INDUSTRY CHOICE TRIBUTE AWARDS ANNOUNCED!
September 5, 2008, San Diego CA - Industry choice tribute awards were presented during the DCS2008 conference. The following people and or companies were given awards:
- For Agency, Diversified Consultants, Inc (DCI).
- For Attorney Firm, Frederic J. Hanna & Associates
- For Debt Buyer, Al Brothers, Cavalry Portfolio Services, LLC
- For Debt Seller, Mike Bendickson, Absolute Resolutions Corp.
- For Industry Vendor, Latitude Software
- For Recovery Manager, Kimberly Kleven, T-Mobile USA Inc.
The Industry Choice Awards is to recognize excellence within the collections and recovery industry. The categories include company awards for Agency, Attorney Firm, and Industry Vendor and individual awards for Debt Buyer, Debt Seller, and Recovery Manager of the Year.
The selection criteria included: progressive attitude, new strategies & programs introduced to the industry, results/success, innovative ideas, fairness, integrity and of course, number of nominations and votes.
Congratulations to all nominees and winners!
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PART OF STATE'S FINANCIAL PRIVACY LAW UPHELD
San Francisco -- A federal appeals court reinstated part of California's financial privacy law Thursday, allowing consumers to prevent banks from sharing information with affiliated companies about a customer's savings account or buying habits.
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IDT CARMEL HOLDINGS APPOINTS COLLECTIONS INDUSTRY VETERANS
IDT Carmel Holdings, Inc., a subsidiary of IDT Corporation (NYSE: IDT; IDT.C) today announced its new management team including leading debt collection and portfolio executives.
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JOBLESS RATE SOARS TO 6.1%
NEW YORK (CNNMoney.com) -- The unemployment rate soared to a nearly five-year high in August as employers trimmed jobs for the eighth straight month, the government reported Friday.
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RECORD 1.2 MILLION HOMES HIT BY FORECLOSURE
NEW YORK (CNNMoney.com) -- A record 1.249 million homes were in foreclosure during the second quarter of 2008, according to a report released Friday by the Mortgage Bankers Association.
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UTAH IS FARING WELL, FED OFFICIAL SAYS
Economic times are tough, but Utah's doing relatively well, and 2009 is likely to be better, according to Janet L. Yellen, president and chief executive officer of the Federal Reserve Bank of San Francisco.
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STATE STUDENT AID BOARD DISBANDS LOAN AGENCY
The California Student Aid Commission voted Thursday to oust the board of directors of EdFund, a troubled state agency that guarantees student loans.
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AMERICAN EXPRESS RANKS HIGHEST IN CUSTOMER SATISFACTION AMONG CREDIT CARD COMPANIES FOR THE SECOND CONSECUTIVE YEAR
NEW YORK, September 03, 2008 -- American Express ranks highest in customer satisfaction among credit card issuers, according to the second annual nationwide study by J.D. Power and Associates. The study, which was released earlier today, ranks American Express highest in overall satisfaction among 18 of the largest card issuers in the U.S.
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COLUMBIA BANCORP ANNOUNCES A STRATEGIC INITIATIVE IN RESPONSE TO CURRENT MARKET CONDITIONS
The Dalles, Oregon - September 5, 2008 - Columbia Bancorp (Nasdaq: CBBO), the financial holding company for Columbia River Bank, announced a strategic initiative intended to streamline its overall business operations in response to the current banking environment. The focus of the initiative is the closure of Columbia River Bank's Mortgage Banking Team. This closure will affect approximately 39 mortgage banking employees over the next 60 days as the mortgage division winds down. "Columbia's decision to no longer operate an in-house mortgage lending service was necessary because of the uncertainty in the mortgage markets and the risk associated with the industry. This will allow us to focus on our core business services, a central point of our management team's vision for the future," explained Roger Christensen, President and CEO of Columbia.
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PRIVATE SECTOR CUTS 33,000 JOBS
NEW YORK (CNNMoney.com) -- The private sector shed jobs in August, dragged down by heavy losses in the manufacturing sector, according to a report released Thursday.
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AUTO LENDERS FEEL SQUEEZED
NEW YORK (CNNMoney.com) -- The nation's automakers aren't the only companies suffering from higher gas prices and weak vehicle sales. Auto lenders are feeling the squeeze as well.
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DISCOVER(R) U.S. SPENDING MONITORSM UP 2.6 POINTS IN AUGUST
RIVERWOODS, Ill., Sep 04, 2008 (BUSINESS WIRE) -- The Discover U.S. Spending Monitor rose 2.6 points in August to 87.8, the largest ever month-over-month increase in the Monitor's index history, and its highest reading of 2008. It is the second month in a row that the monthly index has moved upward, largely as a result of easing pessimism about the economy and a hold-the-line approach to spending. While optimism about the economy is starting to trend upward, the Monitor's Index still lies seven points below the August 2007 reading of 94.8.
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WELLS FARGO CEO MOBILE SERVICE ADDS NEW FEATURES FOR CORPORATE CUSTOMERS
Wells Fargo & Company (NYSE:WFC) - the only major U.S. financial services company offering browser-based mobile banking for corporate banking customers - has again expanded wires and self administration features of its CEO MobileSM service. Authorized CEO Mobile users can now initiate and approve federal tax wires and see which self administration dual control items they can act on using their mobile device. CEO Mobile service is a streamlined, mobile version of the company's award-winning Commercial Electronic Office(r) (CEO(r)) portal.
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CUP DATA SIGNS PROCESSING AGREEMENT WITH CITIBANK
Columbus, Ga., Sept. 3, 2008 - TSYS today announced that China UnionPay Data Services Co., Ltd. ("CUP Data"), TSYS' joint venture with China UnionPay ("CUP"), has signed a debit card processing agreement with Citibank (China) Co., Ltd. ("Citi China").
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FAIR ISAAC ANNOUNCES PARTNERSHIP WITH FRENCH CONSULTANCY EURODECISION, EXTENDS DECISION MANAGEMENT ECOSYSTEM INTO FRANCE
September 3, 2008 - (Minneapolis, Minnesota, USA) - Fair Isaac Corporation (NYSE: FIC), the leading provider of analytics and decision management technology, today announced an agreement with Versailles-based EURODECISION, the premier French optimization consultancy, to provide decision management solutions in France.
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BEST PRACTICES FROM THE FDIC'S FORUM ON MORTGAGE
The FDIC is issuing the attached document to highlight best practices that were discussed at the FDIC's July 8, 2008, Forum on Mortgage Lending for Low- and Moderate-Income (LMI) Households. The purpose of the forum was to explore a framework for LMI mortgage lending in the future, in light of current problems in the mortgage market. The forum examined ways to encourage profitable, responsible and sustainable mortgage lending to lower-income households and strategies to rejuvenate the secondary market for these loans.
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SOUNDBITE COMMUNICATIONS TO TRANSFORM THE CONTACT CENTER WITH AGENT PORTAL
Bedford, Mass. - September 3, 2008 - SoundBite Communications, Inc. (NASDAQ: SDBT) today introduced Agent Portal, a contact center productivity tool that will be initially available in October 2008 on the SoundBite Intelligent Communications platform. Agent Portal is the agent interface to the SoundBite platform. It reduces hold time and increases agent productivity by delivering a screen pop on the agent desk top with the contact's account information.
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ATTORNEY GENERAL MCGRAW REACHES AGREEMENT WITH THREE MORE "DEBT SETTLEMENT" COMPANIES; REFUNDS OF $375K TO 141 WV CONSUMERS
Melissa Mahaney of Nitro, along with the 25 other Charleston area consumers who called a company listed in their local phone book as "Consumer Credit Counseling, Charleston, 347-8828", believed they were calling Consumer Credit Counseling Services of the Kanawha Valley ("CCCS"), a long-standing locally based non-profit credit counseling agency. CCCS has five branch offices in Southern West Virginia and has been located in the Kanawha Valley since 1964. Unfortunately the number listed in the Charleston phone book rang into a call center of Consumer Credit Counseling of America, Inc. ("CCCA") of North Andover, Massachusetts.
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SOUNDBITE COMMUNICATIONS NOW OFFERS 100 PERCENT VOIP PLATFORM
Bedford, Mass. - September 3, 2008 - SoundBite Communications, Inc. (NASDAQ: SDBT) today announced a technology milestone-its multi-channel Intelligent Communications Platform is now 100 percent Voice over Internet Protocol (VoIP). As of August 2008, all of SoundBite's outbound and inbound client traffic is carried over a VoIP backbone.
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IMPLICATIONS OF A CREDIT CRUNCH ERIC S. ROSENGREN, PRESIDENT & CHIEF EXECUTIVE OFFICER
I am pleased to be with you today in New Hampshire, and would like to share some perspectives on the implications of a credit crunch.[Footnote 1] Unfortunately, a credit crunch is not an entirely new topic for those of you who have been doing business in New Hampshire for some time, since you experienced the early 1990s - when many of the larger banks in the state failed, and credit availability was an acute problem.
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GMAC FINANCIAL SERVICES AND RESCAP ANNOUNCE FURTHER STREAMLINING OF MORTGAGE OPERATION
FORT WASHINGTON, Pa. (Sept. 3, 2008) -- GMAC Financial Services and its subsidiary Residential Capital, LLC (ResCap) today announced additional initiatives to further optimize the mortgage business as the downturn in the credit and mortgage markets persists. In response to these conditions, ResCap has enacted a plan to significantly streamline its operation, reduce cost, adjust its lending footprint and refocus its resources on strategic lending and servicing.
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BARCLAYCARD US APPOINTS BARNEY C. BRIGGS AS CHIEF FINANCIAL OFFICER
WILMINGTON, Del., Sept. 3 /PRNewswire/ -- Barney C. Briggs has been appointed Chief Financial Officer of Barclaycard US, the credit card business of Barclays Bank PLC in the United States.
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FIRST HORIZON COMPLETES SALE OF MORTGAGE BUSINESS OUTSIDE TENNESSEE AND REVISES CREDIT EXPECTATIONS FOR 2008
MEMPHIS, Tenn., Sep 2, 2008 (GlobeNewswire via COMTEX News Network) -- First Horizon National Corp. (NYSE:FHN) has completed the sale of its mortgage origination and servicing platform outside Tennessee and has revised credit expectations for 2008.
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TSYS EXPANDS EUROPEAN PRESENCE WITH NEW OFFICE IN POLAND
Columbus, Ga. and London, 2 September 2008 - TSYS, a global leader in payment solutions, has further expanded its European presence with the opening of a new sales office in Warsaw, Poland. This newest addition, which will provide outsourcing solutions to Poland and surrounding countries Czech Republic, Slovakia and Hungary, increases TSYS' presence to 17 offices globally.
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PICK-A-PAYMENT LOANS TURN POISONOUS
NEW YORK (CNNMoney.com) -- They're known as "pick-a-payment" mortgages or option ARMs, but their detractors call them pure poison. Now their default rates, which are already high, are about to explode, according to a Fitch Ratings report issued Tuesday.
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CONVERGYS ANNOUNCES SUCCESSFUL COMPLETION OF TENDER OFFER FOR INTERVOICE
(Cincinnati; September 3 2008) - - - Convergys Corporation (NYSE:CVG), a global leader in relationship management, announced today that it has accepted all shares that were tendered into its offer to purchase all outstanding common stock of Intervoice, Inc.
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REGULATORY RELIEF
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Alabama, Mississippi, Louisiana and Texas affected by Hurricane Gustav.
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IOWA'S BANKRUPTCY FILINGS RISE 12%
Mortgage payment troubles have led to a double-digit percent increase in bankruptcy filings in Iowa, even though the state has escaped the magnitude of foreclosure problems across the country.
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A PUSH TO REFORM DEBT-COLLECTION LAWS
Few things are as unpleasant and disruptive as a call from a collection agency. To avoid this, the obvious strategy is to pay your bills. Or, set up a payment plan so that the account isn't turned over to a collection agency.
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BANK OF NEW YORK MELLON BREACH GETS BIGGER
Over 12 million customers - three times the number originally reported - have been hit by the security breach at Bank of New York Mellon earlier this year, when a box containing unencrypted customer data tapes went missing in transit.
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FDIC ANNOUNCES 10TH BANK FAILURE OF THE YEAR
NEW YORK (CNNMoney.com) -- State regulators shuttered a Georgia bank late Friday, marking the tenth bank failure this year.
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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 | $2,400,000.00 Telecommunications
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?587
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$5,500,000.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?586
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$1,000,000.00 Consumer Loans
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?585
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$3,800,000.00 Credit Cards
International Credit Services, LLC
http://www.debtconnection.com/portfolio.asp?584
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2773
$42,017,443.00 Telecommunications
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?583
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
| | Agency | ARMOR SYSTEMS CORPORATION
Sharon Amann
800-785-8551
More Information
PRINCIPAL RECOVERY GROUP
866-383-3024
ASA FINANCIAL LLC
609-858-2826
MARSHALL, GREENE & ASSOCIATES INC.
866-702-7807
EULER HERMES UMA
502-583-3600
BERNSTEIN,KLEIN & ASSOCIATES INC
877-434-6407
| | Attorney | ROBERT PERREAULT
781-641-4151
| | Debt Buyers | ASA FINANCIAL LLC
609-858-2826
MARSHALL, GREENE & ASSOCIATES INC.
866-702-7807
| | Debt Sellers | ASA FINANCIAL LLC
609-858-2826
MARSHALL, GREENE & ASSOCIATES INC.
866-702-7807
| | Software | BFRAME DATA SYSTEMS INC.
678-387-0100
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Industry Events
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16th Annual Southwest Bankruptcy Conference
American Bankruptcy Institute
Four Seasons Las Vegas
Las Vegas, Nevada
September 4 - 6, 2008
More Information
2008 Home Equity Lending Conference
Consumer Bankers Association
Hilton Austin
Austin, TX
September 7 - 9, 2008
More Information
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| At A Glance - Wednesday, January 30, 2008 |
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| 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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