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COMMERCIAL COLLECTION AGENCIES OF AMERICA NEWS

Who knew there was so much to learn in San Diego?
Commercial Collection Agencies of America
Commercial Collection Agencies of America is hosting its spring meeting in San Diego next month, where agency members will fulfill continuing education requirements and network with attorneys who handle litigation worldwide on behalf of their clients.

"One main requirement of maintaining the valuable certification granted by Commercial Collection Agencies of America is to attend classes on emerging topics, trends and challenges in the debt collection industry," commented Annette M. Waggoner, Executive Director of the organization.

In San Diego, agency members will be briefed on the latest license landscape, different types of bonds to hold which protect the credit industry and the many nuances of SSAE 16 and SOC audit standards. In addition, members of the North American Collection Agency Regulatory Association will return to inform members on different state commercial collection issues.

"This type of higher education better serves not only our members, but the credit industry as well," commented Waggoner. "Using a certified agency who is required to be up to date on all pertinent laws and regulations ensures better handling of claims, better processes and ultimately, better collection rates."

Visit http://www.commercialcollectionagenciesofamerica.com to view a list of agency members.
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INDUSTRY NEWS


Increasing sales with customers you know can pay
Credit Today
This credit management veteran visited a customer with the sales person and — Bingo! — he spotted an opportunity that has increased sales by $12,000 a month. Better yet, it opened a new sales channel for previously hard-to-move product. Not bad for one day's work.
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Despite regulatory advances, risk remains a danger to large banks
The New York Times
With all the new laws and regulations since the financial crisis, it would be easy to believe that the banking industry is safer. Unfortunately, speakers at the Federal Reserve conference at George Washington University have offered a range of reasons for why that's not the case. First, the regulatory framework remains fragmented.
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The Fed may be overreacting to the dollar's strength
Bloomberg
The rising U.S. dollar has economists everywhere analyzing what the effects to U.S. growth will be, and those at the Federal Reserve are no exception. As the central bank considers raising interest rates for the first time since 2006, "export growth has weakened — probably the strong dollar is one reason for that," Chair Janet Yellen said during a press conference following a two-day Fed meeting.
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Deutsche Bank doesn't want checking accounts
Bloomberg View
Deutsche Bank is considering the sale of all or part of its retail business or, at the least, serious cuts in the retail division. These days, it seems dealing with private clients may be becoming too much of a hassle — and not just for Deutsche Bank. The bank made a big move into retail in 2010, acquiring Postbank and its 14 million clients — a bigger customer base than the 10 million Deutsche Bank had at the time — and dwarfing all other private lenders in German retail banking.
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Standard General prevails in bidding at RadioShack bankruptcy auction
The Wall Street Journal
Standard General LP prevailed in a bid for the assets of bankrupt electronics retailer RadioShack Corp., according to people familiar with the situation. Standard General was RadioShack's largest shareholder and provided a $535 million rescue-financing package to the Fort Worth, Texas-based retailer last year. RadioShack subsequently filed for bankruptcy protection in February. Any sale requires approval of the bankruptcy court in Wilmington, Delaware.
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Boston streetwear company Karmaloop files for bankruptcy
The Boston Globe
Weighed down by millions in debt and by poor business ventures, the Boston streetwear company Karmaloop Inc. filed for Chapter 11 bankruptcy recently. Meanwhile, rapper Kanye West and hip-hop entrepreneur Dame Dash expressed interest in buying a majority stake of the 15-year-old company, said Greg Selkoe, founder and chief executive of Karmaloop.
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4 tips on how to grow leaders within an organization
By Betty Boyd
Growing leaders within an organization is a great opportunity, but leadership is not developed overnight. It takes a long, steady process of coaching, mentoring and giving people a chance to excel. Current leaders must step up and mold the future of the organization. Here are four tips to better help grow leaders within your organization.
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What everyone needs to know about running productive meetings
Harvard Business Review
Raise your hand if you think the majority of meetings are a complete waste of your time — not to mention your organization's time. You don't need to look far for confirming evidence. Consider the data on how one company's weekly executive committee meeting rippled through the organization in a profoundly disturbing way, ultimately taking up to 300,000 hours a year. We could all use some of that time back. But, what can we do about the seemingly endless cycle of meetings that we’re all caught up in?
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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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