The credit crisis is creating new opportunities for collection shops to play a larger role in the success of a company. It also creates an imperative for management to foster excellence.

For the third consecutive month, the Credit Manager's Index is signaling that the recession is over and the economy is expanding, according to a report by the National Association of Credit Management (NACM).

Illinois Attorney General Lisa Madigan today filed four lawsuits against seven debt settlement firms, alleging they are misrepresenting the services they provide to consumers and the impact those services will have on credit ratings. Six executives with the companies also are named as defendants.

Three months after stepping down as the chief executive of Royal Bank of Canada's U.S. operations, Scott Custer is gearing up to build a new bank spanning the Carolinas and Virginia.

Legislation set to be introduced in Minnesota later this month would ban the practice known as "re-aging" delinquent accounts, making it more difficult for debt buyers to collect debts - particularly in cases where the amounts owed cannot be verified.

The Federal Trade Commission has proposed a rule that would ban companies that promote foreclosure and mortgage modification programs from charging upfront fees. Instead, such companies would only collect payments after providing services.

RICHLAND, Wash. – Gesa Credit Union said its new corporate headquarters here celebrates its growth and dedication to environmentally-friendly practices.

BCB Bancorp Inc. in Bayonne, N.J., said Tuesday that its fourth-quarter earnings fell 80% from a year earlier, to $434,000.

Superior Bancorp in Birmingham, Ala., said Tuesday that it swung to a fourth-quarter loss of $11.5 million, from a $1.1 million profit a year earlier.

First Defiance Financial Corp. in Ohio has revised its fourth-quarter earnings.

Flagstar Bancorp Inc. in Troy, Mich., came up nearly $200 million shy of its capital-raising goal in a rights offering that expired Monday.

In this age of record bank failures, the deposit/loan model should be shelved for good. Success lies in delivering a wider array of financial services to gain a stronger client bond.

Debt buyer Asta Funding Inc. today reported a net income of $2.5 million for its fiscal first quarter ended Dec. 31, compared to a net loss of $7.8 million in the same period a year earlier. The company, based in Englewood Cliffs, N.J., buys unpaid consumer and credit card loans and tries to collect them.

Three leaders of a Western New York collections operation under investigation for illegal collection practices, including impersonating law enforcement, have been banned from future involvement in the industry, New York Attorney General Andrew Cuomo's office said today.

Hanmi Financial Corp. announced Monday that it has hired the investment bank Cappello Capital Corp. to explore strategic alternatives to satisfy regulators.

Although its thrift unit remains undercapitalized, Anchor BanCorp Wisconsin Inc. in Madison reported improved results for its most recent quarter.

Encore Capital Group Inc. today reported fourth-quarter net income of $8.4 million compared to a net loss of $2.1 million in the same period a year ago. For the full year 2009, the company reported net income of $33 million, up from $13.8 million in 2008.

WEST SENECA, N.Y. – Western New York FCU yesterday said it has joined the state’s Universal Share Network shared branch system as an issuer.

ALTUS, Okla. – Red River FCU said it will build its new corporate headquarters on five acres at University Avenue and Gibson Lane that will house administrative departments and staff, such as human resources, training, marketing and student services.

The Obama administration has pledged $30 billion to help community banks boost small-business lending. That has led to a big debate centering on one issue: Should strugglers be eligible?