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Compliance Issues, Fines a Growing Concern in Credit

Fines and sanctions are on the rise for companies in B2B transactions, not just banks, according to the National Association of Credit Management. Among the fastest growing concerns in business today, domestically and internationally, is that of compliance violations.  This week’s news that Barclays drew two fines – $62 million (USD) by the UK’s Financial Conduct Authority and $15 million ... Read More »

Experian Sued in Mississippi for Credit Reporting Errors

The state of Mississippi sued credit reporting agency Experian accusing the firm of knowingly including erroneous data in millions of consumer credit profiles. Mississippi Attorney General Jim Hood originally filed the complaint against Experian Information Services in a state court last month, but the case was only moved to the US District Court for the Southern District of Mississippi in ... Read More »

FCIB Munich Conference:  Transparency Increasing but Risk Remains

FCIB hosted its annual International Credit & Risk Management Summit on May 11-13, offering global credit professionals a rich opportunity to hone their international risk management skills and build their professional networks.  From shifts in global economies to especially pertinent regulatory compliance issues to detailed contract negotiation practices, the event provided attendees with a master class in how to manage credit in ... Read More »

US Risk Climate: Small-Business Credit Conditions Deteriorated in 1Q 2014

The Experian/Moody’s Analytics Small Business Credit Index report for 2014’s first quarter did not sugarcoat existing conditions, noting in its opening sentence that the year started on a decidedly “sour note.” Still, some analysts believe there is reason to be bullish for a strong second-quarter comeback. The Index, which measures credit quality for firms with fewer than 100 employees, declined ... Read More »

Credit Managers Index: Big Reversal for February

It is that time again – the latest edition of the Credit Managers Index has been released by NACM.   It appears that this will be another of “those” years – at least it is starting out that way. In December of last year the overall index fell to a low point of 55.6. That was not good news as ... Read More »

FCIB Annual International Credit & Risk Management Summit

May 11 – 13, 2014 The Marriott Hotel – Munich An excellent opportunity to discuss hot topics specifically affecting the day-to-day workload of the credit manager and finance director, the FCIB European conferences deliver top-quality speakers in a relaxed atmosphere at some of the best venues around Europe. If you’re looking to increase your company’s visibility and turn sales leads ... Read More »

US Risk Climate: State of Virginia Credit Reporting Regulations Still in Limbo

Legislators neither killed nor endorsed House Bill 370. Lawmakers in Virginia continued to approach efforts to regulate commercial credit reporting agencies with ambivalence this week, as a House of Delegates subcommittee voted to continue House Bill 370 to 2015. Essentially, lawmakers in the second subcommittee of the House Committee on Commerce and Labor, where HB 370 had previously been referred, ... Read More »

US Country Risk Climate: Solid Recovery in the January Credit Managers’ Index

January’s reading for the Credit Managers’ Index (CMI) from the National Association of Credit Management (NACM) rebounded to 57.3, the highest point reached in over a year and even more robust than the 57.1 notched in November. This now begs the question, which of the last three months is signaling the real trend? The November CMI hit a two-year high followed by ... Read More »

Commercial Credit Reporting: Amended Virginia Credit Reporting Bill Introduced for 2014 Legislative Session

An amended version of the Virginia commercial credit reporting bill was introduced in the Virginia General Assembly last week. The previous bill, HB 2198, has since been abandoned after the Virginia Small Business Commission made no recommendation on the bill last December. On January 3, however, Delegate Christopher Head (R), a former co-patron of HB 2198, introduced HB 370 for consideration ... Read More »

USA Trade Credit Climate: December CMI Falls Dramatically

Market-watchers looking for holiday cheer will be hard pressed to find any in the December Credit Managers’ Index (CMI), which was released on December 30th 2013 by the National Association of Credit Management (NACM). The Combined Index fell dramatically, erasing most of the gains made in the last few months and taking the CMI back to levels not seen since the ... Read More »

FCIB European Roundtable on “Know Your Customer”

Zurich Switzerland – February 13, 2014 Does your company have a sound Compliance and Ethics Policy in relation to Credit Risk Management?   Do you “Know your Customer” from a compliance standpoint?  You may already do this from a credit risk perspective, but what about your compliance obligations? Is the company policy sufficient for current regulations within your own country in ... Read More »

Transparency: Virginia Commission Makes No Recommendation on Credit Reporting Bill

The Virginia Small Business Commission made no recommendation on Virginia House Bill 2198 this week, leaving the commercial credit reporting bill effectively dead for the remainder of the year. The credit information industry and the National Association of Credit Management (NACM) are opposed to HB 2198 since its introduction in January, and will continue to oppose it as the debate ... Read More »