Financial

Bernanke says Fed should regulate all banks

Federal Reserve Chairman Ben S. Bernanke opposes a draft bill now in the Senate which would remove much of the central bank’s supervisory role and limit its authority to regulation of large bank holding companies. The bill, proposed by Senate Banking Committee Chairman Christopher Dodd, would limit the Fed’s supervisory authority to banks with more
US Federal Reserve, Washington, DC,

Will Federal Reserve Regulate Personal Loans and Credit Cards?

Will the Federal Reserve become the new financial regulator? President Obama is looking for ways to revamp policies concerning personal loans and credit cards. One proposal is to designate the Federal Reserve as regulator of the banking system as a whole. The Reserve would take on the responsibility of policing large firms, the demise of
Chris Dodd

New rules on credit scores taking effect this year

There are a new set of rules taking effect this year concerning credit scores. The financial reform bill, or the Dodd Frank financial reform act, changed federal laws regarding reporting of credit scores. If a person is applying for any large loans in the future, these are good things to know. Change in credit scores
Dubai sports some of the most striking Real Estate in the world, but that sector and banks are facing serious trouble. (Photo: flickr.com)

Personal Loans and the Great Middle East Crisis

A Bubble Waiting to Burst Dubai World, the state-run owners of Nakheel (the Real Estate arm of the Dubai Government) is reported to be defaulting on a $59 billion loan. This loan was used to finance numerous projects involved in construction in and around the city of Dubai. Did the financial wizards of the country
the national debt clock in times square at night

IMF report says U.S. better get serious about deficit reduction

The United States is in no position to lecture other countries about their financial condition, especially after an evaluation from the International Monetary Fund (IMF). Most of the report tells anyone following the news what they already know: there’s an economic recovery in progress, but high unemployment is dragging down consumer spending. However, the IMF
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
A stack of college textbooks

Student Loan Bill | Cutting out the middleman

Tucked inside the health care reform bill that congress passed on Sunday was a bill that will reform the student loan system. Focused mainly on how student loans are administered, the student loan bill will create $61 billion in savings over 10 years. Of those savings, $30 billion will be put back into education, while
Stock market ticker board, possibly on quadruple witching day.

Quadruple Witching: the stock market seasons change

Today is Quadruple Witching day on the stock market – the day where all four of the major linchpins of the stock market — market index futures, market index options, stock options, and stock futures — all expire. This “quadruple witching” happens the third Friday of every March, June, September, and December, and like the
Short term loans

Short Term Loans | $1,500 Deposit in 2 Hours

What are short term loans anyway? Short term loans are typically less than $1,500 and do not require faxing or credit checks. Short term loans are similar to installment loans for bad credit and bad credit auto loans. Short term loans are provided by most banks and other financial institutions, but they come at the

Unsecured loans being offered to college-aged consumers

Unsecured loans are the newest concern for young people. Now that credit card companies are in trouble, they are looking for new ways of generating revenue. The recession was a difficult time for everyone, and that includes credit lenders. Companies suddenly had to deal with huge losses as a result of defaulting loans. To mitigate
Record-High Deficit Makes Americans Use Short Term Loans

Record-High Deficit Makes Americans Use Short Term Loans

Deficit high Short term loans are a popular option with Americans as the deficit reaches record highs.  Budget deficit totals were released, and the federal deficit has surpassed $1.8 trillion, according to the White House.  That’s more than four times last year’s high. It’s reached this level because the stimulus package handed out billions more
Polish gold bars of varying sizes.

Gold futures hit record high, investors urged to jump in

There is a definite connection between currency values and the price of precious metals, and if today’s movement on gold futures is any indication, the world is experiencing a major shift. According to Marketwatch, Gold for December delivery went up $7.20 per ounce to an all-time high of $1,405 early Monday on the Comex of
Mortgage lenders are disqualifying pregnant women because tighter lending standards don't recognize maternity leave as income. Mahalie's photostream/Flicker.

Mortgage lending: Do not get pregnant if you want to buy a house

If you’re starting a family and would like to buy a house to raise your kids in, there’s something you should know. Women who are pregnant and plan to stay home to take care of the baby may not qualify for a mortgage loan. The economic meltdown, housing crisis and credit crunch have mortgage lenders
(Photo: flickr.com)

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
Interest Rate

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