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Credit Research News - August, 2006















HOME :: RESEARCH :: CREDIT :: NEWS :: ARCHIVE

Credit Research News - August, 2006



Homeless Services Agency’s Credit Line Extended

The Board of Supervisors voted to extend a line of credit for the agency charged with distributing homeless funding countywide because it's so far behind in its payments, it was reported Wednesday



IT Resellers Build Profits with Tech Data U.S. and IBM Global Financing SMB Leasing

Helping resellers more profitably sell IT solutions to their small-to-midsize business (SMB) customers, Tech Data Corporation today announced a comprehensive leasing program available through IBM Global Financing (IGF). Resellers can leverage this latest addition to Tech Data's Credit Services offering to finance solutions comprising hardware, software and services from any of Tech Data's vendor business partners.



AT&T To Pay For Credit Monitoring Services For Customers Affected By Hacking - Quick Facts

AT&T To Pay For Credit Monitoring Services For Customers Affected By Hacking - Quick Facts



GE Money To Buy 25.4% Interest In Thailand's Bank Of Ayudhya For US$600 Mln - Update

Monday morning, GE Money, the consumer finance unit of Fairfield, Connecticut-based General Electric Company (GE | charts | news | PowerRating) disclosed a deal to acquire a 25.4% interest, on a fully diluted basis, in Thailand's Bank of Ayudhya or BAY for US$600 million.



First Cash Announces Acquisition of Buy-Here/Pay-Here Automotive Retailer

First Cash Financial Services, Inc. FCFS today announced the acquisition of Auto Master, an automotive retailer and related finance company focused exclusively on the "Buy-Here/Pay-Here" segment of the used vehicle market.



Corillian Chosen By Canadian Card Provider For Online Credit Card Management Solution - Quick Facts

Corillian Chosen By Canadian Card Provider For Online Credit Card Management Solution - Quick Facts



Credit Union Geared Toward Hispanics Forming in Santa Ana

Banks are going after the county’s Hispanic, Korean and Vietnamese residents and their businesses. Now it’s credit unions’ turn.



Reining in Generation P

Credit card companies getting young people hooked on plastic



In Mexico, Wal-Mart Is Counting on Banking

Kept out of financial services in the U.S., the retailer sees an opening for serving its customers south of the border.



Credit card purchases up 4.7%

Credit card purchases rose 7-12% per month in the preceding months in 2006, compared with the corresponding months in 2005.



UK firms take a tough stand on debts

The Credit Services Association (CSA) reveals the new search report suggesting that majority of the British business firms are seeking court's help at an early stage to recover the debts. The trend is expected to bring a lasting impact on the business relationships between the firms in future.



ESL Federal Credit Union Selects Open Solutions' Platform to Support Membership

n order to upgrade it current technology platform, ESL Federal Credit Union, with over $2.8 billion in assets, has selected Open Solutions’ relational core platform – The Complete Credit Union Solution in addition to other complementary applications to handles its enterprise-wide data processing needs.



Federal student loan program exposes data on 21,000 users

The problem was related to a vendor's routine software upgrade



FORUM Credit Union takes Comodo steps to protect members

Advanced Comodo S.A.F.E. Solution Helps FORUM Align To Regulatory Requirements for Mutual Authentication



Area growth creates more poor in county

What does it take to get 100 people out of poverty -- really out of poverty? It takes more than money!



Citigroup expands trade services in California

Citigroup opened two trade service windows in California to make it easier for middle-market clients to process letters of credit locally.



Baycorp lifts annual profit

Australasian credit services company Baycorp has lifted its annual profit, due to a greater number of credit enquiries and a one off gain from the sale of its debt collection business.



Wachovia Card Services will have Atlanta HQ

Wachovia Corp. will base its soon-to-be independent credit card subsidiary in Atlanta, according to an application to be filed Monday with federal regulators.



Big banks to deliver solid Q3 profits despite capital markets slowdown

Canada's six biggest banks continue to feast on "outstanding" credit quality and are expected to deliver a slate of solid results when they report their third-quarter earnings over the next two weeks, analysts say.



Financial file

Vacaville-based Travis Credit Union appointed Sherry Cordonnier to the role of director of corporate relations. Cordonnier has consulted for the credit union for more than 10 years as principal of the Cordonnier Group, a firm that provided organizations with services including media relations, political advocacy, and crisis communications for more than three decades.



New York bank exec pleads guilty to Montreal-based telemarketing scam

A former vice-president of a New York bank has pleaded guilty to his role in a $30 million U.S. telemarketing scheme that originated out of Montreal.



Come in number nine, you're a credit risk

Are you a safe-bet "number one" or a risky "number nine"? Lloyds TSB has categorised every one of its 15 million customers into nine bands - and the number flashes up on screens behind the counter without the customer's knowledge when they carry out a transaction in the bank's branches.



Flanagan joins Mountain America Credit Union

Mountain America Credit Union recently hired Ralph Flanagan as a business development executive with the credit union's Business Services department



First South Bank Receives Outstanding CRA Rating

First South Bancorp, Inc. (Nasdaq: FSBK - News), parent holding company of First South Bank, is pleased to report that First South Bank has received an "Outstanding" rating from the Federal Deposit Insurance Corporation ("FDIC") on its recently completed Community Reinvestment Act ("CRA") examination.



Saline County Now Accepts Credit Cards for Over-the-Counter Personal Property Tax Payments

Saline County citizens now have the ability to pay their personal property and real estate taxes with a credit card at the Saline County Collector's office.



Auto Financial Group, Credit Union Services Inc. Sign Marketing Deal

Houston-based online finance company Auto Financial Group on Monday signed a marketing agreement with Credit Union Services Inc.



Fidelity National Credit Services Offers Dedicated Rent to Own And Payday Advance Collection Service

Our collectors come from the Rent to Own and Payday Advance industries where their success as operators insures their success as collection agents. Dan Jobrack, National Director of Business Development, Fidelity National Credit Services, Ltd.



BofA unit prices $300M offering

Bank of America Corp.'s FIA Card Services division has priced an offering of $300 million in credit card asset-backed notes from the BA Credit Card Trust.



Morgan Stanley to acquire Saxon Capital

Davis Polk & Wardwell is advising Morgan Stanley on its acquisition of Saxon Capital, Inc. Morgan Stanley is a New York-based global financial services firm and a market leader in securities, investment management and credit services.



Membership Has Its Benefits

American Express is credited with the phrase "membership has its privileges."



Retail credit cards: Know all the facts before signing up

I always get offers to sign up for retail credit cards to get 10 percent off the purchase. What should I be aware of when signing up for those?



Builders Energy Services Raises Credit Facilities To C$100 Mln From C$85 Mln - Quick Facts

Friday, Builders Energy Services Trust (BET-U.To) stated that it has increased its credit facilities from C$85 million to C$100 million



Banks in race to hook more customers before National Credit Act deadline

The Ombudsman for Banking Services (OBS) is experiencing a slight upsurge of complaints from consumers who have run into financial trouble after accepting unsolicited offers of credit from one or more of the major banks



Police express concern over credit card scam artists

City police are warning residents not to fall for an ongoing scam in which telephone solicitors are taking money to repair bad credit reports


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