CAPITAL ONE FINANCIAL SWINGS TO 3Q NET PROFIT
Capital One Financial Corp.'s (COF) swung to a third-quarter profit as the bank and credit-card issuer saw increases in deposits and local banking segment profits.
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U.S. BANK PARTNERS WITH TOYOTA TO LAUNCH TOYOTA REWARDS VISA
U.S. Bank and Toyota have teamed up to offer the Toyota Rewards Visa, giving Toyota owners and aficionados a simple new way to earn points toward service, parts, accessories and vehicle purchases and leases at Toyota dealerships nationwide.
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FEDERAL PROSECUTOR EXPECTS CHARGES FROM MORTGAGE CRISIS
LOS ANGELES - The top federal prosecutor in Los Angeles indicated Thursday that charges will be filed in the coming months in a sweeping investigation of banks and subprime lenders for their role in the nation's mortgage crisis.
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GIANNOULIAS COMMITS $1 BILLION TO ILLINOIS FINANCIAL INSTITUTIONS
State Treasurer Alexi Giannoulias will make up to $1 billion in interest-earning deposits available to Illinois banks and credit unions in an effort to thaw the credit freeze and improve the performance of the state's investment portfolio.
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FIRST DATA & WAUSAU FINANCIAL SYSTEMS EXPAND RELATIONSHIP
DENVER/MOSINEE, WIS. - Remittance processing partners, WAUSAU Financial Systems (WFS) and REMITCO LLC, a wholly-owned subsidiary of First Data Corp., have entered into a new agreement that expands WFS' proprietary software solutions into a full service offering.
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TREASURY HIRES LEGAL ADVISER UNDER THE EMERGENCY ECONOMIC STABILIZATION ACT
Washington - The U.S. Treasury Department this week announced that Simpson, Thacher and Bartlett will serve as a legal adviser for the implementation of the Emergency Economic Stabilization Act. Treasury hired the New York City-based firm Sunday and work began immediately to help the Department with its equity program structuring.
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FDIC ANNOUNCES SERIES OF BANKER CALLS ON ITS TEMPORARY LIQUIDITY GUARANTEE PROGRAM
Beginning today, the Federal Deposit Insurance Corporation (FDIC) will hold the first in a series of conference calls with the banking industry to answer technical questions regarding the newly announced Temporary Liquidity Guarantee Program. Today's call will commence at 2 p.m. Eastern and will run for one hour.
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PROVIDENT ACQUIRES DEPOSITS FROM CHEVY CHASE BANK
Provident Bankshares Corp. is increasing its market share in Maryland by acquiring deposits worth $42 million from seven Chevy Chase Bank branches that are to close in January at Giant Food stores, the parent company of Provident Bank said yesterday.
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BANK-TO-BANK LENDING RATES KEEP ON FALLING; TREASURYS LOWER
The credit markets showed further signs of improvement Thursday, as bank-to-bank lending rates took another step down from recent highs.
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CITIGROUP LOSES $2.8 BILLION
NEW YORK (CNNMoney.com) -- Citigroup's losing streak continued after reporting a $2.8 billion loss Thursday, as the bank found itself stung yet again by credit and mortgage-related writedowns.
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DEBT BUYER SMALL BUSINESS CARD STUDY ANNOUNCED BY THE DEBT MARKETPLACE, INC.
The Debt Marketplace, Inc., in conjunction with its sister company, Resource Management Services, Inc. (RMS), is pleased to announce an innovative joint research project focused on Small Business credit card issues faced by debt buyers in today's financial environment.
The Debt Marketplace, Inc. was founded in 1994 to give buyers and sellers the resources they need to maximize results and minimize risk. TDM and RMS are conducting this Internet based survey to objectively gather information related to Small Business card programs with the goal of providing the industry with information for effectively managing these portfolios during this time of economic challenge.
Debt Buyers who wish to participate in this study can complete the survey online at https://www.resourcemanagement.com/survey/collrecsurvey/crc/SBCard.htm.
Participants will receive a copy of the compiled results.
For more information, please contact The Debt Marketplace, Inc., at (562) 903-7220 , or by email to Survey1008@ResourceManagement.com.
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USA FUNDS SUPPORTS $17.2 BILLION IN STUDENT LOANS
INDIANAPOLIS - USA Funds®, the nation's leading education loan guarantor, announces that it supported $17.2 billion in loans to help students and parents pay for college during the fiscal year that ended Sept. 30, 2008. The figure represents an increase of more than 10 percent in college financing supported by USA Funds compared with the previous fiscal year.
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FDIC ANNOUNCES PLAN TO FREE UP BANK LIQUIDITY
The Federal Deposit Insurance Corporation (FDIC) announces a new program-the Temporary Liquidity Guarantee Program-to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior unsecured debt of banks, thrifts, and certain holding companies, and by providing full coverage of non-interest bearing deposit transaction accounts, regardless of dollar amount.
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ATTORNEY GENERAL ANNOUNCES INITIATIVE TO CLEAN UP FLORIDA'S DEBT RELIEF INDUSTRY
TALLAHASSEE, FL – Attorney General Bill McCollum today unveiled his office's latest consumer protection initiative in the form of a coordinated enforcement effort targeting potentially improper tactics in Florida's debt relief industry. In a statewide initiative, the Attorney General's Economic Crimes Division has taken legal action against five companies and opened formal investigations into the practices of an additional five companies, all of which were purportedly offering debt relief services including credit counseling, credit repair, debt management, and credit card rate reduction services.
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JPMORGAN CHASE POSTS SURPRISE PROFIT
NEW YORK (CNNMoney.com) -- JPMorgan Chase reported a surprise quarterly profit Wednesday, even as the company suffered a hit related to its purchase of failed savings and loan giant Washington Mutual and took $3.6 billion in writedowns.
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WELLS FARGO PROFITS BETTER THAN EXPECTED
NEW YORK (CNNMoney.com) -- Wells Fargo & Co. said Wednesday its third-quarter net income declined due to investment write-downs and higher credit losses, but the results were much better than expected.
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FIRST DATA BECOMES FIRST PAYMENT PROCESSOR TO OFFER ALL MAJOR ALTERNATIVE PAYMENT BRANDS THROUGH AGREEMENT WITH CARDINALCOMMERCE
First Data, a global leader in electronic commerce and payment services, and CardinalCommerce Corporation, the worldwide leading provider of payment brands, have joined forces to bring First Data merchants a complete eCommerce solution for authentication programs and alternative payment brands.
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TREASURY ANNOUNCES EXECUTIVE COMPENSATION RULES
Washington- The U.S. Treasury Department today announced the development of three programs under the Emergency Economic Stabilization Act and corresponding executive compensation and corporate governance standards. These standards generally apply to the chief executive officer, chief financial officer, plus the next three most highly compensated executive officers. Any firm participating in the following three programs will be required to adopt these standards.
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RETAIL SALES IN BIGGEST DROP IN 3 YEARS
Retail sales suffered their biggest drop in three years last month, as American households reined in spending amid a tough job market, the financial crisis and falling home values.
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BERNANKE: NO QUICK RECOVERY
NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke warned in a speech Wednesday that the U.S. economy will take some time to recover even if the credit markets return to normal soon.
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U.S. TAKES PLUNGE INTO BANKING BUSINESS
WASHINGTON - Big banks started falling in line Tuesday behind a rejiggered bailout plan that will have the government forking over as much as $250 billion in exchange for partial ownership - putting the world's bastion of capitalism and free markets squarely in the banking business.
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PSC INFO GROUP ACHIEVES SAS 70 TYPE II CERTIFICATION
VALLEY FORGE, Pa. - PSC Info Group, a worldwide leader in data management, printing and mailing technology and online solutions, announced today that the company has successfully completed the rigorous SAS 70 Type II certification, an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). The SAS 70 process assures PSC Info Group clients that the company meets the highest standards for security and has the appropriate controls and safeguards in place to effectively manage and protect its clients' data.
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FDIC INCREASE HELPS SMALL BIZ, BUT LOAN HELP IS CRITICAL
President Bush's announcement Tuesday that the Federal Deposit Insurance Corp. will temporarily do away with its insurance caps and cover all deposits in non-interest bearing accounts was a measure aimed straight at Main Street. But critics say the step doesn't address the most critical problem threatening small businesses: slow sales and a sluggish credit market.
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CAN YOU CUT AGENTS, IT, TELCO, CAPX AND PROTECT CLIENT PERFORMANCE? LIVEVOX SAYS YES
SAN FRANCISCO - LiveVox, the leading provider of hosted-dialer solutions, today announced it can arm industry leaders with the tools to survive the crippling economy by delivering complete, real-time visibility into IT and telephony costs, agent productivity and dollars collected.
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GMAC FINANCIAL SERVICES STATEMENT ON AUTOMOTIVE FINANCE PURCHASE POLICY
DETROIT - GMAC Financial Services today implemented a more conservative purchase policy for consumer auto financing in the United States as a result of the lack of stability in the global capital and credit markets. The changes include limiting purchases to contracts with a credit score of 700 or above. Additionally, the company will restrict contracts with higher advance rates and longer terms. Last week GMAC also increased by 75 basis points the rate it charges dealers for providing non-incentivized consumer auto financing.
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BANCO SANTANDER TO ACQUIRE 75.65% OF SOVEREIGN BANCORP IT DOES NOT CURRENTLY OWN FOR APPROXIMATELY US$1.9 BILLION (€1.4 BILLION
Banco Santander, S.A. (NYSE: STD) and Sovereign Bancorp Inc., ("Sovereign") (NYSE: SOV), parent company of Sovereign Bank ("Bank"), announced today that Banco Santander will acquire Sovereign in a stock-for-stock transaction. Santander currently owns 24.35% of Sovereign's ordinary outstanding shares. The Capital and Finance Committee composed of independent directors of Sovereign requested that Santander consider acquiring the 75.65% of the Company it did not currently own. The Capital and Finance Committee evaluated the transaction and recommended the transaction to the full Board.
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UNITED EUROPE OFFERS $2.3 TRILLION
PARIS - Europe put $2.3 trillion on the line Monday to protect the continent's banks, a figure that dwarfs the Bush administration's $700 billion rescue program, in its most unified response yet to the global financial crisis after a stumbling start.
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GOVERNMENT TO PUMP BILLIONS INTO BANKS, EXPAND DEPOSIT AND LOAN GUARANTEES.
NEW YORK (CNNMoney.com) -- The federal government on Tuesday announced an extraordinary and historic direct investment in the nation's banks - the biggest bet ever made with taxpayer dollars on the U.S. financial system.
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VISA AND MASTERCARD SETTLE DISCOVER LAWSUIT
Discover Financial Services has settled a long running anti-trust lawsuit that accused rivals MasterCard and Visa of blocking access to the bank-issued card market in the US.
read more
FINANCIAL RESCUE PLAN: WHAT'S IN IT
The federal government on Tuesday announced a historic plan to restore confidence in the U.S. financial system and to spur banks to begin lending again more normally - both to each other and to consumers and businesses.
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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 | $42,499,792.00 Auto Deficiencies
AmeriCredit Financial Services
http://www.debtconnection.com/portfolio.asp?617
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3538
$18,862,253.00 Auto Deficiencies
AmeriCredit Financial Services
http://www.debtconnection.com/portfolio.asp?616
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3538
$15,351,192.00 Retail
Oliphant Financial, LLC
http://www.debtconnection.com/portfolio.asp?615
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$5,063,000.00 Credit Cards
Pacific Healthcare Services, Inc.
http://www.debtconnection.com/portfolio.asp?614
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3122
$554,233.00 Other
Pacific Healthcare Services, Inc.
http://www.debtconnection.com/portfolio.asp?613
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3122
$4,564,187.00 Checks
Fairway Financial Solutions LLC
http://www.debtconnection.com/portfolio.asp?612
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3606
$56,100,000.00 Consumer Loans, Credit Cards
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?611
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690
$7,365,529.00 Other
Oliphant Financial, LLC
http://www.debtconnection.com/portfolio.asp?610
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
$6,626,822.00 Other
Oliphant Financial, LLC
http://www.debtconnection.com/portfolio.asp?609
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250
| | Agency | CALLOWAY HOLDINGS
281-914-8636
LDG FINANCIAL SERVICES, LLC
678-225-1066
| | Attorney | HEIS & WENSTRUP CO., L.P.A.
513-421-4225
| | Consultants | LEXISNEXIS
561-999-8622
| | Debt Buyers | CAVALRY PORTFOLIO SERVICES, LLC
602-667-0128
CALLOWAY HOLDINGS
281-914-8636
TURNKEY ASSET RECOVERY SOLUTIONS
419-973-5205
| | Debt Sellers | FAIRWAY FINANCIAL SOLUTIONS LLC
Ken Hannold
972-869-7659
More Information
| | Skip Tracing | APEX DATA NETWORK INC
DENISE LEE
858-568-2403
More Information
| | Training | THE DEBT MARKETPLACE, INC.
Dennis Hammond
562-903-7220
More Information
WORLD RESEARCH GROUP
646-723-8060
|
|
Industry Events
|
Distressed Retailed Summit
Infocast
Digital Sandbox
New York, NY
October 16 - 17, 2008
More Information
NARCA 2008 Fall Collection Conference
NARCA
Omni Shoreham Hotel
Washington, DC
October 16 - 18, 2008
More Information
Financial Services Collections Conference
Collections & Credit Risk
Bellagio Hotel and Casino
Las Vegas, NV
October 22 - 24, 2008
More Information
7th Annual BITS/American Banker Financial Services Outsourcing Conference
SourceMedia, Inc.
Westin Alexandria
Alexandria, VA
October 27 - 28, 2008
More Information
Subprime Litigation & Enforcement
American Conference Institute
Millennium Broadway Hotel
New York, NY
October 28 - 29, 2008
More Information
US Hispanic and Latin American Markets: A World of Emerging Opportunities
Credit & Collection Symposium of the Americas
Hyatt Regency Hotel
Miami, FL
October 28 - 30, 2008
More Information
2008 International Insolvency Symposium
American Conference Institute
Hilton Frankfurt
Frankfurt, Germany
October 31, 2008
More Information
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| At A Glance - Wednesday, April 09, 2008 |
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| 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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