Credit Research News - March, 2007

Yucaipa man in lawsuit over Wells Fargo fees

A Yucaipa college student could become the point man in a national class-action lawsuit after stumbling into what his attorney calls a "hidden profit center" in 2002 when he applied for a Wells Fargo credit card, according to a federal lawsuit filed last year.

Informa Research Services Advises: Don’t Be Fooled by Low-interest Rate Credit Cards

Watch Out for Those Hidden Fees Which Can Escalate Your Monthly Payments

Robert C. Blatter Joins Pinnacle Bank as Chief Credit Officer

Pinnacle Bank (OTCBB:PBNK) announced today that Robert C. Blatter has joined the bank as Executive Vice President and Chief Credit Officer

GE Antares Capital acts as administrative agent in senior secured credit facility

GE Antares today announced it served as administrative agent for a senior secured credit facility to support the acquisition of Rotex Global LLC, by Windjammer Capital Investors

Culligan Announces Potential $900 Million Recapitalization

Culligan Holding S.ar.L., ("Culligan"), a wholly-owned subsidiary of Culligan Ltd., a leading global provider of water treatment products and services for household and commercial applications...

S&P Upgrades Rotech Healthcare Credit

Standard & Poor's Ratings Services said Thursday it raised the corporate credit rating on Rotech Healthcare Inc., which provides home medical equipment ...

FCS awards four college scholarships

Four area high school seniors have each been awarded a $500 scholarship from Farm Credit Services of North Dakota.

GE Corporate Lending Provides $75 Million Credit Facility to Tweeter

GE Commercial Finance – Corporate Lending today announced it has provided a $75 million asset-based credit facility to Tweeter Home Entertainment Group, Inc.

Westerly credit union's earnings grow 6.9%

Westerly Community Credit Union (www.westerlyccu.com) fared well in 2006, as net earnings increased 6.9 percent to $826,142 from $772,727 in 2005, the credit union announced today.

FirstClose(TM) Announces Credit Insurance Markets as Latest Reseller Partner

FirstClose, a service of First Lenders Data, Inc. (FLDI), an Austin, Texas-based provider of bundled mortgage settlement services, announced today that it has formed a strategic partnership with Credit Insurance Markets ...

Subprime mortgage meltdown: What it means to you

Hearings by the Senate Banking Committee and by the House Financial Services Committee into the much-publicized troubles in the U.S. mortgage market have called attention to a problem that could ultimately affect a wide swath of consumers. Here's what you need to know:

Bethpage Federal Credit Union Selects Gila Group for Collections Services

Gila Corporation, through its Gila Group business unit, has signed a collections outsourcing agreement with Bethpage Federal Credit Union. Gila Group will handle the collection of all delinquent auto loan accounts...

Equifax Mortgage Solutions Continues Growth Path With New Acquisitions and Expanded Product Offering

Equifax Mortgage Solutions (EMS) business has achieved significant growth milestones this year and continues to gain momentum, as the company demonstrated at the MBA National Technology in Mortgage Banking Conference & Expo.

Lafayette FCU Reinstates Accounts of Activist

Lafayette Federal Credit Union has reinstated ATM and checking account services...

Thermo Credit, LLC Enters into a Funding Arrangement with Avvid Technologies, Inc.

Thermo Credit, LLC, a receivables funding company that focuses exclusively on opportunities in the telecommunications industry, announced today that it has entered into an agreement with Avvid Technologies, Inc.

S&P Affirms DRS Credit Rating

Standard & Poor's Rating Services on Monday affirmed DRS Technologies Inc.'s non-investment grade corporate credit rating, citing the defense contractor's improved financial profile.

Credit Suisse USA ratings, outlooks affirmed by S&P, Moody's and Fitch UPDATE

Standard & Poor's Ratings Services affirmed Credit Suisse USA Inc's long and short-term counterparty credit ratings at 'AA-/A-1+', with a stable outlook.

Leap Announces Participation in the Credit Suisse Fourth Annual Wireless Investor Forum

Leap Wireless International, Inc. (NASDAQ:LEAP), a leading provider of innovative and value-driven wireless communications services, today announced the Company’s participation in the Credit Suisse Fourth Annual Wireless Investor Forum at CTIA Wireless 2007 in Orlando, Fla., March 26 - 29, 2007.

PrivacyMatters.com Refreshes Leading Online Consumer Destination for Credit Reports

PrivacyMatters.com announces website re-launch with more educational features and top of the line products - Privacy Matters 1-2-3 and Privacy Matters Identity.

CreditXpert Inc. Releases Major Software Upgrade

CBCInnovis first to offer customers the unprecedented speed, power and versatility of the updated CreditXpert(R)

Time to spruce up your financial picture

Spring has sprung, and that means it’s time for a "financial cleaning."

Credit Card Debt Consolidation Services - A Prudent Step Towards Debt Relief

Credit card debt consolidation services work with an objective to reduce your credit card debt payments ...

Discover to go its own way

Morgan Stanley's credit card company plans to separate itself from the company and list on the NYSE.

Discover files to spin off from parent Morgan Stanley

Morgan Stanley disclosed more details of its planned spin off of Discover Financial Services, but failed to answer the most important question before investors: how much the deal will raise.

Colangelo new VP at Northeast Credit

Northeast Credit Union (NECU) recently announced that Paul J. Colangelo has joined the organization as its new vice president - human resources.

Veterinary clinic reports credit card stolen

A veterinary clinic in an unincorporated area of Visalia reported more than $10,000 in charges on a gas card Friday, the Tulare County Sheriff’s Department reported.

AgCountry helps fight hunger

An $8,000 boost from AgCountry Farm Credit Services will fight hunger in southeastern North Dakota and west central Minnesota.

SC gains upgrade in credit rating

The state's credit rating has improved.

Shares of Online Ad Services Fall After Google Announces Expansion of Pay-Per-Action Test

Investors drove shares of online marketing services provider ValueClick Inc. lower Friday afternoon, in the wake of Google's announcement earlier this week that it will expand a test of its pay-per-action online ad service.

Author criticizes financial-services industry

Big banks that battled to keep Wal-Mart from forming its own bank have no moral high ground to stand on, suggests documentary filmmaker James D. Scurlock in his provocative new book, "Maxed Out."

Tax credit, help available

As this year's federal income tax filing deadline — April 17 — looms ever closer, the Internal Revenue Service wants all tax filers to be sure to take every appropriate credit.

Green Plains Renewable Energy Closes $50 Million in Loans to Build Ethanol Plant

Green Plains Renewable Energy Inc. said Friday it has closed $50 million in loans that will be used to complete the construction of an ethanol plant.

S&P raises warning flag on Media General credit rating

The bond-rating agency Standard & Poor's Ratings Services said it had placed Media General Inc.'s BBB- corporate credit rating on CreditWatch with negative implications.

Farm Credit Wisconsin donates to state 4-H Leadership Council

Farm Credit Wisconsin has contributed $10,000 toward the Wisconsin 4-H Youth Leadership Council and other 4-H youth leadership programs.

Other Shoe Drops on Canadian Advance-Fee Credit Card Fraudsters

At the request of the Federal Trade Commission, a federal district court in Illinois has entered an order for permanent injunction, final judgment, and final default judgment against several Canadian cross-border fraudsters, permanently banning their deceptive telemarketing pitches and requiring them to pay $8.1 million

Newtek Business Services Acquires Controlling Interest In CDS

Business Services, Inc. (http://www.newtekbusinessservices.com/), a provider of business services and financial products to the small business market under the Newtek(TM) brand, today announced that it has acquired a majority economic...

S&P to review Kohl's credit rating

Standard & Poor's Ratings Services said Wednesday it will review its credit rating on Kohl's Corp. after the department store chain's fourth-quarter results topped S&P's expectations.

Utah credit unions promote, partner with Co-Op

The Utah League of Credit Unions has signed a deal with Co-Op Financial Services to market and promote Co-Op's ATM network and services to 112 Utah credit unions.

Farm Credit backs local 4-H

Farm Credit Wisconsin is supporting youth leaders in the state by once again contributing $10,000 towards the Wisconsin 4-H Youth Leadership Council and other 4-H youth leadership programs.

Continental Federal Credit Union Board of Directors Rejects Takeover Proposal by Wings Financial

The Board of Directors of Continental Federal Credit Union (Continental FCU) today voted unanimously to reject the most recent proposal from Wings Financial Federal Credit Union (Wings Financial)

Credit analysts: NJ hospitals are weak and more may have to close

New Jersey's hospitals are generally worse off financially than those in other states, and another dozen hospitals here may end up closing as a result, according to a report from a major credit rating agency.

Target Logistics, Inc. Secures $20 Million Line of Credit from Wells Fargo

Target Logistics, Inc. (Amex: TLG), a domestic and international freight forwarder and logistics provider, today announced that the company has secured a new $20M credit facility from Wells Fargo Bank National Association (Wells Fargo) for a term of three-years, increasing the company’s available credit to $20 million.

Author criticizes financial services

Big banks battling to keep Wal-Mart from forming its own bank have no moral high ground to stand on, suggests documentary filmmaker James D. Scurlock in his provocative new book, Maxed Out.

FCUL Service Group, Inc. Partners With SecureWorks to Keep Florida Credit Unions' IT Systems Safe

The FCUL Service Group has partnered with SecureWorks, the leading Managed Security Services Provider, to offer SecureWorks' information security services to Florida credit unions.

Credit Card Climate Change May Come Too Late

Time to Get Control of What You Owe

Britton joins Hefner, Eberspacher & Tapella

Charleston attorney Sean McCoy Britton recently joined the Mattoon law firm of Hefner, Eberspacher & Tapella.

Prairie Voice Services Announces Key Role in Industry’s First Completely Virtual, Automated Collect

Prairie Voice Services, a leading specialist in interactive voice services and Internet messaging, today announced that the company is playing a key role as the automated messaging provider for Bridgeforce’s new Collections Marketing Center (CMC) project.

Tech File Handy services for tax time

BEST BILL-PAY SITES KEEP THOROUGH RECORDS

Survey Data Reveal Stunning Lack of Awareness of Retirement "Saver's Credit''

According to recent survey data, very few American adults are aware of an existing tax credit designed to help low- to middle-income Americans build their retirement nest eggs.

H&E Equipment Services "outperform," estimates reduced

Analyst J Cook of Credit Suisse reiterates his "outperform" rating on H&E Equipment Services Inc (ticker: HEES), while reducing his estimates for the company. The target price is set to $35.

Letters for Sunday: Credit card rates, morning darkness

Re: "Credit card firms pushed to change," Monday Business.

Strategies that get results when complaining about goods and services

The reception on your new high-definition TV is fuzzy. Your bank lets you make a cash withdrawal with your ATM card, then slaps an overdraft fee on your next statement. The book you ordered off an Internet site never arrived.

First Data buying Wells Fargo cash-services unit

First Data Corp. said Friday it will buy the Instant Cash Services business from Wells Fargo Bank.

Free Tax Services

The Barren River Asset Building Coalition has introduced a new initiative that will provide low to moderate income taxpayers with free tax preparation services.

Credit rating drops a level

FIJI's long-term foreign currency credit rating fell one level from B+ to B, according to the Standard & Poor's Ratings Services, one of the top three credit rating agencies in the world.

Truston's MyTruston Service Praised for Ease of Use and Helping Victims Recover from ID Theft

Truston, a provider of identify theft prevention and recovery services, today announced MyTruston received a 4 out of 5 rating by PC Magazine

Credit Repair Services Not A Sin According To ChristiaNet Poll

Credit repair services such as consumer counseling, debt management, good fico scores and restoration programs are some of the financial articles at http://www.christianet.com/creditrepair/.

Crop Insurance Premiums Going Up

Farmers have to spend a lot of money before they can ever grow a single crop. Seed, fertilizer, and fuel are just some of those costs.

Lincoln Educational Services Corporation Updates Timing of Presentation at Credit Suisse Conference

Lincoln Educational Services Corporation (Nasdaq: LINC) ("Lincoln") today updated the timing of its presentation at the Credit Suisse 9th Annual Global Services Growth Conference in Phoenix.

Utility credit rating drops

Ameren's status falls to 'junk'

Counting on Credit

Furniture retailers in other parts of the country might not feel too much sympathy for dealers in the lucrative Florida market, but sometimes there’s trouble even in paradise, especially in the past couple of years.

Regents approve deal between UI, credit union

There will likely be a new bank branch on University of Iowa campus and UI faculty, staff and student ID cards can now be linked to that bank for use as a debit card at that bank’s locations and ATMs.

Bright Horizons Family Solutions to Present at the Credit Suisse Global Services Conference

Bright Horizons Family Solutions (NASDAQ: BFAM) will present a company overview at the Credit Suisse Global Services Conference today

Discover Financial Services Introduces Discover® MotivaSM Card

Industry’s First Credit Card to Give Cash Rewards for Good Credit Management

Perot Systems to Present at 9th Annual Credit Suisse Global Services Growth Conference

Perot Systems Corporation today announced that it will present at the 9th Annual Credit Suisse Global Services Growth Conference on Wednesday, March 14, 2007 at 11:00 am EDT.

Fidelity National Information Services, Inc. to Present at Credit Suisse Global Services Conference

Fidelity National Information Services, Inc. announced today that President and Chief Executive Officer Lee A. Kennedy is scheduled to speak at the Credit Suisse Ninth Annual Global Services Growth Conference in Phoenix

Old Republic Credit Services Complements Suite of CreditXpert(TM) Services

Old Republic Credit Services customers can now access the most advanced credit management tools available in the marketplace

Perot Systems to Present at 9th Annual Credit Suisse Global Services Growth Conference

Perot Systems Corporation (NYSE: PER) today announced that it will present at the 9th Annual Credit Suisse Global Services Growth Conference

Old Republic Credit Services Complements Suite of CreditXpert(TM) Services

Old Republic Credit Services customers can now access the most advanced credit management tools available in the marketplace

BSG launches Advanced Payment Gateway services

BSG Clearing Solutions (BSG), the leading provider of clearing and settlement solutions for telecom and online merchants, today announced the availability of its Advanced Payment Gateway - a combination of three core integrated services: credit card payment processing, Bill2Phone alternative payments and integrated risk management services.

Moody’s Corporation to Present at Credit Suisse Conference on March 12, 2007 in Arizona

Credit Suisse 9th Annual Global Services Conference

Credit card companies just don't play fair

My son had a problem recently with a classmate who was acting aggressively when they played tag. Whenever it was this little boy's turn to chase the kids, he always ran after my son to tag him out first.

Local business briefs: FCStone to go public

FCStone Group Inc. is planning an initial stock offering next week, according to investment research firm Renaissance Capital.

Immigrant money attracts banks

Hispanic and Asian population growth and increased buying power make these groups impossible to ignore, companies say.

Credit union adds business services

Cornerstone Community Financial is an Auburn Hills-based credit union that serves more than 16,000 members in Michigan and Ohio.

Credit card industry needs congressional oversight for fairness

U.S. Sen. Carl Levin of Michigan, chairman of the subcommittee looking into credit card rate and fee manipulation by major banks, has threatened to introduce legislation that would ban certain sneaky contract changes...

CB Richard Ellis Group, Inc. to Present at Credit Suisse Global Services Conference

CB Richard Ellis Group, Inc. (NYSE:CBG) announced today that the Company’s Chief Financial Officer, Kenneth Kay, will present at the Credit Suisse Global Services Conference in Phoenix, Arizona, on Tuesday, March 13th, at 9:00 a.m. Mountain Time.

Law To Ban Banking Services For Illegal Immigrants

Responding to a U.S. banking trend of issuing credit cards and other services to illegal immigrants, a Tennessee lawmaker has introduced legislation that would ban the practice.

Grubb & Ellis Company to Present at Credit Suisse Global Services Growth Conference

Grubb & Ellis Company (NYSE: GBE), a leading provider of integrated real estate services, today announced that it will make a presentation to the investment community at the Credit Suisse Global Services Growth Conference

Credit card issuers apologize, promise to change

In Senate committee hearings Wednesday, the chief executive officer of Chase Credit Card Services apologized for tripling a customer's debt up to $10,700 by piling on punitive fees 47 times.

Valassis to Present at the Credit Suisse Global Services Growth Conference

Valassis (NYSE: VCI), announced today that Alan F. Schultz, Valassis Chairman, President, and CEO, will present at the Credit Suisse Global Services Growth Conference

SVB Silicon Valley Bank Increases Wireless Matrix Credit Facility to $8 Million

Wireless Matrix Corporation (TSX: WRX) announced that SVB Silicon Valley Bank has extended to the Corporation a $8,000,000 credit facility.

Sykes Enterprises, Incorporated to Present At the Credit Suisse Global Services Growth Conference

Sykes Enterprises, Incorporated (Nasdaq:SYKE) ("SYKES" or the "Company"), a global leader in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena

TeleTech to Present at the Credit Suisse First Boston Global Services Growth Conference

TeleTech Holdings, Inc. (Nasdaq: TTEC), one of the largest global business process outsourcing (BPO) providers with a customer management focus, today announced that it will be presenting at the Credit...

US Credit Cards Promise Clear, Simple Language

Several bank credit card companies, responding to growing pressure from U.S. lawmakers, said on Wednesday they are working to do a better job of explaining fees and charges to consumers.

FTI Consulting to Present at Credit Suisse's Ninth Annual Global Services Growth Conference

FTI Consulting, Inc. , the leading global consulting firm to organizations confronting the critical legal, financial and reputational issues that shape their futures.........

Badgerland Farm pays out to members

Badgerland Farm Credit Services, a leading cooperative provider of credit and financial services to agriculture and rural Wisconsin, recently paid more than $10.3 million in cash patronage to its members in mid-February.

CTCE Federal Credit Union Selects Identity Theft Protection Services Through Lending Solutions

Lending Solutions Inc., a provider of lending center services and consulting programs for financial institutions across North America, announced CTCE Federal Credit Union (Reading, Pa.) signed on for identity theft protection services for its members through Lending Solutions and its strategic Chicago-based partner RelyData.

Computer Sciences Corp. Offered 65 Percent Tax Credit to Relocate Facility to Ohio

Ohio is in competition with Kentucky and Washington, D.C. for this more than $6.6 million project, which is expected to create 350 jobs and retain 200 positions within the first three years of the project's initial operations.

Weight Watchers International, Inc. to Present at Credit Suisse Global Services Conference

Weight Watchers International, Inc. (NYSE: WTW) announced today that David Kirchhoff, President and Chief Executive Officer, and Ann Sardini, Chief Financial Officer, will present at the Credit Suisse 2007 Global Services Conference in Phoenix, Arizona.

Resources Global Professionals to Present at Credit Suisse's 9th Annual Global Services Conference

Resources Global Professionals, a leading multinational provider of professional services in areas such as finance and accounting and internal audit, and the operating subsidiary of Resources Connection, Inc. (Nasdaq: RECN)

NAVTEQ to Present at Credit Suisse Global Services Conference; Presentation Will Be Webcast Live

NAVTEQ , a leading global provider of digital map data for vehicle navigation and location-based solutions, announced today it will present at the Credit Suisse Global Services Growth Conference on March 13, 2007.

AP9 PrivacyMatters123 Offers Insights into the Value of a Good Credit Score

AP9 Privacy Matters 123 provides savings on unlimited credit reports and scores as well as credit monitoring services and more.

United Credit Education Services offers Online Presentation Webinars

United Credit Education Services is offering Online presentation webinars for people that are interested in learning more about the tremendous opportunity in the credit repair business.

Universal Technical Institute to Present at the Credit Suisse Annual Global Services Conference

Universal Technical Institute Inc. (NYSE: UTI) will be presenting at the Credit Suisse 9th Annual Global Services Growth Conference in Phoenix

First Advantage Corporation to Present at Credit Suisse 9th Annual Global Services Growth Conference

First Advantage Corporation (Nasdaq: FADV), a global risk mitigation and business solutions provider, today announced that Anand Nallathambi, president of First Advantage Corporation, will deliver a presentation at the Credit Suisse 9th Annual Global Services Growth Conference

AgHeritage Farm Credit Services to hold annual shareholders meeting

AgHeritage Farm Credit Services will hold its 2006 Annual Shareholders meeting at 2 p.m. on Tuesday, March 20 for the purpose of electing directors and reporting annual association results.

CHASE ANNOUNCES CLEAR AND SIMPLE INITIATIVE TO SIMPLIFY CREDIT CARD USE

Chase Expanding Its Progressive Roster of Customer-Friendly Tools

OMNI Completes $64.5 Million Senior Credit Facilities

OMNI ENERGY SERVICES CORP. (Nasdaq: OMNI) announced today the completion of the previously announced $64.5 million of new credit facilities ("Senior Credit Facilities") with LaSalle Business Credit, LLC ("LaSalle")

Flagship Credit Corporation Signs Agreement with Finance Express

Finance Express, the leading provider of web-based financial services and Dealer Management technology for independent auto dealerships, and Flagship Credit Corporation, a national, indirect auto financing provider focused on near-prime buyers...

TXU's Credit Rating Lowered

Standard & Poor's Ratings Services (S&P) has lowered its corporate credit rating on Dallas-based TXU Corp. to BB from BBB-.

LivePerson to Present at Credit Suisse Global Services Growth Conference

LivePerson, Inc. (Nasdaq: LPSN), a provider of online conversion solutions, today announced that CEO Robert LoCascio will present at the Credit Suisse Ninth Annual Global Services Growth Conference

Prime Alliance and FirstClose(TM) Introduce Prime Alliance Closing Services

Prime Alliance, through a strategic partnership with FirstClose(TM), a service of First Lenders Data, Inc., is introducing Prime Alliance Closing Services.

Tightening payday lending loopholes

Texas has laws prohibiting payday lenders from charging high interest rates. It just doesn't look that way.

Meager growth for credit unions

Six out of top ten reported lower net income for 2006.

Facts Consumers Should Know Before Considering Credit Counseling or Debt Consolidation

There is one topic which every time I write about it seems to generate some hate mail while at the same time spawning a flurry of wonderful praise from consumers.

New Web sites connect lenders and borrowers

It is a little like Internet dating, but the objective is money.

Credit peril

Congress casts wary eye at card issuers’ fees, practices as consumers struggle to keep up with mounting debts, higher fees

Free tax services help filers save wisely

Marion McKinney, 29, took two buses on a cold Saturday morning in late February to make her way to the Detroit Main Public Library to get her taxes done for free.

When more than memories are stolen

Con artists prey on victims of dementia and Alzheimer's in brutal financial scams that can leave the targets destitute

Credit Secrets: Tips That Can Save Your Credit Rating

When it comes to money management, what you don't know can really hurt you.

AgHeritage Farm Credit Services expands program

Since 2001, AgHeritage Farm Credit Services has offered scholarships to dependent children of AgHeritage FCS stockholder customers.

Regulators urge lender caution on risky mortgages

Federal bank regulators, worried about a surge in defaults on high-risk home mortgages, on Friday called on lenders to exercise caution in making subprime loans and strictly evaluate borrowers' ability to repay them.

Why Ordering Your Free Credit Reports Online is a Complete Joke

I have yet to find credit reports offered online that are easy to order and provide all the information you need.

Courses offered for late-semester credit

There is hope for students needing just a few more credit hours to graduate before summer.

Dean Foods Bonds Slammed by $2B Dividend

Dean Foods Co. bonds are falling and their the cost of insuring them against default rose Friday after the company announced a $2 billion cash dividend to shareholders, triggering a one-notch downgrade of the company's debt by Standard & Poor's Ratings Services.

Southeastern Banking Corporation Reports Fourth Quarter and Year-End 2006 Earnings

Southeastern Banking Corporation (OTC Bulletin Board: SEBC) today announced earnings for the quarter and year ended December 31, 2006.

S&P Puts Fremont on Credit Watch

Credit rater Standard & Poor's said Friday it has placed Fremont General Corp. on a credit watch list, following news that the subprime mortgage loan provider will delay the release of its earnings.

Illegal Immigration And The GOP’s Descent Into Statism

Former Georgia Congressman, and former Republican, Bob Barr writes in today’s Washington Times that the the emerging Republican position on immigration is another indication of it’s descent into big government statism:

Bank of America finds itself in illegal immigration debate with new credit card

When news broke that Bank of America Corp. was testing a new credit card available to customers who may be illegal immigrants, the reaction was predictably harsh.

Kelly Services to Present at the Credit Suisse Global Services Growth Conference

Kelly Services, Inc., a global staffing solutions provider, today announced that it will be making a presentation at the Credit Suisse Global Services Growth Conference in Phoenix