credit News Archive

Fed finds deepening credit crisis as more banks tighten standards (USA Today)

More U.S. banks are tightening lending standards on home mortgages and other consumer and business loans as a deepening credit crisis exerts a heavier toll on the economy.

Credit Crunch Shows No Sign Of Easing As Banks Keep Turning Back Loan Spigot (Investor's Business Daily via Yahoo! News)

A majority of banks tightened credit to businesses and consumers in the three months through July, and many plan to restrict lending well into 2009, according to a Federal Reserve survey on Monday.

S&P drops Newmont Mining from credit watch (AP via Yahoo! Finance)

Standard & Poor's Ratings Service on Monday affirmed its "BBB+" corporate credit and senior unsecured debt ratings on Newmont Mining Corp., saying debt concerns over Newmont's recent acquisition of a Canadian gold mining firm had eased.

Freddie Mac shares drop after S&P credit downgrade (AP via Yahoo! Finance)

Shares of Freddie Mac dropped Monday after Standard & Poor's Rating Service lowered some of the mortgage financier's stock and debt ratings due to high credit losses and capital position concerns.

Credit Unions Report Big Mortgage-Related Losses, Report Says (New York Times)

Five of North America?s largest credit unions are reporting big paper losses on mortgage-related securities, a sign that housing-market distress is spreading even to the most risk-averse financial sectors, The Wall Street Journal reported.

Credit unions hit by mortgage-market problems: report (Reuters via Yahoo! News)

Five of North America's largest credit unions are reporting big paper losses on mortgage-related securities, a sign that housing-market distress is spreading even to the most risk-averse financial sectors, the Wall Street Journal (WSJ) said on Monday.

Economic Report: Credit squeeze getting worse, banks say (Market Watch)

The credit squeeze got worse in the past three months, the Federal Reserve reports, and most banks expect to keep a lid on credit for the next year at least.

Federal Reserve finds deepening credit crisis (Washington Post)

WASHINGTON -- More banks are tightening lending standards on home mortgages and other consumer and business loans as a deepening credit crisis exerts a heavier toll on the economy.

Credit Crunch Shows No Sign Of Easing As Banks Keep Turning Back Loan Spigot (Investor's Business Daily via Yahoo! Finance)

A majority of banks tightened credit to businesses and consumers in the three months through July, and many plan to restrict lending well into...

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