MINNEAPOLIS - (04/28/06) -- Fair Isaac & Co., provider ofthe financial industry's leading credit score, known as FICO, saidnet income for its fiscal second quarter ended March 31 declined21% to $27 million, or 40 cents a share, due to several accountingcharges. That included $6.5 million for the first-time adoption ofFinancial Accounting Standard 123 recording compensation expensesfor stock options, and $3.2 million for adoption of Emerging IssuesTask Force No. 04-8 writing down convertible debt. The company alsotook a $1.4 million charge in the quarter for expenses related toan abandoned acquisition. Second quarter revenues grew 6% to $208.2million. For the first six months of its fiscal year Fair Isaacreported a 5% rise in revenues to $410.9 million, and an 11%decline in net income to $55.4 million, or 83 cents a share. Thefirst half of the year included a 12% gain in revenue from thecompany's scoring solutions operations, which provides risk scoringservices at credit reporting agencies.
-
As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3