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The Better Business Bureau (BBB) is an American private, 501(c)(6) nonprofit organization founded in 1912. BBB's self-described mission is to focus on advancing marketplace trust, [2] consisting of 92 independently incorporated local BBB organizations in the United States and Canada, coordinated under the International Association of Better Business Bureaus (IABBB) in Arlington, Virginia.
When comparing companies that have different ratings, it's important to read the complaints listed on the business' BBB profile, McGovern said. "A lot of times when a rating falls, it is because ...
In 2011, FeeFighters wrote a negative blog article claiming that a company bumped its rating from an "F" to an "A" by paying the Better Business Bureau. [10] The controversy was covered by The Today Show. [11] As a result, the BBB pulled the company's accreditation. [12] The BBB later admitted the pay-for-ratings incident. [13]
In the wake of the financial crisis, the Financial Crisis Inquiry Report [6] called out the "failures" of the Big Three rating agencies as "essential cogs in the wheel of financial destruction". According to the Financial Crisis Inquiry Commission, [7] The three credit rating agencies were key enablers of the financial meltdown.
Credit rating is a highly concentrated industry, with the "Big Three" credit rating agencies controlling approximately 95% of the ratings business. [3] Moody's Investors Service and Standard & Poor's (S&P) together control 80% of the global market, and Fitch Ratings controls a further 15%.
Block has agreed to pay up to $120 million to consumers harmed by fraudulent transactions and unfair business practices detailed by the Consumer Financial Protection Bureau (CFPB) in a consent ...
Of course, filing for bankruptcy doesn’t necessarily mean a business is going bust. Companies tend to use the Chapter 11 process to wind down some operations, tackle mounting debt and save on ...
A sovereign credit rating is the credit rating of a sovereign entity, such as a national government. The sovereign credit rating indicates the risk level of the investing environment of a country and is used by investors when looking to invest in particular jurisdictions, and also takes into account political risk.