Archive for June, 2010

Executive Changes: Portfolio Recovery Associates Appoints Three Senior Executives

Posted on 30. Jun, 2010 by .

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NORFOLK, VA — Portfolio Recovery Associates, Inc., (NASDAQ: PRAA) a company that purchases and manages portfolios of defaulted consumer receivables and provides a broad range of receivables management and payments processing services, today announced the hiring of Neal Petrovich as senior vice president, Finance, Naomi Muellner as vice president, Bankruptcy Services and Andrea Hunter, vice president, Audit and Business Development.

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MoneyGram International Makes $30 million Debt Prepayment

Posted on 30. Jun, 2010 by .

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MINNEAPOLIS, Jun 30, 2010 (BUSINESS WIRE) — MoneyGram International /quotes/comstock/13*!mgi/quotes/nls/mgi (MGI 2.49, +0.08, +3.43%) , a global leader in the payment services industry, announces it will make an optional $30 million prepayment on its tranche B term loan under the senior secured credit facility. The loan payment will be made today, Wednesday, June 30, 2010.

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Missouri Court Dismisses Missouri Attorney General’s Lawsuit Against Portfolio Recovery Associates

Posted on 30. Jun, 2010 by .

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NORFOLK, VA, Jun 29, 2010 (MARKETWIRE via COMTEX) — Portfolio Recovery Associates, Inc. /quotes/comstock/15*!praa/quotes/nls/praa (PRAA 67.64, +0.96, +1.44%) , a company that, through its subsidiaries, purchases and manages portfolios of defaulted consumer receivables and provides a broad range of receivables management and payments processing services, today announced that a Missouri court threw out a case filed last year by the Missouri Attorney General against PRAA and its subsidiary, Portfolio Recovery Associates, LLC.

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Mortgage Delinquencies Drop for Fourth Consecutive Month – Equifax

Posted on 30. Jun, 2010 by .

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ATLANTA, June 29 /PRNewswire-FirstCall/ — While consumer delinquency rates remain near historic highs across many businesses, those for auto, credit card and home equity loans continued their year-over-year decline in May, according to Equifax Inc.’s (NYSE: EFX) monthly Credit Trend Report. And for the fourth consecutive month, first or primary mortgage delinquencies decreased, though they remain higher than for the same months in 2009.

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TSYS to Broadcast Second-Quarter 2010 Results

Posted on 30. Jun, 2010 by .

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TSYS will issue its second-quarter earnings report on July 21, 2010, at approximately 4:00 p.m. EDT. A conference call to discuss these results, business trends and future projections will be held on July 21, 2010 at 5:00 p.m. EDT.

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Americans Could Lose Unemployment Benefits Soon

Posted on 30. Jun, 2010 by .

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FT. LAUDERDALE, FL – On June 24th the U.S. Senate failed for the third time to act on extending unemployment benefits, which are currently set to expire in November. Although more than 1.2 million Americans will exhaust their unemployment benefits by the end of June, senators are struggling to reach a compromise. A New Horizon Credit Counseling, a nonprofit credit counseling organization, noted that those who are unemployed and in debt face an even tougher challenge with the loss of this important resource.

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PCI Group Inc. Partners with CR Software LLC

Posted on 29. Jun, 2010 by .

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Fairfax, VA, June 29, 2010 – CR Software LLC (CRS), the leading financial software solutions provider to collections entities, announced today that it has signed a preferred vendor agreement with PCI Group Inc. (Fort Mill, SC), one of the nation’s leading providers of rapid outbound direct mail services for collection agencies and debt buyers.

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Ontario Society of Collection Agencies to Hold 45th Annual Convention

Posted on 29. Jun, 2010 by .

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The Ontario Society of Collection Agencies (www.oscagiencies.com) is holding its 45th Annual Convention and Expo at the Sheraton Fallsview in Niagara Falls, Ontario Canada September 23-24,
2010.

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TransUnion Offers Two Options to Help Industry Meet Risk-Based Pricing Requirements

Posted on 29. Jun, 2010 by .

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CHICAGO, IL — 06/29/10 — To help the financial community comply with the new Risk-Based Pricing Rule issued under the FACT Act, TransUnion announced today that it will be making two solutions available for lenders.

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New Regulations to Oversee Payday Lending

Posted on 29. Jun, 2010 by .

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LOS ANGELES, June 29 /PRNewswire/ — AboutPaydayLoans – In the aftermath of the subprime mortgage collapse, a new agency emerges with the initial goal of overseeing nearly all aspects of consumer finance in order to regulate and hopefully prevent another economic crisis. This new Consumer Financial Protection Bureau (CFPB), which was originally proposed to be a stand-alone “agency” as opposed to the approved bureau which lacks the same enforcement authority, is still going to change the current landscape of consumer credit options in more ways than we can currently predict.

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