNA, VA and MONTPELLIER, FRANCE, February 19, 2008 -- West Corporation ("West"), a leading provider of outsourced communication solutions, and Genesys (Euronext Eurolist: FR0004270270) ("Genesys"), a leading global multimedia collaboration service provider, today announced that West will seek to acquire Genesys and combine it with InterCall, Inc., a West subsidiary.
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CREDIT SUISSE WRITES DOWN $2.85B
ZURICH, Switzerland (AP) -- Credit Suisse says it has suspended some of its traders in connection with the overvaluation of assets by $2.85 billion.
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PENTAGON FEDERAL CREDIT UNION CHOOSES FISERV FOR END-TO-END PAPERLESS LENDING
BROOKFIELD, Wis. - Fiserv, Inc. (NASDAQ: FISV), a leading provider of information management and ecommerce systems and services, today announced that Pentagon Federal Credit Union, with 764,000 members and assets in excess of $11.2 billion making it one of the largest credit unions in the United States, has chosen the Nautilus Enterprise Content Management (ECM) system to image-enable its mortgage processing functions.
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SECRETARY PAULSON STATEMENT
Washington- Treasury Secretary Henry M. Paulson, Jr. released the following statement today regarding the HOPE NOW Alliance's adoption of Project Lifeline as one method of reaching the most vulnerable homeowners.
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CITI TO SELL OR CLOSE SOME OVERSEAS UNITS, REPORT SAYS
SAN FRANCISCO (MarketWatch) -- Citigroup Inc. is selling or closing some retail branches and consumer-finance operations in Asia, Europe and Latin America as the bank tries to focus on businesses with higher profit potential, The Wall Street Journal reported on Tuesday.
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BARCLAYS BANKS LOWER PROFITS DUE TO CREDIT CRUNCH
LONDON, Feb 19, 2008 (AFP) - Barclays, Britain's third-biggest bank, said on Tuesday that net profits sank in 2007 owing to fallout from the US subprime housing crisis and the related global credit squeeze.
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THE FDIC AT 75: HOW IT PROTECTS CONSUMERS AND HOW CONSUMERS CAN PROTECT THEMSELVES
In the 75 years since the FDIC was created, no depositor has ever lost a single penny of FDIC-insured funds. But while the FDIC may be "famous since 1933," consumers may not fully understand how the agency serves them and how to benefit by more fully using the FDIC's products and services.
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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 | $767,863.00 Other
Pacific Healthcare Services, Inc.
http://www.debtconnection.com/portfolio.asp?489
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3122
$4,983,071.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?486
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$1,848,594.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?484
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?482
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$314,578.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?475
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$5,109,589.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?474
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$838,322.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?473
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$429,230.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?472
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$7,237,301.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?471
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$478,251.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?476
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$1,594,968.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?470
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$519,392.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?469
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$2,662,992.00 Medical
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?468
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$10,000,653.00 Other
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?467
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$3,127,674.00 Consumer Loans
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?466
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$1,166,890.00 Auto Deficiencies, Consumer Loans, Credit Cards, Judgments
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?465
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$2,144,000.00 Consumer Loans
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?464
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
| | Agency | PACIFIC HEALTHCARE SERVICES, INC.
800-314-6408
| | Debt Buyers | ASSET RECOVERY GROUP
716-775-4011
STARCAST GROUP
817-284-8165
| | Debt Sellers | PACIFIC HEALTHCARE SERVICES, INC.
Ryan Evans
800-314-6408
More Information
|
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Industry Events
|
InterACT Europe Snapshot
InterACT: A Fair Isaac Forum
Hilton Vienna
Vienna, Austria
March 3 - 6, 2008
(800) 496-7001
More Information
Credit & Collection Business Academy
ACA International
Delray Beach Marriott
Delray Beach, Florida
March 9 - 12, 2008
(952) 928-8000 Ext. 125
More Information
NASP 2008 Subrogation Litigation Skills Conference
National Association of Subrogation Professionals (NASP)
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
March 27 - 28, 2008
(800) 574-9961
More Information
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| At A Glance - Wednesday, May 07, 2008 |
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| 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 |
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| 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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