Credit Cards Newest Area of Potential Problems for Banks
Banks and credit cards
Banks have suffered through the recession with huge mortgage industry defaults, but a new fear that credit cards will do the same is looming. Ken Lewis, Bank of America CEO, stated he believes that despite the government’s $700 billion rescue program, it will be “an awful year” [...]
New Poll Shows that Debt Relief is On The Way
Market May be Bottoming Out
Debt relief may be on the way according to a new AP poll called the Economic Stress Index. This index is a calculation that ranges from 1 to 100 and is based on the nation’s approximately rates of unemployment, foreclosures and bankruptcy totals. The lower the [...]
Banks Ready to Absorb Defaulting Credit Cards Next
The banking industry
Banks are bracing for their next big hit—defaulting credit cards. The mortgage world has taken its toll on the banks. Bank of America CEO Ken Lewis already warned Congress that despite the billion-dollar bailout, banks will have an “awful year” because of the credit card industry.
Of almost $76 [...]
Citigroup Pursuing Customers for Mortgage Loan Modification
Citigroup looking for applicants
Homeowners looking for mortgage loan modification programs are encouraged by Citigroup to apply with them. Many homeowners are finding that their mortgage payments are unmanageable due to the recession. Many are falling behind, or at risk of doing so in coming months. Citigroup is one lender that [...]
Invest Your Money Wisely | Avoid 2008’s Top 5 Biggest Losers
Where to go for good investment advice
Previously, I wrote about the Fortune 500 companies whose stocks performed well last year. If you want to see returns on your stock investments, look into dollar stores, food wholesalers and other types of discount retail. However, this article is about which companies lost the [...]
Reverse Stock Split to Save Citi?
Citi fighting to survive
The Associated Press reports from New York that Citigroup Inc.plans to stimulate the count of outstanding common shares and turn a reverse stock split. This will be a key element of the financial services company’s goal to convert preferred shares to common shares. Early trading following the [...]
Citigroup Program Helps Unemployed Homeowners
Bank temporarily reduces payments
Citigroup Inc. has stepped up to the plate when it comes to helping out people who are joining an ever-larger category: the unemployed.
The bank has started the Homeowner Unemployment Assist program, which allows unemployed mortgage holders who are late on their personal loans to make payments of [...]
U.S. Government Gives Another $30 Billion to AIG
Troubled insurance company needs more help
For the third time, insurance company American International Group has turned to the government for help. The feds threw the company an $85 billion lifeline more than a year ago. After TARP fund started being handed out, the financing for the company was modified, and the [...]
Treasury Unveils “Stress Test” For Banks
Obama reveals the secret formula
At what point will the government step in and take control of failing banks? That’s a question that a lot of Americans have been wondering about lately, and all we’ve known up to this point is that President Obama has made reference to a “stress test” [...]
Banks Halt Foreclosures | No Instant Payday Loans for Mortgages
Don’t grab that payday loan so fast
Homeowners considering getting instant payday loans to cover their mortgage so they don’t get evicted might be able to hold off.
Moratorium on foreclosures
Payday loans are great for keeping your credit in good standing if you use them to make mortgage payments on time. However, [...]
Citigroup Reveals TARP Fund Use | by Online Payday Loan Store
Bank comes forward after criticism
Your online payday loan store keeps you up to date on financial news.
Several weeks ago, a congressional watchdog panel came down hard on the Treasury for its use of the first $350 billion in bailout money. The panel accused the Treasury of not keeping track of [...]
Quick Payday Loans by Feds Bail Out Rich Saudi Prince | American Taxpayers To Float The Bill
The Injustice of it all!
Well everybody, you may be aware of the economic recession, the mortgage crisis, and the subsequent $700 billion dollar quick payday loans bailout that we as taxpayers get to foot the bill for, but, and this is a BIG but, did you know that yesterday the [...]
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