HACKER PLEADS GUILTY
BOSTON - One of 11 men charged with stealing more than 40 million credit-card numbers from U.S. retailers such as TJX Cos., Barnes & Noble Inc., and other companies pleaded guilty to multiple charges Thursday during a hearing in federal court here.
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FTC TESTIFIES ON THE "CALL CENTER CONSUMER'S RIGHT TO KNOW ACT"
The Federal Trade Commission provided testimony today before the U.S. House of Representatives' Committee on Energy and Commerce, Subcommittee on Commerce, Trade, and Consumer Protection regarding H.R. 1776, legislation entitled the "Call Center Consumer's Right to Know Act." Lois Greisman, Associate Director of the Division of Marketing Practices, Bureau of Consumer Protection, testified on behalf of the FTC.
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JPMORGAN CHASE & CO. IS FALLING AFTER THE CLOSE
JPMorgan Chase & Co. posted gains late Thursday morning and rose further in the final 2 hours of trade. The stock finished higher by 2.25 at $41.65.
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BUYER / SELLER 101 SEPTEMBER AND NOVEMBER 2008 CLASSES ARE AVAILABLE
Classes are available now for September 25 - 26, 2008 and November 13 - 14, 2008. Register today for your seat!
The Debt Marketplace, Inc. is committed to providing comprehensive industry resources for maximizing returns and controlling risk, announces that seats are open for its Buyer / Seller 101 course. This two-day class, targeting new market participants and those who are considering it for improving their overall results with debt buying and selling, reviews:
- Overview of the Industry
- Compliance
- Due Diligence
- Pricing
- Negotiations
- Collection Strategies
- Measuring Success
- Marketing Strategies
If you are a first time buyer or veteran, this class can benefit you! Starting with the basics, you develop skills under the insightful instruction of Dennis Hammond, a leader in the Debt Buying / Debt Selling industry.
About Us
Formed in 1994, The Debt Marketplace educates buyers and sellers on all aspects of marketing delinquent receivable portfolios. To help participants succeed in this evolving market, we provide buyers and sellers with expert resources for:
- Maximizing profit potential for all parties.
- Reducing business risk.
- Increasing understanding of market factors.
- Managing post sale issues.
The Debt Marketplace answers the industry's demand for an efficient, reliable and equitable method for portfolio marketing. Our firm focuses on thorough due diligence for all parties to achieve positive result prior to, and following, the transaction.
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LET LEHMAN FAIL
Many people are convinced that it is OK for the government to bail out failing private companies like Bear Stearns, Fannie Mae (FNM), Freddie Mac (FRE), and, now, Lehman Brothers (LEH). Hank Paulson, our Treasury Secretary, argues that we should put these debts onto the backs of innocent taxpayers because if we don't do it, we will have "systemic risk."
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BANKS, COMPANIES PUSHING TO COLLECT CREDIT CARD DEBT
As more people struggle under credit card debt, banks are stepping in to intensify their collection efforts. Citigroup Inc. has hired more collectors, increased the frequency of calls to delinquent customers and expanded programs that let borrowers temporarily postpone payments or settle debt for less than the borrowers owe.
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BANK OF AMERICA LIKELY TO WIN LEHMAN: ANALYST BOVE
Bank of America Corp, the largest U.S. bank by market value, will likely win the auction for Lehman Brothers Holdings Inc, said Ladenburg Thalmann & Co analyst Richard Bove on Friday, a day after Lehman was forced into talks to sell the whole company.
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WAMU MAY BE FORCED TO SELL DEPOSITS TO STAY AFLOAT
Washington Mutual Inc., facing up to $19 billion in bad home loans and slammed by a 34 percent drop in its stock this week, may sell parts of a nationwide 2,300- branch network to raise capital.
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BERNANKE MAY BE WRONG: NEXT RATE MOVE MIGHT BE DOWN (UPDATE1)
Federal Reserve Chairman Ben S. Bernanke and his fellow policy makers agreed at their August meeting that their next move on interest rates would probably be up. They may turn out to be wrong.
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TOUGHER BANKRUPTCY LAWS BITE THE LENDERS
The latest lesson for lenders from the housing crisis: Be careful what you wish for. Banks and other financial outfits spent eight years and $40 million lobbying for sweeping new bankruptcy rules that would limit their losses from deadbeat debtors.
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UTAH AG ANNOUNCES CREDIT FREEZE LAW
A new state law has taken effect that allows identity theft victims to immediately freeze their credit in an attempt to prevent further damage. Sen. Carlene Walker, R-Cottonwood Heights, and Utah Attorney General Mark Shurtleff touted the new law at a news conference Wednesday at the Salt Lake County Ice Center.
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KAULKIN GINSBERG REPORT SAYS INCREASED COLLEGE STUDENT CREDIT CARD DEBT CAUSING FINANCIAL STRAITS FOR GRADUATING STUDENTS
ROCKVILLE, Md., Sep 10, 2008 (BUSINESS WIRE) -- College students are known for carrying student loan debt; however a new report, The Student Market for Credit Cards: Issues and Trends, finds that more of this year's seniors will be facing a "perfect storm" of financial struggle after graduation, especially due to increased college student credit card debt.
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UNITED COLLECTION BUREAU, INC. (UCB) ANNOUNCES APPOINTMENT OF V.P. OF COMPLIANCE
Toledo, Ohio - United Collection Bureau, Inc. (UCB, Inc.) has appointed Jack Klein as Vice-President of Compliance for the organization. Jack has 11 years of experience in corporate and debt collection service compliance.
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COMTECH SYSTEMS INC. ACQUIRES EZSERVER.BIZ
Comtech Systems Inc. announces the acquisition of EZServer.biz website hosting. This exciting move places Comtech strategically in the website hosting marketplace.
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MOUNTAIN PARTNERS, LLC ADDS BROADCAST MESSAGING TO ARSENAL
Salt Lake City, UT, September 10, 2008-Mountain Partners, LLC, an Illinois-based company experienced in short-term loan collections, is now becoming expert in IAT's CT Center Broadcast Messaging (IC).
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CALL CENTRE PACKS UP TO LEAVE TOWN
A long-time call centre in Sault Ste. Marie will close Nov. 27. NCO, formerly RMH, late last week informed its 300 employees of the closure.
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FTC OBTAINS COURT ORDER AGAINST HUSBAND-WIFE CREDIT REPAIR TEAM
The Federal Trade Commission charged two credit repair marketers with violating federal law by collecting advance payment for credit repair services and falsely promising to remove derogatory information from consumers' credit reports - even if the information is accurate and not obsolete.
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THERE IS STILL SPACE AVAILABLE FOR THE RECOVERY MANAGEMENT STRATEGIES AND TECHNIQUES COURSE
The leader in Agency Management auditing and consulting is now taking registrations for the October session of Recovery Management Strategies and Techniques, a two-day classroom course designed to assist Creditor and Debt Buyer Recovery Managers with fundamental and advanced strategies, plans, and tools for managing an outside vendor recovery operation.
This course will bring real-world experience and answers to the challenges that Recovery Managers face in structuring and managing the external recovery operation. Topics covered will include Agency Selection, Placement Strategies, Performance Measurements, Contracts, Work Standards, Settlements, Auditing, Compliance, and Financial Issues.
This session is scheduled for October 7 - 8, 2008 in Chicago, IL at the Hyatt Rosemont (O'Hare Airport).
For more information and registration information contact: infoRMST@resourcemanagement.com or call Resource Management Services, Inc. at (562)906-1101
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FANNIE, FREDDIE BAILOUT DOESN'T CURB ALL CREDIT WOES
NEW YORK -- The government doesn't want Fannie Mae or Freddie Mac to go broke, but it better start thinking about what happens if the rest of us do.
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12 BEST AND 3 OF THE WORST CREDIT CARDS
Consumer Reports analyzed hundreds of credit cards and named a dozen that are worthy of consumers' consideration-and three to stay away from.
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OUSTED STATE STUDENT AID BOARD REINSTATED
California's director of finance has reinstated the EdFund board of directors, reversing a California Student Aid Commission decision to oust the board of the nonprofit agency that guarantees student loans.
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BANK OF AMERICA MIGRATES CLIENTS TO WORKS CORPORATE CARD PLATFORM
Bank of America today announced that it has completed its migration of clients to its Works platform, a Web-based solution that automates, streamlines and integrates corporate credit card payment authorization and reconciliation.
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FTC'S AMERIDEBT LAWSUIT RESOLVED: ALMOST $13 MILLION RETURNED TO 287,000 CONSUMERS HARMED BY DEBT MANAGEMENT SCAM
The Federal Trade Commission announced today that the agency returned approximately $12.7 million to consumers this week from a settlement with Andris Pukke and his companies, AmeriDebt, Inc. and DebtWorks, Inc.
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JUDGE SAYS PART OF BANKRUPTCY LAW UNCONSTITUTIONAL
NEW HAVEN, Conn. (AP) - A federal judge on Tuesday partially blocked one element of the nation's recently overhauled bankruptcy law, saying that a provision restricting the advice lawyers can give is unconstitutional.
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LIVEVOX ENHANCES VOIP DIALER TO ADDRESS COLLECTION COMPLIANCE NEEDS
Agent Desktop 2.0 and Campaign Manager 3.1 feature set fully integrated into hosted dialing solution to navigate a heightened regulatory environment.
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BEAR STEARNS AND EMC MORTGAGE TO PAY $28 MILLION TO SETTLE FTC CHARGES OF UNLAWFUL MORTGAGE SERVICING AND DEBT COLLECTION PRACTICES
The Bear Stearns Companies, LLC and its subsidiary, EMC Mortgage Corporation, have agreed to pay $28 million to settle Federal Trade Commission charges that they engaged in unlawful practices in servicing consumers' home mortgage loans.
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PENSION BENEFIT GUARANTY CORPORATION AWARDS CONVERGYS CONTRACT FOR RELATIONSHIP MANAGEMENT SOLUTIONS
(Cincinnati; September 10, 2008) - - Convergys Corporation (NYSE: CVG), a global leader in relationship management and a preferred solutions provider to the Federal Government, announced that the Pension Benefit Guaranty Corporation (PBGC), a federal corporation created by the Employee Retirement Income Security Act, has awarded Convergys a contract for its customer management solutions.
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BBB OFFERS DOCUMENT SHREDDING
The Better Business Bureau will sponsor what it has termed "Secure your ID Day" on September 20th. People can bring their old documents, to various locations, for shredding.
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ATTORNEY GENERAL MCCOLLUM URGES CONSUMERS TO MONITOR CREDIT AND DEBIT ACTIVITY
TALLAHASSEE - Attorney General Bill McCollum today issued a consumer alert following a significant loss of data from The Bank of New York Mellon Shareholder Services (BNY Mellon SS).
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SMALL BUSINESS OWNER OPTIMISM CONTINUES TO DROP
Reflecting signs of a weaker economy and rising costs, small business owners' optimism continues to decline. According to the recent Wells Fargo/Gallup Small Business Index, surveyed in July, small business owner optimism has fallen to 45, the lowest score reported since the survey began five years ago. The Index has been declining since mid-2007.
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ARGUS AND TRANSUNION LAUNCH CREDIT DYNAMICS 360(SM) SOLUTION
WHITE PLAINS, N.Y., and CHICAGO - Argus Information and Advisory Services and TransUnion today jointly launched Credit Dynamics 360(SM), the first solution that provides senior financial services executives with a comprehensive and customized view of the U.S. consumer credit landscape.
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WELLS FARGO ANNOUNCES 3RD QUARTER NON-CASH CHARGE FOR FANNIE MAE, FREDDIE MAC PREFERRED SECURITIES
Wells Fargo & Company (NYSE: WFC) said today that in third quarter 2008 it will record other-than-temporary impairment and take a non-cash charge to earnings for its investments in perpetual preferred securities issued by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
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BEAR STEARNS AND EMC MORTGAGE TO PAY $28 MILLION TO SETTLE FTC CHARGES OF UNLAWFUL MORTGAGE SERVICING AND DEBT COLLECTION PRACTICES
The Bear Stearns Companies, LLC and its subsidiary, EMC Mortgage Corporation, have agreed to pay $28 million to settle Federal Trade Commission charges that they engaged in unlawful practices in servicing consumers' home mortgage loans.
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JULY PENDING HOME SALES DOWN 3.2%
The number of pending home sales fell 3.2% in July after gaining in June, according to a report released Tuesday, the latest in a series of gloomy housing reports.
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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 | $464,882.00 Credit Cards
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?593
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774
$1,200,000.00 Credit Cards
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?592
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774
$420,000.00 Credit Cards
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?591
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774
$234,000.00 Credit Cards
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?590
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774
$850,000.00 Credit Cards
BAL Financial LLC
http://www.debtconnection.com/portfolio.asp?589
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1774
$4,169,435.00 Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?588
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826
$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
| | Agency | INITED.CH
011 41 79 247 14 84
ACCELRATED RECOVERIES
631-754-9775
| | Debt Sellers | AMERICREDIT FINANCIAL SERVICES
Craig Paterson
817-524-3802
More Information
| | Mail Services | PCI GROUP INC
Anthony Faldetta
800-394-0328
More Information
| | Software | WALZ CERTIFIED MAIL SOLUTIONS
951-491-6800
|
|
Industry Events
|
Bankruptcy 2008: Views from the Bench
American Bankruptcy Institute
Georgetown University Law Center
Washington, D.C.
September 12, 2008
More Information
Buyer / Seller 101
The Debt Marketplace, Inc.
Embassy Suites
Downey, California
September 25 - 26, 2008
More Information
28th Annual Midwestern Bankruptcy Institute
American Bankruptcy Institute
H. Roe Bartle Hall Convention Center
Kansas City, Missouri
October 3, 2008
More Information
Recovery Management Strategies and Techniques
Resource Management Services, Inc.
Hyatt Rosemont Chicago O'Hare Airport
Chicago, IL
October 7 - 9, 2008
More Information
Chicago Consumer Bankruptcy Conference
American Bankruptcy Institute
The Standard Club
Chicago, Illinois
October 13, 2008
More Information
Distressed Retailed Summit
Infocast
Digital Sandbox
New York, NY
October 16 - 17, 2008
More Information
|
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This report is sponsored by The Debt Marketplace. Our firm specializes in assisting buyers and sellers in all aspects of the transaction process, including...
- Marketing your portfolio.
- Due Diligence for Buyers and Sellers.
- Evaluating the viability of a sale.
- Addressing pricing, contract and negotiation considerations.
- Attaining the most efficient transition possible, while minimizing post-sale issues.
Our consulting projects are customized to provide the level of involvement and information that best meets our clients' needs.
Check us out at: http://www.debtmarketplace.com/
Copyright 2001 - 2008 THE DEBT MARKETPLACE, INC. 562-903-7220
THE DEBT MARKETPLACE, INC., 10440 Pioneer Blvd., Suite 2, Santa Fe Springs, CA 90670-8235
At A Glance reports can be expected weekly or biweekly, depending on quantity of news and information to report. You may send this report, in its entirety, to others who may have interest.
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| At A Glance - Wednesday, November 19, 2008 |
| At A Glance - Friday, November 14, 2008 |
| At A Glance - Wednesday, November 12, 2008 |
| At A Glance - Friday, November 07, 2008 |
| At A Glance - Wednesday, November 05, 2008 |
| At A Glance - Wednesday, October 29, 2008 |
| At A Glance - Friday, October 24, 2008 |
| At A Glance - Wednesday, October 22, 2008 |
| At A Glance - Friday, October 17, 2008 |
| At A Glance - Wednesday, October 15, 2008 |
| At A Glance - Friday, October 10, 2008 |
| At A Glance - Wednesday, October 08, 2008 |
| At A Glance - Friday, October 03, 2008 |
| At A Glance - Wednesday, October 01, 2008 |
| At A Glance - Wednesday, September 24, 2008 |
| At A Glance - Friday, September 12, 2008 |
| At A Glance - Wednesday, September 10, 2008 |
| At A Glance - Friday, September 05, 2008 |
| At A Glance - Wednesday, September 03, 2008 |
| At A Glance - Friday, August 29, 2008 |
| At A Glance - Wednesday, August 27, 2008 |
| At A Glance - Friday, August 22, 2008 |
| At A Glance - Wednesday, August 20, 2008 |
| At A Glance - Friday, August 15, 2008 |
| At A Glance - Wednesday, August 13, 2008 |
| At A Glance - Friday, August 08, 2008 |
| At A Glance - Wednesday, August 06, 2008 |
| At A Glance - Friday, August 01, 2008 |
| At A Glance - Wednesday, July 30, 2008 |
| At A Glance - Friday, July 25, 2008 |
| At A Glance - Wednesday, July 23, 2008 |
| At A Glance - Friday, July 18, 2008 |
| At A Glance - Wednesday, July 16, 2008 |
| At A Glance - Friday, July 11, 2008 |
| At A Glance - Wednesday, July 09, 2008 |
| At A Glance - Wednesday, July 02, 2008 |
| At A Glance - Friday, June 27, 2008 |
| At A Glance - Wednesday, June 25, 2008 |
| At A Glance - Friday, June 20, 2008 |
| At A Glance - Wednesday, June 18, 2008 |
| At A Glance - Friday, June 13, 2008 |
| At A Glance - Wednesday, June 11, 2008 |
| At A Glance - Friday, June 06, 2008 |
| At A Glance - Wednesday, June 04, 2008 |
| At A Glance - Friday, May 30, 2008 |
| At A Glance - Wednesday, May 28, 2008 |
| At A Glance - Friday, May 23, 2008 |
| At A Glance - Wednesday, May 21, 2008 |
| At A Glance - Friday, May 16, 2008 |
| 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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