Credit ratings

Calls For Tighter SEC Oversight Of Firms; SEC Chairman Cox Acknowledges Investigators Have Uncovered Improper Practices At Ratings Firms

April 22, 2008 -- Report: Moody's Curried Favor With Clients To Inflate Firm's Market Share -- WASHINGTON, DC -- U.S. Senator Charles E. Schumer (D-NY) today pressed the head of the Securities and Exchange Commission to crack down on conflict-of-interest violations at the major credit-ratings agencies, which he said conspired to inflate an unsustainable credit bubble. Under questioning by Schumer before the Senate Banking Committee, SEC Chairman Christopher Cox disclosed that the firms disregarded their own internal controls meant to prevent the relationship between the firm and its clients from getting too close.    » read more »

ACES, AGIA and Budget Reserves Credited

April 2, 2008, Juneau, Alaska – Alaska Governor Sarah Palin announced that national rating agency Standard & Poor’s is increasing its rating on the State of Alaska from AA to AA+. The last time the State’s rating was upgraded was on August 5, 1992 when Standard & Poor’s shifted from AA- to AA.

Trans-Alaska oil pipeline over the Tanana River: Photo by Frank K. (CC)    » read more »

Repair Customer Credit Scores; Dealership to pay more than $2 million in payments, fines and restitution and to be subject to independent oversight for two years

WATERTOWN, N.Y. (January 24, 2008) – New York Attorney General Andrew M. Cuomo today announced a settlement forcing an auto dealer to pay off loans on vehicles traded-in and to repair the credit reports of consumers who were adversely affected by the dealer’s delinquent payments.    » read more »

December 11, 2007 -- (Boise) – Idaho consumers concerned about the risk of identity theft should consider placing a voluntary freeze on their credit reports, Idaho Attorney General Lawrence Wasden said. Wasden noted that each of the three major credit reporting agencies (Equifax, Experian and TransUnion) offers consumers the ability to freeze their credit reports.    » read more »

November 1, 2007 -- Jefferson City, Mo. — The nation’s three major credit-reporting agencies are now allowing consumers to put a security freeze on their credit report, an option Missouri Attorney General Jay Nixon says is an excellent way to prevent identity theft. A security freeze makes a consumer’s credit report unavailable to lenders, which means identity thieves would not be able to open new accounts or lines of credit in the consumer’s name.    » read more »

Helps Explain New Credit Freeze Rules

September 24, 2007 -- SEATTLE – Washington Attorney General Rob McKenna applauded decisions by TransUnion and Equifax to offer consumers the ability to freeze access to their credit reports. McKenna said it’s important for consumers to understand how TransUnion’s credit freeze rules differ from Washington laws and to not confuse the credit freeze option – which is free for victims and $10 for everyone else – and a costlier product offered by TransUnion that includes credit monitoring.    » read more »

Indiana Attorney General, Lawmakers & AARP say free service gives layer of protection against ID theft

August 29, 2007 -- INDIANAPOLIS, IN – Starting September 1, 2007, Indiana will become one of about 40 states that allow residents to place a freeze on their credit reports. Indiana Attorney General Steve Carter, State Senator Gary Dillon (R-Pierceton), State Representative Joe Micon (D-W. Lafayette) & June Lyle from AARP Indiana say Indiana has also championed a law that is completely free to its citizens, unlike similar laws that have been passed across the country.    » read more »

06/11/2007 -- California Governor Arnold Schwarzenegger issued the following statement today after Standard & Poor's Ratings Services upgraded California's credit rating from "A+/Stable" to "A+/Positive":

"This is another signal from the financial markets that California is continuing to move in the right direction. By paying down debt ahead of schedule and by controlling the growth in spending, as I've proposed in my budget, our credit rating can go up and our borrowing costs can go down.    » read more »