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USA

Ex-Im Bank launches new foreign dealer insurance product

The Export-Import Bank of the United States (Ex-Im Bank) has introduced a new type of insurance policy that covers financing of exports of US machinery and equipment to foreign dealers for resale to local buyers. The insurance covers three types...

Alabama bank exits export lending business

According to sources familiar with the situation, Compass Bank is getting out of export lending. The bank's structured trade finance…

#bank#interest rates#international


GMAC Commercial Finance approves US$45m factoring facility

GMAC Commercial Finance has approved a new US$45 million factoring facility for leading private label and private brand casual apparel…

#capital requirements#commercial finance#management


CIT reports 38.7% increase in first half net income

CIT Group Inc. reported net income of $176.6 million for the second quarter, an increase from $136.9 million. Diluted earnings…


Man pleads guilty in Espirito Santo factoring fraud

The former president of a computing company pleaded guilty yesterday to his role in a US$170 million scheme to defraud…

#bank#factoring fraud#MAN


Factoring drives US bank’s income rise

Sterling Bancorp, the US finance house and parent company of Sterling National Bank, has reported a 14.7 per cent increase…


Atradius acquire US debt collection agency

Atradius has announced the expansion of its worldwide collection activities through the acquisition in the US of Chicago-based International Collections…


Market leader in sales of SBA loans to SMEs

Bridge Bank, a market leader among independent banks in sales of the US Small Business Administration (SBA) loans in Northern…

#bank#cash management#management


GE offers US$17m in distribution finance for US corporate

GE Commercial Distribution Finance (GECDF), the supplier finance unit of GE Capital, has agreed to expand the distribution finance facility…


Karaoke machine maker to consider factoring

The Singing Machine Company, a maker of consumer-oriented karaoke machines in the US, has said it will look to selling…

#capital requirements#management#receivables


Corporate contemplates an expansion into factoring

Hairmax International, a beauty products group, is seeking to partner or invest with a company that provides financial services to…


Credit insurer refunds $6.5m to overcharged customers

Assurant Group companies have agreed to return about $6.5 million for charging what Maryland's insurance commissioner calls excessive rates for…

#compliance#insurance#Paid

Legal suits against US factor gather pace

Three pastors and a church employee have joined a growing list of inland investors looking to the courts to recoup…

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