HOUSTON - (11/19/03) -- Money Management International saidit has merged with credit counseling firms in California and Maine,making it the nation's largest non-profit credit-counseling firm.MMI said it completed a merger with Consumer Credit CounselingServices of Maine, which has nine full-time offices in the state,and with Consumer Credit Counseling Services of the East Bay, whichhas four offices that serve residents in Alameda, Contra Costa andSolano counties in California. The firms will continue to operatelocally as CCCS, but they will be known nationwide as MMI. Inaddition to in-person counseling, MMI will provide counseling 24hours a day, seven days a week on the telephone and over theInternet. MMI has merged with 10 credit counseling agencies since2000.
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Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
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In a move seen to bolster his 2028 presidential run, California Governor Gavin Newsom named Rohit Chopra, the former director of the Consumer Financial Protection Bureau, to lead a new oversight agency; a Pine Bluff, Arkansas, bank employee was sentenced to 36 months in federal prison for bank theft; a Fairfax, Virginia, security administrator has been charged with allegedly stealing more than $6.6 million from his employer; and more in this week's banking news roundup.
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New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.
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