BARELY SURVIVING ON CREDIT CARDS
NEW YORK (CNNMoney.com) -- These days, more and more people are saying "Charge it."
read more
CITIGROUP AIMS TO SELL $400 BILLION OF ASSETS
PHILADELPHIA (Reuters) — Citigroup (C), the largest U.S. bank, said Friday it aims to shed $400 billion of assets over the next two to three years, in a drive to become more efficient.
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SOUNDBITE COMMUNICATIONS AND AUSTIN LOGISTICS TO HOST WORKSHOP ON IMPROVING COLLECTIONS PERFORMANCE IN TODAY'S VOLATILE ECONOMY
Bedford, Mass. - May 8, 2008 - SoundBite Communications, Inc. (NASDAQ: SDBT), a provider of on-demand customer contact solutions, and Austin Logistics, the leading provider of event-based decision support solutions, will host a joint workshop entitled “How to Improve Collections and Recovery Performance in Today’s Volatile Economy” at The Hyatt Regency in Phoenix, Arizona on Thursday, May 22 at 8:00 a.m. PT
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MADIGAN BILL REQUIRES LENDERS TO PROVIDE INFO TO HELP STRUGGLING HOMEOWNERS AVOID FORECLOSURE
Chicago – Attorney General Lisa Madigan, State Representative Marlow Colvin (D-33rd) and State Senator Jacqueline Collins (D-16th) have initiated new legislation to assist struggling homeowners to help save their homes. The measure, introduced as the Homeowner's Rights Act (HB 838) by Rep. Colvin and set to be sponsored in the Senate by Sen. Collins, was voted out of house committee Wednesday and, if passed, will amend the Illinois Mortgage Foreclosure Law.
read more
FTC WARNS CONSUMERS ABOUT POTENTIAL CHARITY SCAMS
The Federal Trade Commission is urging consumers to be cautious of potential charity scams in connection with the devastating cyclone in Myanmar. Scam artists may take advantage of this situation by creating bogus fund-raising operations. The FTC has issued a Consumer Alert, the "FTC Charity Checklist," which lists precautions consumers should take when donating to charities. The alert, available at, http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt114.shtm, advises consumers to be wary of appeals that tug at your heart strings, especially pleas involving current events. If you are asked to contribute to a charity, the FTC recommends that you:
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CITIGROUP INC. CUTS WILL COST ABOUT 900 JOBS AT RANCHO CUCAMONGA LENDING OFFICE
Nearly 900 workers at a Citi Residential Lending office in Rancho Cucamonga will lose their jobs as part of Citigroup Inc.'s plan to shed about 9,000 workers across the country.
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WACHOVIA STRIPS ITS CEO OF HIS CHAIRMAN'S POSITION
Wachovia Corp., the fourth-largest U.S. bank, stripped chief executive officer Kennedy Thompson of his role as board chairman after the company said its first-quarter loss was almost twice as big as first reported.
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DISCOVER(R) CARD WINS BRAND KEYS CUSTOMER LOYALTY AWARD FOR 11TH CONSECUTIVE YEAR
RIVERWOODS, Ill.--(BUSINESS WIRE)--May 8, 2008--Discover Financial Services (NYSE: DFS) today announced that Discover(R) Card is ranked No. 1 in customer loyalty among leading credit card brands, according to the 2008 Brand Keys Customer Loyalty Engagement Index(R) report. Discover Card has won the credit card category in the index 11 years in a row.
read more
MORTGAGE CRISIS SEEPS TO PRIME LOANS
The first concrete evidence that delinquencies on mortgage bills have spread well beyond those with subpar credit shows that even prime borrowers have increasingly fallen behind on their house payments.
read more
HOUSE OKS CONTROVERSIAL HOUSING PLAN
NEW YORK (CNNMoney.com) -- The House on Thursday passed a contentious foreclosure-prevention package, which still faces a veto threat from the White House and an uncertain fate in the Senate.
read more
AGENCIES ISSUE PROPOSED RULES ON RISK-BASED PRICING NOTICES
The Federal Trade Commission and the Federal Reserve Board today announced proposed regulations that generally would require a creditor to provide a consumer with a risk-based pricing notice when, based in whole or in part on the consumer's credit report, the creditor offers or provides credit to the consumer on terms less favorable than the terms it offers or provides to other consumers.
read more
EBUREAU HIRES CREDIT AND COLLECTIONS INDUSTRY VETERAN
ST. CLOUD, Minn. - May 6, 2008 - eBureau, an innovative provider of custom predictive scoring
and information solutions, today announced it has appointed Nancy McLaughlin, a well-known and longtime
credit and collections industry executive, to the role of vice president.
read more
ATTORNEY GENERAL ABBOTT REACHES AGREEMENT TO PROTECT CHECK 'N GO CUSTOMERS FROM IDENTITY THEFT
EL PASO - Texas Attorney General Greg Abbott today reached an agreement with CNG Financial Corp. and its subsidiaries, Check ‘n Go of Texas, Inc. and Southwestern & Pacific Specialty Finance, Inc., to protect Texas customers from identity theft. The settlement resolves the state’s May 2007 enforcement action, which charged the defendants with violating laws that govern the disposal of customer records containing sensitive personal information.
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POLL: AMERICANS ALMOST EVENLY SPLIT ON HOME BAILOUT
Americans remain split on whether homeowners about to default on their mortgages should receive special treatment to help them keep their houses, according to a new CNN/Opinion Research Poll.
read more
DISCOVER(R) U.S. SPENDING MONITOR(SM) SHOWS LITTLE MOVEMENT IN APRIL, AS CONSUMERS TRY TO BALANCE THEIR BUDGETS IN THE WAKE OF HIGH ENERGY PRICES
RIVERWOODS, Ill., May 07, 2008 (BUSINESS WIRE) -- The April Discover U.S. Spending Monitor reflected a continuing pattern of economic concern from consumers in the face of rising expenses. For the last four months including April, the Monitor has remained in the 85-86 range. The April index rose a scant .3 from March when the index hit its lowest point ever. The up-tick to 85.4 was primarily the result of higher spending expectations.
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LEXISNEXIS© RISK & INFORMATION ANALYTICS GROUP EXECUTIVE AUTHORS BOOK ON BACKGROUND SCREENING BEST PRACTICES
NEW YORK, NY, May 06, 2008 - LexisNexis Risk and Information Analytics Group today announced the publication of Background Screening and Investigations: Managing Hiring Risk from the HR and Security Perspectives (Elsevier Inc.; 2008), by Kim Kerr, vice president and general manager of LexisNexis Risk & Information Analytics Group.
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SOUNDBITE COMMUNICATIONS REPORTS FIRST QUARTER 2008 FINANCIAL RESULTS
BEDFORD, Mass. - May 7, 2008 - SoundBite Communications, Inc. (NASDAQ: SDBT), a leading provider of on-demand customer contact solutions, today announced its financial results for the first quarter 2008. First quarter revenues were $10.6 million, an increase of 21% from the same quarter in 2007. GAAP loss per share was $0.10 versus a loss of $1.37 in the same quarter of 2007.
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WHITE HOUSE THREATENS VETO OF FHA-RESCUE BILL
The House on Wednesday began debate on a housing package that would let the government back loans for homeowners at risk of foreclosure - a move many Republicans have opposed and which the White House has threatened to veto.
read more
NEW JOBLESS CLAIMS FALL IN LATEST WEEK
New filings for unemployment claims fell more than expected in the latest week, according to a government report released Thursday.
read more
GMAC NEGOTIATING TERMS OF LOAN TO KEEP MORTGAGE SUBSIDIARY OUT OF BANKRUPTCY
Finance company GMAC LLC, which is partly owned by General Motors Corp., is negotiating terms of a a $3.5 billion loan for its struggling mortgage subsidiary Residential Capital LLC to keep it out of bankruptcy long enough to find a buyer or break it up, Bloomberg reported today.
read more
FED MOVES ON CREDIT CARD CRACKDOWN
NEW YORK (CNNMoney.com) -- The Federal Reserve on Friday pushed ahead with a proposal to stop abuses by credit card issuers, a day after two other key bank regulatory agencies proposed effectively the same package of new rules.
read more
FANNIE MAE LOSES $2.2 BILLION
Fannie Mae reported a net loss of $2.2 billion in the first quarter, with the government-backed lender saying it expected weakness in the housing market to continue into next year.
read more
AMERICANS SKEPTICAL OF FED
NEW YORK (CNNMoney.com) -- The Federal Reserve bears much of the responsibility for keeping the nation's economy on track but few Americans are fully convinced that the central bank can improve the country's financial situation.
read more
TENET HEALTHCARE RESULTS HIT HARD BY CHARGES
Tenet Healthcare Corp. reported first-quarter losses Tuesday, but after stripping out special charges, the Dallas company said its earnings were $17 million.
read more
CAPITAL ONE SUES BROWN OVER ACCESS TO RECORDS
SAN FRANCISCO (Legal Newsline)-Capital One Financial Corporation is seeking to keep its records from California Attorney General Jerry Brown, who is investigating whether the bank and credit card company violated state consumer protection laws.
read more
LAWMAKERS TARGET MORTGAGE LENDERS
NEW YORK (CNNMoney.com) -- Lawmakers considered allegations Tuesday that mortgage lenders and companies that service loans are misusing the bankruptcy system to impose questionable fees and improperly pressure homeowners facing foreclosure.
read more
THE NATIONAL ARBITRATION FORUM ANNOUNCES PARTNERSHIP WITH FORTHRIGHT
The National Arbitration Forum (FORUM) is pleased to announce its partnership with Forthright, a global provider of transaction processing and resolution systems. Forthright serves as the exclusive provider of all necessary services to optimize the process and the administration of National Arbitration Forum arbitration and mediation claims.
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EQUIFAX LAUNCHES MORTGAGE RISK EVALUATION TOOL FOR SECONDARY & CAPITAL MARKETS ANALYSIS
BOSTON, May 5, 2008 - Equifax Inc. (NYSE: EFX) today announced at the MBA Secondary Market Conference & Expo the launch of an analytical tool that gives mortgage investors deeper insights into mortgage borrower credit behavior - with a new level of detail previously unavailable in the market. Equifax Mortgage Market Risk InsightTM (MRI) is the industry’s first source of mortgage market risk information that enables forward-looking valuations for mortgage-related securities. Investors can use this tool to analyze mortgage loan performance and more accurately assess delinquency and default.
read more
SCORPIO TELEMARKETERS STUNG WITH COURT ORDER FOR DO NOT CALL VIOLATIONS
Under the terms of a court order announced by the Federal Trade Commission today, two individuals and one corporate defendant have been barred from violating the agency’s Telemarketing Sales Rule (TSR) and its Do Not Call (DNC) provisions arising from a telemarketing scheme designed to sell mortgage loans, refinancing services, and other products to U.S. consumers. They were also found liable for $530,000 in damages.
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FANNIE LOSS WIDER THAN FORECAST
NEW YORK (CNNMoney.com) -- In a sign of the problems that slashed home values and possibly led to a recession, mortgage financer Fannie Mae posted a far worse-than-expected first-quarter loss Tuesday, and said it will slash its dividend and raise additional capital.
read more
BERNANKE: FORECLOSURE WOES REQUIRE ACTION
NEW YORK (CNNMoney.com) -- The wave of foreclosures sweeping the nation are driven in part by a nearly unprecedented decline in home prices and require a concerted government and private-sector response, Ben Bernanke, chairman of the Federal Reserve, said Monday.
read more
TARGET CORPORATION ANNOUNCES AGREEMENT TO SELL INTEREST IN CREDIT CARD RECEIVABLES TO JPMORGAN CHASE FOR INITIAL INVESTMENT OF $3.6 BILLION
MINNEAPOLIS - Target Corporation (NYSE:TGT) today announced an agreement under which JPMorgan Chase would invest in Target's credit card receivables. At closing Target would sell an undivided interest in its credit card receivables to JPMorgan Chase (NYSE: JPM) for cash proceeds of approximately $3.6 billion. This interest would represent approximately 47 percent of the principal amount of Target's outstanding receivables at that time. This transaction is expected to close before the end of May.
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FEDERAL AGENCIES RELEASE ANNUAL REPORT TO CONGRESS ON SCHOLARSHIP FRAUD
Each year, millions of students seek help in financing their college education, and some fall prey to scholarship and financial aid scams that "guarantee" money for college in exchange for a fee. In 2000, Congress passed the College Scholarship Fraud Prevention Act to help federal agencies crack down on those scams. The Federal Trade Commission, the Department of Justice (DOJ), and the Department of Education (ED) have issued their annual report to Congress describing their continued efforts to combat scholarship and financial aid fraud.
read more
THE APRIL 2008 SENIOR LOAN OFFICER OPINION SURVEY
The April 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months.1 Special questions in the survey queried banks about changes in terms on home equity lines of credit and about their student loan programs. This article is based on responses from 56 domestic banks and 21 U.S. branches and agencies of foreign banks.
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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 | $8,487,967.00 Retail
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?538
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$3,433,394.00 Auto Deficiencies
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?536
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$1,002,755.00 Checks
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?535
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$112,346,419.00 Auto Deficiencies
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?534
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$3,300,140.00 Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?533
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$2,122,733.00 Retail
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?537
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$681,906.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?532
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$5,082,711.00 Credit Cards
Pacific Healthcare Services, Inc.
http://www.debtconnection.com/portfolio.asp?531
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3122
$12,249,416.00 Credit Cards
L & L FINANCIAL SERVICES
http://www.debtconnection.com/portfolio.asp?530
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2728
$19,744,659.00 Auto Deficiencies
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?529
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$79,000,000.00 Medical
Oxford Management Services
http://www.debtconnection.com/portfolio.asp?527
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3241
$2,608,684.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?525
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$13,445,668.00 Credit Cards
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?524
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999
$2,119,554.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?523
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$1,583,940.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?519
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$1,600,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?518
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$2,026,471.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?517
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$6,193,475.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?516
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$8,100,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?515
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$12,147,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?514
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$14,340,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?513
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$25,000,000.00 Credit Cards
Charge-Off Clearinghouse
http://www.debtconnection.com/portfolio.asp?512
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?247
$6,100,000.00 Credit Cards
Oliphant Financial Corporation
http://www.debtconnection.com/portfolio.asp?510
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 | NETQUEST RECOVERY SERVICES, INC.
Randy Wade
877-300-9297
More Information
RECOVERIES MANAGEMENT PTE. LTD.
Paulson Lum
+65 96188383
More Information
EQUINOX FINANCIAL MANAGEMENT SOLUTIONS, INC
847-795-9960
| | Consultants | WULFGAR FINANCIAL GROUP LLC
203-417-2056
| | Debt Buyers | CREDITMAX LLC
561-352-2220
| | Debt Sellers | ARGONAUT FINANCIAL, LLC
Lee Dalby
760-746-6186
More Information
| | Legal Networks/Services | WNY JUDGMENT RECOVERY, INC
716-478-7971
|
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Industry Events
|
Auto Finance Risk Summit 2008
Royal Media Group
Loews Coronado Bay Resort
San Diego, CA
May 14 - 16, 2008
(212) 564-8972
More Information
NARCA 2008 Spring Collection Conference
NARCA
Sheraton Seattle Hotel
Seattle, Washington
May 15 - 17, 2008
(800) 633-6069
More Information
|
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| At A Glance - Wednesday, April 02, 2008 |
| At A Glance - Friday, March 28, 2008 |
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| At A Glance - Friday, March 07, 2008 |
| At A Glance - Wednesday, March 05, 2008 |
| At A Glance - Friday, February 29, 2008 |
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| At A Glance - Friday, February 22, 2008 |
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| At A Glance - Wednesday, February 13, 2008 |
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| 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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