Finance Law

So all of us — left, right and center — are supposed to be against corporate welfare these days. Except when we’re not. On Wednesday the U.S. Senate voted 78-20 to reauthorize the U.S. Export-Import Bank and raise its lending limit from $100 billion to $140 billion. The House approved the bill 330-90 last week. [...]

Thu May 17, 2012 4:50pm EDT

ELIZABETHTOWN, Ky., May 16, 2012 — /PRNewswire/ – First Financial Service Corporation (NASDAQ: FFKY) today announced the following key additions to the leadership of the Company and its subsidiary, First Federal Savings Bank of Elizabethtown. Frank Perez joins the Company and the Bank as Executive Vice President and Chief Financial Officer. Mr. Perez is a Certified [...]

J.C. Penney Co. (JCP) (JCP)’s creditworthiness is back where it was three years ago in the eyes of derivatives traders as Chief Executive Officer Ron Johnson struggles to revive the fourth-largest U.S. department store chain. Credit-default swaps on the Plano, Texas-based retailer have soared 136 basis points this week to 590 basis points, the highest [...]

Enlarge image Microlender Sees Revival in Law as Losses Mount Adeel Halim/Bloomberg A woman receives a micro-loan during a meeting organized by SKS Microfinance Ltd. in Sadasivpet, India. A woman receives a micro-loan during a meeting organized by SKS Microfinance Ltd. in Sadasivpet, India. Photographer: Adeel Halim/Bloomberg SKS Microfinance Ltd. (SKSM), India’s largest publicly traded [...]

SKS Microfinance Ltd. (SKSM), India’s largest publicly traded lender to the poor, says proposed legislation will spur a revival by easing loan recovery just as mounting losses force it to curtail operations. The draft law would let microcredit companies improve debt collection and may also help raise funds, Chief Financial Officer S. Dilli Raj said [...]

ELIZABETHTOWN, Ky., May 16, 2012 /PRNewswire via COMTEX/ – First Financial Service Corporation /quotes/zigman/93325/quotes/nls/ffky FFKY -1.22% today announced the following key additions to the leadership of the Company and its subsidiary, First Federal Savings Bank of Elizabethtown. Frank Perez joins the Company and the Bank as Executive Vice President and Chief Financial Officer. Mr. Perez [...]

NEW YORK, May 16, 2012 (BUSINESS WIRE) – Medallion Financial Corp. /quotes/zigman/60066/quotes/nls/taxi TAXI -9.91% , a specialty finance company with a leading position servicing the taxicab industry and other niche markets (the “Company”), today announced that it has priced its previously announced underwritten public offering of 3,500,000 shares of its common stock at a price [...]

JINHUA, CHINA, May 15, 2012 (MARKETWIRE via COMTEX) – Kandi Technologies, Corp. /quotes/zigman/107702/quotes/nls/kndi KNDI +0.66% ATV and Go-Kart Model Changes Spurred Sharp Sales Increases While EV Sales Continued To Trend Up Kandi Technologies, Corp. (the ‘Company’ or ‘Kandi’) /quotes/zigman/107702/quotes/nls/kndi KNDI +0.66% , a leading Chinese manufacturer and developer of pure electric vehicles (EVs) and all-terrain [...]

JPMorgan Chase’s $2 billion loss from betting on corporate bonds will embolden advocates of the Volcker Rule, a provision of the 2010 Dodd-Frank law that will prohibit banks from trading on their own account. Unfortunately for federal regulators, trading in securities is essential to modern banking, and busting up the big Wall Street financial houses [...]