The Pillars
Apr. 23, 2015

Commercial Collection Agencies of America donates to Wounded Warrior Project
Commercial Collection Agencies of America
Commercial Collection Agencies of America, through its foundation, Commercial Collection Agencies Gives Back, was recently approved as a supporter by Wounded Warrior Project (WWP) and proudly donated a portion of the profits from its San Diego meeting held last week to WWP.

WWP's mission is to honor and empower wounded warriors and its vision is to foster the most successful, well-adjusted generation of wounded service members in our nation's history.

During a presentation at the general membership meeting on Saturday, members learned about the organization, its efforts and individual members of Commercial Collection Agencies of America also made their own donations to the worthy organization.

"Commercial Collection Agencies Gives Back is the only initiative of its kind, and we are very proud of the assistance that we have been able to give," commented Annette M. Waggoner, Executive Director.More

It isn't just about making a credit decision — it's about knowing why
Credit Today
You can be really successful at going after delinquent accounts. The problem is that this kind of success is often the result of earlier credit management failures. Unless your credit policy is so liberal that late payments are expected, delinquencies are usually evidence that something more and better could have been done before credit was extended. That philosophy has guided this credit management veteran through his 18 very successful years with this $3 billion corporation.More

New York AG settles with major debt buyer over collection lawsuits
New York Attorney General Eric T. Schneiderman has announced a settlement with a publicly traded debt buyer that the AG said was prompted by the ARM firm's practice of "bringing improper debt collection actions against hundreds of New York consumers" specifically on debts that were time-barred under state law. Under the settlement, Asta Funding Inc. will move to vacate more than 300 improperly obtained judgments totaling more than $1.7 million. More

Regulatory relief for banks that rarely fail
The New York Times
Rolling back regulations created after the 2008 crisis has been job No. 1 for leaders of many of the nation's large and powerful banking institutions. So it's no surprise that recent proposals for regulatory reform in the financial industry have overwhelmingly been the work of big banks or their supporters. The bankers want to return to the days when they could roll the dice, pocket their winnings and rely on the taxpayer if something went wrong. More

JP Morgan reassigns banking roles across Asia
The Wall Street Journal
J.P. Morgan Chase & Co. reassigned roles among its senior bankers across Asia, giving broader roles to a handful of veteran bankers from within its own ranks, according to people familiar with the situation. The New York-based bank named Carl Chien and David Li as co-heads of Greater China banking, adding to their current roles as senior country officers, according to the people.More

China's new development bank is a wake-up call for Washington
Harvard Business Review
The founder of modern Singapore, Lee Kwan Yew, who passed away recently, had a rather pointed assessment of what's known as the U.S. "Asia pivot" policy: Americans think of international relations like a movie, imagining that we can hit the pause button when we need to and then push play when we want to return. No doubt, there has been much for the U.S. to focus on elsewhere in the world recently, from Russia to Iran. But in past weeks, it seems that the movie in Asia has been on fast-forward around global development and financing. More

Frederick's seeks bankruptcy after closing lingere stores
Frederick's of Hollywood Group Inc., known for its racy women's lingerie, filed for bankruptcy after closing all its stores and reaching a deal to sell the company as an online-only venture to Authentic Brands Group LLC. The Los Angeles-based company notified customers on its website that it had closed all its brick-and-mortar locations. The company listed $36.5 million in assets and $106 million in debt in Chapter 11 papers filed in U.S. bankruptcy court in Wilmington, Delaware.More

Mentoring and leading go hand in hand
By Betty Boyd
Leadership is an opportunity to give back, and mentoring is the best way to build future leaders. Mentoring allows leaders to pass on their knowledge, which benefits both those being mentored and the organization. Mentoring is an opportunity that should not be taken lightly. It is a way forward in achieving the dreams and goals for both individuals and the organization. Here are four tips to help make mentoring matter.More

There's a difference between cooperation and collaboration
Harvard Business Review
Everyone seems to agree that collaboration across functions is critical for major projects and initiatives. However, meshing the skills and resources of different departments to achieve a larger organizational goal is much easier said than done. It takes much more than people being willing to get together, share information and cooperate.More