Credit Research News - October, 2008

Be wary of businesses claiming they can boost bad credit scores

With foreclosures, short sales and credit-card defaults at record levels, an aggressive breed of firms has sprung up offering to powerwash consumers' damaged

Now You Tell Us: UBS Finds Fault With AIG

There’s something about American International Group (AIG) that UBS doesn’t like. The firm cut its rating on the stock to neutral from buy.

Farm Credit System Reports 2008 Third Quarter and Nine-Month Net Income

The Farm Credit System today reported combined net income of $817 million and $2.370 billion for the three and nine months ended September 30, 2008

Credit Strains, Increased Use of Prepaid Cards Help PreCash Grow

PreCash Ranked 24th in Deloitte's Technology Fast 50 Program for Texas

Sweep by FTC nets RCA Credit, other Tampa Bay area business

The Federal Trade Commission is asking a federal judge to freeze the assets of a Largo credit repair business and its managing principals.

Hawaii BBB warns of credit repair companies

Hawaii’s Better Business Bureau is warning consumers about companies taking advantage of the credit crunch

Bartering is becoming one alternative as credit disappears

Tom Haines hopes to forge ahead with an upgrade to his small business without spending a dime.

First Northern Community Bancorp 3rd Quarter Earnings Report

Company Remains Strong in Unprecedented Economic Cycle

Gentiva(R) Health Services to Present at November Investment Conferences Hosted by Oppenheimer

Gentiva Health Services, Inc. , a leading provider of comprehensive home health services, announced today that it plans to present at November investment conferences

Consumer Reports Survey Finds One-Third of Americans Say They Are Worse Off Financially Than a Year

Women are more concerned than men and have been more likely to cut spending

Republic Services settles lawsuits

Republic Services settles suits challenging Allied Waste deal

Premier Service Bank Announces Earnings for the Third Quarter of 2008

Premier Service Bank today announced its financial results for the third quarter of 2008.

Mass. financial services companies to take a hit

Economic experts predict that the nation's weakening economy will cost financial services companies in Massachusetts

Merrill Lynch, Goldman Sachs, J.P. Morgan and Credit Suisse Provide Strategic Investment

Technology Solutions Innovator Secures Investment to Redefine Global Financial Securities Risk Management and Compliance

Banks to clamp down on credit card holders

The credit crunch is closing in on credit cards. Banks that got burned on bad mortgages are now bracing themselves for billions

Global Expert Services Firm LECG Adds Expert in Quantitative Credit Analytics and Financial Services

Global expert services firm LECG (NASDAQ: XPRT) has announced the addition of Dr. Kathryn Holliday, a seasoned expert in quantitative credit analytics

Microsoft Exec: Services Success Hinges On Change

Stephen Elop, president of the Microsoft (NSDQ:MSFT) Business Division, runs a $20 billion operation related to information workers

UPDATE 4-Moody's cuts 2008 view; credit freeze hits profit

Moody's Corp (MCO.N: Quote, Profile, Research, Stock Buzz), the parent of credit rating agency Moody's Investors Service

GMAC, Ford Arm to Get Help on Commercial-Credit Access

GMAC Financial Services, the troubled financial arm part-owned by General Motors Corp., will get federal help to access the locked-down commercial credit markets.

UniRush Has Deal to Help Customers Build Histories

UniRush LLC has struck a deal that will let holders of its prepaid cards build credit histories when they pay their bills.

CardCops: Stolen credit card details getting cheaper

The dynamics of the underground marketplace are pretty similar to that of the legitimate marketplace, with cybercriminals

County soon will accept credit card payments

Ashtabula County residents soon may be able to pay fines or other payments to county departments by way of credit cards.

Moody's sends Chrysler deeper into 'junk' status

Moody's Investors Service downgraded its ratings on Chrysler LLC and its finance arm further into "junk" status and said another cut could be forthcoming

Michigan First Credit Union Launches 'EZ Scan&Deposit(SM)' Online Service

Consumers and business members can save time and money by scanning and depositing checks from home or the office

FTC and State Agencies Target 36 'Credit Repair' Operations

The Federal Trade Commission (FTC (News - Alert)) has crackdown on 33 operations that deceptively claim they can remove negative information

Dynamic Marketing Systems Announces Alliance With New Jersey Credit Union League

Promotion of Web-Based Solution to Credit Unions Expedites Ability to Design, Produce In-House Marketing Materials

McGraw-Hill's 3Q profit falls 14 percent

McGraw-Hill Cos., which publishes textbooks and BusinessWeek magazine and owns credit ratings agency Standard & Poor's

Hexion and Huntsman Prepared to Complete Pending Merger; Credit Suisse and Deutsche Bank

Hexion Specialty Chemicals, Inc. announced today that late last night Hexion received correspondence from counsel to affiliates of Credit Suisse

Credit Union Finds Security with Unitrends Disaster Recovery Solution

Unitrends BareMetal Capabilities Allow Complete Restoration of Applications and Programs Regardless of Brand or Model

Visa, MasterCard to Pay $2.75 Billion to Settle Suit (Update2)

Visa Inc. and MasterCard Inc., the world's largest credit card networks, said their legal settlement with Discover Financial Services

Fidelity National Information Services Reports Revenue Growth of 25.4%; Organic Revenue Increases

Strong organic growth across all business lines Integrated Financial Solutions increases 9.0% Enterprise Solutions increases 3.7% International increases 25.5% Pro forma free cash flow of $118 million

Global Expert Services Firm LECG Adds Expert in Quantitative Credit Analytics and Financial Services

Dr. Holliday Has Almost Two Decades of Experience in Credit Analytics and Credit Finance for Fannie Mae

FHLBank Cincinnati Announces Third Quarter 2008 Results

The Federal Home Loan Bank of Cincinnati (FHLBank) today released unaudited financial results for the third quarter

Nearly 900 Members Attend State Employees' Credit Union's Annual Meeting

With a record turnout of nearly 900 member-owners, State Employees' Credit Union (SECU) held its Annual Meeting on Tuesday, October 14th at the Sheraton Hotel

Houlihan Smith Executive Will Speak at SCI Conference

Karl D'Cunha, Senior Managing Director at Houlihan Smith & Co., Inc., will discuss credit opportunities in the current market Nov. 6

Credit counseling services to be offered in Statesville

Iredell County residents who are looking for a way to stave off foreclosure or clean up their credit have a new place to turn for help.

THE QUARTERLY: Panel says Houston still avoiding economic brunt

With credit tighter than in recent years and a possible recession looming, we asked four experts an international trade specialist,

Financial crisis prompts calls for agency mergers

A growing chorus of legislators and experts is calling for a sweeping reorganization of financial regulatory agencies.

Credit unions undeterred by bank crisis, proclaim financial health

Local credit unions want to assure members and potential members that money is safe and secure in the federally chartered institutions.

Sun feeds data center pods to credit crunched

Sun Microsystems, like server rivals Hewlett-Packard and IBM, has been transforming its data centers in an effort to cut costs.

RaAnn Wood Appointed Credit Union Deputy Commissioner

Commissioner of Financial Institutions William S. Haraf today announced the appointment of RaAnn Wood as Deputy Commissioner,

S&P eyes YRC ratings for possible downgrade

Standard & Poor's Ratings Services on Friday said it may downgrade YRC Worldwide Inc.'s credit rating on concerns the weak domestic economy

BRIEF: Martin Marietta's credit rating lowered

A credit research agency lowered its rating today on Martin Marietta Materials' debt because the Raleigh-based producer is seeing weakening

Camco Financial Announces Third Quarter 2008 Earnings

Camco Financial Corporation (Camco) reported net earnings for the quarter ended September 30, 2008 of $1.07 million

Afternoon Reading: M&A on the Government Credit Card?

Almost from the moment the government announced its plan to take stakes in U.S. banks, speculation swirled that the rescue plan will lead to deals.

PNC Financial buying National City for $5.58B

PNC Financial Services Group Inc. said Friday it is acquiring National City Corp. for $5.58 billion, in one of the first concrete signs

Neighborhood Housing Services obtains financing for affordable development

One of San Antonio’s leading federal credit unions is providing the necessary capital for a a housing community aimed at serving low-income families.

NYT Co. Downgraded Below Investment Grade By S&P

New York Times Co. debt is no longer investment grade, Standard & Poor's Ratings Services asserted late Thursday as it lowered the publisher's credit rating three notches.

Oilfield service, driller earnings up; M&A beckons

United States - * Hurricanes trim gains from high oil, gas prices * M&A opportunities for rigs, rivals likely to crop up

S&P cuts Spansion's corporate credit rating

Standard & Poor's Ratings Services lowered its corporate credit rating on semiconductor maker Spansion Inc. Thursday

A ski vacation that was all downhill

Colleen Bosler prepays for a hotel at a ski resort during Christmas. But she misses her plane, forcing her to reschedule.

Growing Businesses find a Trusted Partner in Bibby Financial Services

Bibby Financial Services recently provided a $1.5 million credit facility to a cable communications company in western Ontario.

FPL Recognized for Exceptional Customer Service

For the fifth consecutive year, Florida Power & Light Company (FPL) has received the prestigious ServiceOne Award, an honor presented annually to recognize utilities

TrueCredit Survey Reveals Two-Thirds of Consumers are Worried about Identity Theft

Personal Finance Experts Offer Tips Consumers can take to Protect Themselves

Standard & Poor's Launches Investor Analytics Initiative

Fixed Income Risk Management Services to Provide Data, Advanced Risk and Counterparty Analytics, and Valuation Services

'Operation Clean Sweep': FTC and State Agencies Target 36 'Credit Repair' Operations

The Federal Trade Commission and 24 state agencies today announced a crackdown on 33 operations that deceptively claim they can remove negative

Stocks battered again

Dow records 7th-worst point loss, Nasdaq at 5-year low, as weak earnings, slumping oil prices heighten recession fears.

Stocks battered again

Dow records 7th-worst point loss, Nasdaq at 5-year low, as weak earnings, slumping oil prices heighten recession fears.

Debt cancellation coming to almost 1,500 West Virginians

Almost 1,5000 West Virginia consumers will see debts totaling over $6.5 million canceled following an agreement made by the state's attorney general

Tennessee's Credit Unions Are Strong, Healthy and Open for Business

The recent turmoil in the national and global financial markets has resulted in chaos and a dramatic change in business realities

A.M. Best Comments on the Planned Merger Between Consumer Insurance Services Limited

A.M. Best Co. has commented that the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of "a-" ofConsumer Insurance Services Limited

Fair Issac and AllRegs Expand Delivery of FICO Score Training to Lending Professionals

Training to be offered in a variety of formats to the mortgage and financial services industry

CO-OP Financial Services Selects mFoundry Platform to Deliver Mobile Banking to Credit Union Members

Mobile financial services leader, mFoundry today announced that CO-OP Financial Services has selected mFoundry's(R) financial services platform

EP Global Communications, Inc. Establishes Credit Line With Coastline Financial Services Group, LLC

EP Global Communications, Inc. , the parent company of Exceptional Parent (EP) magazine, announced today that it has entered into a one-year agreement with Coastline Financial Services Group, LLC of Miami

Northern Trust Corporation Reports Third Quarter 2008 Loss of $.58 Per Share, Down From the Prior

Results Impacted by Previously Announced Client Support-Related Charges

S&P may downgrade American Express long-term debt

Standard & Poor's Ratings Services on Tuesday placed its long-term debt rating for American Express Co. on CreditWatch

World Logistics Services, Inc. Announces New Credit Facility

World Logistics Services, Inc. (Pink Sheets:WLSV) announces it has entered into a new credit facility that will provide additional capital

Newtek Business Credit Extends Wells Fargo Line

Newtek Business Services, Inc. a provider of business services and financial products to the small- and medium-sized business market

Ambac Financial Group, Inc. Board of Directors Names David W. Wallis Chief Executive Officer

Ambac Financial Group, Inc. (Ambac) today announced that David W. Wallis has been named President and Chief Executive Officer of Ambac

The Benefits of Credit Unions

With banks tightening lending standards and interest rates headed north, where do you turn? For 90 million Americans, the answer is credit unions.

Delinquencies, Spending Cuts Drove 24% Dip In Amex Quarterly Profit

American Express suffered a 24 percent decrease in net income in the third quarter of 2008, as write-offs due to credit card delinquencies

A Comprehensive Provider of Business and Personal Credit Cards by Texas Credit Card.Info, a Feature

Industrial Info Resources (Sugar Land, Texas) will host special guest Texas Credit Card.info (Houston, Texas) as part of this week's "Industry Today" webcast.

AT&T Outlook: Mixed and Cloudy

AT&T, long a bellwether for the telecom industry, is expected to offer a few hints about the state of the economy when it reports its third-quarter results on Wednesday.

Wall Street higher as credit market easing

Wall Street went higher Monday, as investors digested declining rate on credit market and testimony from the Federal Reserve Chairman Ben Bernanke.

American Express quarterly net falls 24%

American Express said late Monday that quarterly net income fell 24% as the credit card company set aside more money to cover bad loans.

Stocks finish with a flourish

Dow up 413, jumping above 9,000, as investors welcome lending-market improvement, Bernanke comments on second stimulus plan.

BancorpSouth Announces Earnings of $0.34 per Diluted Share for Third Quarter 2008

BancorpSouth, Inc.today announced financial results for the third quarter ended September 30, 2008.

Value hunting in insurance wreckage

Shares of MetLife, Prudential and Hartford have been whacked during the credit crisis. Is the worst finally over or are they the next meltdown?

VW Credit, Inc. Makes Top Three in Four Categories of the 2008 J.D. Power Dealer Financing

VW Credit, Inc. (VCI) continues to improve its high ranking in the annual J.D. Power Dealer Financing Satisfaction Study for the second consecutive year.

Titan Lenders Corp Offers Residential Lending Services to Community Banks and Credit Unions

Mortgage Access Program speeds mortgage operation start up, improves risk management

Farm Credit Provides Flood Relief Donations To Central Indiana Organizations

For almost a century, Farm Credit Services of Mid-America and CoBank have formed connections to communities they serve

Frozen credit, market turmoil put mergers on ice

The once frenzied pace of corporate acquisitions in many industries has come to a near standstill in the face of frozen credit

Summary Box: M&A slows on credit freeze

The locked credit markets have brought mergers and acquisitions to a near halt this month as financing remains scarce

Credit Union Resources, Inc. To Partner with Leading Language Service

Credit Union Resources, Inc. announced its intent to partner with Washington-based CTS LanguageLink, the leading full-service translation

Many Georgia mortgage holders still struggling to pay

Despite mounting foreclosures and loan delinquencies in Georgia, lenders and consumer advocates have been slow

Bank or credit union? How to decide

As the U.S. banking industry undergoes a historic upheaval, many people are considering credit unions as a new place to park their money

It's tough being a hedge fund manager

To say that Andrew Lahde "hates" the hedge fund business would be an understatement.

Under the Hood of a GM-Chrysler Merger

BusinessWeek has learned details of the proposed merger between GM and Chrysler. The rewards are huge—but so are the obstacles

Money woes? Ask the experts

Are you worried about your money?

Will Banks Lend?

Banks don’t trust each other, and the lack of confidence is curtailing business activity across the U.S.

BestWeek: States Could Claim Stake as Credit Default Swap Regulators

It is a market with exposures that, by some tallies, are quite literally more than all of the money in the world, yet its never received direct oversight

Transit services across U.S. threatened by deals with AIG

The next potential victims of the nation’s credit crunch: nearly 1.5 million people who ride buses and trains each weekday

BizXchange Expands Barter Finance Services

BizXchange (BizX) has expanded their Business Barter Finance Services, offering expanded credit services for members facing tightened credit through traditional lending institutions.

UPDATE: Schlumberger Signals Slowdown On Heels Of Credit Crunch

Schlumberger Ltd. on Friday signaled a slowdown in its business next year as the oilfield giant positions itself for the economic uncertainty

Ad spending softens in financial services sector

Ad spending by the cash-strapped financial services sector started weakening even before this month's credit meltdown

Credit woes plaguing regional banks

Profits drop at BB&T, Huntington, PNC as credit problems persist, yet analysts see positives

American Airlines Federal Credit Union to Celebrate Grand Opening in Irving, Texas

American Airlines Federal Credit Union (AA Credit Union) is celebrating the grand opening of its newest Texas branch Saturday, Oct. 25

Ford Says Auto Loans Are Still Available for Customers

Ford Motor Co. sent a letter to dealers that sought to reassure their customers that the auto maker still has a credit arm willing to lend.

Oil Field Investment Steadier Than Service Stock Rout Implies

The six-year boom in oilfield services spending is over, but exploration and production budgets aren't being slashed to the degree

TEXT-S&P keeps Merrill Lynch on creditwatch developing

Standard & Poor's Ratings Services said today that its ratings on Merrill Lynch & Co. Inc. (Merrill Lynch; holding company 'A/A-1')

United Lender Services Selects Salient Business Solutions for Outsourced Title Processing

Outsourcing provides improved customer service, reduced costs during market crisis

Credit markets improve, but new troubles emerging

Corners of the credit markets are slowly loosening after the government pledged to buy stakes in private banks, but there's still congestion

RushCard Unveils New Features to Help Cardholders Improve Their Money Management in Tough Economy

At a time when the economy is very turbulent and people are anxious to safeguard their hard-earned money and use it wisely

Business Highlights

Investors agonizing over a faltering economy sent the stock market plunging all over again Wednesday after a stream of disheartening data

U.S. Auto Lenders Face `Hurdles' Into '09, S&P Says (Update2)

Ford Motor Co.'s Ford Motor Credit and other finance companies owned by or affiliated with U.S. automakers face ``major hurdles''

Peer-to-peer lending: Weighing benefits, risks

When Todd Taylor wanted to borrow $10,000 to pay off his credit card debt, the 32-year-old Detroit resident went to his bank

KazCommertzBank Optimizes Tele-Banking Service With Cisco Contact Center Technology

Cisco Unified Contact Center Enterprise and Interactive Voice Response Solutions Expected to Deliver up to 30 Percent Cost-Efficiencies per Call for Kazakhstan's Largest Bank

Financial Services Companies Go Green

Mintel Comperemedia sees green marketing and business tactics being used to weather financial crisis

ONN.tv's Mark2Market Dissects LIBOR, Credit Default Swaps, and Bernanke's Mind with Jud Pyle

Kevin Cook, host of Mark2Market's "Yield Curve Update" on www.ONN.tv, invited Chief Investment Strategist Jud Pyle to the CME/CBOT trading floors

Park National sells credit card portfolio

Park National Corp. has signed a deal to sell its credit card and merchant processing portfolios, a move that will pad its fourth quarter by more than $12 million

NelsonHall BPO Index Indicates BPO TCV on Rise Despite Credit Crunch

Government Sector Sees Increase in BPO Contracts While Banking Industry Sees Decline

Finance companies want US to buy bad auto loans

Finance companies are preparing to seek authority from the U.S. Treasury Department to sell bad auto loans to the government

SharperLending, LLC Releases New Appraisal Technology Platform for Lender, Appraiser HVCC Compliance

"AppraisalFirewall" Strengthens Existing Relationships, Creates New Opportunities

Help for Small Businesses in a Tightening Credit Market

Medium and small-sized companies in the U.S. that have fallen victim to tightened credit conditions by commercial banks

JAMS Forms Financial Markets Group Offering Dispute Resolution Services for Credit Crisis Litigation

JAMS, The Resolution Experts, the largest private provider of ADR Services in the United States, announced today that it has formed a Financial Markets Group

Quicksilver Gas Services LP Announces 2008 Third-Quarter Distribution

Quicksilver Gas Services LP (NYSE Arca: KGS) announced today that the board of directors of its general partner has declared a cash distribution of $.35 per common unit

Credit squeeze ends WM's $6.73-billion hostile bid for Republic

The current credit squeeze seems to have stymied another potential big-ticket acquisition. Waste Management Inc., the largest US trash haulier,

Taxi drivers not happy accepting credit cards

Chicago requires its taxi drivers to accept credit cards, however many refuse.

Disappearing Credit Forces Hospitals to Delay Improvements

In late August, even before the credit squeeze reached a full state of crisis, a hospital system in Hawaii filed for bankruptcy reorganization

Basic Energy Services Announces Share Repurchase Program

Basic Energy Services, Inc. (NYSE: BAS) ("Basic") announced today that its Board of Directors has authorized the repurchase of up to $50.0 million

Fitch Affirms Waste Management's IDR at 'BBB'; Outlook Stable

Following this morning's announcement that Waste Management, Inc. (NYSE: WMI) has withdrawn its unsolicited offer for Republic Services, Inc.

Are Shrinking Credit Limits Silently Hurting Your Credit Score?

As the market continues its month-long hula, banks are tightening up credit limits.

PHH Corporation Announces Appointment of Sandra Bell as Executive Vice President and Chief Financial

PHH Corporation today announced that its Board of Directors has appointed Sandra Bell as Executive Vice President and Chief Financial Officer

Tampa Bay Federal Credit Union Gets Approved for $500,000 in Deposit Insurance for Members

Tampa Bay Federal Credit Union (TBFCU) announced today they will continue providing member deposit insurance with an increase of up to $500,000.

Radian Guaranty Launches New Program To Keep More People in Their Homes

New Servicer Advocacy Group Created to Reduce Foreclosures Offers Range of Services Designed to Mitigate Losses and Aid Borrowers

AT&T's TV service comes to Wal-Mart; battle for new subscribers continues

Just when you were ready to give up cable altogether and watch TV on your computer, telecommunication companies start aggressively rolling out

U.S. small businesses squeezed in credit crunch

The turmoil on Wall Street is aggravating tough economic times on Main Street as small businesses, accounting for half of U.S. private-sector

Man sues Web site, others over statements about his business

A St. Albans man and his wife have filed suit against a Web site, its owner and 10 others, alleging they made false statements

Reasonable Doubt: We're livin' on the edge

Steven Tyler and other members of Aerosmith are not widely known for offering practical financial advice, but 15 years ago they perfectly described

Financial troubles spread to credit unions

It's not just giant banks on the brink these days: Losses are clobbering nonprofit credit unions that have strayed from their conservative heritage

Tighter credit card limits add to woes

First it was home mortgages. Now credit cards may become the next focus of the credit crisis.

Unregulated swaps seen as big factor in Wall Street collapse

It can be a fine line between investing and gambling, but in Las Vegas, you know the odds.

Credit unions alternative to banks

With banks tightening credit and the national and international finance markets in freefall, some people may be looking for safer, more stable ways to save, invest and borrow money.

DTCC Addresses Misconceptions About the Credit Default Swap Market

The idea that the industry lacks a central registry for over-the-counter (OTC) credit default swaps (CDS) is grossly

Global leaders seek answer to credit crisis

This was the week when the world got to see what unchecked financial panic looks like.

Vertigo on Wall Street

Volatile Dow plunges as much as 697 points, rises as much as 322, as panicky investors try to find their footing.

Park National To Sell Credit Card, Bankcard Processing Portfolios To Subsidiaries Of U.S. Bancorp -

Friday, Park National Corp. (PRK: News ), a multi bank holding company, announced that it has entered into a definitive agreement

S&P questions whether California can borrow $4B

A credit rating agency on Friday questioned whether California will be able to raise $4 billion by selling bonds

Fitch Rates Indiana Finance Authority's 2008 Sisters of St. Francis Health Revs 'AAA/F1+'

Fitch Ratings has assigned 'AAA/F1+' ratings to the Indiana Finance Authority's health system revenue refunding bonds

Community Choice Credit Union Closed Monday, Oct. 13 for Community-Service Project at Vista Maria

Community Choice Credit Union will be closed on Monday, Oct. 13. Over 150 Team Members will participate in a community-service project

Composure While Under Pressure

For those in the credit market, equanimity is a virtue that will be tested.

Treasury plan fails to stem carnage

In normal times, bankers would be loath to invite the federal government in as an investor in their institution. But these are not normal times.

Fears Grow That Tight Credit Could Crush GM, Ford

Two of the nation's big automakers, General Motors and Ford Motor Co., are at the center of attention on Wall Street as shares of the companies tumbled to new lows.

Forrester: Credit crunch may freeze tech services projects

Forrester Research in a report is confirming that the credit crunch is beginning to hit technology services firms.

States cut spending, put projects on hold

With the economy in a slide and the credit markets seized up, states are slashing budgets, eliminating jobs, putting major construction projects on hold

GM shares fall 30 percent after S&P statement

Shares of General Motors Corp. and Ford Motor Co. plunged in the waning minutes of trading Thursday, after Standard & Poor's Ratings Services

Rate cut loosens credit only at the margins

The credit markets might not be quite as squeezed as they have been recently, thanks to the Federal Reserve's interest rate cut. But they're hardly back to normal.

American Axle downgraded to 'B', on negative watch - S&P

Standard & Poor's Ratings Services lowered its ratings on American Axle & Manufacturing Holdings Inc., including the corporate credit rating to 'B' from 'B+.

Credit may tighten as jobless rate rises

Stock prices reflect future expectations about the U.S. economy, so the continuing avalanche on Wall Street signals tough times ahead.

CBS13 Asks: Is A Credit Counselor Worth It?

Lots of people are turning to credit counselors these days to help lower their credit card payment. So tonight CBS13 asks the question, is it worth it?

Prudential Financial, Inc. Pre-Announces Selected Elements of Its Expected Third-Quarter 2008 Result

Prudential Financial, Inc. today pre-announced selected elements of expected results for its Financial Services Businesses for the third quarter of 2008.

S&P takes away Southwest Airlines' A- credit rating

S&P knocked Southwest's long-term corporate credit rating, which had been rated A-, to BBB+, the second downgrade in 14 months.

Nielsen: Meltdown Is Mixed Bag For Financial Services Ads

Turns out the economic meltdown wan?t a downer for all financial services advertising

Three Hawaii credit unions join shared services group

Three Hawaii credit unions have joined a shared services organization that allows members to perform transactions as if they were at their own credit union.

Credit Crisis Means States May Need Help From Federal Treasury

Arnold Schwarzenegger, the governor of the nation's biggest, wealthiest state, began the grim parade last week.

Signs of thaw in credit markets are few

The squeezed credit markets saw just a few hints of loosening on Wednesday after the Federal Reserve slashed the target fed funds rate by a half-point to 1.5 percent.

California, States Urge Feds to Widen Market Bailout (Update2)

California and other states that need to borrow money for expenses are urging the Federal Reserve and the U.S. Treasury

U.S. stocks lose ground for a sixth straight day

U.S. stocks thudded lower on Wednesday in a late-session tailspin that followed wild swings into positive and negative turf

Bank or credit union? Deciding which works for you

As the U.S. banking industry undergoes a historic upheaval, many people are considering credit unions as a new place to park their money.

Moody’s downgrades all of Centex Corp.’s ratings

Ratings agency Moody’s Investors Service said Wednesday it has downgraded all of Centex Corp.’s ratings.

Can we blame credit cards?

Since learning recently that our nation has gone down the economic dumper, we've had time for our financial experts

Not only do we have to exercise, we have to enjoy it too

Confused about how much exercise you’re supposed to do? Thirty minutes a day? An hour? How much cardio and how much strength training?

Congress scolds former AIG executives over crisis

Former top executives of insurance giant American International Group Inc. were on the receiving end of a verbal smackdown Tuesday

Ex-CEOs pass blame for AIG's downfall

Three former heads of American International Group deflected blame as a legislative panel reviewed the events

Waste Services, Inc. Announces $300 Million Refinancing

Waste Services, Inc. (Nasdaq: WSII), a multi-regional, integrated solid waste services company, announced today that it has completed

A 5-year low

U.S. stocks are clobbered for the 2nd straight day, with Dow losing 500 points. Investor gloom persists.

Leading Payroll Company Counting on LifeLock(R) Identity Theft Protection

LifeLock Partners with AmCheck to Bring Premier Identity Protection Services to a Half Million People

CFSI Announces Latest "Catalyst Fund" Investee

The Center for Financial Services Innovation (CFSI) announced today its latest investments under its Catalyst Fund:

EnablePay Helps Merchants Eliminate Unnecessary Credit Card Transaction Fees

Industry Veterans Provide Retailers and Other Merchants a Direct Credit and Debit Card Transaction Option; Company Secures $2 million in Private Placement; Plans to Open Additional Offices in New York and Indiana.

New Experian Research Highlights Shifting Consumer Delinquency Trends

Trends may require lenders to change traditionally accepted risk strategies

Credit union services merging

Two service providers that do back-office work for many of Montana's credit unions are merging.

Bank of America profit falls 68%, firm cuts dividend

Bank of America said Monday its third-quarter profit slid below analysts' estimates, and announced a dividend cut and stock offering aimed at positioning it for an eventual recovery.

Internap and Bank of America Amend Credit Agreement to Support Continued Growth

$35 million credit facility simplifies debt structure, provides greater flexibility and liquidity to invest in the company's future

Jobs lost, credit choked, contractors worried

Construction employment declined in September, with 35,000 jobs lost, according to the U.S. Bureau of Labor Statistics.

Fed, Dealers to Meet on Default Swaps Clearinghouse (Update1)

The Federal Reserve Bank of New York will meet tomorrow with banks and investors in credit-default swaps to gauge progress on an initiative

The Dismal Questions

John McCain and Barack Obama will meet tonight in Nashville for the second presidential debate.

Credit Karma Launches New Credit Card Recommendation Service Based on Actual Credit Scores

Monthly Credit Card Recommendations by Credit Score Range and Card Preferences

Debit cards bring risk of wiped-out account

Out of cash? No checks?

Trouble Ahead: Massive Credit Default Swap Payments Come Due

Historic auctions next week will result in billions of dollars in liabilities

Despite the Bailout Bill, a Steep Slide

U.S. stocks fell last week by the most since the September 2001 terrorist attacks as the passage of a massive financial-market rescue

Money scams don't slow down in bad economic times

The offers -- We'll repair your credit! We'll help you avoid foreclosure! Work from home! -- can seem promising to folks seeking relief. Be wary of such claims, particularly if there's an upfront fee.

Myrick, Coble switch votes, support bailout: Former GOP holdouts said they heard about gravity

WASHINGTON Rep. Sue Myrick wouldn't support a $700 billion bailout after hearing pleas from the White House and the nation's top financial regulators that it was necessary to avoid economic disaster.

Job losses signal that U.S. is in recession

The strongest sign yet that the U.S. economy is in recession came in a Labor Department report Friday that employers had cut 159,000 jobs in September

Schwarzenegger Says Federal Loan to State an Option (Update1)

Passage of a $700 billion financial- market rescue plan doesn't mean California won't need to ask the federal government

Toyota's 0 percent offer shows credit is available

Toyota Motor Corp.'s unprecedented offer of zero-percent financing on nearly a dozen models is trying to make the point that tight credit

President Signs Two-Year Extension of the R&D Credit

The Tax Projects Group, LLP ("TPG") announces the extension of the R&D Credit and applauds the White House and Congress.

Credit Solutions Receives First Platinum-Level Recognition in Leading Industry Association

Credit Solutions has become the first Platinum-level member of the International Association of Professional Debt Arbitrators

Cisco and Microsoft Roll Out Windows Server on WAAS

Cisco and Microsoft announced the availability of Windows Server on WAAS from Cisco Systems (News - Alert) that runs basic Windows Server 2008 functions

U.S. Service Industries Expanded at Slower Pace (Update1)

Service industries in the U.S. expanded at a slower pace in September as companies cut back on hiring.

Ford to Sell $500 Million in New Stock

Ford Motor Co. said Thursday it will sell up to $500 million worth of stock to buy back debt owed by its credit arm

Metlife, Hartford credit default swaps widen: Markit

The cost of protecting insurers' debt with credit default swaps rose on Thursday as concerns mounted about potential investment losses.

Does Your Financial Portfolio Need A Second Opinion?

For many Americans, when the doctor recommends surgery, most will seek a second opinion.

Dalrada to Provide Corporate Credit Business Services

Dalrada Financial Corporation: (Pink Sheets: DFCO) announced today its partnership agreement with Corporate Business Brokers

Superior Well Services Inc signs new syndicated credit facility

Superior Well Services Inc (Nasdaq: SWSI), an oilfield services company, reported on 1 October that it has signed a new syndicated credit facility

U.S. Business Owners' Pessimism at All-Time High; Concerns Include Energy Costs and Credit, PNC

Owners Recommend Oil Drilling in Restricted Areas Plus Incentives For Alternative Energy and Conservation

TOPWRAP 12-Crisis spreads; bailout focus on U.S. House

Shockwaves from the global credit crisis spread on Thursday, hitting industry and jobs worldwide and putting pressure on the U.S. Congress

Stocks end lower before vote

Investors await $700 billion bank rescue vote in the Senate.

www.ONN.tv Interviews Jim Iuorio on LIBOR Credit Spreads and Currencies

In www.ONN.tv's ( http://www.onn.tv) Wednesday morning edition of "Yield Curve Update," host Kevin Cook spoke with Jim Iuorio of TJM

Credit Unions Support Members During Natural Disasters with 24/7 Call Center Services

Digital Dialogue answers member requests in midst of Tropical Storm Fay, Hurricane Gustav

ADP Points To Job Weakness in September

Another in a recent series of bleak employment reports gave Wall Street a further reason to feel bearish Wednesday.

As Big Banks Converge, Depositors Find Deals At Smaller Institutions

As the big banks get bigger, it may be time for savers to shop around.

Farmers still able to get banks' loans

Agricultural lenders say money is still available for farm lending in the Midwest amid signs of tightened credit in U.S. financial markets.