Seven banks cannot meet capital requirements in Euro stress tests

After the Greek debt crisis began to wreak havoc in European financial markets, a series of stress tests were devised to see whether European banks could handle any further shocks. After the tests were administered, it was determined that seven major European banks could not handle further strains as they did not have sufficient reserves

People Looking for Emergency Money Try Selling their Gold

Finding emergency money in a difficult economy Emergency money can be hard to come by for consumers having financial problems. The recession has hurt businesses and individuals. Its left both with huge shortfalls in budgets and few options to make money stretch. One thing increasing numbers of consumers are using to find extra cash is
John Rockefeller

Cash advance lenders do not make huge gains

The way payday loan and cash advance lenders are talked about, people may think they sit atop piles of cash. Contrary to popular belief, short term loan lenders aren’t the extortion artists many believe they are. In fact, the typical payday loan lender doesn’t make a lot from loans. The profit margins are pretty slim.
An H&R Block storefront

Loss of refund loans causes mounting losses at H&R Block

Tax preparation giant H&R Block has just filed for another quarterly loss, despite it being the busiest quarter of the year. Though tax return season is when tax preparers make the bulk of their income, the loss of the refund anticipation loan product has cost Block dearly. The loan against tax refunds is facing extinction

Are You Under-Educated about Finances?

National Bureau of Economic Research There is more bad news according to a recent survey done by the National Bureau of Economic Research. The survey, titled “Financial Literacy among the Young” showed that fewer than 33% of young adults from 20 to 30 years of age have a basic knowledge of interest rates, inflation and
Federal minimum wage

Federal Minimum Wage and U.S. Labor Laws

Federal minimum wage 2009 Since July 24, 2009, the federal minimum wage has been $7.25 per hour. That means in every state in the United States, employers must pay workers at least $7.25 per hour. In Washington, D.C., it means employers must pay $8.25 per hour because the law there dictates they must pay $1
Open sign

Treasury kicks off small business lending with $53.4 million

Three states have qualified to get big money from the Treasury Department. The Treasury Department has infused $53.4 million into lending programs in Connecticut, Vermont and Missouri. All three states have created programs that are intended to stimulate $10 worth of small business lending for every $1 invested. The Small Business Jobs Act Small businesses
debt consolidation loan

Do your homework and think hard about a debt consolidation loan

If you’ve ever considered a consolidation loan to facilitate credit card debt reduction, now is a good time. Banks are reported to be loosening credit standards and interest rates are very low. However, make sure you’re consolidating debt for the right reasons, and do your homework to get the best deal. Be aware of debt

Plan Ahead and You Won’t Need a Tax Refund Loan

Keep your cash and get a quick tax refund If you’ve ever used a tax preparation service and been owed a refund, chances are you’ve also been offered a refund anticipation loan (RAL). More than 12 million Americans receive a tax refund every year, and many of them succumb to the temptation to take out
No Faxing Cash Advance Loans

No Faxing Cash Advance Loans Online

Get up to $1500 in as little as 2 hours In financial emergencies, there are tons of different no faxing cash advance and installment loan companies to choose from, but many have high fees and many require a load of documentation and formalities. In all likelihood, you won’t have time to go through such formalities
luxury real estate

Million-dollar home sales increase as prices continue to slide

Sales of homes that cost millions rose dramatically in major U.S. cities last year. Wealthy Americans prospering from a rebound on Wall Street are taking advantage of low interest rates on jumbo loans and falling home prices to land unprecedented bargains. Meanwhile, home sales overall are stalling, and analysts expect home prices to decline another
Car buyers and sellers are ready to make a deal.

Consumers Are Using Installment Loans To Buy Cars

Car buying Consumers are once again turning to installment loans as they move back into car-buying mode. Throughout the recession, many people have put off purchases of big-ticket items such as cars and homes. Dealers all over were feeling the crunch of the economy as many people fell into the unemployment lines and struggled financially

Americans losing faith in mortgage loans and real estate

Americans are becoming less convinced that getting mortgage loans to buy real estate is a good idea. A recent survey found that the number of people who believe owning a home is a worthy investment has dwindled to the lowest level in years. Home sales have been sluggish to recover from the housing crash. Fewer
rental vacancy rates

Falling vacancy rates signal sharply rising rents in near future

After about a decade of very low rent inflation, rising rents are emerging as a consequence of economic recovery. Rental vacancy rates have been dropping sharply, and rental market analysts are warning that double-digit rate increases are on the horizon. Further economic recovery may be at stake as rising rents feed inflation and subtract further
Surround yourself with successful people.

Nine Powerful Keys to Financial Freedom

Step by Step Success Strategies Success Key Number One Accept that financial freedom is possible. Many cannot imagine going through debt repair, being debt free or possessing the freedom to design one’s own lifestyle by having access to a healthy cash flow. Therefore, the first step in achieving financial freedom involves believing that such a
A woman looking at her checkbook with a resigned expression

How to avoid personal finance mistakes that cost a lot of money

A lot of people make financial mistakes by spending money without thinking. Living for today and forgetting about tomorrow can get you in trouble. Of course, nobody is perfect and it’s no fun being a tightwad. But personal financial management will help you avoid big mistakes that hold you back from where you really want

The Role of the Office of the Comptroller of the Currency

Introducing the OCC Readers of financial reports are certain to encounter references to the Office of the Comptroller of the Currency. While not every organization with such an imposing-sounding name has a correspondingly important function to perform, this allegation cannot be made about the OCC. This agency is responsible for chartering and supervising American banks