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COMMERCIAL COLLECTION AGENCIES OF AMERICA NEWS

Knowledge is Power and Leads to Success!
Commercial Collection Agencies of America
Shortly, Commercial Collection Agencies of America will launch its new online collector certification portal.

Commercial Collection Agencies of America will offer collectors, both senior and junior, in addition to credit personnel an avenue to obtain further education in the different facets of the collection industry.

The courses, all available on-line, 24/7, will ensure that the collector is schooled in topics such as terminology, negotiation, litigation process and bankruptcy. Once the student has completed the curriculum, he/she will be awarded a Certificate of Completion and listed as a graduate on the organization website.

"Our mission is to create a knowledgeable workforce in the commercial collection industry," stated Annette M. Waggoner, Executive Director. "Our program will improve the collectors' knowledge base and make firms more marketable to potential clients and customers."

Once again, Commercial Collection Agencies of America is offering an unparalleled product in keeping with its mission: to elevate the standards of the commercial collection industry.

For more information, contact Annette M. Waggoner at 847-907-4670.
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INDUSTRY NEWS


Credit bureau changes will make fixing errors easier
CNBC
Big changes are coming for credit reports — eventually. New York state Attorney General Eric Schneiderman has announced a settlement with the three major credit reporting bureaus, Equifax, Experian and TransUnion. The bureaus have agreed to make several significant changes over how medical debts will be handled and how disputes over information contained in the reports are resolved. Although a New York state investigation spurred the settlement, most changes will be enacted nationwide.
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Overdues affected 80 percent of corporations in 2014
Credit Today
The new Coface Panorama China on corporate credit risk management in China reveals that eight out of 10 corporations experienced overdue payments in 2014. Coface, a leading global credit insurance group, forecasts that GDP growth will slow down to 7 percent in 2015. As corporates are still facing the challenges of high debt levels, the high cost of financing and low profitability driven by overcapacity, Coface expects that non-payments will not improve in the short term.
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Judge approves 3rd largest TCPA settlement with credit card issuer
InsideARM
A federal judge in Illinois recently granted final approval to a $40 million TCPA class action settlement between plaintiffs and credit card issuer HSBC. It is believed to be the third largest settlement ever under the statute with the same judge coincidentally approving the largest ever settlement with Capital One just weeks prior.
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Negative interest rates threaten the banking system
The Wall Street Journal
Banks are now charging their big institutional customers to keep money on deposit — and these so-called negative interest rates are forcing liquidity out of the banking system. The irony is that this is the result of postcrisis financial regulations that are supposed to ensure that banks remain liquid. J.P. Morgan Chase recently announced it may charge institutional clients as much as 5.5 percent on certain deposits, in an effort to push as much as $100 billion of these deposits out the door.
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Canadian banks shrug off weakening economy
The Wall Street Journal
Canada's banking sector is showing signs of resilience amid a weakening domestic economy, with three of the biggest banks raising their dividends and the largest reporting a record profit. After four years of blockbuster growth, Canadian banks' profits were widely expected to be dragged down by slower lending growth, swooning oil prices and sliding interest rates during the November-to-January quarter. But instead, three of the four big lenders who have reported so far clearly passed their first major test since the financial crisis.
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Just another day in oil: A bankruptcy and job cuts
Houston Chronicle
Hundreds of Texas layoffs, the bankruptcy of a Houston oil company and a warning about unsustainable debt marked more pain for an industry reeling from the effects of falling crude oil prices. Dune Energy, a small Houston-based oil and gas producer filed for bankruptcy protection in federal court recently, becoming just the latest oil company to fall victim to plummeting crude.
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Gold miner Allied Nevada files for Chapter 11 bankruptcy
Bloomberg
Allied Nevada Gold Corp., the operator of the gaming state's Hycroft mine, filed for bankruptcy after operational setbacks and lower gold prices eroded profitability at its sole working property. The company listed debt of $664 million and $941 million of assets as of Dec. 31 in Chapter 11 court documents filed recently in U.S. Bankruptcy Court in Wilmington, Delaware.
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Leadership is more than coaching
By Betty Boyd
Leadership is and always will be an uphill battle. When leading, how do you make a real difference in people's lives? Leadership is more than coaching; it is more like being a teacher. Teachers enable their students to see beyond themselves and give them greater understanding of what can be accomplished. Leaders can be just like teachers, helping their mentees go above and beyond. Here are some tips to becoming a leader who is more of a teacher than a coach.
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When senior managers won't collaborate
Harvard Business Review
Today's professional services firms face a conundrum. As clients have globalized and confronted more-sophisticated technological, regulatory, economic and environmental demands, they've sought help on increasingly complex problems. To keep up, most top-tier firms have created or acquired narrowly defined practice areas and encouraged partners to specialize. As a result, their collective expertise has been distributed across more and more people, places and practice groups.
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The Pillars
Annette M. Waggoner, Executive Director, 847.907.4670

Colby Horton, Executive Vice President of Publishing, 469.420.2601
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Cait Harrison, Content Editor, 469.420.2657   
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