Archive for December, 2010

FDCPA and Other Consumer Lawsuit Statistics, December 1-15, 2010

Posted on 30. Dec, 2010 by .

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Grand Rapids, MI (December 29, 2010) – The following statistics are provided to the ARM industry
courtesy of WebRecon LLC.
FDCPA and Other Consumer Lawsuit Statistics, December 1-15, 2010
There were about 526 lawsuits filed under consumer statutes in the first half of December 2010. Here is
an approximate breakdown:
 516 FDCPA
 49 FCRA
 20 TCPA
 17 TILA

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Bankcards Leading Way for New Credit Trend According to Equifax

Posted on 29. Dec, 2010 by .

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Delinquency Rates Lower for All Industry Groups

ATLANTA, Dec. 29, 2010 /PRNewswire/ — Bankcards continued to lead the flow of new credit into the market in November as delinquency rates continued to fall, according to Equifax Inc.’s EFX monthly Credit Trend Report.

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TSYS to Broadcast Fourth-Quarter 2010 Results

Posted on 29. Dec, 2010 by .

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TSYS will issue its fourth-quarter earnings report on January 25, 2011, at approximately 4:00 p.m. EST. A conference call to discuss these results, business trends and future projections will be held on January 25, 2011 at 5:00 p.m. EST. Shareholders and other interested persons may listen to this conference call via simultaneous internet broadcast at www.tsys.com by clicking on the link under “Webcasts” on the homepage. You must download Windows Media Player (free download available) before accessing the conference call or the replay. The conference call will be archived for 12 months and will be available starting 30 to 45 minutes after the call ends.

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U.S. Bank 2011 Rose Parade Float Reminds Us “Home is Where the Heart Is”

Posted on 29. Dec, 2010 by .

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U.S. Bank returns to the Rose Parade in 2011 with a float that reflects the warmth of home, friendship and community. Themed “Home is Where the Heart Is,” the float will feature children from Los Angeles-based Educating Young Minds, a nonprofit organization which U.S. Bank supports.

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Sallie Mae Encourages Making 2011 Your Smartest Money Year

Posted on 29. Dec, 2010 by .

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As the New Year approaches, 83 percent of Americans look into their crystal ball and see the economic future improving or at least staying the same. At the same time, only 25 percent plan to make New Year’s resolutions dealing with money, according to a new poll. Whether you’re investing in college or other life goals, Sallie Mae puts money management at the forefront with a checklist of 11 smart money resolutions for 2011. The nation’s only financial services company specializing in education invites you to ring in the new year by joining an online chat with financial planners and sharing your money management tips for a chance to win one of the year’s smartest gadgets.

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American Recovery Service Targets 10,000th License Plate Recognition (LPR) Recovery With Digital Recognition Network

Posted on 28. Dec, 2010 by .

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The ARS/SB LPR database averages 40,000 active accounts on a daily basis and well over 200,000 accounts during 2010; the ARS/SB dedicated 24×7 LPR dispatch team processed peak days exceeding 100 LPR recoveries utilizing DRN.

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ACA Attorney Member Wins FDCPA Case

Posted on 28. Dec, 2010 by .

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Richard J. Boudreau & Associates, LLC, an ACA International Members’ Attorney Program member in Salem, N.H., announced that a federal jury in Detroit returned a verdict in favor of the company and two individual employees last week.

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Nearly 700 jobs lost with Sallie Mae closure

Posted on 28. Dec, 2010 by .

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LYNN HAVEN — The Sallie Mae office building closed as a call center in November, displacing nearly 700 employees. On Thursday, Bay Haven Charter Academy Inc. closed on the purchase of the building.

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JPMorgan Chase Announces Final Results of Cash Tender Offer for 5.875% Capital Securities, Series O, of JPMorgan Chase Capital XV

Posted on 28. Dec, 2010 by .

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JPMorgan Chase & Co. (“JPMorgan Chase”) announced today the final results of its previously announced cash tender offer for any and all of the 5.875% Capital Securities, Series O, of JPMorgan Chase Capital XV (the “Securities”). As of 11:59 p.m., New York City time, on December 27, 2010 (the “Offer Expiration Date”), $907,061,000 aggregate liquidation amount of the Securities had been validly tendered and not validly withdrawn pursuant to the tender offer, representing approximately 90.7% of the outstanding aggregate liquidation amount of the Securities. All of the Securities validly tendered and not validly withdrawn pursuant to the tender offer have been accepted for payment. Payment by JPMorgan Chase for such Securities, as well as for consents delivered pursuant to the related consent solicitation without tendering the related Securities, was completed today.

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New Law Requires Financial Institutions to Offer Interest-Bearing Checking Products to Business/Commercial Accounts

Posted on 27. Dec, 2010 by .

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A law on the financial institution books since the Great Depression of the 1930s was nullified by the Dodd-Frank Wall Street Reform Act, which was signed into law on July 21, 2010. Buried somewhere in its 2,300, give or take a few, pages is Sec. 11001. INTEREST‐BEARING TRANSACTION ACCOUNTS AUTHORIZED, which repeals the prohibition on the payment of interest on corporate checking accounts, effective one year from that date.

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