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COLLECTION AND RECOVERY SOLUTIONS 2008
Collection and Recovery Solutions 2008 is a content rich educational conference focused on the strategies and resources for maximizing collection and recovery outcomes. The CRS 2008 goal is to enrich the intensity of the conference for the exhibitor, attendee and sponsor alike with an unparalleled learning experience. Collection and Recovery Solutions is an exclusive gathering of industry professionals.
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BANK OF AMERICA CHARITABLE FOUNDATION CONTRIBUTES $1 MILLION TOWARD MUSEUM OF DISCOVERY AND SCIENCE CAPITAL CAMPAIGN
FORT LAUDERDALE, Fla., Feb. 27 /PRNewswire/ -- The Museum of Discovery and Science today received a $1 million grant from the Bank of America Charitable Foundation in support of the $20 million "Building New Pathways to Discovery" capital campaign. Ken Lewis, the Chairman and CEO of Bank of America, announced the grant during a reception and capital campaign update, which included the unveiling of plans for the new Visitor Pavilion in the Museum's Grand Atrium.
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FORECLOSURE BILL FACES VETO FORECLOSURES: THE WHITE HOUSE SAYS A BILL TO PROVIDE $4 BILLION TO PURCHASE AND REHABILITATE FORECLOSED HOMES "WOULD CONSTITUTE A BAILOUT FOR LENDERS AND SPECULATORS."
The White House promised on Tuesday to veto a bill seeking to follow up the recent economic stimulus package with several proposals to shore up the struggling housing market and reduce foreclosures.
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FTC CHARGES THREE INTERNET PAYDAY LENDERS WITH NOT DISCLOSING REQUIRED APR INFORMATION IN ADS
Three payday lenders have agreed to settle Federal Trade Commission charges that their Internet advertising stated the cost of loans without disclosing annual percentage rate information that federal law requires. This information helps consumers compare the costs of these payday loans to other payday loans and to alternative forms of short-term credit. The settlements require that the lenders must disclose the annual percentage rate in similar loan ads in the future.
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BERNANKE: GROWTH, INFLATION CONCERNS
WASHINGTON (CNNMoney.com) -- The economy faces the prospect of slower growth, but increasing concerns over inflation could complicate the Federal Reserve's efforts to stimulate the economy, Fed Chairman Ben Bernanke told lawmakers Wednesday.
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HSBC BANK CANADA EARNINGS UP IN 2007
VANCOUVER–A loss on asset-backed commercial paper knocked down fourth-quarter earnings at HSBC Bank Canada by 13 per cent to $111 million, compared with $128 million a year earlier.
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CONSUMER CONFIDENCE LOWEST SINCE NOVEMBER 2003
A key measure of consumer confidence dropped significantly in February, to the lowest level in more than 14 years, amid mounting concerns about jobs and slowing business activity.
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BERNANKE VS. THE ECONOMY
NEW YORK (CNNMoney.com) -- It's no rest for the weary, or at least for Federal Reserve Chairman Ben Bernanke.
After testifying before lawmakers earlier this month alongside Treasury Secretary Henry Paulson, the Fed chief returns to Capitol Hill Wednesday and Thursday to appear before the House Financial Services and Senate Bank committees.
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TRANSUNION ADDRESSES OHIO ATTORNEY GENERAL'S CONCERNS SURROUNDING NON-PROFIT TAX-EXEMPT STATUS
CHICAGO, Feb. 25 /PRNewswire/ -- The TransUnion Healthcare Revenue Cycle Platform, a solution that automates the process that assists hospitals in determining whether a patient is eligible for charity or other financial assistance, addresses many of Ohio Attorney General Marc Dann's concerns regarding state property tax exemptions for not-for-profit hospitals.
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JANUARY FORECLOSURES UP 57%
NEW YORK (CNNMoney.com) -- Foreclosure filings nationwide soared 57% in January over the same month last year - another indication that the nation's housing woes are deepening.
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ASSET ACCEPTANCE CAPITAL CORP. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2007 RESULTS
WARREN, Mich., Feb. 26 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. (Nasdaq: AACC), a leading purchaser and collector of charged-off consumer debt, today announced financial results for its fourth quarter and fiscal year ended December 31, 2007.
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BANKS AND THRIFTS EARNED $105.5 BILLION IN 2007
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported net income of $105.5 billion in 2007, a decline of $39.8 billion (27.4 percent) from the record $145.2 billion that the industry earned in 2006. Although this ended a string of six consecutive years of record earnings for the industry, income was still above the $100 billion mark for the sixth year in a row. Higher provisions for loan losses -- primarily due to weakness in residential mortgage and construction loans -- and sharply lower trading revenue were primarily responsible for the drop in full-year earnings. The bulk of the earnings decline was attributable to a few large institutions, but fewer than half of all insured institutions (49.2 percent) reported increased net income in 2007. In addition, the FDIC reported that fourth-quarter earnings dropped to $5.8 billion, their lowest level since the fourth quarter of 1991.
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FIRST DATA EARNS MULTI-YEAR DEBIT RENEWAL WITH WELLS FARGO
DENVER & SAN FRANCISCO, Feb 26, 2008 (BUSINESS WIRE) -- First Data Corp., a global leader in electronic commerce and payments, has signed a multi-year contract extension with Wells Fargo Bank to provide debit processing services to Wells Fargo for its 19.6 million debit cards.
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FORECLOSURE BILL FACES SENATE TEST
NEW YORK (CNNMoney.com) -- Foreclosure gets Congress' attention Tuesday when the Senate decides whether to end debate on a bill aimed at helping homeowners avoid losing their homes.
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SOUNDBITE TO DISCUSS AUTOMATED VOICE MESSAGING AT PLATT'S CREDIT AND COLLECTIONS FOR UTILITIES CONFERENCE
Platt's Credit and Collections for Utilities Conference, Miami, Fla., February 25, 2008 - SoundBite Communications, Inc. (NASDAQ: SDBT), a leading provider of on-demand automated voice messaging solutions, today announced that it will sponsor a luncheon where it will discuss how utilities can easily add SoundBite’s service to their existing customer contact strategy to recover outstanding revenue more efficiently. The luncheon will include a brief overview of how energy and utility companies are using SoundBite today to communicate with customers and collect debt faster and at a lower cost. Many of the largest utilities in the U.S. leverage SoundBite to collect debt, improve customer care, and quickly communicate important information to customers.
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DISCOVER(R) SMALL BUSINESS WATCH(SM): SMALL BUSINESS ECONOMIC CONFIDENCE REBOUNDS AFTER SIX-MONTH SLIDE
RIVERWOODS, Ill.--(BUSINESS WIRE)--Feb. 25, 2008--Small business owners' attitudes about the U.S. economy in February improved for the first time since July 2007, according to the Discover Small Business Watch. The monthly index rose in February to 90.9, a 4.6-point increase over January's 86.3 with noticeable changes in how small business owners view the overall economy and the conditions for their own businesses.
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MASS.: BANK OWES $53M IN TAXES
BOSTON (AP) - The Massachusetts Department of Revenue says Bank of America owes the state $53 million dollars in taxes.
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GMAC LOANS $635M TO ITS MORTGAGE UNIT
GMAC LLC, the lender partially owned by General Motors Corp., agreed to loan as much as $750 million to its residential mortgage unit as it seeks to sell a business that finances vacation resorts.
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BANKATLANTIC RENEWS CREDIT CARD MANAGEMENT AGREEMENT WITH BARCLAYCARD US
WILMINGTON, Del., Feb. 25 /PRNewswire/ -- Barclaycard US today announced that BankAtlantic, one of the largest financial institutions headquartered in Florida, has extended its co-branded credit card agreement with Barclaycard. As part of the agent bank agreement, Barclaycard US will continue to provide BankAtlantic customers with a broad range of consumer, small business and student credit cards -- branded under the BankAtlantic name. In addition, BankAtlantic checking account customers will be able to link an overdraft protection line to their BankAtlantic credit card.
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ELDERLY WOMAN RESCUED FROM BURNING BUILDING BY GREG OUSLEY
An elderly woman is alive and recovering tonight from a house fire thanks to a total stranger. Most people when they see a fire just call 911 and wait for emergency crews to arrive, but for Greg Ousley that wasn't good enough. With his wife and two kids in the car he stopped to see if anybody was inside. He told us he assumed nobody was inside but when he pounded on the door everything changed.
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BLUEHIPPO DEFENDANTS WILL PAY UP TO $5 MILLION TO SETTLE FTC CHARGES
Two companies that offer to finance the sale of personal computers to consumers with poor credit ratings have agreed to pay up to $5 million for consumer redress to settle Federal Trade Commission charges that they violated federal laws.
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VISA IPO COULD BE BIGGEST IN U.S. HISTORY
Credit card company Visa Inc. said Monday it plans an initial public offering that could reach $18.76 billion US - which would make it the largest IPO in U.S. history.
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WHEN CREDIT CARDS PUT YOU IN JEOPARDY
CNN) -- Americans are drowning in debt.
Consumers have racked up more than $2.2 trillion in purchases and cash advances on major credit cards in just the last year. And it's become a habit for them to spend more than they have. The overall credit card debt grew by 315 percent from 1989 to 2006, according to public policy research firm Demos.
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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

$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

$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

$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

$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

SENTRY CREDIT, INC.
Richard Sleeth
425-258-5151
More Information

UNITED ASSET GROUP
772-539-0276

WILLIAMS, CHARLES & SCOTT LTD.
631-462-1553

Brokers

H & H ASSOCIATES, LLC
347-249-4644

Consultants

PORTSIDER GROUP
JOHN ROUSSEAU
602-308-9341
More Information

H & H ASSOCIATES, LLC
347-249-4644

Debt Buyers

CONTROL DATA INC
727-541-5400

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 Archive 2007 20062005

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