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Credit Card Crunch (Portfolio.com via Yahoo! Finance)
Meredith Whitney has a piece in the FT which is full of extremely large numbers: Capital destruction has been so intense that multi-trillions in capital raised by institutions through both private and public capital has gone to plug holes and not stabilise the effects of shrinking liquidity to corporations and consumers.
'Gas Man' Sentenced For Role In Credit Card Mastering Scheme (Rockbridge Weekly)
December 1, 2008 - Acting United States Attorney Julia C. Dudley announced today that Dereck Lorenzo Dunston, age 40, of Evington, Virginia was sentenced in the United States District Court for the Western District of Virginia in Lynchburg after previously pleading guilty to a variety of fraud charges related to a credit card mastering scheme that operated throughout the Western District of ...
Va. man sentenced in credit-card fraud scheme (WRIC 8 News Richmond)
Associated Press - December 1, 2008 5:15 PM ET LYNCHBURG, Va. (AP) - A man who admitted using phony credit cards in a fraud scheme will spend 3 1/2 years in a federal prison.
Credit-card fraud scheme sentence (5:41pm) (CBS 6 Richmond)
LYNCHBURG, Va. (AP) - A man who admitted using phony credit cards in a fraud scheme will spend 3½ years in a federal prison. Acting U.S. Attorney Julia Dudley said 40-year-old Dereck Dunston of Evington was sentenced Monday.
Customers getting squeezed as credit card companies clamp down (Austin American-Statesman)
WASHINGTON — Cecil Bello has stumbled into a new corner of the credit squeeze. The 32-year-old management consultant has had the limits reduced on three of her credit cards.
(AFX UK Focus) 2008-12-01 11:48 UPDATE 2-Credit-card industry may cut $2 trln lines - analyst (Interactive Investor)
Dec 1 (Reuters) - The U.S. credit-card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said. The credit card is the second key source of consumer liquidity, the first being jobs, the Oppenheimer & Co analyst noted. "In other words, ...
Credit-card industry may cut $2 trillion lines: analyst (Reuters via Yahoo! News)
The U.S. credit-card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said.
Credit cards set to get far stingier (Denver Post)
Credit-card companies will reduce lending by more than $2 trillion over the next 18 months in a "dangerous and unprecedented" move for U.S. consumer spending, Oppenheimer & Co.'s Meredith Whitney said.
Credit Card Lenders Get Personal (The Motley Fool)
Credit card issuers are set to share even more data about their customers in a bid to promote responsible lending. But will it really work? And could rate tarts suffer?
(AFX UK Focus) 2008-12-01 17:41 UPDATE 3-Credit-card industry may cut $2 trln lines - analyst (Interactive Investor)
(Adds analyst comments from column) Dec 1 (Reuters) - The U.S. credit-card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said. The credit card is the second key source of consumer liquidity, the first being jobs, the Oppenheimer & ...