Chicago factor in agreed US$10.8 million settlement from fraud case
Capital Factors will receive a US$10.8m settlement from one defendant in a lawsuit in which it claims that customers defrauded it of more than US$30m.
Capital Factors will receive a US$10.8m settlement from one defendant in a lawsuit in which it claims that customers defrauded it of more than US$30m.
Wells Fargo & Company reported diluted earnings per common share of US$1.02 for third quarter 2004, compared with US$0.92 in third quarter 2003, up 11%. Net income was US$1.75 billion, up 12% from US$1.56 billion in third quarter 2003.
Bridge Capital Holdings, whose sole subsidiary is Bridge Bank, N.A., Silicon Valley's newest business bank, has announced that Silicon Valley banking veteran Robert P. Gionfriddo was appointed to the company's Board of Directors.
Southwest Securities Bank, a member of SWS Group, Inc., has named two new directors: Gerald B. Alley and Donald W. Hultgren.
An improved outlook on business, historically low interest rates and increased marketing helped push federally backed small-business loans to another record in Arizona.
"Closing our new factoring agreement marks an important step for Tarrant," said Barry Aved, president and CEO of Tarrant Apparel Group.
Predictive models evaluate business-to-business credit risk with greater speed, accuracy, and consistency.
Ardaini & Associates has agreed to join the US Global Marketing Advisory Board, providing management consulting and commercial financing services.
MicroFinancial Incorporated (NYSE:MFI) announced today that it has arranged for a three year, US$30mn senior secured revolving line of credit from CIT Commercial Services, a unit of CIT Group (NYSE:CIT).
Three jewellery industry executives pleaded guilty yesterday to charges that they were part of a $20 million rip-off of a financing company, federal officials said.