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CIT Group Accused of Running a Factors’ Monopoly

Donald Wiener, who runs the dress chain Dresses For Less, is suing CIT Group and other accomplices, accusing them of running a factors’ monopoly called the Uptown Credit Group. The group meets twice a week to decide which garment companies...

#3M#banks#CIT

Berkshire Hathaway Drops Finova Offer

Warren Buffet’s Berkshire Hathaway Inc dropped its offer for $500m in notes from Finova Group Inc. Berkshire could end the…


CIT Renamed Tyco Capital

Tyco International Ltd. announced that its financial services group, CIT, which includes CIT Commercial Services, the largest factoring company in…


North American Factors “Drowning in a Sea of Credit...

An informed source in Canada was speaking to a colleague in an undisclosed Canadian factoring company owned by a major…

#bank#BCR Publishing#business finance


Banks Limit Lending to High-Tech Firms

The latest Federal Reserve report of loans made by banks reveals they are not nearly as keen as they once…


Asta Reports 49% Increase in Net Income

Asta Funding, the financial services company which specialises in factoring and the purchase, liquidation and management of performing and non-performing…

#financial services#funding#management


KBK Capital Corporation Plans to Boost its Factoring Portfolio...

KBK Capital Corporation, which provides financial services to middle-market businesses, today reported its operating results for the second quarter and…


Bay View Capital CEO Outlines Strategy at Annual Shareholders'...

CEO of Bay View Capital Corporation (based in the San Francisco Bay area) outlined the company's strategy for building shareholder…

#leasing


Spectrum Goes Independent of US Bancorp

Last year US Bancorp acquired Spectrum Commercial Services as part of a larger deal. Top executives at Spectrum assumed that…


Head of PayDay Today Arrested on Suspicion of Fraud

David L’Hoir, who ran the organisation PayDay Today was arrested by the FBI in Fort Lauderdale, Florida on suspicion of…

#interest#WHO


Berkshire Hathaway and Leucadia National to Bail Out Finova

The US Bankruptcy Court in Delaware approved a plan by Berkshire Hathaway Inc and Leucadia National Corp to bail out…


Factoring in North America Slows Down with the Economy

It seems that the stalling of the US economy has impacted the activity of factors in the USA and Canada…

#BCR Publishing#CIT#liquidity

John F Daly of CIT Commercial Services presents the...

Market Performance and Supply Factors generally serve companies that range in size from a turnover of US$1 million to US$500…

#bank#international#management

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