By admin | March 17, 2009
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Why bailout money goes to banks
San Francisco Chronicle, USA In the modern economy, Clark said, a "pyramid of credit" stands on a small amount of actual money. That credit constitutes the economy's money supply. It "depends on all of these loans that people are making to each other, and basically if those loans … |
By admin | March 17, 2009
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Rate of mortgage fraud falls in California
Los Angeles Times, CA When home prices were rising, lenders looked the other way and did not want to admit that they had bad loans on their books, the report says. Now that prices are dropping and the extent of loan fraud is becoming more obvious, the industry has tightened … |
By admin | March 17, 2009
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50 years later, Chacon Autos remains in the game
Dallas Morning News, TX Unlike most note lots, Chacon does not traffic in high-mileage "beaters" marked up dramatically to reflect the risk of selling to people with bad credit. "We don't buy cars for $2000 and sell them for $10000," Gary Chaney said. "It doesn't work for us. … |
By admin | March 17, 2009
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Capital One's Credit Card Rate Of Bad Loans Up In Feb.
CNNMoney.com Capital One's rate of bad loans in the US card segment was up in January from 7.71% in December. Credit card payments more than 30 days late rose to 5.1% from 5.02% in January. The bank's net charge-offs in the auto-finance segment fell from 6.09% in … Capital One's Labored Outlook Forbes Capital One credit results better than expected Reuters Davenport Re-initiates Coverage on Capital One Financial (COF … StreetInsider.com (subscription) all 18 news articles |
By admin | March 17, 2009
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Bad credit blocks tax-refund loans
Columbus Dispatch, OH Consumers might be expected to know that loans typically require a credit check, but the people who seek refund loans "are not the most sophisticated financially in the country," said Robert Kerr of the National Association of Enrolled Agents, … Tighter credit make tax refund loans harder to get MSNBC all 15 news articles |
By admin | March 17, 2009
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Texans Credit Union saddled with bad debt after straying from roots
Dallas Morning News, TX But now bad loans are piling up, and Texans posted an annual loss last year – the first since it was founded. That year, 1953, it lost $32.92. In some ways, the credit union's troubles reflect the lending boom and bust that have come to define the US … |
By admin | March 17, 2009
 Credit.com News |
Bill would limit loan, credit card rates
Los Angeles Times, CA "But I think the American people are disgusted with the financial industry. They want change." You could argue that an interest rate of 15% or 18% is more than enough to accommodate any amount of risk on the lender's part. If a loan appears riskier … Sanders seeks interest rate cap Bennington Banner all 15 news articles |
By admin | March 17, 2009
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Capital One credit card rate of bad loans up in February
MarketWatch The rate of bad loans in the US card segment was up in January from 7.71% in December. The McLean, Va., credit-card issuer and bank said delinquencies in the US card segment, including the domestic credit-card business, small-business lending and … |
By admin | March 17, 2009
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Making credit good again
Los Angeles Times, CA It would allow people with past credit problems to qualify for loans that do not expose them to excessive risks and that start off with manageable mortgage payments relative to their incomes. No more open lines of credit to students who have no income … |
By admin | March 16, 2009
 SanFranciscoSentinel.com |
NAACP: Wells Fargo, HSBC Racism Class Action
Right Pundits, CA Did someone force them into bad loans, or did they (gasp) sign them of their own freewill, and now must suffer the consequences? The National Association for the ADVANCEMENT of Colored People continues to advocate treating its constituents like whiners … NAACP says bank giants steered blacks to bad loans WEAR NAACP Accuses Banks of Forcing African-Americans Into Risky Home Loans Attorney at Law NAACP says bank giants steered blacks to bad loans The Associated Press WISN.com all 611 news articles |
