credit rating agencies

Feds: 18 Charged in $200 Million Global Credit Card Fraud

Eighteen people have been charged in what may be one of the nation's largest credit card fraud rings, a sprawling international scam that duped credit rating agencies and used thousands of fake identities to steal at least $200 million.

More Car Loans Go to Borrowers With Bad Credit

If you've been rejected for a car loan due to poor credit, you might want to apply again. The automotive credit industry increased the share of new car loans going to credit-challenged borrowers by 12.7% in the third quarter, a sign that lenders are loosening their credit criteria.

Moodys: U.K. Credit Rating Is Safe

The U.K.'s triple-A credit rating is safe, thanks to the government's austerity measures and a flexible economy, rating agency Moody%u2019s said.

Standard and Poor's Lowers Ireland Rating on Bank Bailout Costs

Standard & Poor's cut its credit ratings for Ireland on Tuesday, saying that the cost of supporting the country%u2019s ailing banking sector has risen. S&P lowered its long-term rating one notch to AA-minus, the fourth highest investment grade, Reuters reported. The outlook on the rating is negative.

Would Rating Downgrades Clip Bank Profits?

Moody's is reviewing 10 large regional banks for possible downgrades because it thinks financial reform means total government support is now less likely. That's setting off a debate about whether those banks will actually take a hit to profitability.

Legal Briefing: Ratings Agencies Try to Avoid Lawsuits

Now that credit rating agencies can be sued for issuing inflated ratings, they're refusing to allow their ratings to be used to sell bonds. Unfortunately, since some types of bonds are required to have such ratings, those parts of the bond market are shutting down.

Why Credit Ratings Have Outlived Their Usefulness

While defending the rating agencies last week before the Financial Crisis Inquiry Commission, Warren Buffett also admitted, "I don't need them." It seems that more and more, the financial markets are coming to agree with Buffett's stance on ratings.

Who's at Fault for the Financial Crisis? Everyone

Before the Financial Crisis Inquiry Commission, Warren Buffett essentially said this: We are all of us, himself included, a bunch of junkies -- and history shows that markets will always oblige us with a fix.

Big Ratings Agencies May Face New Competition

A decision by the U.S. Senate to restrict the ability of financial institutions to select a credit rating agency to evaluate their bonds may throw open the market to competition.

Behind the $4 Trillion in CDOs: Sneaky Banks and Worthless Ratings

CDOs were a way for investment banks to evade their capital requirements, just as asset-backed securities played a similar role for savings and loan institutions in the 1980s. This time around the banks had plenty of help, especially from fee-hungry credit agencies.

Ratings Agences: Flush but Still Tarnished

Bond sales surged 41% to $1.2 trillion last year as companies rushed to take advantage of thawing credit markets. That means demand for ratings has also boomed, and both Moody's and S&P delivered solid results recently. But that doesn't mean all the damage to their names has been undone.