Credits

Although it's late to the game, the Justice Department deserves polite applause for taking the credit-rating agency Standard & Poor's to task with a civil complaint against it and its parent, McGraw-Hill Cos. S&P is one of three major credit-rating firms whose faulty predictions lulled investors into thinking exotic mortgage-backed securities were a good bet. As it turned out, they were such a lousy bet that they helped bring on the 2008 crash that still...

There are many things to call Apple Inc. Maker of the iPhone, iPad, and other must-have products. The world's most innovative company, and the world's most valuable company (at times). Allow me to add to the list: "Major buyer of Pennsylvania tax credits. " The Cupertino, Calif.-based technology Goliath may have more cash than investor David Einhorn believes is prudent, but Apple isn't foolish when comes to taxes. Apple apparently is trying to reduce its tax liability in Pennsylvania by buying up tax credits from other companies here.

Companies that issue credit cards can no longer market them to students at New Jersey public colleges under a law Gov. Christie signed Thursday. "These kids are carrying enough debt through student loans, through whatever costs they have for education," said Assemblywoman Celeste Riley (D., Cumberland-Gloucester-Salem), a supporter of the new law. Riley described students as feeling pressured by "predatory soliciting" practices when credit-card companies market through campus displays or alumni association partnerships.

Students at New Jersey's public colleges can no longer be targeted by credit-card companies in on-campus marketing campaigns, under legislation Gov. Christie signed Thursday. The law prohibits colleges, including county colleges, from allowing "direct merchandising" including "interpersonal contact or through the use of displays. " Almost every Assembly member and senator voted for the bipartisan legislation, whose cosponsors included Assemblywoman Celeste Riley (D., Gloucester)

A PHILADELPHIA woman was among 13 people arrested Tuesday in what federal authorities call "one of the largest" credit-card-fraud schemes ever. Vernina Adams, 31, was pivotal to the fraud by supplying the ring of scammers with fake, pumped-up credit histories through her business, One Stop Credit Shop, the U.S. Attorney's Office said. Collectively, the ring of co-conspirators from New York, New Jersey and Pennsylvania allegedly stole at least $200 million through a network of fake companies, according to authorities.

A Philadelphia woman was among 13 people arrested Tuesday in what federal authorities said was a $200 million credit-card fraud scheme. The U.S. Attorney's Office identified Vernina Adams, 31, as pivotal to the scam by supplying the ring with pumped-up credit histories through her Philadelphia business, One Stop Credit Shop. - Philly.com

Sunday Fun with entropy In Samuel Beckett's Endgame , a servant who can't sit attends to a blind and imperious employer who can't stand in a shambles of a household, while the employer's parents wait for the conclusion in a matching set of dustbins. It's a comedy - and one of the great plays of the 20th century. The show goes on at 2 and 7 p.m. Sunday at the Arden Theatre Company , 40 N. Second St., and continues on a Tuesday-through-Sunday schedule to March 10. Tickets are $36 to $48. Call 215-922-1122.

Quick quiz. Name a business you have to deal with whether you want to or not, isn't a public utility, and isn't the outfit that services your mortgage loan. Stumped? Two more clues: At least three nationwide companies fill the bill. And they may not classify you as a customer at all - but they're eager to sell you stuff you can likely do without. The answer is any of the nation's three main credit-reporting agencies: Experian, Equifax, and TransUnion. You can barely function in today's world without them - not if you want a home loan, credit card, job, or apartment.

D EAR HARRY: I negotiated with my bank to let me pay the balance due on my mortgage for a $15,000 discount. This was in accordance with a letter they sent me suggesting that we discuss an early payoff. I sent them a check in October marked "payment in full. " They deposited the check and sent me back a canceled note that I signed when I got the mortgage in 2001. My wife told me that she heard that I could use that same "paid in full" statement to pay off some credit-card debts. She said that she heard that people do this all the time to get a fresh start with their banks.

Stores can now ask consumers using credit cards to pay a surcharge or "swipe fee," as a result of a proposed legal settlement. Experts suggest that small retailers are the most likely to pass along the fees they're charged by Visa and MasterCard. Any merchant who does is required, under the agreement, to inform shoppers as they enter a store and as they pay, with any such fees noted on receipts. Debit cards would not be affected. Ten states - including New York, Florida, Texas and California - forbid such surcharges, but they're legal in Pennsylvania, New Jersey and Delaware, according to reports.