Collections & Credit Risk articles from October 2008

Collections & Credit Risk archives from October 2008

Playing Politics.(Editor's Note)
October 1, 2008... Byline: Darren Waggoner, Editor Next month, with the election of either Democrat Barack Obama or Republican John McCain, the collection industry will begin to better understand what challenges might be in store for debt collectors in the...

Regulatory Threat Looms Over Collections.(News Analysis)
October 1, 2008... Whatever the outcome of the Presidential election next month, most expect the Democrats to gain seats in Congress, which could lead to additional regulations. "Elected officials will look for more protective measures for consumers," says...

Industry News.(News Analysis)
October 1, 2008... MGIC Investment Corp., a Milwaukee-based mortgage insurer, sold its 24.25% stake in Sherman Financial Group LLC back to the debt buyer. MGIC sold more than 2.4 million shares for $209.5 million, according to a Securities and Exchange Commission...

ChoicePoint Successfully Rebuilds Image.(News Analysis)(appointment of Carol DiBattiste)
October 1, 2008... Since ChoicePoint Asset Management LLC suffered a data breach in 2005 that involved criminals stealing personal information of more than 145,000 consumers - an incident that drew sharp rebukes from legislators and the public from the way...

The Knowledge Gap; Can lenders help consumers understand credit and become better customers?(Credit Education)
October 1, 2008... Byline: Carolyn Heinze The Mortgage market meltdown exposed widespread lax lending practices in the credit business in recent years. Less clear is the role financial education - or a lack thereof - played. With soaring food and gas...

The Road to the The Road to the White House... ... and how the next president might shape the collection industry.(CCR Exclusive)
October 1, 2008... Byline: Jane Adler and Darren Waggoner With high gas prices, a housing crisis and rising unemployment, the economy has emerged as the central issue in the campaign for U.S. President. But with no town hall meetings or televised debates...

The Dirt on Data Breaches; Companies risk losing customers forever unless they move fast to rebuild confidence when personal information is compromised.(Cover Story)
October 1, 2008... Byline: Peter Lucas Data breaches are a nightmare for financial institutions. Stolen information not only can lead to fraud on existing accounts but can jeopardize new accounts and, of course, create identity theft headaches. What's more,...

Giving Credit, Carefully; Card issuers are tightening lending standards, but prudent analysis and cardholder management can help build better portfolios.(Risk Management)
October 1, 2008... Byline: Nadia Oehlsen Combine growing fears of a recession with spikes in delinquencies and charge-offs and it is clear why credit card issuers are increasingly cautious with cardholders. Consumers are feeling significant economic...

Bankruptcies: New Collections Growth.(Guest Column)
October 1, 2008... Byline: Robert S. Bernstein and Scott E. Schuster Creditors are finding new ways to collect from bankrupt debtors since Congress amended the U.S. Bankruptcy Code in 2005. The amendments grant unsecured creditors new collection tools,...