PAULSON SAYS TREASURY WILL BROADEN REACH TO INCLUDE NON-BANK FINANCIAL FIRMS AND SEEK OUT PRIVATE CAPITAL TO MATCH U.S. FUNDS.
NEW YORK - Treasury Secretary Henry Paulson said Wednesday the government would broaden the reach of the $700 billion bailout plan to support non-bank financial institutions that provide consumer credit, such as credit cards and auto loans.
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DISCOVER FINANCIAL SERVICES RECEIVES HONORS FOR TECHNOLOGY THAT DEPLOYS BUSINESS MODELS FASTER
RIVERWOODS, Ill.- Discover Financial Services has received Computerworld's inaugural Enterprise Intelligence Award that honors best practices in the use of information technology solutions built on Teradata platforms.
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FCAC AND MASTERCARD UNVEIL MODEL CREDIT CARD APPLICATION FORM
OTTAWA, ONTARIO - In an effort to improve credit card disclosure for consumers, the Financial Consumer Agency of Canada (FCAC) and MasterCard Canada today made public a new model credit card application form designed to help Canadian consumers better understand what they are applying for and the terminology used in the form.
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INTERAGENCY STATEMENT ON MEETING THE NEEDS OF CREDITWORTHY BORROWERS
The Department of the Treasury, the Federal Deposit Insurance Corporation, and the Federal Reserve have recently put into place several programs designed to promote financial stability and to mitigate procyclical effects of the current market conditions.
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INDIANAPOLIS DEBT COLLECTION FIRM TO EXPAND
INDIANAPOLIS - An Indianapolis company that collects unpaid debts plans to double its 250-person work force.
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A DEBT LEGAL LOOPHOLE IN NEVADA
Bill collectors have their eye on Nevada. That's because we have the highest percentage of people 90 days behind on credit card payments. That could mean a huge amount of debt will soon be going into collections.
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HARD TIMES SLAM COLLECTION AGENCIES
HACKENSACK, N.J. - You won't find many bill collectors twiddling their thumbs these days.
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NATICK COLLECTION OWNER RISKS DEFAULT
CHICAGO - General Growth Properties Inc. shares plummeted Tuesday after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month.
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U.S. UNVEILS MORTGAGE PLAN
NEW YORK - The Bush administration on Tuesday unveiled a new program to modify mortgages and stabilize the battered real estate market, but the plan stops short of providing direct government financial help to at-risk homeowners.
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REMARKS BY SECRETARY HENRY M. PAULSON, JR. ON FINANCIAL RESCUE PACKAGE AND ECONOMIC UPDATE
The actions taken by Treasury, the Federal Reserve and the FDIC in October have clearly helped stabilize our financial system. Before we acted, we were at a tipping point. Credit markets were largely frozen, denying financial institutions, businesses and consumers access to vital funding and credit. U.S. and European financial institutions were under extreme pressure, and investor confidence in our system was dangerously low.
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CONVERGYS ANNOUNCES INTERVOICE VOICE PORTAL 6 AND ENABLES MOBILE SELF-SERVICE
Convergys Corporation (NYSE: CVG), a global leader in relationship management, announced today Intervoice [R] Voice Portal 6.0 (IVP 6) and the introduction of its next-generation application creation environment - Interaction Composer.
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COLORADO STATUTE REQUIRING WEB SITE IN COLLECTION NOTICES POSES PRACTICAL PROBLEMS
Technical difficulties with state attorney general's Web site cause confusion, raise concerns about compliance.
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CITI TO MODIFY $20 BILLION IN HOME LOANS
NEW YORK - Citigroup says it will expand its foreclosure prevention efforts and try to keep 130,000 troubled borrowers with $20 billion in mortgages in their homes.
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REGAL TECHNOLOGIES, LLC INTEGRATED WITH CR SOFTWARE® COLLECTION RESOURCE SYSTEM™
CR Software LLC (CRS), the leading financial software solutions provider to collections entities, and Regal Technologies, a provider of quality payment processing products and services to the collection industry, announces today the availability of their new real-time credit card gateway product.
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LAWSUIT TARGETS SAN MATEO DEBT COMPANY
A San Mateo-based debt reduction company made misleading claims to its customers and lacks proper licensing from the state, according to a lawsuit recently filed against it by the San Mateo County District Attorney's Office and the California Department of Corporations.
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BUSH'S TAX BREAKS FOR BANKS COULD COST CALIFORNIA $2 BILLION
Even as California's fiscal woes mount, the state is slated to lose an additional $2 billion in coming years as a result of new tax breaks the Bush administration created for a small group of banks including California-based Wells Fargo.
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VISA SETS GLOBAL PCI DSS DEADLINES
Visa Inc. (NYSE: V) today announced global mandates for compliance with the Payment Card Industry Data Security Standard (PCI DSS), creating a consistent framework for compliance among merchants, service providers and their agents.
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JOIN YOUR INDUSTRY COLLEAGUES AT THE 2009 DBA INTERNATIONAL CONFERENCE!
Start 2009 with some Vegas glamour and glitz while you strengthen longstanding partnerships, develop new relationships, and create new business opportunities. The DBA International Annual Conference is one of the most respected and well attended events in the industry.
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WELLS FARGO HSBC TRADE BANK TO PROVIDE $5 MILLION LOAN TO HELP BUILD INFRASTRUCTURE FOR PRODUCE COMPANY
Wells Fargo HSBC Trade Bank N.A. announced that it has closed its first financing in connection with a U.S. economic development agency guaranty, for a San Diego based company.
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HSBC BAD DEBT CHARGES SOAR TO $4.3 BILLION
HSBC today revealed that charges on consumer loans that have gone sour soared by $700 million to $4.3 billion during the third quarter as Europe's biggest bank by assets felt the pain of America's nosedive into recession.
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