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New bill restricts credit card handouts (The Oracle)
Posted: May 31st, 2009, 11:28pm EDT
With changes set to take place in the credit industry, college students may soon find it harder to obtain credit cards. Students have mixed views on what a new bill requires them to do. -
Breaking Bad, "ABQ": Reviewing the season finale (The Star-Ledger)
Posted: May 31st, 2009, 10:08pm EDT
Bryan Cranston in the "Breaking Bad" season finale.Spoilers for the "Breaking Bad" season two finale coming up just as soon as I underwrite a fun run...... -
Breaking Bad: Vince Gilligan season two finale interview (The Star-Ledger)
Posted: May 31st, 2009, 10:07pm EDT
What was the "Breaking Bad" burnt teddy bear all about?As we come to the end of "Breaking Bad" season two, it's time to talk to series creator Vince Gilligan about the implications of the teddy bear, the journey Walt has... -
CIBC feels the pain on toxic credit investments (National Post)
Posted: May 31st, 2009, 6:40pm EDT
It reported a writedown of $475-million for the second quarter, on top of nearly $10-billion that it has taken since the credit crunch began nearly two years ago -
Writer cashes in on credit crunch (Channel 4)
Posted: May 31st, 2009, 1:57pm EDT
An Australian hedge fund manager is hoping to cash in on the credit crunch by writing a novel, and now a screenplay, about the global financial meltdown. -
CIBC feels the pain on toxic credit investments (National Post)
Posted: May 31st, 2009, 12:55pm EDT
It reported a writedown of $475-million for the second quarter, on top of nearly $10-billion that it has taken since the credit crunch began nearly two years ago -
Writer cashes in on credit crunch (ITN via Yahoo! UK & Ireland News)
Posted: May 31st, 2009, 12:38pm EDT
An businessman is cashing in on the credit crunch by writing a novel and a screenplay about it. -
The credit crunch (Reno Gazette-Journal)
Posted: May 31st, 2009, 10:01am EDT
If the foundation of modern-day America could be boiled down to three principles, it would be life, liberty and the pursuit of easy access to credit. -
Co-signing for kid's credit card a bad idea (The Columbus Dispatch)
Posted: May 31st, 2009, 6:19am EDT
Parents should be particularly elated about one section of the freshly adopted credit-card law that could keep young people out of debt. -
CIBC feels the pain on toxic credit investments (National Post)
Posted: May 31st, 2009, 5:00am EDT
It reported a writedown of $475-million for the second quarter, on top of nearly $10-billion that it has taken since the credit crunch began nearly two years ago -
The credit crunch (Reno Gazette-Journal)
Posted: May 31st, 2009, 3:46am EDT
If the foundation of modern-day America could be boiled down to three principles, it would be life, liberty and the pursuit of easy access to credit. -
Borrowers with good credit fuel foreclosures in 1Q (Builder Magazine)
Posted: May 31st, 2009, 2:23am EDT
NEW YORK - The mortgage crisis is spreading and hitting new heights: Borrowers with good credit now make up the largest share of foreclosures as job losses and pay cuts exact their toll. -
Credit cards: The new rule (The Meridian Star)
Posted: May 30th, 2009, 10:45pm EDT
With the stroke of a pen on May 22, President Obama authorized major changes to the way American credit card issuers do business. In the President’s view, these are “common-sense reforms designed to protect consumers.” -
LIVE MAGAZINE SPECIAL INVESTIGATION: The great carbon credit con (Daily Mail)
Posted: May 30th, 2009, 4:52pm EDT
LIVE MAGAZINE SPECIAL INVESTIGATION: The great carbon credit con -
CIBC feels the pain on toxic credit investments (National Post)
Posted: May 30th, 2009, 3:40pm EDT
It reported a writedown of $475-million for the second quarter, on top of nearly $10-billion that it has taken since the credit crunch began nearly two years ago -
Credit law revamp could cost jobs (Daily Telegraph)
Posted: May 30th, 2009, 9:00am EDT
MOVES by the federal Government to tighten up on bad loans could backfire with a new study forecasting that 24,000 jobs could be lost as a result. -
CIBC feels the pain on toxic credit investments (National Post)
Posted: May 30th, 2009, 5:56am EDT
It reported a writedown of $475-million for the second quarter, on top of nearly $10-billion that it has taken since the credit crunch began nearly two years ago -
Arizona's credit unions also hit hard by bad consumer loans (The Arizona Republic)
Posted: May 30th, 2009, 5:20am EDT
More than one-third of Arizona's credit unions lost at least $1 million during the first quarter of the year. -
Arizona's credit unions also hit hard by bad consumer loans (The Arizona Republic)
Posted: May 30th, 2009, 3:30am EDT
More than one-third of Arizona's credit unions lost at least $1 million during the first quarter of the year. -
Housing's good credit turns to bad dream (The Indianapolis Star)
Posted: May 30th, 2009, 2:16am EDT
Indiana homeowners are falling behind on their mortgage payments in a big way, missing monthly due dates and leading much of the nation in delinquencies. -
Singletary: Rein in under-21 credit use (Modesto Bee)
Posted: May 30th, 2009, 2:04am EDT
Parents should be particularly elated about one section of the freshly adopted credit card law that -
High-roller has bad feng shui in US casino: report (AFP via Yahoo! News)
Posted: May 30th, 2009, 1:21am EDT
A Taiwanese man who lost two million US dollars in Las Vegas is threatening to sue the casino for using feng shui to cause his losing streak, a report here said. -
Housing's good credit turns to bad dream (The Indianapolis Star)
Posted: May 30th, 2009, 1:07am EDT
Indiana homeowners are falling behind on their mortgage payments in a big way, missing monthly due dates and leading much of the nation in delinquencies. -
Georgia’s $1,800 credit kicks in Monday (Macon Telegraph)
Posted: May 29th, 2009, 11:01pm EDT
A new state income tax credit starts Monday, giving potential home buyers six months to buy a house and get up to $1,800 back from the state over the next few years. -
Georgia’s $1,800 tax credit kicks in Monday (Macon Telegraph)
Posted: May 29th, 2009, 11:01pm EDT
A new state income tax credit starts Monday, giving potential home buyers six months to buy a house and get up to $1,800 back from the state over the next few years. -
CIBC feels the pain on toxic credit investments (National Post)
Posted: May 29th, 2009, 9:29pm EDT
It reported a writedown of $475-million for the second quarter, on top of nearly $10-billion that it has taken since the credit crunch began nearly two years ago -
Consumers Warned Against In Store Credit Cards (CBS 13 Baltimore)
Posted: May 29th, 2009, 8:19pm EDT
Those who sign up for in store credit cards could be getting more than they bargained for, including bad credit. -
Beg, borrow or get a dog to get credit (Guardian Unlimited)
Posted: May 29th, 2009, 7:02pm EDT
Shazia recently received a premium credit card offer with a good limit and good terms. She was somewhat surprised, considering that she didn't even apply for the card, has never borrowed before, doesn't have a job, lives with her parents, and doesn't have any savings. Oh, and she's 11 years old. Even stranger was the case of Missy, who received a similar offer for a credit card, although I ... -
RBC posts loss on charges and bad loans (Reuters via Yahoo! Canada News)
Posted: May 29th, 2009, 9:50am EDT
Royal Bank of Canada notched its first quarterly loss since 1993 on Friday as it wrote down the value of its U.S. assets and set aside nearly C$1 billion ($900 million) to cover bad loans, sending shares 3.1 percent lower. -
CIBC feels the pain on toxic credit investments (National Post)
Posted: May 29th, 2009, 5:27am EDT
It reported a writedown of $475-million for the second quarter, on top of nearly $10-billion that it has taken since the credit crunch began nearly two years ago -
Credit Relief May Not Last Long (New York Times)
Posted: May 28th, 2009, 9:40pm EDT
The worst of the credit crisis appears to be over, but enthusiasm may still be getting ahead of reality. -
Credit Relief May Not Last Long (New York Times)
Posted: May 28th, 2009, 9:10pm EDT
The worst of the credit crisis appears to be over, but enthusiasm may still be getting ahead of reality. -
Borrowers with good credit fuel foreclosures in 1Q (AP via Yahoo! News)
Posted: May 28th, 2009, 5:16pm EDT
The mortgage crisis is spreading and hitting new heights: Borrowers with good credit now make up the largest share of foreclosures as job losses and pay cuts exact their toll. -
English Averts N.Z. Credit Rating Cut With Tax-Cut Delays (Bloomberg)
Posted: May 28th, 2009, 5:13pm EDT
May 29 (Bloomberg) -- New Zealand’s budget, unveiled yesterday, averted the threat of a credit-rating cut by Standard & Poor’s that would have driven borrowing costs higher and delayed a recovery from the worst recession in three decades. -
Bad loans rise (Stuff)
Posted: May 28th, 2009, 3:53pm EDT
Three of Canada's largest banks reported stronger-than-expected results even as they set aside more money to cover bad loans and detailed a raft of write-downs for credit and market losses. -
Denied credit? (CNN Money)
Posted: May 28th, 2009, 1:01pm EDT
You're not alone. Credit card companies are tightening their underwriting standards as they try to pare down their debt. Here is some advice on how to cope if you've been denied credit. -
How to Beat Rising Credit Card Rates (FOX 23 Maine)
Posted: May 28th, 2009, 12:58pm EDT
If your credit card company recently hiked your interest rate, you're not alone. Nearly all the major creditors did it, citing the bad economy as the reason. But the Better Business Bureau says you can fight back. (Provided by News 13) -
Canada's banks beat expectations, but bad loans rise (Reuters via Yahoo! News)
Posted: May 28th, 2009, 9:37am EDT
Three of Canada's largest banks reported stronger-than-expected results on Thursday even as they set aside more money to cover bad loans and detailed a raft of writedowns for credit and market losses. -
New Credit Card Terms Cause New Disputes (Washington Post)
Posted: May 28th, 2009, 8:48am EDT
I was deluged with e-mails from many credit card users who were incensed at my recent column. -
Inmate gets extra credit for hard time (Kitchener - Waterloo Record)
Posted: May 28th, 2009, 3:43am EDT
WATERLOO REGION (May 28, 2009) -- A Kitchener judge gave an inmate at the Maplehurst correctional centre extra credit for time he spent in pretrial custody yesterday after hearing about conditions the man endured during a recent work slowdown. -
Credit Insurers Raise Rates in Germany as ‘World Is on Fire’ (Bloomberg)
Posted: May 28th, 2009, 3:38am EDT
May 28 (Bloomberg) -- Credit insurers, including Euler Hermes SA, Atradius NV and Coface SA, have raised premiums by as much as 20 percent this year in Germany and may increase them more as defaults climb amid the financial crisis. -
Credit card rules shield good customers, Bayh says (Fort Wayne Journal Gazette)
Posted: May 28th, 2009, 2:13am EDT
Credit card companies should think twice before raising fees on responsible customers to compensate for new regulations, Sen. Evan Bayh said Wednesday. -
Would lower merchant credit fees help consumers? (Everett Herald)
Posted: May 28th, 2009, 2:12am EDT
The Government Accountability Office has been ordered to study the use of credit by consumers, and in particular the effect interchange fees have on consumers and merchants. -
Credit Insurers Raise Rates in Germany as ‘World Is on Fire’ (Bloomberg)
Posted: May 28th, 2009, 2:07am EDT
May 28 (Bloomberg) -- Credit insurers, including Euler Hermes SA, Atradius NV and Coface SA, have raised premiums by as much as 20 percent this year in Germany and may increase them more as defaults climb amid the financial crisis. -
Everyone pays for credit card fees (Lawrence Journal-World)
Posted: May 28th, 2009, 1:30am EDT
The Government Accountability Office has been ordered to study the use of credit by consumers, and in particular the effect interchange fees have on consumers and merchants. Many people may not be aware of these fees, but for lenders, merchants and consumer advocates, the fees are the next credit-related issue Congress may take up. -
Integra gets marching orders on bad loans (Evansville Courier & Press)
Posted: May 28th, 2009, 12:47am EDT
Federal banking regulators are taking formal action to ensure Integra Bancorp deals with bad loans on its books. On Wednesday, Integra announced it had entered into an agreement with the Office of the Comptroller of the Currency, listing steps the bank must take to overcome its troubles. -
New Credit Card Rules Could Hurt Consumers (WTVM 9 Columbus)
Posted: May 27th, 2009, 5:48pm EDT
COLUMBUS, GA (WTVM) - "At the time, I did not have anything on the card, so I had a zero balance!" However, that didn't stop Jeannie Smith's credit card company from raising her rate. -
Outside editorial: The good, the bad and ugly of credit card legislation (Juneau Empire)
Posted: May 27th, 2009, 3:25pm EDT
Credit-card customers, victims of complicated and aggressive billing schemes, won a substantial consumer victory with passage of the federal credit card bill. Much of the legislation is good news, but it also contains bad unintended consequences and an ugly, disconnected amendment. -
US banks swing into profit, but bad loans mount: FDIC (TODAYonline)
Posted: May 27th, 2009, 3:01pm EDT
The Federal Deposit Insurance Corporation headquarters in Washington, DC. The US banking sector swung to a collective profit in the first quarter after posting a loss in the fourth quarter, despite a rise in bad loans, a federal government agency said Wednesday. -
US banks swing into profit, but bad loans mount: FDIC (AFP via Yahoo! News)
Posted: May 27th, 2009, 2:33pm EDT
The US banking sector swung to a collective profit in the first quarter after posting a loss in the fourth quarter, despite a rise in bad loans, a federal government agency said Wednesday. -
FOREX-Dollar gains vs euro as credit anxiety eases (Reuters via Yahoo! Philippines News)
Posted: May 27th, 2009, 12:57pm EDT
* Dollar gains on euro as credit rating fears ease -
Bad debt hurts Suncorp (The Courier Mail)
Posted: May 27th, 2009, 9:00am EDT
INSURANCE and banking group Suncorp has warned bad loan charges could reach $800 million this year amid declining property values. -
Japan firms facing bad debt if GM files bankruptcy (AP via Yahoo! Finance)
Posted: May 27th, 2009, 8:49am EDT
More than 100 Japanese companies face possible bad debts if General Motors Corp. files for bankruptcy, a private credit research agency said Wednesday. -
Ackman Battles Through Bad Bet, Maintains Narrow Focus (Indie Research via Yahoo! Finance)
Posted: May 27th, 2009, 8:26am EDT
In a year of bad bets, William Ackman's 2008 leveraged bet on a discount retailer went spectacularly bad. -
Bad debts go higher (Herald Sun)
Posted: May 27th, 2009, 8:22am EDT
INSURANCE and banking group Suncorp has warned that its bad loan charges could reach $800 million this year. -
Credit Suisse's massive mountain of debt (MSNBC)
Posted: May 27th, 2009, 7:29am EDT
Of all the bad loans made by Credit Suisse in 2002-06, Western resort loans have to be among the worst. -
EIF Secure EUR 200 M Credit Source for Bulgaria Businesses (Novinite.com)
Posted: May 27th, 2009, 7:16am EDT
The European Investment Fund (EIF) will secure a credit resource for Bulgaria worth EUR 200 M on Wednesday. The Framework and Financial agreement for implementation of the JEREMIE initiative between the Bulgaria government and the EIF will be signed Wednesday at an official ceremony in Sofia. -
New credit card rules will affect borrowers under 21 (The California Aggie)
Posted: May 27th, 2009, 12:04am EDT
al Day weekend began, President Obama signed into law a bill that supporters say will protect debt-ridden students and other consumers from credit card companies that use unfair lending and billing practices. The aptly named Credit Card Accountability, Responsibility and Disclosure (CARD) Act will go into effect in nine months and represents a sweeping change to the way credit card companies do ... -
The good, the bad and the ugly (Macon Telegraph)
Posted: May 26th, 2009, 11:02pm EDT
Credit-card customers, victims of complicated and aggressive billing schemes, won a substantial consumer victory with passage of the federal credit card bill. Much of the legislation is good news, but it also contains bad unintended consequences and an ugly, disconnected amendment. -
College students deserve some credit (The Kansas City Star)
Posted: May 26th, 2009, 10:19pm EDT
A credit card is like a good drink. It’s fun to indulge at the time, but the hangover is horrible. -
Credit market role a 'natural fit': EDC chief (National Post)
Posted: May 26th, 2009, 10:11pm EDT
Eric Siegel, chief executive of Export Development Canada, says it was a "natural fit" for the Crown-owned financier to emerge as a stop-gap player in the domestic credit market -
JPMorgan’s WaMu Windfall Turns Bad Loans Into Income (Update2) (Bloomberg)
Posted: May 26th, 2009, 4:55pm EDT
May 26 (Bloomberg) -- JPMorgan Chase & Co. stands to reap a $29 billion windfall thanks to an accounting rule that lets the second-biggest U.S. bank transform bad loans it purchased from Washington Mutual Inc. into income. -
New Credit Card Law: Protecting or Preventing Consumer Credit? (Fox News)
Posted: May 26th, 2009, 2:02pm EDT
Industry experts are unanimous in their agreement that credit card issuers are going to have to make major changes in the way they run their businesses. And, despite the headlines, not all of them will be positive for the consumer. -
JPMorgan’s WaMu Windfall Turns Bad Loans Into Income (Update1) (Bloomberg)
Posted: May 26th, 2009, 10:21am EDT
May 26 (Bloomberg) -- JPMorgan Chase & Co. stands to reap a $29 billion windfall thanks to an accounting rule that lets the second-biggest U.S. bank transform bad loans it purchased from Washington Mutual Inc. into income. -
Bailout Riches! How Everyday Investors Can Make a Fortune Buying Bad Loans for Pennies on the Dollar, by Bill Bartmann (Business Wire via Yahoo! Finance)
Posted: May 26th, 2009, 8:00am EDT
HOBOKEN, N.J.----Bill Bartmann, the "Billionaire Business Coach" is sharing information on the lucrative business of buying bad debt with everyday citizen investors, and teaching his ten steps to the money-making cycle in his new book BAILOUT RICHES!: How Everyday Investors Can Make a Fortune Buying Bad Loans for Pennies on the Dollar . -
College students sweat new credit rules (Journal & Courier)
Posted: May 26th, 2009, 7:37am EDT
Taylor Crane, a junior studying chemical engineering at Purdue University, regularly swipes his credit card for small purchases -- meals, snacks, sodas. -
Mortgages: How one bad debt can send your loan chances into freefall (Guardian Unlimited)
Posted: May 26th, 2009, 3:44am EDT
Pamela Allen earns more than £50,000 a year, but the only mortgage she can get is at 12.75%. Rupert Jones reveals how home buyers with minor blots in their credit history are struggling to find loans As the recession continues to bite, the number of people with less-than-perfect credit histories is rising rapidly. But, at the same time, many of the mortgage companies catering for such people ... -
GRD checks mining clients for bad debts (The West Australian)
Posted: May 26th, 2009, 3:23am EDT
Engineering firm GRD is monitoring the balance sheets of its resource sector clients for signs of strain as it defends itself against bad debts. GRD is being selective about taking on projects, keepin -
Avoid being surprised by a bank cutting your credit card account (Lansing State Journal)
Posted: May 26th, 2009, 3:11am EDT
The bad economy has been bad for credit card companies too, and some are responding by cutting accounts of customers considered to be high risk or infrequent users. Some don't find out until a cashier rejects a purchase. While credit card companies and banks are supposed to notify customers of changes to their account, they can send out the information by snail mail, which means some people may ... -
JPMorgan $29 Billion WaMu Windfall Turned Bad Loans Into Income (Bloomberg)
Posted: May 26th, 2009, 2:21am EDT
May 26 (Bloomberg) -- JPMorgan Chase & Co. stands to reap a $29 billion windfall thanks to an accounting rule that lets the second-biggest U.S. bank transform bad loans it purchased from Washington Mutual Inc. into income. -
College students sweat new credit rules (Journal & Courier)
Posted: May 26th, 2009, 1:10am EDT
Taylor Crane, a junior studying chemical engineering at Purdue University, regularly swipes his credit card for small purchases -- meals, snacks, sodas. -
New credit card restrictions may lead to annual fees (Lawrence Journal-World)
Posted: May 26th, 2009, 12:15am EDT
Credit card users who crow that they seldom are charged interest on purchases because they pay their bills on time may not be able to crow much longer. -
Report: New twists on credit scams (UPI)
Posted: May 25th, 2009, 1:12pm EDT
KANSAS CITY, Mo., May 25 (UPI) -- U.S. fraud investigators say they're finding new schemes to improve bad credit histories so lenders will approve mortgages or lines of credit. -
Bailouts do little to ease credit crunch (Guardian Unlimited)
Posted: May 25th, 2009, 12:28pm EDT
Businesses and housebuyers are still struggling to secure loans and mortgages despite the government spending billions to get credit markets flowing again The government has done what it can to reignite the economy – but billions of pounds later – in the form of bailouts, asset protection schemes, credit guarantees and taking majority stakes in two of Britain's biggest banks – individual ... -
No company can erase bad debt (Bankrate.com via Yahoo! Finance)
Posted: May 25th, 2009, 5:00am EDT
Be careful of false claims. A credit repair firm can only advise you on ways to improve your credit. -
Independent Ideas: Udall's credit controls punish the responsible (Colorado Daily)
Posted: May 25th, 2009, 12:54am EDT
Didn't Sen. Mark Udall's mama ever teach him to read contracts before signing them? If he had learned that lesson, he wouldn't impose new federal controls on credit cards -- controls that would punish the responsible and the poor in order to reward irresponsible whiners. -
Bangaroo bust-up bad news for Rees (Crikey)
Posted: May 24th, 2009, 10:39pm EDT
Buried in a newspaper story on the weekend was a disclosure that is bad news for the struggling NSW Government, writes Glenn Dyer . -
Will credit card bill really help us? (Abilene Reporter-News)
Posted: May 24th, 2009, 8:19pm EDT
Finally, the government has done something for real consumers by smiting the odious practices of credit card companies. Or, has it? -
Stolen Credit Cards Used At Meijer (ClickOnDetroit)
Posted: May 24th, 2009, 6:25pm EDT
The Oakland County Sheriff's Office says it wants the public to help identify two young men who used stolen credit cards at a metro Detroit store. -
State Says It's in Control Of Bad Loan Situation (The Moscow Times)
Posted: May 24th, 2009, 3:02pm EDT
25 May 2009 By Jessica Bachman / The Moscow Times The number of bad loans in the country's banking system is "under control," First Deputy Prime Minister Igor Shuvalov said Friday in Astana, Kazakhstan, while an official said bad loans may account for up to 20 percent of the sector's credit portfolio. -
Banks may revive annual fees on credit cards (St. Louis Post-Dispatch)
Posted: May 24th, 2009, 11:55am EDT
If you pay your credit card bill in full every month, you probably think you're being smart. And you are. But bankers, partly in jest, refer to you as a deadbeat. -
Credit card reform (The Charlotte Observer)
Posted: May 24th, 2009, 6:09am EDT
New rules about credit cards, signed into law Friday and cheered by consumer watchdogs, won't be good for everybody. -
Get ready to subsidize all those irresponsible credit users (The Morning Call)
Posted: May 24th, 2009, 3:06am EDT
Leave it to the banks to try to turn passage of credit card reform legislation Tuesday into bad news for many cardholders. -
Revealing the Hidden Cost Of Credit Cards (Washington Post)
Posted: May 23rd, 2009, 11:00pm EDT
Credit card users who crow that they're seldom charged interest on purchases because they pay their bills on time may not be able to crow much longer. President Obama is about to sign into law new restrictions on the credit card industry that lenders say may lead to the return of widespread annual fees. -
Obama Signs New Credit Card Rules into Law (San Diego 6)
Posted: May 22nd, 2009, 11:50pm EDT
They're being called the most sweeping credit card reforms in 40-years. -
What to do if your credit-card line gets cut (Fort Worth Star-Telegram)
Posted: May 22nd, 2009, 11:48pm EDT
Contact company to restore your line of credit -
Obama Signs Credit-Card Consumers’ ‘Bill of Rights’ (Update2) (Bloomberg)
Posted: May 22nd, 2009, 4:57pm EDT
May 22 (Bloomberg) -- President Barack Obama signed into law a credit-card consumers’ “Bill of Rights” that limits fees and curbs contract changes, saying it will give Americans “the strong and reliable protections they deserve.” -
Obama Signs Credit Card Bill (CBS News)
Posted: May 22nd, 2009, 4:30pm EDT
President Barack Obama warned overeager shoppers and greedy credit card companies alike on Friday to act responsibly as he signed into law a bill designed to protect debt-ridden consumers from surprise charges. -
New credit card limitations in US (BBC News)
Posted: May 22nd, 2009, 5:49am EDT
Curbs are to be imposed on US credit card companies' ability to charge fees or raise interest rates on borrowings. -
US credit card firms clamp down (BBC News)
Posted: May 22nd, 2009, 5:49am EDT
Curbs are to be imposed on US credit card companies' ability to charge fees or raise interest rates on borrowings. -
New credit card limitations in US (BBC News)
Posted: May 22nd, 2009, 5:45am EDT
US credit card companies will soon be bound by new restrictions on their ability to charge fees or raise interest rates on existing borrowings. -
US credit card firms clamp down (BBC News)
Posted: May 22nd, 2009, 5:45am EDT
President Barack Obama signs into law new restrictions on the practices of US credit card companies. -
(AFX UK Focus) 2009-05-22 10:16 FACTBOX-Russia's banks struggle with bad loans (Interactive Investor)
Posted: May 22nd, 2009, 4:48am EDT
MOSCOW, May 22 (Reuters) - Russian banks could see their profits erased in 2009 if bad loans rise to 10 percent of credit portfolios. Following are links to recent government and industry forecasts for the banking industry: -
FACTBOX-Russia's banks struggle with bad loans (Reuters via Yahoo! Asia News)
Posted: May 22nd, 2009, 4:01am EDT
MOSCOW, May 22 (Reuters) - Russian banks could see their profits erased in 2009 if bad loans rise to 10 percent of credit portfolios. -
FACTBOX-Russia's banks struggle with bad loans (Reuters via Yahoo! Singapore News)
Posted: May 22nd, 2009, 4:01am EDT
MOSCOW, May 22 (Reuters) - Russian banks could see their profits erased in 2009 if bad loans rise to 10 percent of credit portfolios. -
Dollar Slides to 4-Month Low Versus Euro on U.S. Credit Concern (Bloomberg)
Posted: May 22nd, 2009, 4:00am EDT
May 22 (Bloomberg) -- The dollar declined to a four-month low against the euro and weakened versus the yen on speculation the U.S. may lose its AAA credit rating. -
Paying Back TARP: Good for Banks, Bad for Shareholders? (Time Magazine)
Posted: May 22nd, 2009, 3:50am EDT
Back from the brink, banks are now eager to repay the government's TARP funding. But is this bad news for investors? -
Goldman, Credit Suisse Clash On Anglo American (Fox News)
Posted: May 22nd, 2009, 2:49am EDT
Goldman, Credit Suisse Clash On Anglo American -
Dollar Slides to 4-Month Low Versus Euro on U.S. Credit Concern (Bloomberg)
Posted: May 22nd, 2009, 1:37am EDT
May 22 (Bloomberg) -- The dollar fell to a four-month low against the euro and weakened versus the yen on speculation the U.S. may lose its AAA credit rating. -
Congress Passes Credit Card Bill (KLFY Lafayette)
Posted: May 21st, 2009, 8:18pm EDT
Congress has passed a measure aimed at cracking down on unfair credit card company practices. But, some argue the bill helps bad credit card customers at the expense of good ones. -
How to build good credit in a bad market (Sun-Sentinel)
Posted: May 21st, 2009, 2:14pm EDT
Right now most of us are thinking about how to save money and cut back on expenses (goodbye restaurants, hello home-cooked meals, etc.) but now is also a good time to build up good credit. -
Credit card bills to provide truer picture of debt (CTV Winnipeg)
Posted: May 21st, 2009, 12:35pm EDT
Credit card companies will give customers a three-week grace period for all credit card purchases, one of several new industry regulations announced by Finance Minister Jim Flaherty. -
State lawmakers take aim at credit checks for job seekers (Norwalk Advocate)
Posted: May 21st, 2009, 7:11am EDT
HARTFORD -- "Bad credit? No credit?" Many people are used to hearing those phrases in advertisements from companies seeking to sell them something. State lawmakers are considering legislation to prevent companies from asking those same questions when deciding whether to hire someone. -
State lawmaker take aim at credit checks for job seekers (Connecticut Post)
Posted: May 20th, 2009, 11:17pm EDT
HARTFORD -- "Bad credit? No credit?" Many people are used to hearing those phrases in advertisements from companies seeking to sell them something. Now, state lawmakers are considering legislation -
State lawmakers take aim at credit checks for job seekers (Stamford Advocate)
Posted: May 20th, 2009, 7:09pm EDT
HARTFORD -- "Bad credit? No credit?" Many people are used to hearing those phrases in advertisements from companies seeking to sell them something. -
New rules tighten reins on credit card companies (amNewYork)
Posted: May 20th, 2009, 5:55pm EDT
Associated Press photo By Jason Fink For the 19-year-old college student who uses plastic to pay for books and living expenses, the credit card overhaul passed by the House Wednesday is bad news. For the salesman who works on... -
Bad credit: Passengers stranded as Ozjet halts flights (News.com.au Travel)
Posted: May 20th, 2009, 5:32pm EDT
PASSENGERS bound for Bali were stranded at Perth Airport after Ozjet Airlines suspended all flights after allegedly becoming a credit risk. -
Credit-card reform's downside? Fewer perks (Chicago Tribune)
Posted: May 20th, 2009, 6:45am EDT
Leave it to the banks to try to turn passage of credit card reform legislation Tuesday into bad news for many cardholders. -
Credit card reform becomes opportunity to hammer good customers (Los Angeles Times)
Posted: May 20th, 2009, 2:14am EDT
Card issuers are likely to go after good cardholders for extra money if they can't profit as much from bad ones. Leave it to the banks to try to turn passage of credit card reform legislation Tuesday into bad news for many cardholders. -
As the UK Economy Worsens, Bad Credit Loans Look Better than Conventional Ones (PRWeb via Yahoo! News)
Posted: May 19th, 2009, 2:01am EDT
As the UK economic outlook continues to worsen, bad credit loans offer a viable alternative to conventional forms of credit, explains Andy Hygate from www.loansbadcredit.org.uk -
Suspect in 'Bad-Hair' robberies arrested (The Arizona Republic)
Posted: May 13th, 2009, 3:26am EDT
A man suspected of being the "Bad-Hair-Day Bandit" - a wigged man who has robbed at least seven Valley banks - was arrested Monday after his wig caught the attention of a reserve sheriff's deputy. -
Bad joke on taxpayers - Wed, 13 May 2009 PST (The Spokesman-Review)
Posted: May 13th, 2009, 2:16am EDT
So let me get this straight: “Millions of Americans enjoying their small windfall from President Barack Obama’s ‘Making Work Pay’ tax credit are in for an unpleasant surprise next spring. The government is going to want some of that money back.” -
Letters: 'Offensive word' was not a 'bad example' (Saratoga News)
Posted: May 13th, 2009, 12:47am EDT
A "bad example" was not set by Dick Sparrer in his April 21 article regarding being beaten by his sister in golf ("Offensive word in opinion piece sets bad example," letters, April 28). -
Bad Hair Bandit Caught, ID'd and Charged (FOX 10 Phoenix)
Posted: May 12th, 2009, 10:17pm EDT
Scottsdale Police believe the man they captured Monday is the same man suspected in seven other area robberies. A man deemed the 'Bad Hair Bandit' has been disguising himself in different wigs to rob a bank. -
MCSO: Deputy's actions foiled 'Bad Hair Day Bandit's' plans (ABC 15 Phoenix)
Posted: May 12th, 2009, 7:15pm EDT
A Maricopa County Sheriff's reserve deputy is being credited for foiling a Valley bank robber known as the "Bad Hair Day Bandit." On Monday, Scottsdale police arrested three people, one of whom investigators believe is the serial bank robber. -
CBA slashes dividend as bad debts rise (Sydney Morning Herald)
Posted: May 12th, 2009, 6:45pm EDT
Commonwealth Bank follows its rivals by cutting the next dividend to help offset rising bad debt, while local retail operations hold up in tough conditions. -
CBA slashes dividend as bad debts rise (Business Day)
Posted: May 12th, 2009, 6:45pm EDT
Commonwealth Bank follows its rivals by cutting the next dividend to help offset rising bad debt, while local retail operations hold up in tough conditions. -
Bank Unfairly Suspends Credit, Woman Says (KCTV 5 Kansas City)
Posted: May 12th, 2009, 6:39pm EDT
A local mother says Bank of America unfairly suspended her home equity line of credit. -
Neighbors credit Martinez man for safe fire escape (Contra Costa Times)
Posted: May 12th, 2009, 5:08pm EDT
n Neighbors credit quick-thinking Martinez man for safe escape from apartment blaze -
Credit Suisse loan ruled predatory (Billings Gazette)
Posted: May 12th, 2009, 4:33pm EDT
HELENA - A federal bankruptcy judge has ruled that a $375 million loan made to the Yellowstone Club by Credit Suisse was predatory and should be subordinated to other debts. Judge Ralph Kirscher issued a partial and interim order Tuesday. He did ... -
Snipping Credit Lines for Small Businesses (BusinessWeek)
Posted: May 12th, 2009, 4:25pm EDT
For small business owners, a line of credit can be a lifesaver, giving them a buffer against cash-flow problems and enabling them to handle regular expenses such as payroll. -
Credit Suisse loan ruled predatory (Billings Gazette)
Posted: May 12th, 2009, 4:22pm EDT
HELENA - A federal bankruptcy judge has ruled that a $375 million loan made to the Yellowstone Club by Credit Suisse was predatory and should be subordinated to other debts. -
Business Owner Takes Chances For Credit (WCMH Columbus)
Posted: May 12th, 2009, 2:59pm EDT
Even as more businesses close their doors in the face of a bad economy, one Central Ohio woman is taking chances and finding lines of credit. -
The Real Problem with Credit Cards: The Cardholders (Time Magazine)
Posted: May 12th, 2009, 10:13am EDT
To fix the problem of excessive credit-card debt, Congress needs to consider more than credit-card issuers -- it needs to consider you -
Advanta puts credit cards on hold (Philadelphia Business Journal)
Posted: May 12th, 2009, 8:16am EDT
In an effort to limit losses and erosion of its capital as credit deteriorates, small business credit-card issuer Advanta Corp. said late Monday that its securitization trust will go into early amortization — where the company uses receivables from customers to accelerate payment to investor bondholders. While that protects investors from prolonged exposure to a pool of receivables whose credit ... -
Bad Axe captures county softball title; Greyerbiehl is MVP (Huron Daily Tribune)
Posted: May 12th, 2009, 7:58am EDT
BAD AXE — After getting beaten up by state-ranked Reese and Unionville-Sebewaing Area earlier in the week, Bad Axe was able to deliver some punishment of its own here Friday night during the Huron Daily Tribune/Huron County Softball Tournament. -
The Real Problem with Credit Cards: The Cardholders (Time Magazine)
Posted: May 12th, 2009, 3:50am EDT
To fix the problem of excessive credit-card debt, Congress needs to consider more than credit-card issuers -- it needs to consider you -
Space Coast Credit Union sizing up Eastern Financial (Miami Herald)
Posted: May 12th, 2009, 2:07am EDT
Space Coast Credit Union, which is seeking to acquire failed Eastern Financial Credit Union, sees an opportunity to double its size and broaden its reach in Florida to a host of key markets, especially in South Florida. -
Police believe they've captured a bank robber who seems to perpetually have a bad hair day. (ABC 15 Phoenix)
Posted: May 11th, 2009, 8:00pm EDT
Scottsdale police arrested three men Monday, one of whom investigators believe is the "Bad Hair Day Bandit." The suspect earned the name because surveillance images show him wearing different wigs during different robberies that have taken place in Scottsdale, Chandler and Phoenix. -
Senate nears credit card compromise (The Hill)
Posted: May 11th, 2009, 6:47pm EDT
The Senate is likely to pass a bill this week that would clamp down on the credit card industry, which would... -
Recession Scams: Consumer credit counseling (WTOC 11 Savannah)
Posted: May 11th, 2009, 5:41pm EDT
As WTOC continues it's Special Assignment: Beating the Recession, tonight we will look at consumer credit counseling. -
Credit Markets On the Mend, But Not Yet Healed (Fox News)
Posted: May 11th, 2009, 5:04pm EDT
Analysts say credit markets are healing but not yet fixed, which may help explain both the recent runup in stock prices and also the widespread fear that the runup is premature. -
Key not expecting credit downgrade (Newstalk ZB via Yahoo!Xtra News)
Posted: May 11th, 2009, 2:20pm EDT
Prime Minister John Key is confident New Zealand will not receive a credit downgrade after this month's Budget. -
HSBC Says 2009 Will Be ‘Tough’ as U.S. Bad Debts Rise (Update2) (Bloomberg)
Posted: May 11th, 2009, 1:30pm EDT
May 11 (Bloomberg) -- HSBC Holdings Plc , Europe’s biggest bank, said 2009 will be a “tough” year as bad loans increase and the economy deteriorates. -
Bad Axe captures county softball title; Greyerbiehl is MVP (Huron Daily Tribune)
Posted: May 11th, 2009, 10:28am EDT
BAD AXE — After getting beaten up by state-ranked Reese and Unionville-Sebewaing Area earlier in the week, Bad Axe was able to deliver some punishment of its own here Friday night during the Huron Daily Tribune/Huron County Softball Tournament. -
HSBC Says 2009 Will Be ‘Tough’ as U.S. Bad Debts Rise (Update1) (Bloomberg)
Posted: May 11th, 2009, 7:45am EDT
May 11 (Bloomberg) -- HSBC Holdings Plc , Europe’s biggest bank, said 2009 will be a “tough” year as bad loans increase and the economy deteriorates. -
Judge wants to take credit cards at district court (NWAnews.com)
Posted: May 11th, 2009, 7:21am EDT
ROGERS — Right now, the Rogers District Court can accept checks, but not credit cards. Judge Brad Karren would ultimately like to do exactly the opposite, but one step at a time. (Benton County Daily Record) -
HSBC Says 2009 Will Be ‘Tough’ as U.S. Bad Debt Provisions Rise (Bloomberg)
Posted: May 11th, 2009, 6:36am EDT
May 11 (Bloomberg) -- HSBC Holdings Plc , Europe’s biggest bank, said 2009 will be a “tough” year as bad loans increase and the economy deteriorates. -
The Next Challenge for Banks: Credit Card Losses (New York Times)
Posted: May 11th, 2009, 6:33am EDT
It used to be easy to guess how many Americans would have problems paying their credit card bills. Banks just looked at unemployment: Fewer jobs meant more trouble ahead. -
French Fin Min: 1Q GDP Figures Will Be "Bad" - Report (The Forex Market)
Posted: May 11th, 2009, 5:03am EDT
PARIS (Dow Jones)--French gross domestic product figures, scheduled to be published Friday, will be "undoubtedly bad," Finance Minister Christine Lagarde told Le Monde newspaper in an interview published Monday. -
Banks sanguine despite rising bad debts (Việt Nam News)
Posted: May 11th, 2009, 4:58am EDT
Bad debts (non-performing loans -NPLs) of local commercial banks have showed an upward tendency due to difficulties caused by the global financial turmoil, but the banks believe they remain on top of the situation, reports the Vietnam Investment Review. -
Anger about credit cards (The Washington Times)
Posted: May 11th, 2009, 3:48am EDT
Prabhudev Konana traveled to Paris in December and used his Citigroup Inc. credit card to pay for hotel and restaurant bills. When he got home to Austin, Texas, he was upset to see two currency exchange rates for charges made the same day, and one was 3.6 percent higher than the other. He e-mailed Citigroup to complain. "The response was, 'Go read your contract,'" says Mr. Konana, 47, a ... -
Less Bad Indicators Hold Promise of Revival (INO News)
Posted: May 11th, 2009, 2:47am EDT
(RTTNews) - The economy appears all set to traverse on a slow painful path towards recovery following two quarters of severe downward adjustments. Economic numbers have been reassuring, with most of them coming in less bad than feared. -
Merkel Spars With Rivals on ‘Toxic’ Bad-Assets Election Issue (Bloomberg)
Posted: May 11th, 2009, 1:37am EDT
May 11 (Bloomberg) -- Germany’s two biggest parties, governing partners and election rivals, have turned the $1 trillion banking crisis into a campaign football. -
BANKS BRACE FOR CREDIT CARD WRITE-OFFS (The Indiana Gazette)
Posted: May 11th, 2009, 1:21am EDT
It used to be easy to guess how many Americans would have problems paying their credit card bills. Banks just looked at unemployment: Fewer jobs meant more trouble ahead. -
Banks brace for credit card write-offs (St. Louis Post-Dispatch)
Posted: May 10th, 2009, 11:41pm EDT
It used to be easy to guess how many Americans would have problems paying their credit card bills. Banks just looked at unemployment: Fewer jobs meant more trouble ahead. The unemployment rate has long mirrored banks' loss rates on card balances. -
Rising Credit Card Losses Are Next Challenge for Banks (New York Times)
Posted: May 10th, 2009, 8:25pm EDT
Even the government?s grim projections may vastly understate the size of the credit card troubles in store for major U.S. banks. -
Spotlight falls on bad debts as HSBC counts US costs (The Herald)
Posted: May 10th, 2009, 4:34pm EDT
Another round of job cuts at BT and an update on bad debts from HSBC will dominate the City agenda this week. HSBC is the last of the major UK banks to report on first-quarter trading when it updates today. -
Sherrington: Bad week gets worse for Dallas Mavericks' Nowitzki (Dallas Morning News)
Posted: May 10th, 2009, 1:33pm EDT
LOUIS DeLUCA / DMN Thirty-three points and 16 rebounds from Dirk Nowitzki weren't enough to get the Mavericks a win in Game 3.A bad week for Dallas Mavericks forward Dirk Nowitzki came to a bad end in Saturday's 106-105 Game 3 loss to Denver, writes Kevin Sherrington. Nowitzki called the defeat "about as tough a loss as I've been part of." The bizarre ending will be followed soon by an end to ... -
Acting Walled Lake chief’s credit charges questioned (The Oakland Press)
Posted: May 10th, 2009, 8:57am EDT
An inquiry is under way concerning allegations the acting Walled Lake police chief used a city credit card at a local tavern, Detroit casino and Lansing topless bar. -
Hard times spur credit-card policy changes (Seattle Times)
Posted: May 10th, 2009, 2:26am EDT
Citigroup, Bank of America and the rest of the top seven U.S. card issuers together raked in more than $27 billion in operating profit from credit cards in 2007, according to Bloomberg data. Now they're mostly earning customer outrage. -
Federal credit rules hinder development (The Argus Leader)
Posted: May 10th, 2009, 2:06am EDT
The national credit debacle prompted an infusion of money to faltering banks to ensure that a flow of housing and commercial development. But at the same time, federal rules were tightened to prevent reckless lending. The result, some Sioux Falls-area developers say, is that it's tougher for them to get loans. -
Senate, say ‘yes' to credit card reform (The Charlotte Observer)
Posted: May 9th, 2009, 11:08pm EDT
Consumers have been getting ripped off by the credit card industry. It's time for it to stop. -
Despite Catchy TV Ads, Credit Report Is Not Free (Washington Post)
Posted: May 9th, 2009, 11:00pm EDT
If you've seen any of the commercials for FreeCredit-Report.com, it probably took days to get the jingle out of your head. The catchy TV spots, on air since 2007, are cautionary tales about the repercussions of bad credit. But don't get carried away by this siren song. Run by Experian -- one of the... -
'Bad credit history is the top reason for loans being rejected' (Express India)
Posted: May 9th, 2009, 3:56pm EDT
Harsh Roongta, CEO, ApnaPaisa Pvt Ltd, founder of apnaloan.com and apnainsurance.com and experienced in the area of personal loans and credit, spoke with Abhay Rao of The Financial Express -
Curbing credit card practices good thing (San Jose Mercury News)
Posted: May 9th, 2009, 1:17pm EDT
Monday, April 27 Portland Press Herald, Portland, Maine There's some truth to the notion that banks won't be as eager to sell credit cards if they lose the ability to change the terms of those loans whenever they want. -
Nowitzki's credit cards may have been at risk (KVUE-TV Austin)
Posted: May 9th, 2009, 12:37pm EDT
The love interest of Mavericks star Dirk Nowitzki may have gained access to his credit cards without permission, The Dallas Morning News has learned. And, The News found, Cristal Taylor may have already victimized someone in a similar fashion – her former husband. -
Nowitzki's credit cards may have been at risk (Dallas Morning News)
Posted: May 8th, 2009, 11:25pm EDT
G.J. MCCARTHY / DMN Dirk Nowitzki (bottom) has found it difficult to get away from the attention the arrest of Cristal Taylor has focused on him.The love interest of Mavericks star Dirk Nowitzki may have gained access to his credit cards without permission, The Dallas Morning News has learned. And Nowitzki may not have been Cristal Taylor's first victim, The News has learned. | | -
There are five factors that determine your credit score and not knowing them can wreck your credit (ABC 15 Phoenix)
Posted: May 8th, 2009, 3:30pm EDT
Credit affects everything; good credit can save you thousands and bad credit can cost you a fortune. There are five factors that determine your credit score and not knowing them can wreck your credit. -
Bad Loans Make Charges More Likely at Small-Cap Banks (Update1) (Bloomberg)
Posted: May 8th, 2009, 11:03am EDT
May 8 (Bloomberg) -- Corus Bankshares Inc., Frontier Financial Corp. and W Holding Co. are among small banks in the U.S. where bad loans have grown larger than reserves, raising the possibility of writedowns, loan limits and a demand for capital that may prompt some to seek buyers. -
RBS Posts Loss on $7.4 Billion Bad Loans, Writedowns (Update3) (Bloomberg)
Posted: May 8th, 2009, 9:38am EDT
May 8 (Bloomberg) -- Royal Bank of Scotland Group Plc , Britain’s biggest government-owned bank, had a first-quarter loss after writing down 4.9 billion pounds ($7.4 billion) as credit-market investments soured and bad loans increased in all its markets. -
Update: RBS bad debts near £5bn (ShareCast via Yahoo! UK & Ireland Finance)
Posted: May 8th, 2009, 6:56am EDT
Royal Bank of Scotland lost £44m in the first quarter of 2009 as bad loans and credit market write-downs soared to almost £5bn. -
RBS Posts Loss on $7.4 Billion Bad Loans, Writedowns (Update2) (Bloomberg)
Posted: May 8th, 2009, 4:21am EDT
May 8 (Bloomberg) -- Royal Bank of Scotland Group Plc , the largest bank owned by the British government, had a first-quarter loss after writing down 4.9 billion pounds ($7.4 billion) as credit-market investments soured and bad loans increased in all its markets. -
European banks' bad debts soar (Reuters via Yahoo! News)
Posted: May 8th, 2009, 4:14am EDT
First-quarter results from two more European banks showed bad debts soaring in the face of tough economies, as U.S. rivals prepared to raise $75 billion to provide a cushion for the deepest recession in decades. -
RBS Posts Loss on $7.4 Billion Bad Loans, Writedowns (Update2) (Bloomberg)
Posted: May 8th, 2009, 4:07am EDT
May 8 (Bloomberg) -- Royal Bank of Scotland Group Plc , the biggest bank owned by the British government, posted a first- quarter loss as bad loans and credit market writedowns reached 4.9 billion pounds ($7.4 billion). -
Credit, Cars, and Confusion Among Canadians (PRWeb via Yahoo! News)
Posted: May 8th, 2009, 2:01am EDT
For years credit and cars have gone together - a ying to a yang. Good credit could mean good rates on the purchase financing of cars. Bad credit means sky high rates on that very same car. What are Canadians to do when credit card interest rates are through the roof, and car manufacturers are going bankrupt? They need to beware, be educated and protect their credit. -
Barclays profits jump by 15 per cent despite large rise in bad debts (Independent)
Posted: May 7th, 2009, 6:46pm EDT
Profits at Barclays leapt 15 per cent in the first three months of the year, despite a significant rise in bad debts, with one analyst calling it potentially "the best quarter" the bank has ever had. -
Consumer Credit Drops Record $11.1 Billion (Fox News)
Posted: May 7th, 2009, 2:49pm EDT
Consumer Credit Drops Record $11.1 Billion -
Loan Standards Tighten, Again (Forbes)
Posted: May 7th, 2009, 10:26am EDT
With so much bad credit plaguing the market, banks are hesitant to lend. -
Bad HBOS debts blamed as Lloyds shares tumble 15% (The Herald)
Posted: May 7th, 2009, 7:35am EDT
Soaring bad debts at part-nationalised Lloyds Banking Group spooked investors today as shares in the bank tumbled by as much as 15%. -
Europe bank bad debts cast shadow over buoyant mood (The Malaysian Insider)
Posted: May 7th, 2009, 7:26am EDT
LONDON, May 7 — A trio of top European banks showed bad debts are ratcheting up as economies worsen and unemployment rises, although investor optimism ahead of US bank stress test results drove shares to year highs. Results from the stress tests due later today are expected to show Bank of America, Citigroup and others need to find billions of dollars. But the prospect that banks are building ... -
Barclays defies recession with 15% rise in profits as Lloyds shares plunge on bad debt warning (Daily Mail)
Posted: May 7th, 2009, 6:55am EDT
Barclays defied the credit crunch today by unveiling a sharp rise in profits, while its part-nationalised rival Lloyds Banking Group said it was still on course to make a loss. Barclays said profits had soared by 15 per cent to £1.37 billion in the first three months of 2009. The surprise figures are largely due to huge profits at Barclays Capital investment banking division, which bought the ... -
Europe bank bad debts cast shadow over buoyant mood (Reuters via Yahoo! News)
Posted: May 7th, 2009, 5:56am EDT
A trio of top European banks showed bad debts are ratcheting up as economies worsen and unemployment rises, although investor optimism ahead of U.S. bank stress test results drove shares to year highs. -
North Island Credit Union has tough quarter (San Diego Union-Tribune)
Posted: May 7th, 2009, 4:15am EDT
It's no secret that the real estate meltdown has pushed some banks to the brink. But credit unions also are now coming under pressure from San Diego's housing woes. North Island Credit Union posted a $59.3 million first-quarter loss, mostly because it socked away millions in reserves to cover potential loan losses. The dismal results come on top of a $50 million loss that North Island posted for ... -
Australian Banks Brace for Bad-Loan Increase as Recession Bites (Bloomberg)
Posted: May 7th, 2009, 3:55am EDT
May 7 (Bloomberg) -- Australia’s biggest banks, which stayed profitable even as the credit crisis forced U.S. and European competitors into state rescues, are bracing for rising bad debts as the global recession spills into the local economy. -
AG sues to stop alleged Erie credit card scam (WFMJ Youngstown)
Posted: May 6th, 2009, 2:24pm EDT
ERIE, Pa. (AP) - The state attorney general has sued an Erie man and his business claiming it scammed people by offering "guaranteed" credit cards for a fee, even to people with bad credit. -
Flexible, Responsible Credit-Card Reform (BusinessWeek)
Posted: May 6th, 2009, 12:09pm EDT
Consumers are furious about tricks and traps in credit-card contracts . Most infuriating of all is when issuers lure customers with attractive terms and then unilaterally change them a few months—or weeks—later. Congress and the White House can no longer ignore the fury. -
Bradesco Shares Cut at HSBC on VisaNet IPO, Bad Loans (Update1) (Bloomberg)
Posted: May 6th, 2009, 5:59am EDT
May 6 (Bloomberg) -- Banco Bradesco SA was downgraded to “underweight” from “neutral” at HSBC Holdings Plc, which said bad loans will increase and investors are “overly valuing” the Brazilian bank’s potential gain from the sale of shares in its credit-card unit. -
Credit markets, stock prices acting in sync (The Globe and Mail)
Posted: May 4th, 2009, 3:33am EDT
For once, the credit markets aren't raining on stocks' parade. Over the past two years, about the only times the two markets were in agreement was when both were in freefall. -
Credit card companies as evil villains? It's not that simple (Los Angeles Times)
Posted: May 3rd, 2009, 11:50pm EDT
Is there any business in the United States more vilified than credit card lending? -
Credit card rates rising? You’re not alone (WNDU 16 South Bend)
Posted: May 3rd, 2009, 11:35pm EDT
Many people are experiencing rate hikes and credit line drops. A so-called Credit Card Holders’ Bill of Rights, supported by Congressman Joe Donnelly and passed by the U.S. House of Representatives, aims to get rid of sudden rate increases and excessive fees. -
Unfair credit card policies targeted (The Times-Reporter)
Posted: May 3rd, 2009, 11:07pm EDT
Attempts to rein in unfair credit card policies received a major boost last week with passage by the U.S. House of Representatives of the so-called Credit Card Holders’ Bill of Rights. -
Shopping for Low Credit Card Interest Rates (KARK Little Rock)
Posted: May 3rd, 2009, 10:47pm EDT
Credit card consumers are getting some bad news about their interest rates. Even those with good credit who pay off their balance each month are getting word that their rates are going up. But here's a way you can protect your pocketbook. -
Presented By: (San Francisco Chronicle)
Posted: May 3rd, 2009, 6:25pm EDT
Try our New Car Finder that helps you find vehicles by what matters most to you. Search by Price, Features, MPG and more. Get started now! Get a Bad Credit Car Loan Car.com's free service will help you get financing no matter what your credit score is. -
New Credit Card Flyers Website Encourages Customers to Take Action on Dwindling Number of 0% APR Balance Transfer ... (PRWeb)
Posted: May 3rd, 2009, 9:14am EDT
May has been a particularly hard month for consumers carrying credit card debt, as finding affordable and low interest balance transfer options has become more and more difficult. Luckily, the New CreditCardFlyers.com carries a wide assortment of credit card options with 0% balance transfer for consumers with bad credit histories. CreditCardFlyers.com's easy-to-use comparative tools, informative ... -
New Credit Card Flyers Website Encourages Customers to Take Action on Dwindling Number of 0% APR Balance Transfer ... (PRWeb via Yahoo! News)
Posted: May 3rd, 2009, 9:00am EDT
May has been a particularly hard month for consumers carrying credit card debt, as finding affordable and low interest balance transfer options has become more and more difficult. -
Giving credit where credit is due (News 24 South Africa)
Posted: May 3rd, 2009, 4:30am EDT
As many South African lenders brace themselves for an economic recession, a little-known microlender is aiming to capture more credit-hungry customers. -
New credit law is wrong move (The News & Observer)
Posted: May 3rd, 2009, 1:02am EDT
You do not approve of the free market setting the terms for credit cards, such as interest rate, fees, penalties, etc. ("Hope for credit card users," Cents and Sensibility, April 26). -
Bad receptions reflect on bad brides (Pittsburgh Tribune-Review)
Posted: May 2nd, 2009, 11:02pm EDT
To avoid gossip about your wedding day around the water cooler on Monday morning, the "reception spy" offers tips that can help good brides from becoming bad brides and even worse hostesses. -
Conversations: Eric Violette, the FreeCreditReport.com Guy (Washington Post)
Posted: May 2nd, 2009, 10:13pm EDT
Geez, this guy's been through a lot. First, he marries his dream girl only to learn her bad credit will force them to live in her parents' basement. Then his cruddy used subcompact gets repossessed, then an identity theft makes him take a job at a pirate-themed restaurant, and last we heard, he'd... -
There's no such thing as a fixed-rate credit card (Los Angeles Times)
Posted: May 2nd, 2009, 7:05pm EDT
Even if you have good credit, card issuers can change your rate and terms at will. Dear Liz: I just received a letter from my credit card issuer hiking my 8.9% fixed rate to a variable rate of 14.65%. I've had the card for more than 12 years, have never been late and have a near-perfect credit score. Are there any fixed-rate cards out there anymore? -
You are your credit score (St. Louis Post-Dispatch)
Posted: May 2nd, 2009, 9:11am EDT
You probably think of yourself as a human being. What a quaint idea in this digital age. To American business, you are a number. You are your credit score. Apply for a loan, and the bank will check your score. Increasingly, employers will check it if you apply for a job. -
Singletary: Credit cut harmful to scores at FICO (Modesto Bee)
Posted: May 2nd, 2009, 2:08am EDT
Many credit card users are in a panic as lenders snatch away long-held but unused credit cards or si