North American Factors “Drowning in a Sea of Credit Losses” in the Wake of Tuesday’s Tragedy
An informed source in Canada was speaking to a colleague in an undisclosed Canadian factoring company owned by a major international bank.
An informed source in Canada was speaking to a colleague in an undisclosed Canadian factoring company owned by a major international bank.
The latest Federal Reserve report of loans made by banks reveals they are not nearly as keen as they once were to extend loans to high-tech companies.
Asta Funding, the financial services company which specialises in factoring and the purchase, liquidation and management of performing and non-performing consumer receivables, today reported results for its third quarter ended 30 June 2001.
KBK Capital Corporation, which provides financial services to middle-market businesses, today reported its operating results for the second quarter and first half of the year 2001.
CEO of Bay View Capital Corporation (based in the San Francisco Bay area) outlined the company's strategy for building shareholder value by focusing on core banking activities and expanding its business lending operations in the San Francisco Bay
Last year US Bancorp acquired Spectrum Commercial Services as part of a larger deal. Top executives at Spectrum assumed that was the end of their business and that they would be absorbed into an existing corporate division.
David L’Hoir, who ran the organisation PayDay Today was arrested by the FBI in Fort Lauderdale, Florida on suspicion of mail fraud, wire fraud and money laundering. There is also probable cause to believe he is operating a Ponzi scheme.
The US Bankruptcy Court in Delaware approved a plan by Berkshire Hathaway Inc and Leucadia National Corp to bail out commercial lender Finova Group Inc, the troubled international financial services company which sold its factoring division to GMA
It seems that the stalling of the US economy has impacted the activity of factors in the USA and Canada in the first half of 2001.
