INDIVIDUAL BANKRUPTCY FILINGS UP 27%
NEW YORK - The number of individuals filing for bankruptcy surged during the first-quarter as American households struggled to stay on top of debt, according to a report released Wednesday.
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FAIR ISAAC DRIVES GROWTH AND PROFITABILITY THROUGH REENGINEERING PLAN
Minneapolis, Minnesota - Fair Isaac Corporation (NYSE: FIC), the leading provider of analytics and decision technology, today announced details of a reengineering plan designed to grow revenues through strategic resource reallocation and improve profitability through significant cost reduction. Key components of the plan include rationalizing the business portfolio, simplifying management hierarchy, eliminating low-priority positions, consolidating facilities and aggressively managing fixed and variable costs.
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BERNANKE SEES RECESSION RISK
NEW YORK - Federal Reserve Chairman Ben Bernanke, in his most pessimistic and blunt assessment to date, said Wednesday that a "recession is possible" for the U.S. economy.
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HORSHAM DEBT COLLECTOR POSTS QUARTERLY NET LOSS
NCO Group Inc., a Horsham debt collector and customer-service provider, today reported a loss of $22.1 million for the 2007 fourth quarter.
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DISCOVER(R) U.S. SPENDING MONITOR(SM) FALLS IN MARCH
RIVERWOODS, Ill.- The Discover U.S. Spending Monitor reached a new low in March as consumers grew even more concerned about the economy and their personal finances in the face of rising monthly expenses. The March Monitor fell to 85.1, down more than a full point from the previous month and lower by 11 points than just six months ago.
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TRANSUNION.COM QUARTERLY CREDIT CARD ANALYSIS NOTES 4.81 PERCENT NATIONAL INCREASE IN BANKCARD DEBT, FORECASTS 0.5 PERCENT RISE IN DELINQUENCY RATE
CHICAGO - Analysis of trends in the credit card lending industry during the 4th quarter of 2007 was made available today on TransUnion.com. The report is the first in a planned series of quarterly consumer lending sector analyses TransUnion will release on the site.
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CHAIRMAN BEN S. BERNANKE
Chairman Schumer, Vice Chairman Maloney, Representative Saxton, and other members of the Committee, I am pleased to appear before the Joint Economic Committee. In response to deterioration in the near-term outlook for the economy and intensified strains in financial markets, in recent months the Federal Reserve has eased monetary policy substantially further and taken strong actions to increase market liquidity. In my remarks today, I will first offer my views on conditions in financial markets and the outlook for the U.S. economy, then discuss recent actions taken by the Federal Reserve.
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THE FEDERAL RESERVE BOARD ON TUESDAY ANNOUNCED ITS APPROVAL OF THE PROPOSAL BY JP MORGAN CHASE & CO., NEW YORK, NEW YORK, TO ACQUIRE BEAR STEARNS BANK & TRUST, PRINCETON, NEW JERSEY.
JP Morgan Chase & Co. is not required to obtain the Board's prior approval under the Bank Holding Company Act to acquire The Bear Stearns Companies, Inc., New York, New York.
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CONVERGYS MAKES KEY LEADERSHIP CHANGES TO STRENGTHEN AND SIMPLIFY THE ORGANIZATION
Cincinnati - Convergys Corporation (NYSE: CVG), the global leader in relationship management, announces the appointment of Andrea Ayers to the position of President, Customer Management line of business. She continues to report to Dave Dougherty, President and Chief Executive Officer.
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LOAN-SALE ADVISORY FIRM GARNET CAPITAL ADVISORS, LLC ANNOUNCED THAT SENIOR BANKING-INDUSTRY EXECUTIVE MAURICE H. HARTIGAN II HAS JOINED THE FIRM AS LIMITED PARTNER AND DIRECTOR OF STRATEGIC DEVELOPMENT.
Mr. Hartigan joins Garnet following 43 years in the financial services industry, most recently as CEO of The Risk Management Association, the financial-services industry's most prominent association of risk professionals. During his tenure at RMA, Hartigan led the Association to a period of dramatic growth in membership, revenues and profitability. He retired from RMA in July of 2007. Previously, he held senior positions in both client and risk management at PNC Financial Services and at Chemical Bank (now JPMorgan Chase), where he was Head of Wholesale Client Management, Head of International Banking and Chair of the Credit Risk Policy Committee.
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STALLED HOUSING BILL MOVES FORWARD IN SENATE
WASHINGTON - Senate leaders have agreed to move forward on stalled legislation aimed at easing the impact of the falling housing market, the chamber's top Republican and Democrat announced Tuesday.
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THE FEDERAL RESERVE SYSTEM ON TUESDAY ANNOUNCED THE AVAILABILITY OF A SET OF DYNAMIC MAPS AND DATA THAT ILLUSTRATE SUBPRIME AND ALT-A MORTGAGE LOAN CONDITIONS ACROSS THE UNITED STATES.
The maps, which are maintained by the Federal Reserve Bank of New York, will display regional variation in the condition of securitized, owner-occupied subprime, and alt-A mortgage loans. The maps and data can be used to assist in the identification of existing and potential foreclosure hotspots. This may assist community groups, which can mobilize resources to bring financial counseling and other resources to at-risk homeowners. Policymakers can also use the maps and data to develop plans to lessen the direct and spillover impacts that delinquencies and foreclosures may have on local economies. Local governments may use the data and maps to prioritize the expenditure of their resources for these efforts.
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UBS, DEUTSCHE LOSSES MOUNT, BUT BANK FOG CLEARING
LONDON - UBS and Deutsche Bank took a $23 billion hit on their risky assets and the Swiss bank asked investors for more cash on Tuesday, but Europe's bank shares rallied on hopes that the end of another torrid quarter could mark a turning point.
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NEVADA FORECLOSURES MAKING HOUSING PERSONAL FOR REID
The housing crisis has hit Nevada harder than any other state, creating a highly personal issue for Senate Majority Leader Harry Reid (D-Nev.).
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FIRST DATA CUTTING 40% OF JOBS IN DAYTONA BEACH CALL CENTER
Credit-card processor First Data Corp. is laying off nearly 40 percent of its employees at its customer-service call center in Daytona Beach, the latest in a series of moves toward shuttering the operation, company officials said Monday.
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THE TRUTH ABOUT CELL PHONES AND THE DO NOT CALL REGISTRY
The Federal Trade Commission today reiterated that despite the claims made in e-mails circulating on the Internet, consumers should not be concerned that their cell phone numbers will be released to telemarketers in the near future, and that it is not necessary to register cell phone numbers on the National Do Not Call (DNC) Registry to be protected from most telemarketing calls to cell phones.
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FEDERAL RESERVE BANKS ANNOUNCE RESTRUCTURING SCHEDULE CHANGES
Minneapolis, Minn. - The Federal Reserve Banks today announced modifications to the schedule for previously announced check processing infrastructure changes as consumers and businesses continue the shift from using paper checks toward electronic payments and as financial institutions rapidly adopt electronic check processing.
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DISCOVER FINANCIAL SERVICES NAMES NEW CHIEF ACCOUNTING OFFICER
RIVERWOODS, Ill.- Discover Financial Services today announced that Kevin Killips has been named controller and chief accounting officer. In this newly created position, Killips will oversee all aspects of Discover Financial Services' accounting function. He will report directly to Roy A. Guthrie, chief financial officer for Discover.
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CITIGROUP OVERHAULS STRUCTURE
NEW YORK - Citigroup said Monday it was reorganizing its consumer group into two businesses as part of a broader overhaul of its corporate structure.
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EXPERIAN AUTOMOTIVE ANNOUNCES INDUSTRY'S FIRST AUTOMOTIVE CREDIT REPORT
Experian Automotive, a part of global information services company Experian, today announced the industry's first automotive-specific credit profile report. Designed expressly for automotive dealers and lenders, Experian's Automotive Credit ProfileSM helps those financing automotive loans more quickly and accurately make the best decision in financing the right vehicle for the right buyer.
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2 CHARGED IN NYC IN COLLECTION SCAM
NEW YORK - Two men have been indicted on charges of running bogus collection agencies that stole nearly $1.24 million in debts from dozens of businesses around the country.
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WILLIAM E. KOVACIC ASSUMES POSITION AS FEDERAL TRADE COMMISSION CHAIRMAN
Commissioner William E. Kovacic today assumes the role of Chairman of the Federal Trade Commission. On March 26, President George W. Bush announced his intention to designate Kovacic to serve as Chairman upon the departure of Deborah Platt Majoras. Kovacic has served as a Commissioner at the agency since January 2006, following his nomination by the President and confirmation by the U.S. Senate.
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NEW TOWERGROUP SURVEY COMMISSIONED BY FAIR ISAAC TO PROVIDE INSIGHT INTO DECISION MANAGEMENT PRACTICES OF MAJOR CARD ISSUERS AND CONSUMER LENDERS
Minneapolis, Minnesota - Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, announced today that leading research and advisory services firm TowerGroup will present findings of an exclusive decision management survey of major credit card issuers and consumer lenders at its 2008 North American InterACT customer conference, to be held April 27-30 in San Francisco.
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CREDIT CARDS GO AFTER COLLEGE STUDENTS
Banks are getting more aggressive - and creative - in their efforts to pitch credit cards to college students by hawking cards near college campuses and striking exclusive partnerships with college alumni associations, according to a growing body of research.
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BANK OF AMERICA UNVEILS PAYOUT FOR COUNTRYWIDE EXECS
NEW YORK - The two top executives at Countrywide Financial Corp. -- the nation's largest mortgage lender -- are slated to receive a combined $19 million in payouts as part of the company's pending takeover by Bank of America, according to regulatory filing this week.
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PAULSON OFFERS SWEEPING RULE CHANGES
NEW YORK - Treasury Secretary Henry Paulson on Monday proposed a set of sweeping changes to the nation's financial system, including a broad expansion of the Federal Reserve's powers, in what could herald the biggest regulatory overhaul of Wall Street since the Great Depression.
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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 | $1,848,594.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?508
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$1,468,356.00 Credit Cards, Telecommunications
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?507
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$6,307,097.00 Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?505
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$10,502,381.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?504
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?503
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$1,423,593.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?502
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$5,777,052.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?501
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$17,114,377.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?500
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$15,333,934.00 Other
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?499
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?498
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$8,857,035.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?497
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$247,259.00 Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?495
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$992,717.00 Medical
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?494
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$10,412,982.00 Credit Cards
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?492
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$750,485.00 Credit Cards
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?491
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
| | Agency | UNITED RECOVERY SYSTEMS, LP
Sean Keegan
713-977-1234
More Information
ASSOCIATED CREDIT SERVICES, INC.
Janette Shives
800-409-4313
More Information
| | Attorney | GREG KARUNGO
+254733735423
| | Brokers | WORLDWIDE DEBT EXCHANGE
866-332-8648
| | Contact Solutions/Dialers | I GLOBAL SERVICES
40051201
| | Debt Buyers | PORTFOLIO RECOVERY ASSOCIATES, LLC
Craig Grube
757-961-3533
More Information
PEAK5
Rashad Miller
877-500-4646
More Information
DEBT TRADE PARTNERS, LLC
Walter Frye
888-828-9957
More Information
COLLECTION HOUSE
+254203540180
| | Debt Sellers | WORLDWIDE DEBT EXCHANGE
Mandy L. Silva
866-332-8648
More Information
| | Legal Networks/Services | AMERICAN ALLIANCE OF CREDITOR ATTORNEYS
Tom Balcerzak
614-523-2251
More Information
| | Software | BFRAME DATA SYSTEMS INC.
charlie bowden
678-387-0100
More Information
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Industry Events
|
26th Annual Spring Meeting
American Bankruptcy Institute
Renaissance Hotel
Washington, DC
April 3 - 6, 2008
(703) 739-0800
More Information
Auditor Training Course 2008 for Creditors and Debt Buyers
Resource Management Services, Inc.
Southern California
April 8 - 11, 2008
(562) 906-1101
More Information
March For Success
ACA International
Green Valley Ranch, Resort & Spa
Las Vegas, NV
April 9 - 11, 2008
(562) 906-1101
More Information
Austin Logistics' Impact 2008: Survival of the Smartest
Austin Logistics
Four Seasons Hotel
Austin, TX
April 14- 16, 2008
(512) 328-8215
More Information
The Smarter Decisions Conference
InterACT: A Fair Isaac Forum
Luxury Collection Palace Hotel
San Francisco, California
April 27 - 30, 2008
(800) 496-7001
More Information
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| 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 |
| At A Glance - Friday, April 04, 2008 |
| At A Glance - Wednesday, April 02, 2008 |
| At A Glance - Friday, March 28, 2008 |
| At A Glance - Wednesday, March 26, 2008 |
| 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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