tyb
TransUnion Pres/CEO sold $3.66m in shares- July 29
TransUnion is a risk and information solutions provider to businesses and consumers. The Company provides consumer reports, risk scores, analytical services and decision capabilities to businesses. The Company operates through three segments: U.S. Information Services (USIS), International and Consumer Interactive. The USIS segment provides consumer reports, risk scores, analytical services and decisioning capabilities to businesses. The International segment provides services similar to its USIS segment to businesses in select regions outside the United States. The Consumer Interactive segment offers solutions that help consumers manage their personal finances and take precautions against identity theft. Businesses uses its solutions for their process workflows to assess consumer ability to pay for services, measure and manage debt portfolio risk, collect debt, verify consumer identities and investigate potential fraud.
Number of employees : 5 100 people.
https://www.marketscreener.com/TRANSUNION-22619502/company/
https://www.finviz.com/insidertrading.ashx?oc=1645769&tc=7
Equifax and TransUnion fined for deceptive credit score practices
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https://www.ft.com/content/427ef2b6-d1fe-11e6-9341-7393bb2e1b51
Two of the three big US credit bureaux have been fined for deceptive credit score practices, putting under fresh scrutiny the ratings that play an important role in the personal finance of millions of Americans.
In settlements with the Consumer Financial Protection Bureau, Equifax and TransUnion are to pay more than $23m in restitution and civil fines for deceiving consumers about the usefulness and cost of credit scores they bought.
Credit scores are widely used by US lenders to determine which consumers qualify for loans and the interest rates they charge. Consumer rights advocates have long criticised practices in the sector, questioning accuracy, methodology and the consequences of poor ratings.
The penalties against Equifax and TransUnion relate not to how the scores are calculated, however, but rather the marketing of those that were sold to consumers — sometimes as part of wider “credit monitoring” services. Neither company admitted nor denied the findings.
The bureaux, along with rival Experian, collate details about consumers — such as payment history — and sell the information to banks and other commercial users through so-called credit reports.
The reports are distinct from credit scores, which are numerical summaries. Lenders use a range of scores from different providers.
The best-known scoring model was developed by FICO, whose scores are used in the vast majority of credit decisions in the US. It uses information provided by all three bureaux.
FICO has faced competition, including from online lenders who argue their own systems are superior.
The credit bureaux themselves have also sought to sell scores: VantageScore in the case of TransUnion, and a proprietary score developed by Equifax.
However, the CFPB said that these scores were not typically used by lenders to make credit decisions. The regulator found TransUnion and Equifax had in their advertising “falsely represented” that the scores were the same as those used by lenders.
The CFPB also took issue with the fees the companies charged. The companies claimed that their products were either free or, in the case of TransUnion, cost only $1 — but unsuspecting customers could rack up more than $200 a year in charges.
Consumers were signed up for free short-term trials, the regulator said, after which they were subscribed — for recurring monthly fees — unless they cancelled.
https://www.ft.com/content/427ef2b6-d1fe-11e6-9341-7393bb2e1b51
nope this the last story on him
Shinzo Abe played golf after North Korea fired missiles
Japanese Prime Minister Shinzo Abe is drawing scorn from local media following reports he went golfing last Thursday, the same day North Korea tested two short-range missiles.
Abe, who has played golf with U.S. President Donald Trump at his Mar-a-Lago estate and more recently in Japan, did not return to his office following North Korea's latest round of rocket tests, the Mainichi Shimbun reported Tuesday
The Japanese prime minister instead headed for a golf course in Fujikawaguchiko, a town located in Yamanashi Prefecture, according to the report.
Abe went golfing because he assessed the situation and concluded North Korea's short-range ballistic missiles would not affect Japan's security.
https://www.upi.com/Top_News/World-News/2019/07/30/Report-Shinzo-Abe-played-golf-after-North-Korea-fired-missiles/6431564501641/
Hong Kong Stocks Slump as Tropical Storm Threatens to Close Market Early
There were no shortage of reasons for traders to sell Hong Kong equities Wednesday: another night of street protests, a bleak warning on the economy by the government, and an approaching storm that may force the exchange to shut trading early.
The MSCI Hong Kong Index was down 1.4% as of 10:35 a.m, led by property developers and banks. As tropical storm Wipha approached, the Hong Kong Observatory said it will consider raising its signal to 8 between noon and 2 p.m. Trading on Hong Kong’s exchange will be suspended 15 minutes after the signal is raised, according to its rules.
The city’s statistics office said the storm signal won’t affect the release time of gross domestic product data, scheduled for 4:30 p.m. Hong Kong Chief Executive Carrie Lam said Tuesday there’s “no room for optimism for the second quarter and the entire year,” according to a government statement citing her remarks at a luncheon.
“Lots of stocks, especially heavyweights, are being sold off, including developers and consumer-related stocks,” said Castor Pang, head of research at Core Pacific-Yamaichi International in Hong Kong. “That’s a signal that many long funds are pulling out of the market.”
https://www.bloomberg.com/news/articles/2019-07-31/hong-kong-stocks-slump-as-storm-threatens-to-close-market-early
looks like Krugman
second notable
kind of ironic as it's just about ready to implode on it's own.