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Credit Research News - October, 2007















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

Credit Research News - October, 2007



Fair Isaac Shares Spike Higher

Shares of Fair Isaac (FIC - Cramer's Take - Stockpickr - Rating) spiked Wednesday, following a solid earnings report Tuesday.



Sector Snap: Credit Cards

Shares of most credit card companies rose in Wednesday trading after MasterCard Inc., the world's No. 2 credit card processor



Reverse mortgages: one option for future security

If you’re a senior 62 years or better who owns a home, even if not completely paid for, you may be able to get some of the value of your home paid to you in a reverse mortgage.



LandAmerica Reports Third Quarter 2007 Results

LandAmerica Financial Group, Inc. , Fortune magazine's number one Most Admired Company in the mortgage services industry, announces operating results for the third quarter



Cypress Software and Asch Advisory Services Create Alliance to Develop Scorecards for Cypress’

Cypress Software Systems, LP and Asch Advisory Services LLC of Petaluma, Calif. have created an alliance to develop small business credit origination scoring systems



STI Enters Into Sales Agreement With China Corporate Credit Assurance Co. Ltd. to Purchase SuperLink

STI Targeting Completion of Definitive Agreement On Hunchun BaoLi Communications Joint Venture by 2007 Year End



Hartford Financial misplaces back-up tapes with personal data on policy holders

The Hartford Financial Services Group Inc. has notified about 237,000 policy holders of a potential compromise of their personal data.



Former GM Credit Union Finds New Life by Extending Services to the People of Sandy Springs

Fidelity Federal Credit Union is proud to announce its relocation to Sandy Springs and change in Federal charter to extend its services to the people of Sandy Springs



Credit unions undergo changes

Mazuma Credit Union was part of a growing industry when it began offering financial services to federal employees in 1948.



Aimbridge Launches Loan Generation Services

Lending Expert Helps Credit Unions Better Penetrate Member Base, Diminish Chance for Dealer to Send Loans to Other Lenders



State bill regulates on-campus lending tactics

Banks, credit card companies denied gift-giving to students



Key Energy Announces Share Repurchase Program and New Debt Financing Plan

Key Energy Services, Inc. announced that its Board of Directors has authorized a share repurchase program of up to $300 million.



Credit Unions Target New Groups, Continue to Make Inroads

New Jersey has historically been a fertile location for credit unions, and the tradition continues today, according to Christian Abeel



Didn't pay heat bill? It'll go on your record

In January, CenterPoint Energy will share delinquency data with big credit agencies, which could affect loans and interest rates.



Widow’s request sparks early bill

Sorry about your recent loss — now pay up.



LabCorp takes out $1B credit line

LabCorp has taken out a $1 billion, five-year credit line to refinance its debt, pay down expenses and finance future acquisitions.



ARINC's corporate credit rating cut to 'B' on acquisition by Carlyle Group - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it has lowered its ratings on ARINC Inc, including lowering the corporate credit rating to 'B' from 'BB'



S&P to downgrade Synovus' credit

Standard & Poor's (NYSE:MHP) Rating Services plans to slash its rating on Synovus (NYSE:SNV) Financial Corp.'s credit once the bank spins off its payment processing business



SCE&G settlement agreement favourable for credit, but ratings unaffected - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said the South Carolina Electric & Gas Co's (OTCBB:SCEGN) settlement agreement with the South Carolina Office of Regulatory Staff



Self-Service Shared Branching Becomes Reality: NCR and Ensenta Partner to Offer the First Kiosk

NCR Corporation (NYSE:NCR) today announced an enhanced technology platform which delivers a first-of-its-kind opportunity for the nation’s credit unions.



Santa Fe Chamber hosts credit seminar

Since the status of an individual's personal credit can affect his or her ability to start a business, the Santa Fe Chamber of Commerce is sponsoring a seminar on personal credit on Nov. 6



Wachovia Unveils Single Sign-On for Wholesale Services, Advancing Vision of Globally Integrated

Wachovia today unveiled a single sign-on capability for Wachovia Connection, its online global treasury management portal.



Equifax Details Credit Freeze Plans

Big three credit reporting bureau Equifax on Wednesday detailed its plan to offer certain consumers the ability to freeze their credit files



Alliance Data providing credit card services to Alon

Alliance Data Systems Corp. said Thursday it has inked a deal to provide Alon USA's Fina-branded stores with a co-branded credit card program



Moody’s feels the pinch as global market turmoil takes its toll

The parent company of Moody’s Investor Services, the ratings agency, reported a fall of almost 13 per cent in third-quarter net income yesterday



S&P: AK Steel Credit Outlook Positive

S&P Says AK Steel's Credit Outlook Is Positive Based on Better Finances, Healthy Demand



2nd UPDATE: S&P, Fitch Cut Credit Rating On Merrill Lynch

Standard & Poor's and Fitch Ratings cut their credit rating on Merrill Lynch & Co. (MER) following the investment bank's dour third-quarter results



Leaner pork meets consumer demands

Consumers over the years requested healthier pork products and producers responded.



Standard & Poor's Releases Enhanced Global Fixed Income Research, Delivering One Stop Source

Through RatingsDirect(R), GFIR now combines credit and economic research with forward-looking analysis, new content and functionality



ClearStar.net Partners with SharperLending LLC to Deliver Broad Spectrum of Credit Data Services

ClearStar.net and SharpenLending LLC form partnership to provide members of the ClearStar.net distribution network with real time gateway access to data from all three credit bureaus in standard MISMO XML format.



CCS assigned 'B+' long-term corporate credit rating with stable outlook - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it assigned its 'B+' long-term corporate credit rating with a stable outlook to Canadian oilfield services



American Express Sets Aside More for Losses

Strong spending by consumers and businesses helped American Express Co. post a 10% jump in third-quarter profit, but the credit-card company said the provisions it set aside for future losses



Verizon Offers Consolidated Billing Errors

These days all the telecom and cable companies are offering consolidated bills for their "triple play" combo of phone, video, and Internet services.



3rd UPDATE: American Express 3Q Net Up On Card Spending

In another sign of spreading credit problems, American Express Co. (AXP) said the provisions it set aside for future losses in its U.S. card business



CNLBancshares, Inc. Expands Services to Include Private Banking

CNLBancshares, Inc., the holding company for Orlando-based CNLBank, today announced it has expanded its services to include private banking



Stocks, oil and dollar sink in unison, but Wall Street crawls back

European and Asian stock prices fell sharply Monday - along with the dollar and oil prices - amid concerns that weakness in the U.S. economy spelled trouble for global growth.



Stocks, oil and dollar sink in unison, but Wall Street crawls back

European and Asian stock prices fell sharply Monday - along with the dollar and oil prices - amid concerns that weakness in the U.S. economy spelled trouble for global growth.



CTA worker charged with taking riders' credit card info

A CTA customer service representative allegedly stole credit card information from transit customers, and the agency is moving to fire her



Get Ready for the Big Squeeze

THE big banks that reported earnings last week made clear that the days of fat profits are over.



Spirit Air goes from Michigan to worse

Dear Travel Doctor: I had to cancel a Spirit Airlines ticket because my husband got seriously ill. I tried and tried to contact Spirit the day before my flight



The Role of Credit in the Cable vs. Telco Battle

While it appears that telecom and cable companies will generally have access to cash, the cost of credit will be a concern. Standard & Poor's will monitor adequacy of liquidity at each company and, especially for weaker credits



A Hacker's Holiday Shopping List

Bad guys looking for shiny new botnets, Trojans, rootkits, and spyware this holiday season have plenty to choose from.



S&P Raises Petrohawk Credit Rating

Standard & Poor's Ratings Services on Friday raised the corporate credit rating of independent oil and gas explorer Petrohawk Energy Corp. to "B+" from "B."



Fidelity Federal Credit Union Announces Its Extension of Services to the People of Sandy Springs

Fidelity Federal Credit Union is proud to announce its relocation to Sandy Springs and change in Federal charter to extend its services



Credit Union Tax Services Announces Partnership with Jackson Hewitt to Offer Discounted Tax Preparat

Credit Union Tax Services today announced that it is partnering with Jackson Hewitt Tax Service Inc. (NYSE: JTX) to offer discounted, professional tax services to the members of over 1,000 credit unions



Revolution Money To Launch Payment, Credit-Card Service

Ted Leonis, chairman of Revolution Money, told the Web 2.0 Summit that the new service would combine online payments with a less expensive credit card interchange platform.



PNC Financial 3Q profit tops estimates

PNC Financial Services Group Inc.'s (NYSE:PNC PRD) (NYSE:PNC PRC) (NYSE:PNC) profit sank in the third quarter but topped expectations



Alliance Data Announces Record Third Quarter Results

Alliance Data Systems Corporation , a leading provider of loyalty and marketing solutions derived from transaction-rich data,



Apria's corporate credit rating affirmed at 'BB+' post buyout announcement - S&P

Standard & Poor's (NYSE:MHP) Ratings Services affirmed the 'BB+' corporate credit and other ratings on Apria Healthcare Group Inc



First Cash Reports Third Quarter Net Income Increase of 31%

First Cash Financial Services, Inc. (Nasdaq:FCFS) today announced record-setting revenue, net income and earnings per share for the three months



Equifax Helps Lenders Tap into Emerging Credit Market with New Direct Marketing Solution

Equifax Inc. today announced the launch of a new direct marketing prospecting tool to help lenders target consumers in today's emerging credit market.



Bank of America Re-Launches BankAmericard(R) Credit Card

The first national bank credit card brand returns to usher in a new era of rewards and services for its customers



Carpenter Technology's corporate credit rating raised to 'BBB' - S&P

Standard & Poor's Ratings Services raised its corporate credit and senior unsecured ratings on specialty metals company Carpenter Technology Corp



Choose credit cards by how you use them

Americans have a complicated relationship with credit cards. Most of us won't leave home without them.



Pepco Energy Services Receives the First Clean Energy Tax Credit from the Maryland Energy

Eastern Landfill Gas, LLC, a renewable energy project designed, built and operated by Pepco Energy Services, has been awarded a $770,661 tax credit



Apria to buy home infusion services firm for $350 mln

Apria Healthcare Group Inc (AHG.N: Quote, Profile, Research) said it agreed to buy Coram Inc



Kohl's Department Stores to Leverage VantageScore(SM) for Automated Risk Decisions

Experian(R), a global information services provider, today announced that Kohl's, one of the nation's premiere department store retailers



U.S. banks start fund to protect credit market

Three of the largest U.S. banks, working together at the behest of the Treasury Department, confirmed Monday that they were creating a large fund



5 Tips For Hiring A Professional Debt Settlement Company!

If you’re considering using debt settlement to help you pay off your credit cards, here are 5 tips to help you decide on a company to help you.



Cash-strapped Americans raiding their 401(k)s

Despite potential tax and investment problems, more investors have been borrowing from their 401(k) plans or taking hardship withdrawals



Members Community Credit Union offers competitive rates, high level of service and convenience

Members Community Credit Union’s new branch offers a peek from the outside of what the financial institution is about on the inside



October Roundup

After several weeks in a row in which mortgage rates inched downward, loan costs skewed a bit higher as October drew to a close



New rules for credit cards would benefit their holders

Can’t understand the small print? Mystified why your “fixed” interest rate jumped with little warning?



Banks And U.S. Treasury Discuss $100 Billion Support Fund

Leading U.S. banks have reportedly been meeting with U.S. Treasury officials about creating an up-to-$100-billion fund to stave off the danger



US Credit Card Mail Offers Expected to Reach 5.3 Billion in 2007

US households will receive approximately 5.3 billion offers for new credit cards during 2007 according to Mail Monitor



W-H Energy Services "outperform," target price reduced

Analysts at Credit Suisse maintain their "outperform" rating on W-H Energy Services (WH4.ETR), while reducing their estimates for the company



Downey Financial's Q3 loss not to affect rating, outlook - S&P

Standard & Poor's Ratings Services said Downey Financial Corp's rating and outlook will not be affected by the California bank



Mass. health plan review: "mixed"

Feedback so far on the effectiveness of the new Massachusetts health care reform law is "mixed", according to a new report



Hackers Break Into Commerce Bank Computers

Computer hackers broke into Commerce Bank computers and stole account information from at least 20 customers, officials said Wednesday.



Putting a freeze on your credit

Soon every state will provide protection against identity theft. Gerri Willis tells whether you should take up the offer.



Neiman Marcus corporate credit rating raised to 'BB-' - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it has raised Neiman Marcus Group Inc's corporate credit rating to 'BB-' from 'B+'



Stanley Announces Amended and Restated Senior Revolving Credit and Term Loan Facility

Stanley, Inc. , a leading provider of systems integration and professional services to the U.S. federal government, today announced that it has signed an amendment



IMM and fiVision partner for credit union service

Integrated Media Management, an output management and document automation technology specialist, has partnered with online enrollment



Credit Services Incorporated in Hancock can help ...

Credit Services Incorporated has quite a history in the Upper Peninsula.



J.D. Power and Associates Reports: American Express Ranks Highest in Credit Card Satisfaction

American Express ranks highest among credit card issuers in overall customer satisfaction, according to the J.D. Power and Associates 2007



To freeze or not to freeze your credit

Given the choice between installing a burglar alarm or an impenetrable deadbolt, most of us would choose the deadbolt.



‘Union’ credit card offer is misleading

Q: Is there a credit card services company called Union Workers Credit Services?



Mexican banks' ratings unaffected by sovereign upgrade - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said its counterparty credit ratings on Mexican banks will be unaffected



Macy's Customers Get New Citicards--Like It Or Not

Macy's shoppers who had store credit card accounts are reporting an unwelcome surprise in their mailboxes--their cards



UPDATE 1-MOVES-S&P Fund Services, DJ Merchant Banking Partners

The following financial services industry appointments were announced on Monday.



Plunkett Furniture To Offer Consumer Credit Card

GE Money and Plunkett Home Furnishings announced a new five-year relationship to provide consumer financing services.



You've got nailed: E-mail scams reel in victims

My name is I. Cheatum and I am the assistant branch manager of Crooked Credit Services.



Unexpected cards irk customers

Citigroup Inc. recently sent Alan E. Gold a credit card he neither asked for nor wanted.



Wealth management comes to financial services firms

It's hard to talk to a stockbroker, banker or accountant these days without the term "wealth management" creeping into the conversation



Securing Very Important Data: Your Own

AS long as we are willing to relinquish some personal data, Web applications have long allowed us to create virtual



Variable mortgages more popular

The number of homeowners opting for variable rate mortgages has risen for the third month in a row



Natco Credit Union Selects SEDONA as Provider for MRM Application and Services

SEDONA(R) Corporation (www.sedonacorp.com), a leading provider of Customer and Member Relationship Management (CRM/MRM)



Live Nation cut to 'B' on concerns of high lease-adjusted leverage - S&P

Standard & Poor's (NYSE:MHP) Rating Services said it has lowered its corporate credit rating on California-based Live Nation Inc



Freezes in credit files gain traction

Credit reporting firm Experian said Thursday it will allow consumers to freeze their credit reports starting Nov. 1.



Local business outlook remains strong, survey says

Despite a credit crunch that has made borrowing tougher and a sluggish housing sector threatening to push the U.S. economy into a recession



Meals in the fields

It's not often a farm family gets an opportunity to stop and enjoy a mouth-watering midday meal - especially during harvest.



Security Bank Corporation Addresses Credit Quality Issues, Looks to Increase Provision for Loan Loss

Security Bank Corporation (Nasdaq:SBKC) today reported that due to rapid and significant declines in residential real estate market values



VW Credit, Inc. Gears Up Its Customer Service with InStranet’s Multi-Channel Knowledge Application

In an Effort to Provide Exceptional Service, VW Credit, Inc., Implements InStranet’s CCiL Knowledge Application in 10 Weeks to Deliver Accurate and Concise Business Information to Their Customer Care Representatives



AT&T Wins Network Services Contract with Fairwinds Credit Union

AT&T Inc. (NYSE:T) has announced a new contract to provide network services to Fairwinds Credit Union



Second Credit Bureau Offers File Freeze

Consumer credit reporting bureau Experian today announced that it would allow consumers in all 50 states to freeze their credit histories



Fertilizer Sales Representatives Reluctant to Give Prices

Farmers tell Wallaces Farmer that it’s hard to get price quotes here in early fall from their suppliers for next year’s crop inputs



Credit Card Debt Consolidation Services – Services That Set You Free

Credit card debt consolidation services are a boon for people who find themselves constantly trying to keep up with the piling bills and debt.



S&P Boosts Jo-Ann Stores Ratings Outlook

Standard & Poor's Rating Services said Wednesday it upgraded its ratings outlook on Jo-Ann Stores Inc. to "Positive" from "Stable"



Dean Foods cut to 'BB-' after Q3, FY profit warning - S&P

Standard & Poor's (NYSE:MHP) Ratings Services lowered its ratings on Dean Foods (NYSE:DF) Co and its wholly owned unit Dean Holding Co



Parker Debt Ratings Rise but Stay "Junk"

Standard & Poor's Ratings Services lifted its debt ratings of Parker Drilling Co. on Tuesday, citing improved results, but maintained the ratings within the "junk" category.



Morgan Stanley scales back mortgage business

Morgan Stanley unveiled plans Tuesday to scale back its residential mortgage business, including cutting 600 jobs, as the investment bank responds to recent turmoil in the real-estate and home-loan markets.



TEXT-S&P report on oilfield & contract drilling

Despite the ongoing credit squeeze the international oilfield service and contract drilling industry will continue to experience a favorable credit environment



Arcadia Resources, Inc. Obtains $5 Million Revolving Line of Credit

Arcadia Resources, Inc. (AMEX: KAD), an innovator in consumer health care services, today announced that its wholly-owned subsidiary, Arcadia Products, Inc.



Credit-Insurance Link Debated

The practice of insurers basing auto insurance premiums on a customer's credit rating was questioned at a House hearing Tuesday



Citigroup's a Champ

Citigroup's (NYSE: C) stock experienced a "Through the Looking Glass" moment yesterday, when the bank's share price rose sharply on bad news



AGL Resources Acquires Compass Energy Services, Inc.

AGL Resources today announced the acquisition of Compass Energy Services, Inc., a Richmond- based commercial and industrial energy services company.



4th UPDATE: Citi Sees 60% Drop In 3Q Profits On Credit Hits

Citigroup Inc. (C) warned Monday that the souring of the giddy credit markets that prevailed early this year will cost it $5.9 billion



S&P: Some Consumer Companies Vulnerable

According to S&P's "Industry Credit Outlook," for consumer products, within the sector, about 69 percent of rated companies



Credit crunch hits small businesses

Entrepreneurs looking to tap home equity for business capital are facing increased scrutiny from mortgage lenders.



New protective payday loan law now in effect

A new Defense Department regulation intended to shield military personnel from excessive interest and fees and other predatory lending practices


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