Credit Agricole

The Central Bank of Nigeria issued guidelines for establishing and operating credit bureaus, in a move that will support the development of the country's credit market by providing greater access to information on creditworthiness. Under the new guidelines, banks and their subsidiaries can invest up to 10% of a credit bureau's paid-in capital, though no financial institution may take a stake in more than one credit bureau. To apply for a credit bureau license, a company must deposit the equivalent of some $4.2 million with the central bank as a refundable minimum capital requirement. The central bank must approve the appointment of all credit ... Read Full Story

Fair Credit Reporting Act If an lender or insurer uses a report from a consumer-reporting agency, that lender or insurer must comply with a state law relating to use and disclosure of credit and/or insurance information, as well as the federal Fair Credit Reporting Act . The Fair Credit Reporting Act is a federal law that regulates consumer reporting agencies and the use of consumer reports and investigative consumer reports provided by such agencies. The goal of the law is to help assure that credit reporting is accurate and current. The applicant must be notified in advance that a consumer report may be obtained ... Read Full Story

Credit Agricole's Thor Hushovd won an exciting final sprint to take the win in stage four of the Tour de France in Joigny. Hushovd followed Julian Dean, who had been leading the charge, then sprinted for the finish line with 200 metres to go.  He was able to hold off a late charge from Barloworld's Robbie Hunter.  Rabobank's Oscar Freire finished third.  Erik Zabel was in 4th and Danilo Napolitano was in 5th. Big win for Credit Agricole Read Full Story

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Crédit Agricole Asset Management has reportedly launched the CAAM Funds Equity Statistical Arbitrage, a long/short equity statistical arbitrage sub-fund within its Luxembourg range of international Sicav funds. read more Read Full Story

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Two French banks are merging their asset management divisions to combat the crisis gripping the financial services sector worldwide. read more Read Full Story