Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

The Money Store's New Moneybags


In Business This Week

THE MONEY STORE'S NEW MONEYBAGS

THE MONEY STORE IS THE latest trophy for the acquisitive Ed Crutchfield, CEO of First Union. After snapping up two big banks and a brokerage firm last year, Crutchfield is plunking down $2.1 billion in First Union stock, outbidding still undisclosed rivals to buy the Money Store, a company specializing in home-equity, student, and Small Business Administration loans. The consumer-finance industry has come under pressure as savvier consumers seek out low-cost credit, but First Union officials believe both the bank and the Money Store will benefit from gaining access to each other's customer lists.EDITED BY PAT WECHSLER


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus