Interested in Consumer and Retail news and analysis?

News Headlines

• Delinquent Consumer Debt Leading Cause for Security Clearance Denials 9/3/10
• Banks Forced to Repossess Homes Despite Collection Efforts 7/16/10
• Credit Card Debt Falls for 20th Consecutive Month, Down 10.5% in May 7/9/10
• New Consumer Credit Default Index to Standardize Late Payment Data 5/5/10
• Fed to Begin Exhaustive Consumer Finance and Credit Survey 4/21/10
• ARM Leaders Discuss New Consumer Financial Protection Proposal 3/18/10
• CARD Act Could Negatively Impact Creditworthy Consumers’ Credit Scores 3/12/10
• State AG Seizes $12 million in Assets in Debt Settlement Action 2/25/10
• American Debtor Pool Undergoing Massive Demographic Shift 1/28/10
• Movement Underway to Shift Money from Large Banks to Community Banks 1/13/10
• U.S. Consumer Credit Declines at Record Pace in November 1/11/10
• NARS Acquired by H.I.G. Capital and Reprise Management Group 12/4/09
• State AG Hits Debt Settlement Companies with $370,000 in Fines, Refund 12/2/09
• Consumer Bankruptcies March Upward, With More to Come 11/24/09
• Another Big Loss for Consumer Credit Card Debt in September 11/9/09
• State Launching Major Crackdown on Debt Collectors 11/3/09
• NY Attorney General Wins $200,000 Suit Against Debt Settlement Firm 10/16/09
• Credit Card Debt Evaporating in U.S.; Down 13 percent in August 10/8/09
• Consumer Credit Contracts at Record Pace in July 9/9/09
• Consumer Credit Balances Shifting to Lower Quality Brackets 9/4/09
• Survey Says Health Care Reform Still Popular as ARM Industry Examine Changes 9/3/09
• Credit Card Chargeoffs and Delinquencies Contracting Over Summer 8/26/09
• NY AG Sues to Shut Down Collection Agency Accused of Sexual Harassment 8/19/09
• Consumer Credit Outstanding Continued Nosedive in June 8/10/09
• Credit Card Business Model Tested in Current Downturn 7/15/09
• FDCPA Lawsuit Volume Picks Up Steam in June 7/13/09
• Consumer Bankruptcies on Pace to Hit Pre-Reform Levels in 2009 7/8/09
• Supreme Court Agrees to Hear Challenge to Bankruptcy Reform Law Provision 6/9/09
• U.S. Consumer Credit Plummets in April; Credit Cards Fall 11 percent 6/8/09
• Credit Card Bill Impact on ARM Industry Uncertain 5/27/09
• NYC Collection Law Could Signal Problems for the ARM Industry 4/17/09
• ACA Launches Consumer-Focused Web Site to Help Answer Tough Financial Questions 4/15/09
• Credit Card Debt Shrinks at Fastest Rate in 30 Years in February 4/8/09
• Walgreens Looks to Make a Larger Footprint on Basic Health Care Delivery 4/3/09
• Consumer Credit Gains in January Led by Cards 3/9/09
• U.S. Consumer Credit Falls Again in December; November Revised Lower 2/9/09
• ADP Report Shows Another Month of Large Job Losses 2/4/09
• ADP Report Shows Another Month of Large Job Losses 2/4/09
• Medical Debt Collections from Self Pay Accounts to Increase in 2009 12/23/08
• New Illinois Law Could Benefit Medical Debt Recoveries for State Hospitals 12/19/08
• American Household Debt Declines for First Time Since 1952 12/12/08
• Claims for Unemployment Benefits Reach a 26-Year High 12/11/08
• Consumer Credit Drops $3.5 billion in October 12/8/08
• Big 3 Automakers Begging for $34 billion; Congress Eyeing $15 billion 12/8/08
• U.S. Lost 533,000 Jobs in November; Unemployment Rate 6.7% 12/5/08
• Debt Settlement Association Pushing for Regulation, Standardization 12/3/08
• Government to Spend $200 billion to Unclog Consumer Lending Market 11/26/08
• Unexpected Increase in Mortgage Applications 11/26/08
• Third Quarter GDP Growth Revised Down to -0.5 Percent 11/25/08
• Workers, Consumers to be Biggest Losers in Big Three Automakers’ Breakdown 11/21/08

Analysis Headlines

• Understanding the Shift Toward Consumers in the ARM Legal Landscape
  ARM leaders would be well-advised to understand the current legal and regulatory environments governing the industry. There have been major changes recently and even larger ones may be to come.
• Rebuilding America...One Credit Score at a Time
  By placing into effect strict new controls over the accuracy and integrity of data reported to the credit bureaus, FACTA 312 is expected to produce substantial challenges for all data furnishers in 2010.
• New World Order? The Recession's Lasting Impact on the ARM Industry
  Complacency is a recipe for failure in the wake of the current recession. In order to thrive, ARM companies must understand and monitor economic trends, pay close attention to major changes happening in consumer attitudes and behaviors toward debt, and adjust their business strategy accordingly.
• Over $33 Billion in U.S. Consumer Credit at Risk of Default
  Poor economic conditions are dramatically increasing the amount of outstanding consumer credit that is at risk of default. The immediate measures that credit issuers are taking now to mitigate this risk will have long-term ramifications for their ARM service providers - especially in the bank card/credit card sector.
• The Amount of Consumer Credit At Risk Jumps In February
  Kaulkin Ginsberg is tracking the amount of consumer credit at risk of default using a number of leading indicators, such as unemployment and bankruptcy filings. The sharp increase in both factors has translated into over $24 billion worth of consumer credit at risk in February alone.
• Welcome Tax Season
  Thanks to income tax refunds, the first quarter of the year has long been the best time of the year for collections. 2009 seems to be following the same pattern as prior years. Although recovery rates as a whole are still poor year over year, many recovery executives are reporting feeling better now than they have in many months.
• Consumer Credit At Risk On The Rise
  Kaulkin Ginsberg’s Consumer Default Risk Index provides an indication of consumer credit at risk due to bankruptcy. Rising unemployment has driven this index to rise nearly 60% compared to last year, translating into $20.04 billion worth of consumer credit at risk for the December monthly filing period.
• Survival Tips to Weather the Economy for Bankcard/Credit Card Agencies
  The economy has been especially hard on agencies focused on the bank card/credit card arena, and predictions persist that unemployment could further dampen recovery efforts this year. Here are a few thoughts to consider for positioning your firm to survive -- and even grow -- during this turbulent time.
• The Labor Market And The November Bankruptcy Risk Reading
  
• Q3 Ends with Moderating Consumer Sentiment, but Confidence Hit by October Plunge
  
• Cost of Living, Not Debt, is the Biggest Issue Facing Young Adults
  
• Understanding Hispanic Culture and Credit
  
• Consumers are Continuing to Spend But Not Contribute to Real Economic Growth
  
• ARM Companies Under Pressure as Q2 Ends with Persistent Consumer Pessimism
  
• Market Report: Seven Factors Influencing the Credit Card Market
  
• Credit Card Delinquencies Drop As Charge-Offs Continue to Rise
  
• Financial Services Creditor Survey Underscores Anxiety about Current Economic Conditions
  
• Consumer Gloominess Likely to Continue to Pressure Collections
  Tightened budgets and a heightened awareness of one’s financial burdens will inevitably produce a difficult recovery environment for collectors, but to what extent remains to be seen.
• Credit Card Spending Growth Continues Unabated As Do Charge-Offs and Delinquencies
  Consumers will rely more on credit and have less cash to pay down debt as energy and food prices rise, impacting collections for both creditors and the accounts receivable management industry.
• Sales and Collection Departments Need to Work Together for Company Success
  
• Spending Anxiety Pressures American Households
  
• Skittish Consumers Threaten the ARM Industry
  Consumers and their skittish outlook on spending, and especially repayments, will begin to impact recovery rates on the collection agency level this year.
• Consumer Confidence Down
  
• Person-to-Person Lending Set to Impact Credit Market
  
• Sector-Specific Trends Impacting Credit Card ARM: Telecom
  Many credit sectors in the US are experiencing some special issues relating to accounts receivable. insideARM.com is exploring the impact these issues may have on the broadest ARM segment: credit cards.
• Agencies Working For Debtors?
  
• Customer Centric Collections – Part 2
  The second in a series of tips, this month's tip will consider the operational issues that affect customer centric collections.
• Predicting a Cure for Collections-Induced Customer Attrition
  Customer attrition is a topic that has exclusively been the domain of marketing and customer service in the past. But now, the collections department may need to think about it.
• Customer Centric Collections – Part 1
  This Tip of the Month from PIC Solutions outlines ways credit granting organizations can collect more from defaulting consumers if they focus on the customer rather than the defaulted account.
• As The Debtor Turns
  Debtors are getting savvier when it comes to the FDCPA and compliance. What can collection agencies do to counter this trend?
• Making Applications Processes Customer Friendly – Part 3
  

  With today’s technology options, applications processes can be enhanced at almost every stage. Effective planning can lead to improvements in client service, dramatic reductions in turn around time, reduced costs and reports that allow the process to be monitored and improved over time.

• Making Applications Processes Customer Friendly - Part 2
  Asset-based products have the worst reputation for confusing application processes. This series of tips will explain how you can make your asset based applications processes less onerous for you and your customers.
• Making Applications Processes Customer Friendly – Part 1
  Most customers find applying for credit difficult and confusing. Institutions get accused of asking for too much information for a ‘simple answer’ and often application forms are full of ambiguous and seemingly unnecessary information

Research Headlines

• Kaulkin Report 7 Excerpt - Significant Forecasted Growth in Consumer Credit 
• Kaulkin Report 7 Excerpt - More Household Income Used to Repay Debt 
• Kaulkin Report 6th Edition - The Credit Economy 

Press Releases

• Total U.S. Bankruptcies in First Half of 2010 Up 14 Percent Over 2009 8/24/10
• TASC Announces Support for FTC Debt Settlement Rules 8/17/10
• US Debt Resolve Announces Compliance with Telemarketing Sales Rule 8/17/10
• Experian Provides Insight into Credit Card Trends of the Top 20 Major Metro Areas 8/10/10
• FTC Issues Final Rule to Protect Consumers in Credit Card Debt 7/30/10
• 75 Percent of Top Metro Areas Post Increasing Foreclosure Activity in First Half of 2010 7/29/10
• State AG Reaches Settlement with Payday Lenders; Agreement Nets $305,000 in Refunds 7/23/10
• New Citi Survey Finds 62% of Americans Believe the Economy Has Yet to Hit Bottom 7/22/10
• 1.65 Million U.S. Properties Receive Foreclosure Filings in First Half of 2010 7/15/10
• Bank Card Delinquencies Fall to Lowest Level in Eight Years: ABA 7/7/10
• Consumer Bankruptcy Filings Up 14 Percent Through First Half of 2010 7/6/10
• FICO and PIC Solutions Expand Alliance to Bring Decision Management Solutions to South Africa and Middle East 7/2/10
• Fitch: Delinquencies Hit 17-Month Low for U.S. Credit Card ABS 7/1/10
• FTC and States Poised to Crackdown on Rogue Debt Settlement Firms 7/1/10
• TransUnion Offers Two Options to Help Industry Meet Risk-Based Pricing Requirements 6/30/10
• CSI Financial Services to Provide Patient-Friendly Bank Loans to Three Midwest Hospital Systems 6/27/10
• MBNA Release Credit Card To Help Beat Negative Order Of Payment 6/27/10
• May Consumer Bankruptcy Filings Up 9 Percent from Last Year; Down 6 Percent from April 6/7/10
• Credit Card Delinquency Rates Fall in First Quarter: TransUnion 5/17/10
• Experian Ranks Top 20 Major U.S. Metropolitan Areas by Average Debt Per Consumer 5/14/10
• Foreclosure Activity Decreases 9 Percent In April According To Realtytrac 5/13/10
• Oregon AG Bans Nation's Largest Debt Settlement Company from Operating in State 5/12/10
• National Mortgage Delinquencies Fall 1.74 Percent in Q1: TransUnion 5/10/10
• Are Teachers Making the Grade in Personal Finance Education? 5/6/10
• Pending Debt Settlement Regulation Driving Strong Growth for Persolvo Data Systems 5/6/10
• First Drop in TransUnion Credit Risk Index Since 2008 Signals Improved Consumer Credit Risk Conditions 5/5/10
• S&P and Experian Team Up to Launch Consumer Credit Default Indices 5/4/10
• Fitch: U.S. Credit Card Delinquencies Fall to Six-Month Lows 5/3/10
• Veda Advantage: Australian Consumer Credit Demand Down, Mortgages Down 15% 4/28/10
• Debt Settlement Industry Heads To Congress to Debate the Legitimacy of Debt Settlement 4/27/10
• Intuit Financial Healthcare Check-Up Shows Americans Confused About Medical Statements 4/27/10
• FTC Testifies About Continuing Efforts to Protect Consumers from Deceptive Debt Relief Scams 4/23/10
• Debt Settlement Industry Responds to Misinformation 4/15/10
• Colorado AG Warns Consumers About Spike in Debt Collection Complaints 3/30/10
• Collection Agency Helps Raise Money for Financial Literacy 3/29/10
• "Show Me the Value," Say Recession-Weary Consumers, According to Convergys Research 3/24/10
• TransUnion Credit Risk Index Plateaus, Suggesting Improved Consumer Risk Conditions for the U.S. 3/17/10
• Jumpstart Coalition Honors ACA International Education Foundation Chair 3/16/10
• Credit Counseling Services See Annual Credit Card Fees Returning With the New Credit Card Act in Place 3/8/10
• TASC Executive Director to Discuss Debt Settlement at Collections & Credit Risk Conference 3/5/10
• TASC: Consumers Must be Vigilant When Assessing Credit Options 3/4/10
• iPay Technologies Announces Billpayperless(TM) Solution 3/1/10
• Research and Markets: Creditor Metrics: Consumer Approaches to Payment Protection Insurance Linked to Personal Loans and Consumer Credit in Europe 2/26/10
• Online Resources and Peoplesbank Launch iPhone Application 2/23/10
• The Ulzheimer Group, LLC Partners with WebRecon to Provide Credit Expert Witness Services to Attorneys 2/22/10
• Teletrack Advances Its Specialty Credit Platform Through Integration With Transunion Credit Information And Scores 2/18/10
• TransUnion: National Mortgage Delinquencies Jumped 10.24 Percent in 4Q 2/16/10
• Credit Card Offers Make a Comeback to US Households: Synovate Mail Monitor 2/11/10
• Consumer Credit Videos, Quizzes at TransUnion.com Focus on Key Aspect of Personal Finance: Managing Credit Health 2/10/10
• UK Consumer Credit Market Outlook: Q3 2009 2/2/10