Credit Research News - August, 2008

Business Observer

Dan A. Bell was named executive director of the Sandhills Area Land Trust, a nonprofit organization that works to preserve land

What are some factors that can really damage my credit rating?

Most people are aware that not paying their bills on time can damage their credit ratings. But there are other pitfalls to avoid

Scott named to Minnetrista position

Following an extensive search, Robert Scott has joined the staff at Minnetrista as vice president of philanthropy.

Service Credit gets Army Credit award

Service Credit Union received the 2007 Army Credit Union of the Year Award last week at the Defense Credit Union Council meeting in Chicago.

As banks battle for customers, it pays to compare

Competition among banks for consumers' money has heated up in recent months, meaning better deals on bank accounts.

Bringing up the grandkids requires financial planning

For many people approaching retirement, life can seem like it's going along according to plan.

Farm Science Review showcases everything ag-related and more

Commonly known as Ohio's premier agricultural event, Farm Science Review is a three-day event that attracts thousands of people from across the Buckeye State

Lessen farm accidents by practicing safety

As fall harvest nears, farm families are reminded to be alert to the dangers and practice farm safety this season.

A Middle-Class Tax Cut for McCain

Senator John McCain has proposed one of the most unambiguously pro-growth tax cut plans since the Kemp-Roth-Reagan tax cuts of 1981.

Poll Reveals Fifty Percent of College Students Seek a Plan to Decrease Their Debt

Even though 84 percent of college students say they are educated about money management and understand the consequences of debt

S&P revises Anadarko outlook to 'Positive'

S&P revises Anadarko Petroleum outlook to 'Positive' from 'Stable;' 'BBB-' rating affirmed

Fitch Rates Lehman Mortgage Trust Series 2008-6

Fitch rates Lehman Mortgage Trust's residential mortgage pass-through certificates, series 2008-6, as follows:

Capturing the Youth Vote: McCain, Obama Target Concerns About Paying for College

With the general presidential election only months away, concerns over the availability of student loans and how families

Analysts weigh credit card impact of Biden VP bid

Credit card industry analysts are wary of the sector's regulatory outlook if Barack Obama, a harsh critic of their business

Improve Your Credit Score Now

August 2008-No longer must you pay outrageous fees to credit repair agencies to improve your credit score.

How to check the safety of your credit union

Q: How do I know that the money I have in my credit union is safe?

Google extends Apps Premier credit for Gmail outage

But three outages in 2 weeks raises questions over whether it is ready for large enterprises

The Bank of New York Mellon Provides Update on Lost Back-Up Data Tapes

Offers Comprehensive Fraud Protection to Individuals Identified in New Forensic Review of Data No Indication That Any Lost Information Has Been Inappropriately Accessed or Used

Some States Making It Easier for Consumers to Protect Credit Files from Identity Thieves

Credit Bureaus Will Be Required to Make Security Freeze Protection More Convenient to Use in Some States Starting September 1

Small Businesses Dissatisfied With Credit Card Processors

A new survey shows small businesses are dissatisfied with their credit card processing arrangements.

State Cannot Force Removal of SSNs From Privacy Advocate's Site

jvatcw brings us a story about Betty Ostergren, who operates a website dedicated to pointing out the social security numbers visible in public records.

Former Financial Services Executives Launch Innovative Patented Credit, Debit Card and ATM Trans.

Ivan Ochoa and Daniel Davila, executive members of the newly-created company C.N.S.C. (Charge Notification Services Corp.) are launching their proprietary

State Employees' Credit Union Extends Long-Term Agreement with Visa

Visa To Provide Full Suite of Consumer Products and Services to Country's Second Largest Credit Union as Part of New Ten Year Agreement

QuestSoft Touts Income Analysis Software

Lenders comply quickly, easily with new Federal Reserve regulations

Alliance Data Signs New Long-Term Private Label Credit Agreement With Orchard Brands

Program to Help Catalog and Web Retailers Improve Incremental Sales and Customer Loyalty DALLAS, Aug. 27

Ellison Credit Card Provision Becomes Closer to Law

A provision authored by Congressman Keith Ellison’s (D-Minneapolis) has become an integral part of the Credit Cardholders’ Bill of Rights

TCM Bank, N.A. Selects Cypress Software Systems' Mark IV to Automate Credit Card Application Process

TCM Bank, a subsidiary of the Independent Community Bankers of America (ICBA) and ICBA Bancard, has chosen Cypress Software Systems

GE Corporate Lending Provides $125 Million Plan of Reorganization Credit Facility to Hilex-Poly

GE Commercial Finance Corporate Lending today announced it provided a $125 million plan of reorganization credit facility to Hilex-Poly

Army honors Service Credit Union

Service Credit Union has received the 2007 Army Credit Union of the Year Award at the Defense Credit Union Council meeting in Chicago.

Clark County approves increase in credit card spending limit

Clark County commissioners voted unanimously to increase a credit card spending limit for Department of Job and Family Services

Ready Credit can save money for people who don't use banks

The Eden Prairie firm's self-service kiosks bring in a profit while offering an alternative to long lines and steep fees.

OP resident to head credit union

John Morrison has been elected chief executive officer of Financial Trust Federal Credit Union, a $30 million-asset Cheektowaga credit union.

Apply For a Mbna Low Rate Credit Card Services

In earlier times, it used to be an easy decision to make but the number of companies now able to offer a credit a card has increased dramatically

Jack Henry & Associates Adds 30 Credit Unions to Client Roster During Fiscal Year 2008

Diversity among New Clients Demonstrates Industry-Wide Appeal of Symitar(TM) Solutions

S&P downgrades AirTran parent company

Standard & Poor’s Ratings Services lowered its ratings on AirTran Holdings Inc., parent of AirTran Airways, saying heavy losses

Business Highlights

Stocks sank in light trading Monday as worries about American International Group Inc. touched off broader concerns

U.S. Stocks Drop, Led by Financial Shares, AIG, Banks Retreat

U.S. stocks fell the most in a month as a Kansas bank's failure and speculation American International Group Inc. will post a loss heightened concern

Franklin Credit Management Receives Notice of Delisting From NASDAQ

Franklin Credit Management Corporation today announced that it received a notice from the NASDAQ Stock Market ("NASDAQ")

Assisted Living Concepts expands credit agreement

Assisted Living Concepts Inc. of Menomonee Falls said late Aug. 22 that it has amended an existing $100 million revolving credit agreement

Electronic Payment Processing Leader Adds Open Source Shopping Cart Solution

Magento Shopping Cart is Free and Easy to Integrate with PaySimple Solution 2.0

Amid the credit crisis, Puget Sound credit counselors also struggle

Consumer Counseling Northwest, a nonprofit that helps consumers with credit and housing problems, is contending with its own financial crisis.

To weather the storm, keep your house looking sharp

Home ownership is, by far, one of the most important tools Americans use to build wealth.

Fallout from the housing meltdown is reaching local credit unions, but the risk-averse institutions

During its first 73 years, San Diego Metropolitan Credit Union never lost money on a real estate loan.

AmEx could cut off credit to California employees

American Express Co. has warned California officials that it could cut off employees' credit cards if the state budget impasse drags on too long

Online Mbna Low Apr Credit Card Services

If a credit card is used properly, it can be the most powerful financial tool, but not everybody can afford all the expensive rates

Agriculture can be tough field to break into

Growing up on a farm, Roy Benjamin knew he wanted to spend his whole life on a farm.

Fitch Places AIG Ratings on Rating Watch Negative

Fitch Ratings has placed its ratings of American International Group, Inc. (AIG) and its insurance and financial services

Assisted Living Concepts, Inc. Expands Credit Facility by $20 Million

Assisted Living Concepts, Inc. ("ALC") announced an amendment (the "Amendment") to its $100 million revolving credit agreement

TRW to Webcast Presentation at the Credit Suisse 2008 Global Automotive Conference on September 4

Automotive Holdings Corp. will simultaneously webcast its upcoming presentation at the Credit Suisse 2008 Global Automotive Conference

Guest column: Credit counselors offer many services

When we hear the word “counseling,” we tend to think of a professional helping us with a specific situation.

More Flights Are Overbooked, but Payoffs Are Rising

The bad news: the likelihood that travelers will be bumped from an overbooked flight may grow worse this fall when airlines shrink

Firm Hired After Security Breach Faces State Probe

Gov. M. Jodi Rell said Thursday that she wants an investigation into a company the state hired to offer credit monitoring to people

Guest column: Credit counselors offer many services

When we hear the word "counseling," we tend to think of a professional helping us with a specific situation.

Farm Credit Bank of Texas Selects Jack Henry Banking to Provide Enterprise-wide Automation

Jack Henry Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services

US banks fight limits on credit changes

Frank Chan said he had been a loyal Citibank cardholder for 20 years when he was told by a customer service agent that stopping a check payment would cost him $29.

American Solar Electric Ranks No. 22 on the 2008 Inc. Top 100 Energy Companies with Three-Year Sales

Inc. today ranked American Solar Electric No. 475 on its annual ranking of the 5,000 fastest-growing private companies in the country.

Farm Credit Bank of Texas Selects Jack Henry Banking(TM) to Provide Enterprise-Wide Automation

Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services

Credit Solutions Makes Inc. 5000 List of Fastest-Growing Private Companies Driving the U.S. Economy

Credit Solutions has been named to Inc. Magazine's 2008 list of the 5000 fastest-growing privately held, for-profit companies in the nation

New England Credit Union Unifies Rural Communications

Looking to save more than $100,000 a year through increased productivity, reduced travel, and time-saving functionality

Feds credit state on welfare aid

The Indiana Family and Social Services Administration, along with private contractors handling the eligibility process

Currency Crisis: Sending Money

As more people travel, live and conduct business abroad, sending money across borders has become a huge industry.

American Savings Bank Launches TravelAwards Plus Online Mall from Mall Networks

Mall Networks and RewardsNOW Integrate Solutions to Combine Loyalty Shopping and Rewards Programs for Financial Services

On the Services Side of Unified Communications

For a lot of organizations, engaging a communications integrator is the first step towards implementing unified communications

Web Merchant Enlists Power Players to Fight Credit Card Fraud

IBM Power Systems(TM) and IBM i Solutions Help Merchants Stop Identity Theft

Sparta Commercial Services, Inc. Launches Its New iPlus(R) 2.0 Point of Sale Credit Decisioning

Sparta Commercial Services, Inc. (OTCBB: SRCO) a national provider of consumer finance solutions to the powersports industry

ePlus Adds Vice President of National Professional Services to Management Team

ePlus inc. (PINKSHEETS: PLUS) today announced the appointment of Martin Steinhobel as Vice President of National Professional Services.

Dodger Trade For Maddux

The Dodgers announced Tuesday that they have acquired Greg Maddux and received cash from San Diego for two minor league players

RMCN Credit Services, Inc. is No. 408 in the Inc. 500

No. 408 RMCN Credit Services McKinney, TX Year: 2008

Who wins in a credit crunch? Ask the person with cash

The U.S. financial system crisis -– a.k.a. the credit crunch -- is one year old this month and showing signs of getting worse instead of better

Consumer cutbacks nick Target

Sales are flat and the retailer's credit card business is hurting.

MediaG3 Signs Long Term Rich-Media Service Contract

MediaG3, Inc. (OTCBB: MDGC), a leading developer for broadband wireless product and interactive rich-media content delivery applications

MEGA Brands announces amendments to its credit facilities and the closing of a CA$75 million private

MEGA Brands Inc. (CA:MB: news, chart, profile) (the "Corporation") is pleased to announce today that it has received lender approval for certain amendments

Diebold End-to-End Solutions Extend Visibility, Enhance Service Delivery for Financial Resources

Financial institution rejuvenates brand, increases customer convenience with Diebold ATM fleet upgrade

Haights Cross Communications Announces Refinancing of Existing Credit Facility

Haights Cross Communications, Inc. (HCC) today announced that on August 15, 2008 its wholly owned subsidiary

Republic Services lines up lenders, prepares for merger with Allied Waste

Republic Services Inc. said Monday it has lined up lenders for a $1.75 billion line of credit that would give it the financing

Family First Federal Credit Union Enhances Its Management Team

Todd Hatfield Hired as Assistant Vice President, Mortgage Development and Cindy Kelly Promoted to Assistant Vice President, Business Development

Financial Services Industry Banks on Imprivata for Converged Identity and Access Management

Momentum Continues as Financial Services Customers Make OneSign Their Choice for Strong Authentication Management, Single Sign-on and Physical/Logical Convergence

Republic Services Announces Bank Facility Commitments for Proposed Merger with Allied Waste Ind.

Republic Services, Inc. today announced that Bank of America Securities LLC and J.P. Morgan Securities Inc. have arranged a syndicate of lenders

Community Service: Hire a Former Felon, Get a Tax Credit

Tax credits are coveted by small business owners across the country, but one new tax credit, benefitting both employer and employee, is hardly criminal.

Credit unions are safer than you think

On the same day last week that my column about deposit insurance at credit unions ran, The Wall Street Journal had a front-page story

Finance industry encourages consumers to pay bills with plastic

With more Americans struggling to pay for basic living expenses, a small but growing segment of the finance industry

Smart money talk wise for the college-bound

A few years ago, Corey Fraher asked his parents why he hadn't received dozens of credit card applications in the mail

Bigger bid possible for trash hauler Waste Management

It might have to add stock to buyout offer for rival Republic

Muzak Holdings LLC Announces Second Quarter Results

Operating Summary (excludes DMX transaction related amounts): EBITDA increases 4.2% for the quarter over prior year; increases 7.2% on a sequential quarter basis

Fitch Downgrades BMHC's IDR to 'B-'; Ratings Still on Watch Negative

Fitch Ratings has downgraded the following ratings on Building Materials Holding Corporation : --Issuer Default Rating (IDR) to 'B-' from 'B';

Pacific Energy Resources Ltd. Announces Results for the Second Quarter of 2008

Pacific Energy Resources Ltd. (TSX: PFE: 19.93, -0.04, -0.20%) (the "Company") today announced the release of its operating and financial results

SEDONA Announces Second Quarter Operating Results

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

LifeCare Holdings, Inc. Announces Second Quarter Results

LifeCare Holdings, Inc. (the "Company") today announced its operating results for the three and six month periods ended June 30, 2008.

Kinecta Federal Credit Union Celebrates the Anniversary of Nix Check Cashing Acquisition

Unique Partnership Brings Credit Union Services to Areas Underserved by Traditional Financial Institutions

MeridianLink Technology Assists With CU Merger

Public Service Credit Union and MeridianLink Partners in Growth

Community Bankers Trust Corporation Reports Second Quarter Earnings and Strong Credit Quality

Community Bankers Trust Corporation (the "Company" or "CBTC") today reported its second quarter results of operations

American Eagle Federal Credit Union Reports Strong Mid-Year Performance

American Eagle Federal Credit Union reported strong mid-year financial performance for the period January through June 2008.

Successful Financial Literacy Program Improves Consumer Credit Scores by an Average of 68 Points

Operation HOPE Banking Center Network Programs Help Members Make Dramatic Changes in Credit Score and Lending Favorability

New MoneyWi$e Interactive Financial Education Resource Launches Online

Financial Education eLearning Modules Include Printable Tip Sheets Covering Topics from Developing a Budget to Investing in Your Future

Debt collector may add 700 jobs

A Buffalo company built on debt collection is looking to create as many as 700 new local jobs through a new credit card servicing operation.

B/E Aerospace, Inc. to Present at Credit Suisse Conference; Confirms Earnings Guidance

B/E Aerospace, Inc., the world's leading manufacturer of aircraft cabin interior products and the world's leading distributor of aerospace fasteners

BoostMyScore.NET Declares FICO 08 Piggybacking Credit Score Elimination a Propaganda Scare

In Congressional testimony last Tuesday, Fair Isaac Corp., creator of the FICO credit score, acknowledged that a decision to end piggybacking had been reversed.

Security Flap Slams Wells Fargo Over Data Breach

Bank loan-approval staff under a microscope after about 5,000 consumer names stolen.

UPDATE 2-Credit crisis halfway over "at best"; Alt-A next-S&P

A year-long credit crisis may be only halfway over and defaults of prime mortgages and problems at U.S. bond insurers

Elan Financial Services Offers Tool to Help Financial Institution Clients Grow Revenue

Elan Financial Services is offering an innovative, Web-based management and communications tool called the enhanced Client Resource Center

Buckeye Energy Services Selects SolArc to Provide Energy Marketing and Risk Management Solution

Buckeye Energy Services (BES), a rapidly growing refined products marketing organization and a subsidiary of Buckeye Partners, L.P.

VeriSign Wins Network Products Guide Reader Trust Award for Best in Multi- and Second-Factor

VeriSign Identity Protection (VIP) Authentication Service Selected as 2008 Best Products and Services Winner for "Best Multi- and Second-Factor Security"

DIRECTV(R) High Definition Services Help Drive MDU Communications' Third Fiscal Quarter '08 Results

DIRECTV's 130 channels of HD programming, advanced services and focus on the multi-family market help propel Company's third fiscal quarter results

JPMorgan shares sink on new mortgage losses

JPMorgan Chase & Co.'s share price had its biggest slump in six years after reporting a $1.5-billion (U.S.) loss on mortgage-backed

Disclosure Is the Best Kind

The Federal Reserve Board recently issued proposed amendments to Regulation Z, which governs Truth in Lending.

EVault Experiences Rapid Customer Growth Providing Credit Unions With Backup and Recovery Solutions

EVault, Inc., a Seagate Technology (NYSE:STX) company and leader in online backup and recovery, today announced that rising demand

Center 7 to Provide Hosting and Data Protection Services to Family First Federal Credit Union

Center 7, Inc., a leading provider of colocation and hosted business solutions in Utah and the Intermountain West, announced today that Family First Federal Credit Union

More Than Half of Southland Households Can Receive Free Identity Theft Monitoring Through the Auto

In one of the biggest additions to member benefits in recent history, the Automobile Club of Southern California's six-million-plus members

Credit Repair Lead Company Adds Loan Modification Leads To It's Company Services

Credit Repair Lead Generation Company iCreditLeads.com has expanded operations and now offers loan modification leads.

North Carolina State Employees' Credit Union Extends ATM Armored Services with Pendum

Pendum LLC, the nation's largest independent provider of ATM maintenance and armored services, today announced the extension of an agreement with North Carolina State

U.S. informant helped run theft ring

As an international ring of thieves plundered the credit-card numbers of millions of Americans, investigators struggled to figure out who was orchestrating the crimes

Programs Help New Businesses Get Established Amid Challenging Economic Environment

Business Credit Services, Inc., a pioneering provider of financial solutions for small business owners, today announced three new programs

TraceSecurity and Wescom Resources Group Announce Partnership to Provide Added Online Banking Sec.

TraceSecurity's External Penetration Testing will be included for all New MemberEdge Customers BATON ROUGE, La. and PASADENA, Calif., Aug 11

Westcon Group North America Creates Emerging Partner Credit Program to Help VARs Continue Growth

Personalized Program Enables Qualified Westcon Group Resellers to Access Credit Lines of $10,000 or More

MicroBilt Guarantees "Red Flag" Identity Theft Prevention; Helps Small Businesses, Consumers Recoup

With the November 1 deadline for compliance with new FTC regulations fast approaching, MicroBilt Corp. is backing its "Red Flag"

Waste Management Raises Bid for Republic

Waste Management on Monday raised its unsolicited bid for a rival Republic Services, to $6.73 billion in cash as it seeks to wrest its smaller rival from an already-agreed deal with Allied Waste

Charging Ahead

With so many credit-card companies targeting small businesses, it pays to find the right one for you

Digital Dialogue Enhances Total Member Care Suite with DigiKnow

Online knowledge base tool centralizes data for credit union staff, members

College students' credit card debt spurs concern

As the fall semester beckons and financial aid from parents and the government runs dry, more college students are turning to credit cards

Knowing Deposits Insured Will Allay Fears About Your Bank

Three bank failures in three weeks. More are expected this year. Could your institution be next?

Criminals eye home equity

Homeowners who have significant equity may be well-advised to check their credit reports frequently.

Credit Card Industry Faces Reforms

Stricter regulation of the credit card industry will probably be approved by the end of the year, consumer advocates

GATX May Buy GE's Rail-Service Unit for as Much as $3.5 Billion

GATX Corp., the Chicago-based lessor of freight cars, is offering more than $3 billion for General Electric Co.'s Rail Services unit, people familiar with the discussions said.

United Security Bancshares, Inc. Reports Growth in Second Quarter Income

United Security Bancshares, Inc. today reported that net income grew to $1.5 million, or $0.25 per diluted share, for the second quarter ended June 30, 2008

Electronic Funds Transfer Association Names Raymond T. Crosier Chairman of the Board

The Board of Directors of the Electronic Funds Transfer Association (EFTA) today announced the election of Raymond T. Crosier

S&P: Harley off CreditWatch, credit arm rating cut

Standard & Poor's Rating Services has removed all of Harley-Davidson Inc.'s ratings from CreditWatch and cut ratings

Hanger Orthopedic Group, Inc. Receives Positive Outlook from Moody's Investors Service

Hanger Orthopedic Group, Inc. is pleased to announce that Moody's Investors Service revised its outlook for Hanger Orthopedic Group

Oak Ridge Financial Services Announces "Near Record" Second Quarter Net Income and Solid Asset

Oak Ridge Financial Services, Inc. , the holding company for Bank of Oak Ridge, today reported near record quarterly net income of $384,000

Permissible piggy-backing

The company that creates the algorithms which are used to generate credit scores has found a way to restore authorized-user credit accounts to the calculations while still mitigating the abusive practice known as "piggy-backing."

Moody's sends Chrysler further into junk status

Moody's Investors Service on Thursday lowered several of its ratings on Chrysler LLC affecting about $9 billion in debt

Moody's places American Express on review

Moody's places American Express on review for possible downgrade

Haley Takes Aim at Credit Crisis With Appointment of Matthew Nestor as Strategic Account Director

Natural-Language Rules Platform a Boon to Banks Dealing With Tighter Standards and Regulations for Commercial and Residential Lenders

Cruise Deals: eCruises.com Offers up to $400 Onboard Cruise Credit, Three-Category Upgrade

eCruises.com ( http://www.eCruises.com) is awarding cruise travelers up to $400 onboard credit and a three-category upgrade

AIG Posts $5.36 Billion 2Q Loss on Credit, Capital Market Problems

Credit-market problems and investment losses continued to haunt American International Group Inc., as the multiline insurer

Credit Report Tells Woman She's Dead

There are many reasons to check your credit report and you can get a free copy from each of the credit bureaus every year.

Freddie loses $821 million on housing, credit crunch

Freddie Mac, the second-biggest U.S. buyer of mortgages, reported Wednesday a quarterly loss of $821 million

Millions of Americans Victimized by "Largest Ever" Identity Theft Ring; Existing Industry Safeguards

"Status Quo" in the Banking and Credit Industry Exposes Millions to Global Identity Theft Threats

Terex to Present at Jefferies Industrial CEO Summit and Credit Suisse Electrical Equipment

Terex Corporation today announced that it will participate in the Jefferies Industrial CEO Summit at the Broadmoor in Colorado Springs

Feds charge 11 in TJX ID fraud case

Federal prosecutors announced on Tuesday that they had indicted eleven people in the largest case of identity theft and hacking ever