News Bulletins Archive Month: January February March April May June July August September October November December / 2001 2002 2003 2004 2005 2006 2007 2008 July 2008 Court Overturns New Orleans' Use of Tax Collectors The Louisiana Supreme Court unanimously overturned New Orleans' use of private attorneys to collect overdue property taxes. (July 3, 2008) Businesses File Bankruptcy at Faster Rate The softening economy and the collapse of the housing market caused U.S. businesses to file for bankruptcy protection at a higher annualized rate than individuals, according to data compiled from June court records. (July 3, 2008) Bankruptcy Filings Up 30% in First Half of 2008 U.S. consumer bankruptcy filings increased 30% nationwide during the first six months of 2008 from the same period a year ago, according to the American Bankruptcy Institute, relying on data from the National Bankruptcy Research Center. (July 2, 2008) Bank of America to Acquire Countrywide for 39% Less Bank of America Corp. will buy Countrywide Financial Corp., the home lender battered by the collapse of the subprime mortgage market, for $2.52 billion, a 39.3% drop from the $4.15 billion value put on the deal when it was announced in mid-January. (July 2, 2008) Consumer Delinquencies Higher in Q1, ABA Reports Ongoing stress in the housing market combined with general weakness in the overall economy contributed to an increase in the delinquency rates for home equity lines of credit (HELOCs) and bank cards during the first quarter of 2008, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin. (July 2, 2008) SEC Guidance Having Positive Impact on SOX, Protiviti Survey Organizations today are realizing tangible benefits from updated regulatory rules and guidance pertaining to Section 404 of the Sarbanes-Oxley Act that were issued in May of 2007 by the Public Company Accounting Oversight Board (PCAOB) and U.S. Securities and Exchange Commission. (July 1, 2008) Data Breaches Up 69%, NonProfit Group Reports Businesses, governments and universities reported a 69% increase in data breaches in the first half of 2008 compared with the same period in 2007, according to a study by the nonprofit group Identity Theft Resource Center in San Diego, which works to prevent fraud. (July 1, 2008) CCR Exclusive: Student Loan Sector Takes a Hit The credit crunch that began about a year ago continues to ripple through the economy and the student loan market is the latest sector to take a hit. (July 1, 2008) © 2008 CreditandCollectionsWorld.com and SourceMedia, Inc. All rights reserved. Please read our Privacy Policy