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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.
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'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 ...
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(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, ...
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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.
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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.
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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.
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Va. man sentenced in credit-card fraud scheme (NBC 12 Richmond)
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. Acting U.S. Attorney Julia Dudley said 40-year-old Dereck Dunston of Evington was sentenced Monday.
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BMI Bank and Geant Hypermarket unveil new cobranded credit card (Zawya)
Manama, Bahrain - Bahrain based BMI Bank (BMI) and Geant Hypermarket today unveiled their new co-branded credit card -La Carte - that offers customers a range of benefits including a loyalty program with rewards, low monthly interest rate, no annual fees, competitive rates on foreign spend as well as a 50 day interest free period on all retail purchases with exclusive discounts and special offers.
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FIRST COAST TICKER: Citigroup's credit card division facing more losses (The Florida Times-Union)
The federal government's bailout package last week for Citigroup Inc. protects the global banking giant against some losses from residential and commercial mortgages. But Citigroup's mortgage operations are not the only business losing money these days.
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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.
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