LONDON - (03/31/06) -- GUS plc. said this week it plans tospin off its Experian unit, one of three companies that dominatethe U.S. market for credit reporting, in an initial public offeringvalued at almost $2 billion later this year. GUS, the 106-year-oldGreat Universal Stores, plans to retain ownership of the rest ofits operations, which is comprised mostly of the Argus and Homebaseretail chains. Experian, along with Equifax and TransUnion, are thethree major credit bureaus that dominate the market for creditreporting to both lenders and institutions.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
7h ago -
Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
9h ago -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
11h ago - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.
March 27 -
VersaBank in London, Ontario, agreed nearly two years ago to buy a small Minnesota bank. The buyer's CEO says he remains hopeful approval will come soon.
March 27