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Posted: July 29th, 2009, 12:31pm EDT
DUBLIN, July 29 (Reuters) - Ireland's "bad bank" will be able to raise funds via bonds for viable, partially completed property projects it will acquire under plans to cleanse the banking sector of risky assets, a source said on Wednesday. Dublin is publishing eagerly-awaited draft legislation on Thursday which will outline the powers the National Asset Management Agency (NAMA) will have to work ...
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Posted: July 29th, 2009, 11:57am EDT
Ireland's "bad bank" will be able to raise funds via bonds for viable, partially completed property projects it will acquire under plans to cleanse the banking sector of risky assets, a source said on Wednesday.
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Posted: July 29th, 2009, 11:33am EDT
Andrew Sable wasn't in the market for new wheels, but he says the federal "cash for clunkers" program helped him get an offer he couldn't refuse.
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Posted: July 29th, 2009, 11:33am EDT
FTRANS Corp., a leading provider of accounts receivable and credit management solutions, is migrating its clients to a credit scoring model in order to provide small businesses with insight into the credit standing of their customers.
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Posted: July 29th, 2009, 10:56am EDT
People with bad credit are finding they have few options these days when it comes to getting a new credit card. “All banks are further tightening credit, and who does that squeeze out? Subprime customers,” says Dennis Moroney, research director and senior analyst for TowerGroup, a research and advisory-services firm for the financial-services industry. Over the past year, credit-card issuers ...
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Posted: July 29th, 2009, 9:41am EDT
Special to The Press Register Consumer attorney and advocate Christopher E. Kittell, of the firm Merkel & Cocke, P.A., is pleased to announce the launching of www.fcralawyer.blogspot.com, a blog dedicated to explaining the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq. The blog will take each section of the Fair Credit Reporting Act and explain it in layman’s terms. The new blog will also ...
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Posted: July 29th, 2009, 9:18am EDT
Americans are drowning in $1 trillion in outstanding credit-card debt. How did we get into this mess?
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Posted: July 29th, 2009, 5:42am EDT
FRANKFURT -(Dow Jones)- Banks in the euro zone further tightened their credit standards for companies and households in the second quarter, indicating that massive sums of state aid and liquidity provisions from the European Central Bank have yet to rekindle bank lending.
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Posted: July 29th, 2009, 5:37am EDT
July 29 (Bloomberg) -- Deutsche Postbank AG , the retail lender part-owned by Deutsche Bank AG, may post a loss for the second quarter because of an increase in provisions for bad loans and credit-related writedowns.
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Posted: July 29th, 2009, 1:04am EDT
SACRAMENTO — Gov. Arnold Schwarzenegger signed a revised $85 billion budget Tuesday that he said contained “the good, the bad and the ugly,” including additional cuts to child welfare programs, health care for the poor and AIDS prevention efforts.
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Posted: July 28th, 2009, 9:47pm EDT
SINGAPORE, July 29 — Singapore's three banks could post sharp declines in quarterly profits from a year earlier, hit by bad debt charges and lower trading income. But analysts may focus more on the quarter-on-quarter numbers and look for forward-looking trends as the April-June period saw Singapore's economy pulling out of its worst recession ever. The situation is similar in Malaysia, where the ...
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Posted: July 28th, 2009, 6:59pm EDT
FRANKFURT/MADRID: Two of Europe’s biggest banks, Deutsche Bank and Spain’s BBVA, braced for the economic slump by increasing bad loan provisions in the second quarter.
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Posted: July 28th, 2009, 6:36pm EDT
Credit unions are being courted by Democrats to back a key part of the financial regulatory overhaul strongly opposed by the...
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Posted: July 28th, 2009, 3:31pm EDT
General Electric Co. said Tuesday its GE Capital finance arm is on track to be profitable this year and won't need outside funding, but that its higher level of losses on loans gone bad will likely continue into 2010.
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Posted: July 28th, 2009, 1:57pm EDT
Two of Europe's biggest banks, Deutsche Bank and Spain's BBVA , braced for the economic slump by increasing bad loan provisions in the second quarter, potentially setting the stage for further clashes between politicians and bankers.
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Posted: July 28th, 2009, 8:38am EDT
General Electric Co. said Tuesday its GE Capital finance arm is on track to be profitable this year and won't need outside funding, but that its higher level of losses on loans gone bad will likely continue into 2010. The Fairfield, Conn.-based industrial... Sponsored Topics: GE Capital - NBC - Business - Finance - General Electric
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Posted: July 28th, 2009, 12:07am EDT
Here's another good reason to pay attention to mail from your credit card company: You could soon receive a notice that the interest rate on your credit card is going up. That's the bad news. The good news? Well, there isn't much, but how about this: You may actually have time to figure out what to do about it.
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Posted: July 21st, 2009, 12:52pm EDT
Federal prosecutors say the former chief executive of a failed West Virginia credit union has been charged with embezzling more than $1 million.
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Posted: July 21st, 2009, 11:06am EDT
Shortly after I had our first child in 2005, my husband lost his job and I began to have financial difficulties. I would manage to pay most of the bills, leaving only my credit card unpaid each month. After the first few months, I did pay some money toward the card, but was not able to pay the whole amount.
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Posted: July 21st, 2009, 9:15am EDT
Green Shoots Everywhere! The credit crisis is over; an economic recovery is just around the corner! Hold your horses – there may not be enough water to nourish them at the next pit stop.
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Posted: July 21st, 2009, 9:13am EDT
Telstra is trying to herd customers online by charging $2.20 for over-the-counter payments, but that's not all bad, consumer advocacy group Choice says.
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Posted: July 21st, 2009, 8:33am EDT
Bank of America may incur a $12 billion pretax charge in the first quarter of 2010 to comply with an accounting rule governing how it records credit card losses, an analyst said on Monday.
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Posted: July 21st, 2009, 8:05am EDT
Comerica Inc. lost $16 million, or 10 cents a share, between April and June, as the Dallas-based lender continued to face credit woes tied in part to residential real estate developers.
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Posted: July 21st, 2009, 2:01am EDT
As the economic woes continue, bad credit loans from http://www.loansbadcredit.org.uk offer hope to some consumers, reports Andy Hygate.
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Posted: July 21st, 2009, 1:25am EDT
TELSTRA is trying to herd customers online by charging $2.20 for over-the-counter payments, but that's not all bad, consumer advocacy group Choice says.
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Posted: July 21st, 2009, 12:59am EDT
Bad debt in Vietnam's banking system rose to 2.52 percent of loans at the end of June, from 2.17 percent at the end of last year, as lending to securities and real estate investment surged, the central bank said.
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Posted: July 20th, 2009, 11:55pm EDT
Telstra is trying to herd customers online by charging $2.20 for over-the-counter payments, but that’s not all bad, consumer advocacy group Choice says. It could actually help the digitally illiterat
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Posted: July 20th, 2009, 11:00pm EDT
TELSTRA is trying to herd customers online by charging $2.20 for over-the-counter payments, but Choice says it's not a bad plan.
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Posted: July 20th, 2009, 10:51pm EDT
Telstra is trying to herd customers online by charging for over-the-counter payments, but that's not all bad, Choice says.
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Posted: July 20th, 2009, 10:28pm EDT
Germany's proposed bad bank scheme that aims to help German commercial and public sector banks recover from the impact of the global financial crisis presents several drawbacks but also some benefits,
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Posted: July 20th, 2009, 5:56pm EDT
Wonder why so many people seem to be so dumb? Investing in real estate during a bubble? Smoking cigarettes? Falling for Internet scams? Maxing out credit cards at 20% interest? Well, some researchers may have some of the answer: bad air. Not "hair" but "air." Urban air pollution breathed by pregnant women is now linked to lower IQ in babies. The research tested the effects of polycyclic aromatic ...
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Posted: July 20th, 2009, 1:11pm EDT
Readers have been submitting questions to the blog about the first-time homebuyer credit. IRS spokesman Jim Dupree has been answering them. This time around, Dupree has some bad news for questioners:
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Posted: July 19th, 2009, 11:31pm EDT
Veda Advantage’s proposed new credit rating system will provide a narrow and potentially dangerous view of an individual or business’s creditworthiness,another credit rating company claims. CreditWorks managing director Ronnie Tan believes Veda Advantage’s system is flawed because of its reliance on only ‘negative’ data such as previous enquiries for credit, bad debts and bankruptcy. read more
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Posted: July 13th, 2009, 5:44am EDT
July 13 (Bloomberg) -- China’s central bank pledged to do more to guide loan growth as a record expansion in credit adds to the risks of asset bubbles and bad debts.
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Posted: July 13th, 2009, 4:14am EDT
Cedar Rapids, Ia. - Another wave of victimization is washing over families devastated by last year’s floods and tornadoes. This one is keeping people from buying a different home or fixing up destroyed property.
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Posted: July 13th, 2009, 4:10am EDT
July 13 (Bloomberg) -- China’s central bank pledged to “strengthen monetary and credit management” as record lending adds to the risks of asset bubbles and bad loans.
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Posted: July 13th, 2009, 2:57am EDT
Eighteen months into a deep recession triggered by a credit bubble, consumers have made little progress shrinking a mountain of debt. Until they do, the economy will struggle to grow -- likely for years.
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Posted: July 12th, 2009, 9:25pm EDT
An inmate – who was hoping to make crime pay from behind bars at FCI-Loretto – has been shut down by a federal judge. U.S. District Judge Kim Gibson in June dismissed a lawsuit filed by prisoner Michael Alan Crooker, who claimed that First Premier Bank of South Dakota was perpetrating a credit scam.
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Posted: July 12th, 2009, 6:34pm EDT
SALT LAKE CITY - Recent reports highlight a disturbing trend in America: average credit scores are falling in states across the nation. This trend is most evident in those states hit hardest by the slump in the housing market.
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Posted: July 12th, 2009, 1:19pm EDT
'Alan Greenspan blanched. "Why did you do it?" he asked, appalled. There I was, a 52-year-old economics reporter, telling the former chairman of the Federal Reserve how I'd taken out one of the reckless mortgages that were drowning the nation. And I was about to default.' New York Times journalist Edmund L Andrews on his own $500,000 credit meltdown It was December 2007, and I felt like a ...
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Posted: July 12th, 2009, 2:21am EDT
Q: When you pay off a credit card, how long does it take to show positive on your credit report?
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Posted: July 10th, 2009, 12:04pm EDT
Credit-card companies are scaling back their credit given to consumers, but that might not be so bad in the long term.
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Posted: July 9th, 2009, 2:52am EDT
David Jetuah, Accountancy Age , Thursday 9 July 2009 at 08:49:00 Bring SME management accounts out into the open, says experts SMEs’ management accounts should be seen and not hidden, according to advisers, credit insurers and credit ratings agencies. Because of the lack of the up-to-date financial information the curse of bad credit scores is now hitting 1.8m SMES, Accountancy Age reported last ...
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Posted: July 5th, 2009, 1:07am EDT
As new car sales plummet, unemployment rises and the economy remains in a recession, J.D. Byrider Systems is flourishing -- selling used cars to people with tarnished credit or no credit at all.
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Posted: July 4th, 2009, 11:26pm EDT
NEW YORK — They're the punishing conditions that come with a credit card: interest rates, late fees, monthly minimums. As much as you grumble, there's little you can do.
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Posted: July 4th, 2009, 7:41pm EDT
(AP) - Every time you swipe your credit card and wait for the transaction to be approved, sensitive data including your name and account number are ferried from store to bank through computer networks, each step a potential opening for hackers.
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Posted: July 4th, 2009, 3:36pm EDT
Dear Liz: I’m in a potentially bad situation with my home equity line of credit. I’m trying to refinance my primary mortgage and would save nearly $150 a month. But the HELOC lender is dragging its feet on agreeing to a subordination. If the lender doesn’t agree, I lose the deal.
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Posted: July 4th, 2009, 1:50pm EDT
Getting a credit card can be good for a young person's credit, or it can be really bad. A new law will limit people under 21 years of age from getting a credit card unless they meet certain requirements.
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Posted: July 4th, 2009, 12:16pm EDT
BERLIN, July 4 (Reuters) - German banks are doing too little to pass on credit and the government may need to consider measures other than its "bad bank " plan to ward off a severe credit crunch, politicians said at the weekend. German politicians from across the spectrum criticised banks for not passing on credit that they were getting at low rates from central banks. "Banks currently prefer to ...
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Posted: July 4th, 2009, 11:44am EDT
Can good come out of an economic crisis? Maybe not so much good that it outweighs the bad, but I think the answer is still yes.
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Posted: July 4th, 2009, 6:15am EDT
BERLIN, July 4 (Reuters) - Germany will consider other measures to supply its economy with credit if its "bad bank" plan proves insufficient, Finance Minister Peer Steinbrueck told a German weekly. Germany's Bundestag lower house of parliament on Friday approved a "bad bank" plan that aims to relieve banks by enabling them to shift billions of euros in troubled assets off their books. "If we see ...
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Posted: July 4th, 2009, 5:36am EDT
Germany will consider other measures to supply its economy with credit if its "bad bank" plan proves insufficient, Finance Minister Peer Steinbrueck told a German weekly.
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Posted: July 3rd, 2009, 2:48pm EDT
The German lower house of parliament approved on Friday a bill that provides for the creation of "bad banks" to help commercial and state-owned banks recover from the financial crisis.
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Posted: July 3rd, 2009, 1:39pm EDT
No matter how you swipe them, credit cards are full of pros and cons that weigh heavily on young Canadians and can sometimes be a make-or-break influence on their pocketbooks.[...]
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Posted: July 3rd, 2009, 6:36am EDT
Bad credit can cost you - whether or not it is your fault. And it can be more costly during these days of tight credit. The Better Business Bureau continues to see an increase in the number of complaints received about CROs - credit-repair organizations - and it appears that the number of shady CROs also is increasing.