Personal Loans
Loan

Texas rolling unemployment loan to the private market

Unemployment is high, and with up to 99 weeks of benefits available, states have paid out a lot. The federal government has provided loans to most states to fund unemployment benefits. The interest payments on those loans are coming due, and some states are seeking creative solutions. Federal unemployment loans In order to keep unemployment
JP Morgan Chase building

JPMorgan Chase pays $27 million in Treasury probe

JPMorgan Chase bank has agreed to pay a $2 million fine to settle claims that it used false statements and high-pressure sales tactics in some of its auto loan products. The company has also previously paid out about $25 million to reimburse customers who bought the loans. Fines levied by the OCC The $2 million
Area of the Sonora Desert in Scottsdale, Ariz.

Small business lending drought has hurt Scottsdale, Arizona

Convincing banks to write short term loans for any size business has been difficult lately. Large-scale operations with multiple sources of capital can subsist, but small businesses like those in Scottsdale, Ariz., need short term loans in order to operate and expand. The Arizona Republic reports that banks and businesses have very different views of
Mother Duck and Ducklings

Proposed consumer protection agency to target lenders

In the wake of the Wall Street collapse and the ongoing investigation of Goldman Sachs, there are calls for a consumer protection agency, or multiple ones. There seems to be a real need for some financial reform, but which consumer protection laws should be put forth are a point of contention.  Part of the proposed
Credit Card

Consumers borrowing more money but not from credit cards

An increasing number of people are borrowing money, but more people are getting personal loans rather than using credit cards. The Federal Reserve released data that show consumer borrowing rose by several billion dollars in January, but it was from non-revolving credit sources. Credit card use dropped at the same time. Debt levels rise as
A man posing in a lotus position

Credit Karma offers an emerging new model for free credit scores

Credit Karma is one of many websites that have emerged offering free credit scores. Learning your credit score is easier now, thanks to the financial reform bill signed into law this month. Financial reform legislation, otherwise known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, requires lenders to show you the credit reports
a black and white of a cadillac interior

Do not fall for auto loan modification scams asking upfront fees

Ads for auto loan modification scams are all over the Internet. Auto loan modification companies promise to negotiate with lenders to get customers lower car payments — for a hefty upfront fee. But consumer advocates and government regulators say most auto loan modifiers promising lower car payments will take your money and provide little or

Know your credit score, and take steps to raise the number

To improve your credit score, nothing works better than paying off your credit cards and taking them out of your wallet. Knowing your credit score is the most basic fundamental of credit repair. But it’s even more important to know what affects  your credit score. And even more important than that is knowing what you
A payday loan store

Installment loan lenders thrive where payday lenders used to

Many states have tried to eliminate payday loan lenders, but it hasn’t eliminated the need for credit from non-bank sources. Some states have new installment loans stores where payday loan stores once existed as other forms of short term credit fill the void. Virginians frequenting pawn shops and title lenders more Many states have passed
Bridge

Bridge Loan basics: Financing short-term obligations

Though the term comes up most often during real-estate transactions, bridge loans are becoming more popular for many reasons. Bridge loans are relatively simple to understand. Like most financial products, however, the details are what can make a bridge loan work out — or not. Bridge loan basics A bridge loan began as a form
goldman sachs insider trading

SEC charges ex-Goldman director Rajat Gupta with insider trading

The level of notoriety that Goldman Sachs either enjoys or endures increased Tuesday. The Securities and Exchange Commission filed insider trading charges against Rajat K. Gupta, one of its former board members. Goldman Sachs was also forced to admit that it could lose billions from lawsuits by investors who were bilked by the bank during
Aerial photo of the Chicago skyline, taken during daytime hours.

Acción promotes success for Chicago microentrepreneurs

When individuals in the Chicago area need fast cash to cover for an accidental budget shortfall, they can apply for Chicago installment loans and Chicago short term loans. However, if a small business needs money to get off the ground or perform the renovations needed to expand, consumer short term loans and installment loans aren’t

Citibank exposes 600,000 customers to potential identity theft

Do you remember the series of commercials Citibank produced about identity theft? You will probably find them somewhat less than entertaining if you are one of the 600,000 Citibank customers whose Social Security number was printed on the outside of the postal envelope containing your year-end tax statement. “Identity theft? What’s that?” exclaims an incredulous
Pencil

Getting a loan in the UK could require taking a test

In the United Kingdom, new rules are being considered that would make loans for anyone that may need extra cash a little more difficult. After the Learning and Skills Council discovered that 9 out of 10 customers couldn’t calculate basic financial numbers, ministers took note. Now, new regulations may require customers that need loans to
The American Express, VISA and MasterCard logos displayed on a storefront sign.

Consumer credit increased by $1.3 billion in November

Bloomberg reports that consumer credit rose for the second straight month in November, a sign that consumer confidence may be on the rise. The $1.3 billion November increase in consumer lending, paced by government-held student loans, followed a $7 billion increase in October. Consumer credit increased in auto, education fields Non-revolving loans such as auto
Unemployment money

Federal government might defer interest on unemployment loans

Though it still needs to go several rounds through Congress, the president has submitted his budget. One line-item has many states taking a second look at their budgets. States that took out federal loans to pay for unemployment may be able to defer interest for another few years. Unemployment insurance loans In order to pay
Keys

Mortgage modification complicated by scofflaw lenders

The Making Home Affordable Modification Program is a federal government program started in early 2009 as a response to the foreclosure crisis. It is intended to support mortgage modification, mortgage refinancing and other affordable home options for homeowners stuck in mortgages they cannot pay. This program, however, has been running into consistent problems with lenders.