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Finance Research News - March, 2008















HOME :: RESEARCH :: FINANCE :: NEWS :: ARCHIVE

Credit Research News - March, 2008



Dell Examining Options for Financial-Services Unit (Update2)

Dell Inc., the world's second- biggest personal-computer maker, may sell the unit that helps customers finance purchases as part of a plan to save $3 billion a year by 2011.



Bibby Financial Services Opens in Houston

Bibby Financial Services has expanded its U.S. business with a Client Service Center in Houston, Texas, headed up by Dominique Villarreal



Wolters Kluwer Financial Services Introduces New Customizable Motor Vehicle Lease Agreements

To meet the growing demand for paperless finance transactions within the auto finance industry, Wolters Kluwer Financial Services today announced that it is offering auto



Discover Financial Services Names New Chief Accounting Officer

Discover Financial Services today announced that Kevin Killips has been named controller and chief accounting officer.



Bush Seeks Financial Regulation Overhaul

The Bush administration is proposing a sweeping overhaul of the way the government regulates the nation's financial services industry



A Statement from Steve Bartlett, President and CEO of The Financial Services Roundtable

The Roundtable Applauds Treasury's Blueprint for Regulatory Reform Stresses the Urgent Need for a More Effective Regulatory Structure



Paulson Proposes Sweeping Reforms for Regulating the Financial System

Seeking to streamline an increasingly outdated and convoluted regulatory system, the Bush Administration on Monday



Discover Financial Services Names New Chief Accounting Officer

Discover Financial Services today announced that Kevin Killips has been named controller and chief accounting officer.



Policy Makers Have Mixed Response To Treasury Plan

The U.S. Treasury Department's wide-ranging plan to overhaul the financial services industry and its regulation



Keeping U.S. Financial Markets Competitve

The plan to overhaul the regulation of U.S. financial markets that Treasury Secretary Henry Paulson will announce on Monday morning



Treasury’s Summary of Regulatory Proposal

The mission of the Department of the Treasury ("Treasury") focuses on promoting economic growth and stability in the United States.



Financial Group Spent $6.4M Lobbying

The Financial Services Roundtable, which represents more than 100 large banks, insurance companies and others in the financial services industry



Fitch Rates Wilmington Trust's Subordinated Debt 'A'

Fitch Ratings has assigned a long-term rating of 'A' to Wilmington Trust Corporation's (Wilmington) issuance of $200 million in subordinated notes.



Fitch Affirms Wisconsin General Fund Annual Appropriation $798.1MM Rfdg Bonds at 'A+'

Fitch Ratings affirms its underlying rating on the State of Wisconsin's general fund annual appropriation refunding bonds at 'A+'.



Adding debt is not the answer for Ohio

Every two years, the Ohio Legislature is responsible for passing a balanced budget for the state of Ohio.



Cenveo Announces Timing of Form 10-K Filing

In response to numerous shareholder inquiries Cenveo, Inc. (NYSE: CVO: 10.31, -0.08, -0.76%) announced today that it currently intends to file



Dangerous Dithering

"Neither man nor his property is safe while the legislature sits," goes an old maxim.



The PNC Financial Services Group to Report First Quarter Earnings April 17

The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that it expects to issue financial results for the first quarter of 2008



Nationwide Financial Services Selects Information Builders WebFOCUS as Its Operational

Operational Reporting Standard to Consolidate Infrastructure and Customize Reports for Leading Insurance and Financial Services Company



RR Donnelley and EDGAR Online Launch TryXBRL.com

R.R. Donnelley & Sons Company (NYSE: RRD: 29.20, -0.33, -1.11%) and EDGAR Online(R: 62.18, -0.85, -1.34%), Inc. (NASDAQ: EDGR: 2.42, +0.06, +2.54%) announced today that they have collaborated



Verint’s Impact 360 for Retail Financial Services Enhances U.S. Bank’s Workforce Management

U.S. Bank customers benefit from Verint Witness Actionable Solutions’ workforce optimization solution.



Nationwide Financial Services Selects Information Builders WebFOCUS as Its Operational Reporting

Information Builders, the independent leader in production business intelligence (BI: 0.75, -0.02, -2.59%) systems



Newtek Business Services Reports Full Year 2007 Financial Results

Newtek Business Services, Inc. (Nasdaq:NEWT) (www.newtekbusinessservices.com), a provider of business services and financial products



Financial Services Roundtable Chairman Tom Renyi Calls for Better Financial Regulation

Tom Renyi, Executive Chairman of The Bank of New York Mellon and Chairman of The Financial Services Roundtable



PLS Financial Services, IPP launch the PLS ePay bill payment application

Check-cashing organisation PLS Financial Services has teamed up with electronic payment services provider IPP of America



First Cash Financial Services names Steve Coffman as COO

First Cash Financial Services (NASDAQ:FCFS) Inc. said Tuesday it has named Stephen Coffman as chief operating officer.



Syniverse Launches CDMA Financial Services

Syniverse Financial Settlement Services (FSS), a new offering designed to meet CDMA operator demand for cost-effective



Arkeia Software Forms Financial Services Business Unit

Arkeia Software, the leading provider of powerful, innovative data protection software, launched a Financial Services business unit



Insightful Corporation Announces Financial Services Enterprise Deployment Win

Insightful Corporation (NASDAQ:IFUL), a leading provider of predictive analytics and reporting solutions, announced today that a fund of hedge funds in Europe



Financial Statement Services, Inc. (FSSI) Successfully Completes Type 1 SAS 70 Audit

Santa Ana-based FSSI has successfully completed an independent SAS 70 Audit of its document processing and online statement presentment



Encompass Financial Services offers many services

While the subprime mortgage crisis continues to make headlines in national news, the situation isn’t all doom-and-gloom in Tom Evans’ corner of the world.



TCS selected to power electronic-signature infrastructure for US-based financial services leader

TCS, IT services, business solutions and outsourcing organisation, on March 24 announced that it has been selected to provide FormSigner PRO, TCS's flagship enterprise electronic signature platform



TSX Financial Services, Biovail – Vialoux

The TSX Financial Services Index ($SPTFS: 183) finally is showing short term technical signs of bottoming.



Banks need to be treated like children

Ideally, the government shouldn't have to monitor the actions of big banks. But the Bear Stearns mess proves Wall Street needs to be saved from itself.



Page offers mix of financial services

Jeff Page has opened the Page Financial Group at 6229 14th St. W., in Bradenton.



Community Bankers Acquisition Corp., TransCommunity Financial Corporation and BOE Financial Services

Community Bankers Acquisition Corp. ("CBAC") (Amex: BTC), TransCommunity Financial Corporation ("TFC") (OTC Bulletin Board: TCYF)



ABC's Claire Shipman Blames Republicans for Current Financial Crisis

As media continue to report current economic conditions as being almost Depression-like, they conveniently forget which political party



Fed's Moves Bring Praise, New Scrutiny

The Federal Reserve has taken its boldest action since the Great Depression, invoking rarely used powers in an effort to contain a panic threatening



The week ahead

Existing home sales are expected to show a decline in February, the seventh consecutive monthly decline.



PLS Financial Services and IPP Partner to Provide Fully Integrated Bill-Payment Solution at PLS

PLS Financial Services and IPP of America (IPP) have partnered to create PLS ePay, a fully integrated walk-in bill payment solution



First Commonwealth Hires J. Eric Renner as Executive Vice President / Consumer Services

Mr. Renner joins First Commonwealth from National City Corporation, where he served as Executive Vice President / Business Banking State Sales Executive



National City downgraded by S&P

Financial services gets poor outlook rating due to risk from shaky housing, mortgage markets.



Frank Urges Forming Financial-Services Risk Regulator (Update3)

U.S. Representative Barney Frank said Congress should consider creating an agency to monitor risk across markets



Fremont to sell some mortgage servicing rights to Carrington Mortgage Services

Fremont General Corp. has agreed to sell to Carrington Mortgage Services LLC the mortgage servicing rights to loans



Hallmark Financial Services Q4 net income up

Insurance company Hallmark Financial Services has reported a net income of $7.1 million for the fourth quarter ended December 31, 2007



Center Bancorp, Inc. Announces Outsourcing Partnerships With Compushare, Inc. and PHH Mortgage

Center Bancorp, Inc. (NASDAQ: CNBC), parent company of Union Center National Bank, today announced the Corporation had signed two strategic



Traxis Financial Group® Selects Software Solutions Rapport® and ProFinia®

International Decision Systems, Inc. announced that Traxis Financial Group has selected Rapport and ProFinia



Panel Chairman Calls for a Risk Regulator

The chairman of the House Financial Services Committee called Thursday for Congress to consider creating a “financial services risk regulator”



Financial Services Execs Drowning in Underwater Stock Options

Senior executives in the financial services industry, along with the rank and file, are sharing the pain with stockholders



Streetinvesting.com: Progressive Following on Hartford Financial Services Group Inc

Streetinvesting.com has now resumed our progressive review of Hartford Financial Services Group Inc (NYSE:HIG) after it traded up 4%



Financial Services and E-Commerce

We enter 2008 amid the housing and mortgage bust which has, as night the day, followed the housing and mortgage bubble.



PNC Financial Services (PNC) NewsBite - PNC Rallying on Interest Rates Cut Hopes

PNC Financial Services Group Inc. (PNC) opened at 62.66. So far today, the stock has hit a low of 62.39 and a high of 64.44.



GMAC Financial Services names Alvaro de Molina CEO, effective April 1

GMAC (NYSE:GM) Financial Services Tuesday named Alvaro de Molina chief executive officer, effective April 1.



Gartner: Financial Services Industry Led Vertical Markets for Worldwide Server Revenue in 2007

The financial services industry (including three major subsegments: investment services, banking and insurance)



PNC Financial Services Group Inc. (PNC) opened at 62.66. So far today, the stock has hit a low of 62

GE Energy Financial Services, an investor in the energy and water industries and a business unit of General Electric Company



Discover Financial Services Announces Financial Community Briefing

Discover Financial Services (NYSE:DFS) plans to host a Financial Community Briefing in New York on Thursday, March 20



Midday Glance: Financial Services

Shares of JPMorgan Chase & Co. jumped nearly 10 percent on Monday on news of its bargain-basement takeover of Bear Stearns Cos.,



Ezcorp to Buy Value Financial Services

Ezcorp Agrees to Acquire Value Financial Services in $100 Million Deal



Ladenburg Thalmann Financial Services Q4 Earnings Rise - Quick Facts

Ladenburg Thalmann Financial Services Inc. (LTS | news | PowerRating | PR Charts ) on Monday announced financial results for the fourth quarter



A.M. Best Affirms Ratings of Nationwide Financial Services, Inc.; Comments on Privatization

A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of "aa-"



Who is your financial adviser working for, anyway?

That may be the most common phrase in all the reader mail I receive.



Community Banks Build "Ecosystem" of Financial Services and Products

In an effort to compete with multi-billion dollar financial institutions that are able to offer their customers the most advanced in banking technology, some community banks have begun building an ecosystem of financial services and products that allows them to pool resources and expertise in nearly every facet of banking.



Stamos Nicholas, Deloitte Financial Advisory Srvcs. to Speak at Knowledge Congress’ Event

The Knowledge Congress, the leading producer of regulatory focused teleconferences has announced today that Stamos C. Nicholas, Principal, Valuation Services of Deloitte Financial Advisory Services



First Cash Financial Services OKs buyback of up to 3M shares

First Cash Financial Services Inc. late Friday said its board has authorized the buyback of up to 3 million shares of its common stock.



The Centre for Financial Services and IPSA International Announce MSB Certificate Program

The Centre for Financial Services (CFS) at Seneca College is pleased to announce the Financial Services Compliance Administration (FCA)



A.M. Best Assigns Issuer Credit Ratings to COUNTRY Insurance & Financial Services and Its Affiliates

A.M. Best Co. has assigned issuer credit ratings (ICR) of “aa-” and affirmed the financial strength ratings (FSR) of A+ (Superior)



University of Texas hires new loan services director

The University of Texas hired a former vice president of the National Student Loan Program to oversee the school's on-campus financial aid resource office.



Rand Financial Services, Inc. Announces Connectivity to MexDer through Patsystems

Rand Financial Services, Inc. Announces Connectivity to MexDer through PatsystemsCHICAGOIL-RAND-FINANCIAL



Financial services firm facing lawsuit

A group of state and municipal governments, including Mississippi, Chicago and Fairfax County, Va., said Friday



Microsoft releases financial services OBA component library

Microsoft has released the Financial Services Office Business Applications component library, a software package that is designed to help organizations solve the problems related to interoperability and extending legacy systems.



New Director of Student Financial Services Named at The University of Texas at Austin

Dr. Thomas Melecki, former vice president for the National Student Loan Program (NSLP), has been appointed director of student financial services



A.M. Best Assigns Issuer Credit Ratings to COUNTRY Insurance & Financial Services and Its Affiliates

A.M. Best Co. has assigned issuer credit ratings (ICR) of “aa-” and affirmed the financial strength ratings (FSR) of A+ (Superior) of COUNTRY Insurance & Financial Services



Berman DeValerio Announces Arbitration Claim Filed Against UBS Financial Services, Inc.

An investor has filed an arbitration claim against UBS Financial Services, Inc. ("UBS Financial" or the "Company"),



Strategic IT takes stage at financial services firm

In the mid-1990s, IT was perceived as a cost center at Robert W. Baird & Co. Inc., said Chairman and CEO Paul Purcell.



Sixth Annual Microsoft Financial Services Developer Conference features High-Performance Computing,

Now in its sixth year, the Microsoft Financial Services Developer Conference is a leading event for developers and architects



GE Healthcare Financial Services Closes $160 Million Deal with Odyssey HealthCare, Inc.

GE Healthcare Financial Services has provided a $160 million senior secured credit facility to Odyssey HealthCare, Inc.,



Rand Financial Services, Inc. Announces Connectivity to MexDer through Patsystems

Rand Financial Services, Inc. now offers connectivity to the Mexican Derivatives Exchange (MexDer) through Patsystems.



Microsoft Releases Financial Services OBA Component Library, Giving Firms a Head Start

Helping financial services firms solve real-world problems in the areas of interoperability, extending legacy systems and creating compelling user interfaces



Offshore Financial Services Firm, Lines Overseas Management (LOM) Selects SS&C's CAMRA

(Business Wire) SS&C Technologies, Inc. (www.ssctech.com), a global provider of financial services software and software-enabled services



Wolters Kluwer Financial Services Introduces Disclosure Manager™

Robust Solution Allows Mortgage Lenders To Automate Entire Initial Disclosure Process While Outsourcing Production And Mailing Of Paper-Based Disclosures



Steve Barnes Joins Pcubed as Vice President Financial Services, North America

Pcubed - the global leader in helping organizations deliver their most critical and complex portfolios, programs and projects



A.M. Best Affirms Ratings of Nationwide Financial Services, Inc.; Comments on Privatization

A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of ?aa-?



A.M. Best Affirms Ratings of Nationwide Financial Services, Inc.; Comments on Privatization

A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR)



House Financial Services Committee hearing on HUD

At the House Financial Services Committee Full committee hearing on the Housing and Urban Development Department’s (HUD)



CIR FY net down 18.3 pct after Oakwood financial services JV write-down

Compagnie Industriali Riunite SpA said full year 2007 net profit fell 18.3 pct to 82.6 mln eur, hit by a 64.6 mln eur write-down



Nationwide Financial Parent Offers $2.2 Bln Buyout

Nationwide Mutual Insurance Co on Monday offered to buy all the publicly listed shares of Nationwide Financial Services Inc



Nationwide Financial Services Inc forms bullish "Head and Shoulders Bottom" chart pattern

A "Head and Shoulders Bottom" chart pattern formed on Nationwide Financial Services Inc (NFS on NYSE).



Sixth Annual Financial Services Developer Conference to Showcase Latest Technology Advancements

Customers and partners to highlight next-generation tools including Microsoft Silverlight, Financial Services Office Business Applications Component Library



S&P Puts Nationwide Ratings on Watch

One debt rating agency affirmed its investment-grade designation of Nationwide Financial Services Inc. but another put its ratings on watch



GE Healthcare Financial Services Closes $95 Million Deal with EKR Therapeutics, Inc.

GE Healthcare Financial Services has provided a $95 million senior secured credit facility to EKR Therapeutics



Hitachi Consulting Acquires Leading Financial Services Industry Consulting Firm JMN Associates

Hitachi Consulting, the global consulting company of Hitachi, Ltd. (NYSE: HIT), announced today that it has acquired JMN Associates



CoBiz to Present at Sandler O'Neill + Partners' West Coast Financial Services Conference

CoBiz Financial (Nasdaq: COBZ) will present at the Sandler O'Neill + Partners' West Coast Financial Services Conference.



FBI Reportedly Investigating Countrywide Financial Services' Subprime Loan Backed Securities

Mortgage lender Countrywide is reportedly being investigated by the FBI for its lending practices and possible securities fraud, according to reports.



Ameriprise to Begin Issuing MasterCards

Asset manager Ameriprise Financial Services Inc. is pairing up with MasterCard Inc. to become a credit card lender for the first time



Center to offer financial services

For years, Gainesville’s Community Service Center has provided short-term emergency assistance to people who need help



Phillip Wasserman and Phillip Roy Financial Services Announce the Commission of a Study on Equity

Phillip Wasserman, one of the nation’s leading experts on annuities and president of Phillip Roy Financial Services, one of the nation’s largest sellers of annuities



First Investors Financial Services Q3 Profit Rises

First Investors Financial Services Group, Inc. (FIFS.OB) reported third quarter net income of $899 thousand or $0.19 per share



Financial services chiefs face congressional questioning

Top banking industry executives are due on Capitol Hill Friday for an expected grilling by House Oversight and Government Reform Committee Chairman Henry Waxman.



Bank of Marin Bancorp to Present at West Coast Financial Services Conference March 11

Bank of Marin Bancorp (Nasdaq:BMRC), parent company of Bank of Marin, announced today that President and CEO Russell A. Colombo



Rice Financial buys Harry James Financial Services

Rice Financial Group Inc. has acquired 80% of Harry James Financial Services Ltd., a financial advisory firm in Markham, Ont.



BNY Mellon Asset Servicing Selected by IPCRe Limited as Global Custodian

BNY Mellon Asset Servicing, the global leader in asset servicing, has been selected by IPCRe Limited, a Bermuda



QSGI Announces Major Data Security & Compliance Contract; Financial Services Customer Agrees to Use

QSGI, Inc. (OTCBB: QSGI), the only provider of a full suite of information technology services to help corporations better manage hardware assets



Central Valley Community Bancorp CEO to Present at West Coast Financial Services Conference March 11

The Board of Directors of Central Valley Community Bancorp (Company) (NASDAQ: CVCY), the parent company of Central Valley Community Bank (Bank),



Nara Bancorp to Present at Sandler O’Neill West Coast Financial Services Conference

Nara Bancorp, Inc. (NASDAQ: NARA) today announced that it will be participating in the Sandler O’Neill West Coast Financial Services Conference



Ladenburg Thalmann buys investment bank

Ladenburg Thalmann Financial Services said it has agreed to buy Punk, Ziegel & Co. L.P., a New York City specialty investment bank, for an undisclosed amount.



PNC Financial Services Elects Stephen Wynne As PFPC CEO; Timothy Shack To Remain As Chairman Of PFPC

PNC Financial Services Group, Inc. (PNC), a diversified financial services provider, said it elected Stephen Wynne



Boenning & Scattergood Hires Second Financial Services Analyst

Boenning & Scattergood, Inc., a leading independent investment firm in the Mid-Atlantic region, has announced the addition of Jason O’Donnell as Senior Research Analyst



GigaSpaces to Exhibit at the 6th Annual Microsoft Financial Services Developer Conference

GigaSpaces to Preview Its Scalable, Low Latency Solution for Microsoft Excel-Based Applications



PNC Financial Services Names Stephen Wynne CEO, PFPC Investment Services

PNC Financial Services Group Inc. (PNC) named Stephen Wynne chief executive of PFPC, PNC's provider of global investment services.



Reliant Energy's secured debt facilities rating raised to 'BB-' - S&P

Standard & Poor's (NYSE:MHP) Ratings Services said it has raised its rating on US-based electricity provider Reliant Energy (NYSE:RRI) Inc's



Federal Street Advisors Strengthens Financial Services Offering to Foundations and Non-Profits

Names Firm Veteran Jennifer Christian Murtie to Newly Created Position of Director of Foundation Services



David Taber of American River Bankshares to Speak at Financial Services Conference

David Taber, President and CEO of American River Bankshares, is scheduled to speak on the Central Valley (Northern California) Banks Panel



UCBH Holdings, Inc. to Present at the Sandler O'Neill West Coast Financial Services Conference

UCBH Holdings, Inc. (NASDAQ:UCBH), the holding company of United Commercial Bank (UCB(TM: 105.57, +0.31, +0.29%)), announced that it has been invited to present



Riverview to Present At Sandler O'Neill West Coast Financial Services Conference

Riverview Bancorp, Inc. (Nasdaq:RVSB) today announced plans to participate in a Pacific Northwest Banking Panel at the Sandler O'Neill & Partners 2008



New taping rules from FSA

New regulations regarding the sale of equities, bonds and derivatives have been published by the Financial Services Authority (FSA).



Exante Financial Services Becomes OptumHealth Financial Services

OptumHealth today announced its financial services unit, Exante Financial Services, will now operate under the name OptumHealth Financial Services.



Banks.com, Inc. to Offer Financial Rate Data from Informa Research Services, Inc.

Banks.com, Inc. (AMEX:BNX), a leading financial services focused web property, announced today that it has entered into a two-year agreement with Informa Research Services



Eichner will leave Enterprise Financial Services Corp.

Kevin C. Eichner, a co-founder of Enterprise Financial Services Corp., will step down as president and chief executive May 1



Wolters Kluwer Financial Services to Offer Linklaters’ Blue Flag Legal Compliance Services Solutions

Wolters Kluwer Financial Services today announced that it is contracting with Linklaters, a leading international law firm, to offer the Legal Compliance Services solutions



Buffett Pulls Monoline Bailout Offer

Warren Buffett's Berkshire Hathaway (BRK.A - Cramer's Take - Stockpickr) has withdrawn an offer to assume hundreds of billions of dollars



Fleetwood Announces Launch of Fleetwood Financial Services

Fleetwood Enterprises, Inc. announced today that it is launching Fleetwood Financial Services (FFS), a new RV finance unit


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