Banks and debt In an effort to find new customers, banks are aiming to help with a big public concern: debt relief. TD Bank, located on the East Coast, hosted a free pizza night for potential customers. Citizens Bank has promised to give new customers $1,000 if they are saving for their children’s college fund.
Consumer lending — loans lent to individuals — has been slow to recover from a two-year lull. Loans such as mortgages, auto loans, home equity lines of credit and personal loans aren’t impossible to get but are harder to get approved for. Banks are loathe to repeat mistakes that made them run for government cover.
Economic recovery Analysts are showing that some cities are closer to economic recovery than others, offering quicker debt relief to their populations. Overall, economists were anticipating national recovery to begin as early as summer of 2009, but definitely by the end of the year. They are noting some cities poised on recovery, while others are
Europe’s debt crisis is endangering U.S. economic recovery in the era of globalization. The Euro hit a new four-year low against the dollar Monday. Greece, Spain, Portugal, Italy and Ireland are dragging down the European Union faster than a recent pledge of nearly $1 trillion dollars in bailout money can prop the alliance up. Britain’s
The U.S. House and Senate will start on refining mortgage legislation Tuesday. The legislation would enforce the biggest overhaul to mortgage lending rules in decades. The mortgage legislation, part of the financial reform bill, is intended to end the risky lending practices blamed for causing the financial crisis. Mortgage industry lobbyists are working overtime to
Computerized billing systems are advertised as a way to make life easier. A $16 million cable bill is the latest in a long string of accidental overcharges that call that into question. While Time Warner has already reversed the bill, the incident reveals the danger of putting your finances on autopilot. The $16 million cable
Identity theft is one of the fastest growing crimes in America. Nearly 11 million credit card holders each year are victims of identity theft. While everyone is vulnerable, trends show that identity thieves are increasingly targeting children and job seekers. Ingenious identity theft scams Victims of identity theft in the U.S. lost an average of
The initial public offering of a company is usually a very closely and carefully watched event. Today, three separate company IPOs have gone very well. Calix Networks, MaxLinear and First Interstate BancSystem have all shown better-than-expected stock earnings. Calix and MaxLinear are both companies focused on internet infrastructure and are doing very well on the
Spending freeze and pessimism Sometimes it seems like the president just can’t win. For his first year in office, everyone said he was spending too much. Now that President Barack Obama has announced a spending freeze, Republicans are saying that’s impossible. Democrats are saying he’s pandering to Republicans. We elected the guy. Don’t you think,
The college student of 2010 Many college graduates are using installment loans to make ends meet. Angela Trummell, college graduate in 2010, said, “A lot of my friends are planning on going back home because they can’t afford post-college life. I really don’t want to do that.” Trummell is like a lot of students. They
The Bush tax cuts are scheduled to expire Dec. 31. The Obama tax plan would extend for two years the Bush tax cuts for everyone except those who make at least $200,000 a year. Republicans say raising taxes on the rich will stifle economic recovery. Obama says he can’t reduce the deficit and offer tax
Pandora is an online music service that claims about half of the online radio market. Pandora Media Inc., has filed its initial prospectus with the Securities and Exchange Commission. This is the first step toward a Pandora IPO expected to raise about $100 million. Pandora IPO filing The initial filing with the Securities and Exchange
Some things are a matter of opinion but the benefits of installment loans for people with bad credit are unquestionable. It is inevitable that people will need an installment-loan from time to time. It is especially likely that people with bad credit will need a short term loan sooner or later. With credit so tight
U.S. gas prices were 6 cents per gallon higher on average than the night before when Americans awoke Friday morning. Since Sunday, U.S. gas prices have spiked 12 cents per gallon, and the trend is expected to continue. Economists warn that an oil price shock could be a major setback to the U.S. economy. How
The deadline for the Federal Reserve to decide on whether to institute a debit card fee cap is in July. The Senate failed to extend the deadline in a close vote, and it appears the Fed will have to make a decision. The cap could have serious implications for consumers. Federal Reserve has weeks to
Subprime auto lending saw a resurgence in the third quarter, according to the credit reporting agency Experian Automotive. Bad credit car buyers were also getting approved for higher loan amounts. At the same time that auto credit markets were loosening, borrowers defaulting on auto loans also declined. Lending standards loosen According to Auto Loan Daily,
The Small Business Administration has been charged with helping businesses weather the recession, and money is running out. The 7(a) lending program provides loans, personal and large, to small businesses around the country. The program, which was funded by the American Recovery and Reinvestment Act, is currently in a holding pattern, waiting for more money.