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Factoring Helps Sterling Bancorp Achieve Record Results

The financial services provider, Sterling Bancorp, today announced record earnings both for the year and the quarter ended 31 December 2000, reporting a net income of $16.6m for the year and $4.5m for the quarter. This represents an increase of...

#financial services#trade

CIT to Provide Trade Finance on the Internet with...

CIT Commercial Services, the USA’s largest provider of factoring, has today announced an agreement with Commfin, an internet portal that…

#CIT#CIT Commercial Services#platforms


GMAC Confirms Bank of America Purchase

BCR Publishing has today received confirmation that GMAC’s acquisition of the Bank of America’s factoring business was effective as of…

#bank#Bank of America#Commercial Credit


Southwest Financial Inc. Executive Pleads Guilty to Fraud.

An executive with a Little Rock, Arkansas factoring company, Southwest Financial Inc. pleaded guilty to conspiracy and eight counts of…

#bank#banks#Two


EDS and Primestreet Collaborate to Enhance Online Credit Solutions...

The global services company EDS and the credit-solution enabler, Primestreet announced on Friday 12 January 2001 a comprehensive agreement to…


GMAC Purchase of Bank of America Commercial Finance Likely...

Further to our report of 1 December 2000, it is understood that the announcement of GMAC’s intention to purchase Bank…

#bank#Bank of America#BCR Publishing


CIT to Develop its E-Commerce Interests via Agreement with...

CIT Commercial Services, the leading US factoring company, has entered into an agreement with RetailExchange.com, the online business-to-business exchange for…


Possible Bank of America Commercial Finance Sale

An announcement of the sale of the US division of Bank of America Commercial Finance is expected next week. It…

#bank#Bank of America#BCR Publishing


Asta Funding to Use Record Earnings to Develop Factoring...

The New Jersey based consumer receivables and management company Asta Funding Inc. has today reported results for its fiscal year…


Finantra to Discard Factoring Operations

The financial services group Finantra yesterday announced that it would discontinue a number of its operations including factoring, medical billing,…


GE Reports Record Third Quarter Results

General Electric, the US based conglomerate, recorded third quarter 2000 earnings of $3.18 billion, a record for the quarter and…

#financial services#investment


Bill Introduced Concerning “Factoring” of Payments to Victims of...

A new federal bill, The Structured Settlement Act (HR 5421), was introduced on 6 October 2000. This legislation is intended…

#insurance#securitisation#trade

SunTrust Group Records Only Modest Third Quarter Profit Growth

The USA based SunTrust banking group which includes a factoring operation has reported net income of $326.8m in the third…

#SunTrust

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