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The following is the text of
the Federal Reserve Board’s Fourth District– Cleveland.

FOURTH DISTRICT – CLEVELAND

The economy in the Fourth District grew at a modest pace since
our last report. Manufacturers reported a small increase in
production, while activity in residential and nonresidential
construction picked up slightly. Many retailers and auto dealers
characterized February sales as good. Energy production was
stable except for shale gas, where activity expanded. Freight
transport volume trended higher at a moderate rate. And the
demand for business and consumer credit improved slightly.

Hiring remains at a low level...

The Education Foundation of Independent Bankers Association of Texas launched its 2012 IBAT Teach the Teacher series on April 14 at West Texas Aamp;M University in Amarillo. A pilot program occurred in October at Baylor University, and three additional IBAT Teach the Teacher programs are planned by the end of 2012.

The goal of the one-day program, is to provide educators with engaging and practical approaches to teaching money management to high school students. Fifty teachers from 20 school districts across West Texas– affecting 8,000 students — registered to attend. Participants receive six hours of Texas Education Agency approved continuing-education credit and an incentive...

ROCK HILL Cinium Financial Services Corp. now rolling out its contractor credit program to 50 states reminds CEO Robert Berman of Hospitality Worldwide Services, one of the many other companies hes led.

The logistics, furniture purchasing and hotel renovation company, like Cinium, began small and privately held. But, in just a few years in the mid-to-late 1990s, it went public and exploded to 2,000 employees.

I have the same feeling with this company, where it is at this time, as with HWS, Berman said. It went from 0 to 100 miles per hour in 2 seconds.

But, Hospitality Worldwide was on shaky financial ground by 2001, after the board dismantled its hotel and real estate...

Plant City, FL — (SBWIRE) — 04/26/2012 — With the current economic slump and housing market woes, RentUntilYouOwn.com, a residential real estate website that specializes in rent to own homes, is helping buyers acquire a home. Families, and individuals, who are unable to get into a home via the traditional mortgage channels, may be able to finally buy a dwelling through the use of a lease-purchase or rent to own agreement.

According to Zillow, a renowned online real estate marketplace, almost a third of Americans, 29.3 percent to be exact, would fail to qualify for a mortgage due to low credit scores; even those who can afford a substantial down payment on a piece...

American consumers still reeling from a lingering economic slowdown are being held back by low credit scores that can complicate their financial lives, according to a recent survey by American Consumer Credit Counseling. Nearly 40 percent of those surveyed reported scores below 620 generally considered the cut-off point for sub-prime credit and high interest rates. More than 20 percent have scores below 580 making it difficult or impossible to qualify for a mortgage, car loan and many credit cards.

Of 819 consumers surveyed in the recent ACCC web poll at ConsumerCredit.com, just 18 percent reported credit scores above 700. Banks, mortgage companies and other credit...