Why Worry About Bank Failures?

Depositors Must Retain Confidence Depositor confidence in the banking system is vital to the working of the modern economy. Banks lend out money assuming that they are not going to face a situation where all their depositors demand to withdraw funds simultaneously. At the same time, depositors entrust their money to the bank, believing they
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U.S. Supreme Court to consider credit card notification

The U.S. Supreme court has announced that it will consider a case involving credit cards. McCoy v. Chase Manhattan Bank, USA, will be heard by the Supreme Court during its next session, which begins in October. The case is a class-action suit that alleges credit card companies cannot retroactively increase the interest rate on a
Air conditioners in a line

7 easy ways to qualify for 2011 Energy Tax Credits

In 2009 and 2010, taxpayers could qualify for up to $1,500 for making home updates. The Energy Tax Credits for 2011, however, are being significantly reduced. Most homeowners can still qualify for up to $500 in energy tax credits, which can reduce the sting of home update costs. Basics of Energy Tax Credits The Energy

Wireless payment network to debut in Salt Lake City

Salt Lake City, Utah, will soon begin experimenting with a wireless payment system in conjunction with three wireless networks. The system, called Isis, is set to debut in 2012 and will use cellular phones to wire payments from a person’s credit or debit line with a bank. Cell phone credit card technology takes another step

Online Cash Advances Are A Necessity For Most

Stay on top with online cash advances As the end of the month approaches, various bills start catching up with you. If you have run out of cash and are unable to pay these bills on time, you will have to delay the payment until you receive your next paycheck. But, in doing so, you
Dictionary defines 'insurance"

Hybrid policies replacing traditional term life insurance

The nature of long-term care and life insurance policies has changed rapidly in these uncertain financial times.  Many consumers are reluctant to put up large amounts of money for future benefits, especially when those  benefits may never become necessary.  The insurance industry has countered this trend by offering combination products that blend long-term-care with traditional
currency symbols rendered in gold, dollar sign measured with calipers

India seeks elite status with new currency symbol for the rupee

The arcane subject of currency symbols became a hot topic Thursday when India announced that it will implement a unique symbol for the Indian Rupee in world financial markets. Until now, there has been no currency symbol for the Indian rupee, just the abbreviation Rs, Re, or INR. India’s Union Cabinet is expected to finalize
an old bank vault door with a person standing in it

FDIC payday loan alternative program helps banks try to compete

A pilot program designed for banks to provide alternatives to payday loans has been developed by the Federal Deposit Insurance Corporation (FDIC). The FDIC issued a report June 24 about the final results of the small dollar loan pilot program launched in 2008. The program was deemed a success. However, the number of loans made

Two Senate Republicans defect to help pass small business bill

Few who understand Congress expected lawmakers to succeed in passing a small business bill before the November midterm elections. But two Republican senators who are not seeking re-election crossed party lines to give Democrats the votes they needed. After a summer of partisan bickering, the Senate passed a small business bill Thursday. The legislation aims

Lend America Accused of 20 Years of Mortgage Fraud

Ideal Mortgage Bankers no more If you were thinking about getting an FHA-backed loan through Lend America, it’s time to come up with a different plan. Lend America, operated by Ideal Mortgage Bankers, has shut down. Ideal Mortgage Bankers also originated mortgages under the moniker Lending Key, but Ideal Mortgage Bankers is officially out of

Crime and cash advances have nothing to do with each other

Claims have been made that when lenders offering cash advances move into an area, crime is sure to follow. There have been many problems throughout history attributed to things that have nothing to do with them. For instance, crime used to be blamed on people drinking alcohol. When Prohibition went into effect, violent crime increased
the devastation left behind by mountaintop removal mining companies

Big banks backing away from financing mountaintop removal mining

Banks are starting to have second thoughts about making loans to companies that destroy the environment. Banks have made huge profits financing destructive industries such as mountaintop removal mining. However, pressure by environmentalists and court decisions holding banks accountable for financing environmental destruction are mounting. A growing number of banks are choosing to avoid environmental
A gentleman and his lady, both of the "Baby Boomer" generation, are seated poolside.

Baby Boomers could pay off national debt as parting gift

As of now, the National Debt Clock reads nearly $13.5 trillion. That’s what the United States government owes to satisfy its debts. Individual debt is separate and equally massive. Atlantic Magazine argues that it can’t be an infinite spiral. As the nation’s annual gross domestic product is only about $14 trillion, someone has to step
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

CFA Institute says financial analysts aren’t making the grade

Pass rate for CFA exam lowest in years One of the ways America can get itself back on track financially is to turn out a solid crop of new financial analysts who can apply sound principals to the way we manage our money, both personally and professionally. Payday loans are a short-term bridge, but sound
two hands in a tug of war with a credit card

Fed survey shows lending standards easing for first time in years

Lending standards are showing signs of easing, according to a Federal Reserve bank survey. It’s getting easier to get a new credit card for the first time in three years. For the first time in four years, banks have loosened lending standards for small businesses. Lack of small business credit has been identified as a