Late Wednesday night, news broke that more than 450,000 Yahoo account credentials had been leaked in an effort to make a “wake-up call” to Americans and companies about the lack of data security.
The account information was published to the Internet as a plain text file and contains emails and passwords for what appear to be Yahoo Voices registrants. The most interesting tidbit of news to come out of the password leak is the continuing lack of password diligence. Many hacked users had passwords like “123456″ and “password” — a move that puts you directly in the line of fire of hackers.
The Consumer Financial Protection Bureau announced a proposal on Monday for new “Know Before You Owe” mortgage forms that would help consumers to be better informed about the full cost of their home loan.
The new forms — “Loan Estimate” and “Closing Disclosure” — would be given to borrowers after applying for the loan, but before closing and would replace two current forms that are complex and overlap in many instances. The CFPB also proposed rules that would ban some particularly risky mortgage features like balloon payments and prepayment penalties.
The public can submit comments on the proposed rules for the next 60 days.
As the depth of the LIBOR scandal reaches into American markets, many consumers are wondering how this European banking scandal has affected them.
Daily Finance was on the case this week, highlighting the size and scope of the financial products tied to the London interbank offer rate. Specifically, many American homeowners could have suffered from LIBOR manipulation due to the fact that many adjustable-rate mortgages are based on LIBOR. Also, several American companies hold debts that are tied to LIBOR, so shareholders of those companies could have been indirectly affected as well. The news on LIBOR won’t stop for a while. Stay tuned.
This fun piece of news may be the makings of a new trend in real estate.
One California homeowner decided to take her home marketing into her own hands and hired a production team to create a short movie set in her home as a way to publicize the home. This might not be a technique for everyone though — the home is valued at $35 million and is just above an area of Malibu known as “Billionaire’s Beach.”
Check out the video and more pictures of the home that inspired a movie here.
Image: NS Newsflash, via Flickr