| Fair Isaac to Adjust Credit Scores to Stem Credit Renting Practice
Fair Isaac Corp. said this week tha the next version of its widely used FICO score will no longer consider certain types of credit card accounts, closing a loophole that allowed strangers to coattail on a cardholder's good credit. The new FICO score formula won't include authorized user accounts users on credit cards who are not responsible for paying the balances but are approved to make purchases with the cards. Often, authorized users are family members of a cardholder, such as college students on their parents' cards or spouses who have little or no credit of their own. These types of accounts can improve a credit score if the primary cardholder kept low balances and paid the balance on time over a long period. Minneapolis-based Fair Isaac plans to introduce the new scoring methodology in September to one of the three major credit reporting agencies: Equifax Inc., Experian Information Solutions Inc.
Why Are CC Numbers Still So Easy To Find?
Frequent Slashdot contributor Bennett Haselton gives the full-disclosure treatment to the widely known and surprisingly simple technique for finding treasure-troves of credit card numbers online. He points out how the credit-card companies could plug this hole at trivial expense, saving themselves untold millions in losses from bogus transactions, and saving their customers some serious hassles. Read on for Bennet's article. .
Taking Some Precautions On Your Student Loans
Taking student loans is somewhat easy. Every time you need finance to face college expenses you resort to federal student loans, subsidized private loans or simple private student loans. But when the time for repayment arrives, the problems begin. The overall payments of your accumulated debt can be a really heavy burden. Yet, it is possible to save money on your student loans and ease your financial life. When it comes to saving money on your student loan payments, the key is thinking in advance. There is little you can do once youve already established a situation of accumulated debt. Probably, the best solution is to consolidate all your loans and credit card debt into a single loan with more advantageous conditions and the amount spread into further payments. Thinking In Advance Student Debt It is important for you to think ahead when taking student debt.
Maximizing 'Credit' for Corporate Cooperation
Following in the wake of the Enron Corp. demise and the resulting aggressive federal investigations of corporate malfeasance, "cooperation" is the coin of the realm. What cooperation means in the context of any given investigation is what the federal agency handling the investigation says it means. Over the past few years, federal agencies have issued a series of written statements articulating the importance of cooperation and setting forth their expectations of the steps necessary to obtain "credit" for cooperation in the context of agency enforcement decisions. Some of those statements -- most notably the now-superseded "Thompson memo" issued by the U.S. Department of Justice in January 2003 -- have fueled controversy, particularly with respect to their treatment of such issues as waiver of the attorney-client privilege and work-product protections.
Whitney Tilson's Notes From Berkshire Hathaway's Annual Meeting
Whitney Tilson submits (via Value Investor Insight): Note: This is not a transcript. No recording devices were allowed at the meeting, so this is based on many hours of rapid typing, combined with my memory. All quotes are Buffett's, unless otherwise noted. Words in [brackets] are my comments/edits or, when I missed something, my best guess of what was said. This is an excerpt from my full notes from this year's meeting, which are available here; comments from previous Berkshire and Wesco meetings are available here. • Berkshire's Next Chief Investment Officer Buffett: I mentioned in the annual report that in looking for an investment manager to succeed me, we're looking for someone who doesn't only learn from things that have happened, but can also envision things that have never happened.
• PHOTO: Sun News Publishing
The whole stretch of a road is supposed to be one straight smooth ride. However, an attempt to get carried away while basking in the euphoria of that feeling, might be the beginning of an unplanned journey to the great beyond. Or better still a visit to an orthopedic home.
Lying on almost all the highways in Lagos metropolis, like emissaries of death, are different dangerous things that were hitherto objects of beautification.
Good motorable roads are said to be one basic component of a good government, which might have been the idea behind sighting of streetlights on major highways. Apart the primary function of providing visibility at night, the aesthetic value of the lights to the environment can not be ignored. But the aim has since been defeated, as they now stand out like a sore thumb on major highways.
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