| Thwart thieves by freezing credit
When it comes to keeping a thief from obtaining credit in your name, consumers have a tough weapon in the form of a so-called security freeze. When you freeze your credit report, you thwart would-be thieves by preventing creditors from checking your credit history. Few lenders will lend you – or a thief – money without first checking your credit report. Texans got added muscle in September, when a new law took effect that allows consumers to freeze their credit report without first having to have a police report. Previously, Texans couldn't freeze their credit reports unless they were victims of identity theft. .
TD Bank faces $1M fine, mega lawsuit
TORONTO -- Toronto-Dominion Bank was hit with a double dose of bad news coming from both sides of the globe yesterday. In London, Britain's Financial Services Authority revealed it has fined TD's London office nearly C$1 million, or 490,000 pounds, for failing to control a rogue bond trader who cost the bank C$8.8 million. The fine is worth C$980,000 at current exchange rates, and the trader, Simon Richard Brignall, was banned from capital markets "on the grounds that he is not a fit and proper person" after his activities between the start of 2005 and last March. In Canada, the Ontario Court of Appeal has given the green light to a $150-million class action lawsuit against TD Bank over allegations of undisclosed and unauthorized fees to Visa card holders.
(AFX UK Focus) 2007-11-19 17:14 GMT: Prague shares close lower, dragged down by Erste Bank, real estate developers
PRAGUE (Thomson Financial) - Prague shares closed lower as Erste Bank lost more than 4 pct after Merrill Lynch downgraded the Austrian bank to 'neutral' from 'buy', and credit market worries pushed developer stocks down. The main PX index dropped 1.29 pct to 1,770.6 points, losing for the third straight session. Erste Bank, listed in Vienna and Prague, paced the fall, shedding 4.57 pct to 1,252 crowns after Merrill Lynch cut the group's rating to 'neutral' citing "heightened concern" for the macroeconomic outlook in Romania, where Erste should derive 33-45 pct of profit growth in the next two years. Dealers also said Erste has come under pressure from subprime concerns in the banking sector, sending the stock to a 16-month low. Real estate stocks also have been hit by credit worries, with ECM Real Estate Investments sliding 5.14 pct to 1,366 crowns, while Orco Property Group lost 4.99 pct to 2,435 crowns.
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