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Credit Research News - April, 2008















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

Credit Research News - April, 2008



Broadridge Credit Rating Unchanged by S&P Correction

Earlier today, S&P issued a press release titled "S&P Downgrades Broadridge Financial Solutions (Corrected)."



Credit Union Legislation Faces More Negotiations

Lawmakers and the lending industry are planning to work on a compromise version of legislation that would allow credit unions



Court Rules Credit Card Arbitration Lawsuit Can Go Forward

Suit charging collusion between banks and creditors against customers



PSCU to return Visa windfall to credit unions

The board of directors of PSCU Financial Services agreed to give to its member-owners all of the $20.5 million the organization received



Sector Wrap: Credit Cards lenders up on Amex report

Shares of credit card lenders climb on American Express' 1st-quarter profit results



SearchMyLoan.com Announces Alliance with Strategic Information Resources

SearchMyLoan.com (SML), a provider of loan search and pricing services for the mortgage industry, announced its alliance with Springfield



Amex profit slips 6% on credit losses

American Express Co.'s first-quarter profit slipped 6 per cent as the credit card lender saw more U.S. cardholders fail to make their payments, it said yesterday.



Travel Troubleshooter: Where are my vouchers?

Myron Sigal and his wife can't make their return flight from Venice to Philadelphia after she is injured on a Mediterranean cruise.



First Advantage sells underperforming units

On the heels of a first quarter profit gain of 18 percent, First Advantage Corp. said it would sell Credit Management Solutions Inc.,



AmeriChip International Inc. Secures an Additional Working Capital Line of Credit Through InStream

The Board of Directors of AmeriChip International, Inc. (OTCBB: ACII) announced today that it has secured an additional working capital line



Take the Sting Out of Subscription Services

Have you run into problems with software that charges on a subscription basis? Our tips can help keep unpleasant surprises to a minimum.



Take the Sting Out of Subscription Services

Have you run into problems with software that charges on a subscription basis? Our tips can help keep unpleasant surprises to a minimum.



Webster Says Net Income Fell 30.5%

Webster Financial Corp. reported Tuesday that net income fell 30.5 percent in this year's first quarter as the provision for credit losses



Anne Cochran: Landrieu efforts aid credit uniion movement

Having access to affordable financial services is a critical need for all residents of the state of Louisiana and throughout the entire nation.



YesMany Expands Its Services and Makes Up to 4 Credit Cards Available for Its Customers

YesMany increases the number of its services via which credit cards are being issued. Now company customers can order up to 4 different credit cards and purchase various goods and services online with even greater convenience.



TradingScreen: First EMS to Introduce Credit Suisse's AES FX Algorithms for FX Trading

TradingScreen Inc., the premier execution management system (EMS: 24.04, +0.23, +0.96%) provider of multi-broker, multi-asset class trading systems to the buy side



Media Money Monkey: Help for Your Finances

The vultures are out-in-force. Foreclosures, defaults, and dismal FICO scores rule the day for many - and represent an irresistable siren call for the shady.



For Small Businesses Affected by the Credit Crunch, SBA Loans May Offer Alternative Financing

Today's tightening credit standards and sluggish economy have made it more difficult for small business borrowers and owners



A Bush Success (not that he gets credit)

The protracted political struggle over the future of American health care stems in large part from a fundamental disagreement



London Bay Capital, SellingSource to Establish a Separate Credit Reporting Division;

SellingSource, LLC and its owner London Bay Capital LLC announced today they are separating their data and credit-reporting division



Hiring Outlook Is Bleak For Banking Professionals

For banking executives seeking new jobs, 2004 may be a dismal year. Thousands of bank employees are expected to lose jobs



Fulton sells credit card portfolio

Fulton Financial Corp. is selling its credit-card portfolio, saying the deal will lead to more programs and services for its card holders.



Tight credit makes FHA a bigger player

The Federal Housing Administration is back on the block.



Is affordable credit drying up?

Terricita Sass is alarmed. The Norfolk State University administrator knows that about one in five of her students gets a loan that is not federally guaranteed



U of I Community Credit Union

The University of Iowa Community Credit Union is currently seeking an experienced and dedicated professional to lead our Commercial Services Department.



New Credit Site Merger - The Beginning Of An On-Line Credit Trend

The merger of these sites marks the beginning of the merger of credit products, credit services, and credit education.



Business Credit Services Company Business-Tradlines.com Says FICO 08 Won't Stop Scammers

Business credit services company Business-Tradlines.com comments on business owners seeking investment capital and corporate credit under FICO 08.



Housing-credit woes spur calls for more federal regulation

A heavier federal hand is reaching into American life as politicians in both parties demand an overhaul of government financial regulation



AgCountry promotes six employees

Richard Mapel has been named director of business solutions education and product development for AgCountry Farm Credit Services, Fargo.



Citigroup reports $5.1 billion loss on hefty write-downs

Citigroup Inc. lost $5.1 billion during the first quarter and will eliminate about 9,000 more jobs, as poor bets on mortgages and leveraged loans



Fed Drafting New Credit Card Rules

The Federal Reserve later this spring will propose new rules to prohibit "unfair or deceptive credit card practices,"



U.S. recession almost certain, CEOs say

The U.S. economy is almost certain to face a recession this year and the recovery is likely to be slow, according to a survey of chief executives



Merrill Lynch still licking wounds from US subprime foray

US investment bank Merrill Lynch reported its third straight quarter in the red Thursday after another massive write-down



U.S. credit crisis seen changing fund industry

The U.S. credit crisis will most likely hurt fund performance in the short-term and spur consolidation in the asset management industry



Capital One Profit Clipped

Capitol One Financial (COF - Cramer's Take - Stockpickr) posted an 18% drop in first-quarter earnings after Thursday's closing bell,



Open house to be held

The Annual AgHeritage Farm Credit Services Customer Appreciation Open House is scheduled for Tuesday, April 29.



Healthcare Services Group shares fall on 1Q profit drop

Healthcare Services Group shares hit lowest point in nearly 2 years on 1st-quarter profit drop



UPDATE: JPMorgan 1Q eps 68c; revenue down 11%, falls short of Wall St. view

JPMorgan Chase Wednesday reported first-quarter earnings of $2.4 billion, or 68 cents a share, down from a year-ago profit of $4.8 billion



JetPay LLC and JetPay ISO Services LLC Complete Deal With Susquehanna Bank

JetPay LLC, a payment services provider and developer of the JetPay(TM) suite of payment transaction processing solutions



Survey: Online banking gets bonus from users

Banking sites beat out credit card, investment Web sites in user satisfaction



Banks Set the Customer Satisfaction Standard for Online Financial Services

Customer satisfaction with online banking far surpasses other online financial services like credit cards and investment



GSA’s Government Credit Card Training!

The U.S. General Services Administration invites you to participate in our 14th annual International Products and Services Expo 2008 in Anaheim



Business Credit Services Company Business-Tradelines.com says FICO 08 Won't Stop Scammers

Business Credit Services Company Business-Tradelines.com Comments on Business Owners Seeking Investment Capital and Corporate Credit Under FICO 08



Equity Based Services, Inc. Announces Acquisition of Storage One Portfolio in Las Vegas for $12 M

EBS closed a $12 Million acquisition in the Las Vegas market today, once again showing that it is one of the few players in self storage acquisitions that is still able to close deals in an uncertain credit market.



IdentityTruth Selected by Provell, Inc. to Offer Identity Protection Services to over 500,000 Member

IdentityTruth, the leading provider of a new breed of services to help consumers safeguard their Privacy and Identity



Moody's, Fitch Affirm Wachovia Rating

The three major ratings agencies on Monday affirmed Wachovia Corp.'s ratings, saying the bank's diversity and plan to raise more money



Southwest Corporate Federal Credit Union Receives Award from Digital Defense for Best Network

Digital Defense, Inc. (DDI), a provider of information security assessment services and Software as a Service (SaaS)



VSoft and Parascript Partnership Provides Image Exchange Solution to Credit Unions

VSoft's Branch Capture integrated with Parascript's check recognition technology helps Synergent credit union customers reduce manual item capture and courier services costs by tens of thousands of dollars annually



THE WEEK AHEAD: APRIL 14-18

· International Economic Development Council holds forum on federal economic development.



Bob Bahl named president and CEO of AgCountry Farm Credit Services

...Mohall, ND, Bahl is a graduate of the University of North Dakota with a degree in finance and accounting and is a CPA.



Skybus shows need to know credit refund law

Are you holding a worthless ticket on a Skybus Airlines flight and want a refund?



The GAO Discovers Lavish Government Credit Card Spending

A Government Accountability Office (GAO) audit found government workers using their government-issued credit cards



G7 told capital, risk management, agile central banks key credit crisis reforms

Bigger capital buffers, better liquidity risk management and central banks that can move with more agility and more money



Federal worker spending abuses insult citizens

Let's pause for a moment and reflect upon some of the services provided by our various agencies of the federal government.



Charge Card Abuse? Who Cares?

Getting a handle on a government-wide program is a monumental task.



U.S. banks focused on real estate face earnings challenges ahead - S&P

Standard & Poor's Ratings Services said U.S. financial institutions with business profiles that have a heavy concentration in real estate



Credit cards accepted at more DJ offices: County commissioners also make progress

Tribune Information Services via COMTEX) -- -- Credit card payments will be allowed at more district justice offices now as the service expands to four more locations.



Consumer Credit Site to Launch at ABA Meeting

SafeBorrowing.com site launched today at Section of Business Law spring meeting.



Rich uncle

WHY did the General Services Administration think issu- ing credit cards with Uncle Sam's name on them was a good idea?



OMB Gets Tough on Misuse of Government Credit Cards

A crackdown on the misuse of government credit cards is underway



Lingerie, iPods on government credit cards

Federal employees charged millions of dollars to government credit or debit cards, according to a Government Accountability Office study released Wednesday.



TSCRA Offers Credit, Identity Protection To Members

Texas and Southwestern Cattle Raisers Association is offering association members a tool to protect their credit and identity



GAO: Millions wasted on gov't cards

Federal employees charged millions of dollars for Internet dating, tailor-made suits, lingerie, lavish dinners and other questionable expenses



Federal Credit Cards Misused

Federal employees used government credit cards to pay for lingerie, gambling, iPods, Internet dating services, and a $13,000 steak-and-liquor dinner



Alliant Insurance Services Develops New Program for Investors in Carbon Credit Projects

Program Protects Investors Against Political and Regulatory Uncertainties That Pose Threats to Greenhouse Gas Reduction Projects in Developing Countries



S&P raises Safeway corporate credit rating to 'BBB'

Standard & Poor's (NYSE:MHP) Ratings Services on Tuesday raised the corporate credit and senior unsecured ratings



INOVA Federal Credit Union Replaces Legacy System with Open Solutions’ DNA Core Platform

INOVA Federal Credit Union, located in Elkhart, Ind., has selected Open Solutions Inc.’s® The Complete Credit Union Solution®: DNA



New Apps Align Voice and Data Usage with Service Plans

Openet (News - Alert), a provider of Transactional Intelligence solutions for service providers, has announced two new applications supported by its FusionWorks Product



Bahl named President and CEO of AgCountry

Bob Bahl has been named President and CEO of AgCountry Farm Credit Services. Bahl succeeds Eugene Smestad, who retired on March 31



Consumer Credit Counseling Service Receives Grant for Foreclosure-Prevention Counseling

Consumer Credit Counseling Service of Forsyth County (CCCS) has been awarded a grant of $237,132 from the North Carolina Housing Finance Agency



CardWorks Named Servicer of Choice for Innovative Credit Card for Healthcare Services

CardWorks Servicing, LLC, ("CardWorks") the largest privately held third party bankcard servicer formerly known as Cardholder Management Services



Credit card issuers rally, as Discover Financial jumps on Diners Club purchase

Shares of credit-card companies rose Monday, drawing support from gains in the broader financial sector and as shares of Discover Financial Services



1st Farm Credit services reports record year

1st Farm Credit Services, Illinois' largest agriculture lender, reported record earnings and growth in 2007.



New Javelin Report Benchmarks 25 Top Credit Card Issuers for Consumer Identity Safety Features

Findings Show That Arming Consumers with Expanded Account Monitoring Tools is Key to Security and Strengthening Customer Loyalty



Job Seekers More Often Submit Credit Scores With Applications

Forget about government wiretaps. It’s the business sector that will likely peer into the lives of most Americans in any given year



Credit Risk Advisor Provides a Complete View into the Overall Creditworthiness of a Small Business

Credit Risk Advisor provides a complete view into the overall creditworthiness of a small business.



Credit Repair Services – Reasons Why Not To Sign

Repairing your credit by means of a credit repair service seems to have become very fashionable.



It's Too Easy To Buy With Credit Cards

There is no question the federal government, plus many lenders and financial professionals, shoulder a lot of blame for our current economic crisis.



College credit draws interest

Linda Cullinan is more than pleased to see her company emblazoning piles of its credit cards



Texas authorities raid controversial church's premises

Authorities in Texas have raided a ranch belonging to a controversial church as part of a probe into an alleged child abuse scandal.



EDITORIAL: Tax credit moves out of committee

After failing in past attempts, the Legislature gets another crack at passing a state version of an earned-income tax credit. It's a good idea and one that deserves passage.



Information on Tax Assistance Programs Available at NJ 211 -- Residents Calling in Record Numbers

NJ 211 Call Centers have seen a 600% increase in inquiries pertaining to tax related savings including the Earned Income Tax Credit (EITC) program and other cost saving measures available to senior citizens and military families.



Home builders back new tax credit

In Washington, lawmakers are debating a bill to help struggling homeowners facing foreclosure.



Salt Lake Credit Union merges

Salt Lake Credit Union, a 67-year-old financial cooperative originally founded to serve employees of Utah's capital city



Norristown Bell Credit Union Selects SEDONA as MRM Technology and Services Provider

SEDONA(R) Corporation (OTC Bulletin Board: SDNA) (http://www.sedonacorp.com), a leading provider of Customer and Member Relationship Management



Millennium Inorganic Chemicals cut to 'B-' on weak 2007 operating results - S&P

Standard & Poor's Ratings Services downgraded Millennium Inorganic Chemicals and signalled a further possible downgrade



Alliance Data delivers credit card services for Hot Topic's Torrid

Loyalty and marketing services provider Alliance Data has partnered with specialty retailer Hot Topic to deliver private label credit card services



G-III Apparel Group, Ltd. Increases and Extends Revolving Credit Line

G-III Apparel Group, Ltd. (Nasdaq: GIII) today announced it has increased its secured revolving credit line to a maximum borrowing level



Midwest Banc Holdings, Inc. Announces Significant Transactions

Midwest Banc Holdings, Inc. (NASDAQ: MBHI) announced today several significant transactions and other actions completed in the first quarter of 2008:



VeraSun Energy's merger with US BioEnergy not to affect credit quality - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said ethanol maker VeraSun Energy (NYSE:VSE) Corp.'s credit quality



Carbon Credit Environmental Services is Taking the 2008 Olympics Slogan 'One World, One Dream

Carbon Credit Environmental Services (CCES) has committed to offsetting the greenhouse gas and carbon dioxide (GHG, CO2) emissions



US Credits poised for downgrades reach a new record in March - S&P

Standard & Poor's Ratings Services said the number of US-based entities at risk of downgrades reached a new record of 703 in March



Jackson Hewitt(R) Celebrates Educators and Students with Occupation-Based Tax Savings

Educators and students who have yet to file their 2007 tax returns have no need to cram, thanks to Jackson Hewitt Tax Service



Coastal Federal Credit Union Signs Up for IBM Loan Fulfillment Services

IBM Lender Business Process Services, Inc. (IBM LBPS), a wholly owned subsidiary of IBM (NYSE: IBM), today announced that Coastal Federal Credit Union has entered into a five-year contract



Siemens First Capital Offers Accounts Receivable Credit Facilities for Borrowers and Financial Parts

Siemens First Capital reaffirms commitment and stands ready as a reliable and stable source of capital for Middle Market customers



Expert Group Adds Credit Repair Services Through Joint Marketing Campaign With Expert Credit Fix USA

Expert Group, Inc. (PINKSHEETS: EXPT) announced today that the Company is expanding its range of services through a new joint campaign



Alaska USA Federal Credit Union Selects Fiserv's Integrated Cash Operations Modules for Web-based

Fiserv, Inc. (NASDAQ:FISV), a leading provider of information technology services to the financial industry



Best Brands ratings unaffected by credit amendment and waiver - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said its 'CCC' ratings and negative outlook on Best Brands Corp.



Make use of credit grantors’ best practices

As a credit grantor, you should be aware of some basic principles.


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