Financial
Financial news
rising oil prices

Rising gas prices could be a setback to recovering U.S. economy

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
Debit card

July deadline looming for ruling on debit card fee cap

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
bad credit car buyers would love this

More bad credit auto loans show credit markets staring to relax

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,
Open sign

SBA running out of low cost loans to businesses

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.
Kitten

How to finance your home improvement projects

According to Fox Business, Americans are likely to spend more than $121 billion on home improvement in 2010, so knowing how to finance home improvement is important. Here are seven financing options. How to finance home improvement: Seven possibilities Breaking a larger concept down into smaller parts makes it much less daunting; that includes how

New Year’s resolutions can help you find emergency money

Common New Year’s resolutions It’s not that difficult to find emergency money if you are willing to sacrifice. Now that the beginning of the year is here, many people are making New Year’s resolutions. Five of the most common are quitting smoking, exercising, eating healthier, decreasing debt and saving more money for emergencies. These are
File photo of TARP Inspector General Neil Barofsky.

Top TARP auditor Barofsky resigns as banks struggle to repay

As the $700 billion Troubled Asset Relief Program winds down, a surprise defection occurred, reports Reuters. Neil Barofsky, inspector general of TARP and the top financial industry bailout auditor, handed President Obama his resignation letter. Barofsky, who will leave his post March 30, did not give a reason for his resignation. Inspector General Barofsky appointed
IRS refund status

How to check IRS refund status

Checking IRS refund status is easy If it has been more than 72 hours since you electronically filed your taxes, it’s easy to check your IRS refund status. First, make sure you know the exact amount of your refund. Don’t round up or down! Also, have your social security number handy. You’ll also need to
An elderly man is receiving dialysis treatment.

Estate tax sends elderly racing for the grave

Provided Congress fails to pass legislation to keep it dead and buried, the estate tax will rise from the grave on New Year’s Day, 2011. According to the Associated Press, this has prompted many elderly estate holders and their heirs to consider desperate measures. U.S. Rep. Cynthia Lummis (R-Wy.) recently stated that a number of
Wedding Cans

Wedding Cans Update: Pete and Andrea’s saga continues

Wedding Cans goal is nigh Do you remember those Pete and Andrea characters I wrote about a couple of weeks ago? They started the Wedding Cans project to raise money for their wedding. Their goal was to recycle 400,000 aluminum cans to pay for their wedding. That gigantic mountain of cans — about five tons
Americans are still keeping a tight hold on their cash.

Warren Buffet Claims People Won’t Find Debt Relief Any Time Soon

Buffet’s claims Warren Buffet seems to believe that, despite what other experts are saying, consumers won’t find debt relief any time in the near future. “Everything I see about the economy is that we have had no bounce,” says Buffet. “There were a lot of excesses to be wrung out and that process is still

Tax breaks can provide fast cash for consumers

Finding additional tax deductions In today’s economy, almost everyone is looking for fast cash and using tax deductions may be a solution. The tax laws are always changing and new deductions are brought to the market. Unfortunately, not everyone is aware of them. Here is a list of the deductions that are most overlooked by
a credit card swipe at the register

Last round of new credit card rules limit late payment fees

The final package of new credit card rules went into effect Sunday. The latest rules limit late payment fees and other penalties. This completes a major overhaul of the credit card industry that was set into motion by the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009. One of the newest federal laws
an illustration of a hand stuffing money in a mortarboard

Student loan debt exceeds credit card debt as college costs rise

Americans now owe more for their student loans than their credit card debt. While people are paying down their credit card balances in the aftermath of the financial crisis, college costs continue to rise. Some analysts say less consumer protection for student loans than other types of borrowing is a reason for the trend. Others
HSBC Bank

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.