Scam Watch | TARP Overseer Vows to Prevent Fraud
Transparency is inspector general’s main goal
So there’s good news and bad news. Obama is making good on his promise of transparency when it comes to distribution of TARP funds via Inspector General Neil Barofsky. The bad news is Barofsky has opened 20 criminal investigations to see whether tax dollars are [...]
JPMorgan Chase Says it Can Pay Back Treasury
Bank’s profit falls 10 percent
JPMorgan Chase & Co posted a lower profit this quarter than it did a year ago. Nonetheless, it says it will pay back $25 billion in TARP funds as soon as possible. Though it posted a profit loss, it wasn’t as big a drop as analysts [...]
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 Details Cash Advances to Banks
Banks get cash advances from government
The Treasury seems to be determined to make good on its promise to report all the cash advances it gives to banks using bailout money. Today it reported that it has dispersed $1.15 billion between 42 banks within the United States.
Biggest cash advances
Banks in 25 [...]
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 [...]
Financial Committee Head to Evaluate Payday Loans
Luis Gutierrez selected for chairman position
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U.S. Congressman Luis V. Gutierrez has been chosen to head the Financial Services Subcommittee on Financial Institutions and Consumer Credit, and payday loans are high on his agenda. The Democratic Caucus selected the Democrat from Illinois, and the Full Committee will vote on his appointment on [...]
Tax Cuts Pushed Through | Is Payday Loan Legislation Next?
Tax cuts clear House committee
Payday loan restrictions aren’t on the agenda for Congress yet; they have urgent work to do in order to fix the country’s failing economy. Today House Democrats began to push through legislation that will shape Barack Obama’s American Recovery and Reinvestment Plan.
The plan, estimated to cost [...]
Bailout Money Released | Article by Your Payday Loan Source
Your payday loan source keeps you updated on the nation’s financial news.
Showing the money
On the same day House Democrats unveiled their version of the economic recovery plan, Congress agreed to release the remaining $350 billion slated for bailout money to ease the mortgage crisis.
Thought Barack Obama is not officially president [...]
Treasury Blasted for Use of TARP Funds | by Payday Loans Source
While some Americans were taking out small payday loans just to buy groceries, the U.S. government approved a plan to give the Treasury $700 billion to resolve the housing crisis. Now a congressional watchdog panel is saying the Treasury has done nothing to ensure the money was used to stabilize [...]
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