ATMs pass test with flying colors

Article Abstract:

Automated teller machine (ATM) networks did not encounter any glitch associated with the Y2k bug. Donna Tanoue, chairwoman of the Federal Deposit Insurance Corp, successfully withdrew cash from an ATM near the White House a few minutes into year 2000. People have mixed views about the threat of the Y2k bug. Some said that Y2k is just a huge hype played up by the media, while others are of the opinion that the threat of the Y2K bug was serious prevented only by good planning.

Other Computer Peripheral Equipment Manufacturing, Automatic Teller Machines, Automated teller machines

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Chairman denies report of Fannie Mae lending bias

Article Abstract:

Federal National Mortgage Assn (Fannie Mae) chmn Franklin Raines said he was 'personally outraged' by a report claiming that his firm discriminates against black and minority home buyers. The report, which appeared in The Washington Post, cited US Dept of Housing and Urban Development statistics which indicated that only 3.2% of Fannie Mae funds were given to blacks. Raines explained that his firm cannot accommodate more minority borrowers because of the legal requirement that homebuyers put up 20% of a home's value or buy costly mortgage insurance.

Federal National Mortgage Assn, Secondary Market Financing

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Credit scores, criteria to be disclosed

Article Abstract:

Fair Isaac announced that it will reveal its method for computing creditworthiness to the public. Fair Isaac, whose creditworthiness scores are used in 75% of mortgage loans in the US, added that it will also make the scores available to mortgage loan applicants. The company's decision comes at a time when the California Senate passed a bill that would require the disclosure of credit scores to consumers. Fair Isaac spokesman Peter McCorkell said the company would strike a balance between consumers' right to know and preventing consumer's manipulation of their scores.

All Other Nondepository Credit Intermediation, Nonmonetary Institutions NEC, Financial institutions, Fair Isaac and Company Inc.

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